Inflation may not yet have peaked, warns Finance Minister Singapore’s inflation rate, already at a 26-year high, may not have peaked and policy-makers must be ready to respond to unexpected economic developments, Finance Minister Tharman Shanmugaratnam said on Friday “It’s too early to say that inflation has peaked,” Mr Shanmugaratnam told reporters at a meeting of finance ministers from the...
General
Orchard Road is set to undergo a facelift on 28 April. The revamp is expected to be completed next February. The S$40 million makeover will include state-of-the-art lighting to highlight Orchard Road's tree-lined boulevard, new creative spaces for events and a new pedestrian mall. Key events such as the annual Great Singapore Sale and Christmas In The Tropics will continue to be held in Orchard...
Jurong is set to be home to the largest commercial hub outside the city centre. The Jurong Lake District – made up of two precincts, Jurong Gateway and Lakeside – will offer a potential development area of 360 hectares or about the size of Marina Bay. National Development Minister Mah Bow Tan announced this when he unveiled part of the government's ‘Draft Master Plan Review 2008’. The blueprint...
Heralding the dawn of a new era of sheer sophistication is Parc Centennial, a freehold development location at prestigious District 9. Mere minutes from Newton and Novena MRT Station, every urban convenience possibly desired by working professionals and the family-oriented alike, are accessibly located at your doorstep. Whether it is close proximity to prestigious institutions like the Ango Chinese...
More signs of Singapore’s property market slowing: Tenders for a plot of government development land have closed, attracting one of the lowest bids in recent years. The residential site bordering Choa Chu Kang Road and Woodlands Road on offer attracted just two bids. The highest offer came from an arm of Peak Properties, which is controlled by the Wee family. It offered $61 million, which works out to...
Higher plot ratios and integrated developments with greenery and other features are among the wish lists of industry players, who are anticipating significant changes to the government's new Draft Master Plan. The master plan, expected to be released soon by the Urban Redevelopment Authority, will guide Singapore's land use over the next 10 to 15 years. Buildings in Singapore may get even taller, if...
Minority owners of the Futura condominium on Leonie Hill Road have withdrawn their appeal against the en bloc sale of the property. The reasons for the decision have not been disclosed. Futura was sold to City Developments' subsidiary City Sunshine in October 2006 for S$287 million. This means each unit owner will get between S$3.7 million and S$9.4 million. However, some minority owners complained that...
Home-grown interior design firm Design Studio is joining hands with the world's fifth largest interior fit-out company Depa United Group. Their joint venture, DDS Asia Holdings, is targeting business opportunities in the hospitality and commercial sectors. DDS Asia has a share capital of $10 million, and will go for projects worth over $50 million. Work has already begun on some $54.4 billion worth of...
Rentals for HDB and mass market private apartments are set to rise in the coming years, with more foreign workers heading for Singapore. Property agents expect rents to climb by about 10 percent this year. They say HDB flat-owners could gain from the spike in demand. Singapore’s two integrated resorts will be ready in the next two years. Besides attracting more tourists, they are also expected to...
Developing economies in East Asia, including Indonesia, Malaysia and Thailand, will grow at their slowest pace in six years in 2008, according to the latest forecast from the World Bank. It said growth is being dragged down by the US sub-prime mortgage crisis and a drop in exports to the US. The World Bank also warned that governments in the region need to be watchful over rising inflation. Trade with the...