WHAT exactly does it mean when a Reit is taken over? In the case of other corporate entities, it's fairly clear that when a general offer is made after the 30 per cent trigger point is reached, control of the company and the subsequent economic decision-making will pass into the hands of the successful takeover party. With Reits though, the situation is not as clear - mainly because economic...
2009
Three years in the making and Singapore's two integrated resorts will finally open soon and the operators are upbeat about the prospects. Resorts World Sentosa, due to open in a matter of weeks, expects to attract 13 million visitors in the first year alone. The resort said it has been receiving thousands of enquiries from the public everyday. And one of the most talked about attractions is Universal...
Residents in Sengkang New Town on Wednesday welcomed their first wet market, which is being opened a year earlier than the target launch date. Kopitiam Square houses 120 stalls selling cooked food, meat, vegetables and dried goods. Some stallholders said their rental is 10 to 20 per cent higher than normal rates. But like the residents, they are optimistic about their business prospects thanks to its...
Prime retail rents have picked up in the current fourth quarter as leasing activity gather steam on the back of improved confidence and economic recovery, according to DTZ Research. Its estimates showed that gross rents of prime first-storey retail space in Orchard and Scotts Road increased marginally by one per cent to S$39.10 per square foot per month, after falling 7.3 per cent in the last four...
Singapore's economy is expected to revert to positive growth next year, thanks to the global recovery. According to some economists, growth could even surpass the government's estimates for 2010. They are looking at GDP growth of more than 5 per cent, compared to the government's current forecast of a 3 to 5 per cent growth. This follows 2009's roller coaster ride, where the economy took a beating in the...
Location: 65 Cavenagh Road (District 9) Tenure: Freehold Site Area: approx 101,193 sqft Year of Completion: 2014 Total Units: 200 Unit Types: Studio ~ 581 - 754 sqft 2 bedroom ~ 1,033 -1,389 sqft 3 bedroom ~ 1,302 - 2,992 sqft 4 bedroom ~ 1,561 - 2,131 sqft Penthouse ~ 1033 - 2,809 sqft Facilities: Swimming pool with sun tanning water deck * Children's pool * Hydrotheraphy pool * BBQ * Children's...
The upcoming Marina Bay Sands integrated resort in Singapore could break even at the operating level within the first or second month of opening. This bullish forecast was given by Las Vegas Sands CEO Sheldon Adelson. He said the resort is set to open at the end of March 2010 although it could be delayed by a couple of weeks. When fully completed, the Marina Bay Sands integrated resort will boast of more...
THE cautions have come in fast and furious as investors and speculators continue to plough into the property market, which has seen prices rising sharply in the last few months. Various parties - including the Monetary Authority of Singapore (MAS) - have issued warnings that if the economy proves to be weaker than expected, or if interest rates start rising in a rebounding economy, property buyers,...
Since June this year, transaction prices of apartments at the 910-unit City Square Residences in the secondary market have increasingly crossed $1,000 psf, hitting a high of $1,271 psf in August, when a 570 sq ft studio apartment on the 26th floor of one of the two 30-storey towers was sold for $725,000. Since October, however, more units have been changing hands in the resale market at prices above the...
Businessman Andy Ong was looking to buy a second home for investment along River Valley Road where he lives. The 45-year-old was excited when he saw that Adria condominium's showflat, which was within walking distance of his home, was ready for viewing. But he was in for a surprise. 'When I got there, I found out that the actual project site is in the Thomson Road area,' he says. 'Even though the...