Engine maker Rolls-Royce plans to build a new factory in Singapore making wide chord fan blades (WCFBs) used in military and commercial aircraft engines. The plant will be located at its Seletar Campus site alongside a previously announced facility, which will test and assemble Trent aero engines. Total investment in the Seletar Campus, including the new factory, will exceed S$700 million or 300 million...
2009
S$300 million will be pumped in to boost transport infrastructure within and leading into Sentosa. This involves several new projects, including building an intra-island cable way and a bridge linking Merlion Plaza to Resorts World. Come November next year, visitors will have yet another mode of entry to the island. They can choose to walk to the island via a new boardwalk. Said chief executive officer...
FED UP with the view outside your apartment window? Fancy being transported to the buzz of a New York street instead? If you live in one of James Law's "intelligent" apartments, you would be able to - literally - change the view outside your window to one from a variety of cities - in real time. Flashback to the first day of the new millennium, when James, an architect, announced he wasn't going to be...
EXPATRIATES in Singapore feel fairly secure about staying here despite the global economic downturn. A recent global survey by HSBC has shown that 91 per cent of 192 expatriates living in Singapore said that they have not considered returning home despite the downturn. This is higher than the global average of 85 per cent, said HSBC in its annual "Expat Explorer" survey released yesterday. More than...
Mainboard-listed Fragrance Group said one of its subsidiaries has bought a property at Eastwood Road for S$15 million. The free hold site has a total land area of some 28,000 square feet. It is zoned for residential development and has a maximum plot ratio of 1.4. Fragrance said it plans to develop the land parcel into a residential apartment building. It will fund the acquisition and the development...
Cove Development, which owns the Grangeford condominium off Orchard Road, has asked the Ministry of National Development to extend the deadline to remove all illegal partitions that had been erected at the property. Demolition works were supposed to be completed by Monday (27 July). But Cove only managed to recover all 171 apartment units on Saturday (25 July) after it obtained a Writ of Possession for...
CapitaLand said on Monday it would spend about S$330 million to fully subscribe to its entitlement in Australian unit, AustraLand's rights issue. AustraLand had announced a 7 for 10 rights issue at an issue price of 40 Aussie cents or about 47 Singapore cents. This is a 20 per cent discount from the firm's last trading price of 50 Aussie cents a share. CapitaLand owns about 59 per cent of AustraLand and...
Mainboard-listed Cambridge Industrial Trust (CIT) said on Monday it plans to raise up to S$28 million through a private placement of new units. It will issue the new units at a price of 39.2 cents each. The price represents a 5.5 per cent discount to CIT's last closing price of 41.5 cents. CIT said the number of units to be placed out has yet to be determined. Proceeds from the exercise will be used for...
A new S$1 million training centre for Singapore's retail industry has opened in the heart of the Orchard Road shopping belt. The 313@Somerset Training and Career Centre is run by Australian property firm Lend Lease with SPRING Singapore and the Workforce Development Council. The new Training and Career Centre is located across the road from the 313@Somerset retail mall and it aims to raise service...
Real estate developers in India think the worst may be over as property prices stabilise. Buyers are also returning, encouraged by the government's decision to provide cheaper home loans. India's real estate sector is showing its first signs of stability after a free fall that started last year. A series of interest rate cuts on home loans and a revival in optimism have encouraged developers to start new...