Australian construction company McConnell Dowell has clinched the contract to build the Beauty World station at Stage 2 of the Downtown MRT Line. The Land Transport Authority (LTA) says the S$339.88 million project, scheduled to commence in the second quarter of the year, is targeted for completion in 2015. The Beauty World station is located along Upper Bukit Timah Road, off Jalan Jurong Kechil. It...
2009
Two Singapore-listed developers are offering a buyback scheme for a new condominium project in Bangkok. Under the deal, buyers who are not satisfied with their units at The Surawong can sell them back to the developers at 95 per cent of the purchase price. Developers Tee International and Hup Soon Global are launching the project in Singapore on Friday. The Surawong comprises 52 freehold units, ranging...
The average global hotel price per room fell some 12 per cent last year, according to the latest Hotel Price Index from Hotel.com. This is the first on-year drop in room prices in five years for the Asia Pacific region. Compared to 2007 prices, room rates in the Philippines, New Zealand and Australia fell most significantly at between 22 and 35 per cent. Many Asian cities saw substantial drops, with...
The government is reviewing ways to strengthen the regulatory framework for housing agents. Speaking in Parliament on Tuesday, Senior Minister of State for Finance and Transport, Lim Hwee Hua, said government bodies - including the Housing and Development Board and the Finance Ministry - are carrying out a review on how to raise the overall professional standards of housing agents here. Mrs Lim said:...
ION Orchard, one of Singapore's largest shopping malls, is set to open this July amid the dismal economic outlook and falling consumer confidence. In a filing to the Singapore Exchange, CapitaLand said tenants have already committed to lease 80 per cent of space in the mall. 60 per cent of the retail space will be devoted to flagship stores and new-to-market brands including Boucheron, Dsquared and Diane...
Bukit Panjang will be among the first few places to kick off the Neighbourhood Renewal Programme aimed at upgrading older HDB estates. S$6 million has been set aside to rejuvenate the Cashew division in the area. Nearly 1,700 homes in the Cashew division will benefit from the Neighbourhood Renewal Programme. In the pipeline are more cycling and jogging tracks, covered linkways and residents'...
Designed with a Mediterranean theme, Mi Casa is a perfect getaway for those who love to come home to resort style living everyday. With the Choa Chu Kang MRT and LRT station, bus interchange and Lot One shopping mall mere minutes away, this new condominium is truly one to look forward to, making it the only private residential development in the vicinity. Located at Choa Chu Kang Drive, other recreational...
Four industry bodies in Singapore have banded together to battle the current downturn. The Singapore Retailers Association, the Restaurant Association of Singapore, the Singapore Jewellers Association, and the Textile and Fashion Federation have pledged to share information and create a unified stance on matters common to their industries. In a joint statement, the four industry bodies say they have tied...
CapitaLand said its S$1.84 billion rights issue was 1.22 times oversubscribed. Southeast Asia's largest property developer first announced the fundraising exercise last month. It offered one rights share for every two existing shares at S$1.30 each. CapitaLand said its major shareholder Temasek Holdings took up its entire 40 per cent allotment of the rights shares. The rights shares are expected to be...
SINGAPORE Land Authority (SLA) deputy chief executive Vincent Hoong will become chief executive on May 1, the government said yesterday. Mr Hoong, 51, takes over from Lam Joon Khoi, who has been SLA's chief executive since May 1, 2005. Mr Lam, 50, will move to the Ministry of Environment and Water Resources as deputy secretary. An SLA statement yesterday said the statutory board initiated several...