Private property developer Far East Organization has appointed Mr Lucas Chow as an Executive Director. The appointment from August, will see Mr Chow providing strategic counsel to Far East Organization’s Chief Executive Officer, Mr Philip Ng, on new business growth and brand development across the company's diverse real estate portfolio. “Lucas brings an excellent record of accomplishments in...
Developer News
Singapore-listed property counters fell yesterday on concerns about more cooling measures in China to rein in stubbornly high housing prices. At the close of market, shares of Keppel Land were down 3.1 per cent at $4.32, CapitaLand fell 0.8 per cent to $3.58 and Yanlord Land dipped 1.9 per cent to $1.54. "In general, most people would not want to put their money into property counters in the short term,...
The Urban Redevelopment Authority (URA) has plans to clamp down on developers who use misleading showflats to lure flat buyers. Replying to queries from Channel NewsAsia, URA said it is reviewing the law -- the Housing Developers (Control & Licensing) Act and Housing Developers Rules -- governing housing developers so that flat buyers have more accurate information on housing projects. According to...
Real estate giant CapitaLand is exploring the idea of building more schools for underprivileged children in Asia. These are likely to be in India, Vietnam and other Southeast Asian nations. CapitaLand already has 15 such schools in China. The schools have dormitories for students, which save them the trouble of trekking long distances to classrooms in rural areas. The buildings also help to keep...
United Overseas Land Group (UOL Group), has appointed Mr Liam Wee Sin as group president. He takes over from Mr Lian Kheng Gwee, who is currently also the group chief executive of UOL. Mr Liam, who is 51 years old, was the chief operating officer of UOL Group from 2006 to December last year. He joined UOL in 1993 as project manager and worked his way up through senior and top management in the...
CapitaLand Residential chief executive officer Wong Heang Fine has been appointed the new president of the Real Estate Developers' Association of Singapore (REDAS). Sources say that this followed Amara Holdings CEO Albert Teo's decision to decline the position. Mr Wong will be president for the REDAS management committee term of 2011 and 2012, taking over from Mr Simon Cheong, the chairman of SC Global...
Singapore-listed Tuan Sing said its full-year net profit rose 53 per cent to S$68.2 million for the period ended December 31. The higher profit is on the back of strong full-year revenue, which is up 24 per cent to S$274 million. The bulk of its revenue came from its industrial services, which benefited from the strong performance of commodities trading, and also from services rendered to an Indonesia...
Amara Holdings CEO Albert Teo will be the new president of the Real Estate Developers' Association of Singapore (Redas). Redas' annual general meeting was held last week, when the new management committee was elected. Following that, the president was picked by the management committee. Mr Teo is understood to be not present at last week's election but was represented. The management committee is...
Wing Tai has posted a 142 per cent jump in net earnings for the second quarter ended Dec 31, 2010 to $53.9 million, from $22.3 million a year earlier. The property and retail group's Q2 revenue rose 13 per cent year on year to $197.8 million. For the first half, Wing Tai achieved a 23 per cent year-on-year increase in net profit to $84.1 million, despite a 27 per cent drop in revenue to $328.8 million....
A 10-unit boutique development at Robin Road, off Bukit Timah Road, has been sold to Sing Holdings for S$47 million. Credo Real Estate said all the owners at the development, known as Robin Star, penned their agreement to the collective sale by private treaty. The land area measures some 24,360 square feet. Under the 2008 Master Plan, the site is zoned for residential development up to a Gross Plot Ratio...