Demand in Singapore’s property market may not be sustained because of economic uncertainty and ample supply, National Development Minister Mah Bow Tan said. The city-state is “monitoring the market closely” to ensure speculation in the property market doesn’t lead to a bubble forming, Mah told reporters today in Singapore. “I think some of the practices and habits you saw in the last property...
2009
More than S$27.5 billion has been invested so far in the new business and financial district in Marina Bay and the government is planning to pump in a further S$1 billion in infrastructure works there over the next 10 to 15 years. Singapore's National Development Minister Mah Bow Tan announced this at the topping out ceremony for the construction of the Marina Bay Financial Centre on Wednesday...
Singapore-listed Starhill Global Reit, which owns stakes in Wisma Atria and Ngee Ann City, said Wednesday its distribution per unit for the second quarter rose 6.7 per cent year-on-year to 1.9 Singapore cents. Net property income for the three months to June climbed 16.4 per cent to S$27 million, mainly due to higher rates achieved for office renewals and new leases in Singapore, as well as higher revenue...
Mainboard-listed construction firm Lian Beng Group said Wednesday its full year net earnings rose 43 per cent from a year earlier to S$17 million. This was on the back of a 58 per cent jump in revenue to S$308.4 million for the financial year ended May. Lian Beng said its business activity level remained high despite generally softer market conditions. The company secured five construction projects...
AFTER WEEKS OF watching property prices and private property sales burgeon, the government has made its stand fairly clear. It will not tolerate a property bubble this time around. Certainly, it won’t allow local property prices to get out of hands. National Development Minister Mah Boh Tan said today that Singapore was “monitoring the market closely” to prevent any froth and had the tools in hands...
The government is seeing some signs of speculation in the Singapore property market, according to National Development Minister Mah Bow Tan. Speaking on the sidelines of the topping out ceremony of the Marina Bay Financial Centre on Wednesday morning, Mr Mah said the government is monitoring the situation. It is uncertain if the buying momentum seen in recent months can be sustained, he added. "The...
Starhill Global REIT says it has achieved a distributable income of $18.4 million for 2Q 2009. Distribution Per Unit (DPU) for the period 1 April to 30 June 2009 was 1.90 cents, 6.7% higher compared to the 1.78 cents achieved in 2Q 2008. On an annualised basis, Starhill Global says the latest distribution represents a yield of 12%. Gross revenue in 2Q09 was $33.4 million, or 10.5% higher than that of...
Homegrown building construction group Lian Beng has posted a 43.3% gain in net profit to $17.2 million for the financial year ended May 31 (FY09), compared to $12 million in FY08. The record profit was achieved on the back of a 58.3% jump in revenue to $308.4 million, from $194.8 million in FY08. Lian Beng says its construction division remained its key growth driver, contributing the bulk of total...
The buoyant property market in the past six months has attracted not just home buyers but also mid-career professionals who have made the switch to become property agents. Industry watchers said there are about 26,000 housing agents in Singapore and this number is likely to go up to 40,000 if the positive market sentiment continues. During the lull in 2008, there were less than 20,000 agents. Since...
Singapore-listed Fortune REIT, which owns shopping malls in Hong Kong, said its distributable income for the second quarter dipped 0.7 per cent to S$14.7 million. Net property income for the three months ended June edged up slightly by 0.3 per cent to S$21.4 million. Distribution per unit for the first half of the year rose 5.9 per cent from a year ago to 19.6 Hong Kong cents. The REIT said higher...