The Urban Redevelopment Authority (URA) has launched the sale of two transitional office sites at Scotts and Anthony Roads in the Newton area. The sites are being released under a government programme to meet the near-term demand for office space. The two parcels are located next to the Newton MRT station. The first site has an area of some 0.86 hectares and can yield a maximum gross floor area of about...
General
Some 25,000 households, or 70 per cent, of two- and three-room flat owners will benefit from HDB's new Lease Buyback Scheme. Under this scheme, the Housing Board will buy back the tail end of the flat lease from elderly owners, to help them unlock the value from their flat. Details were announced by National Development Minister Mah Bow Tan in his speech Low income elderly households can sign up for the...
All 14 town councils run by the People's Action Party (PAP) will not be increasing their Service and Conservancy (S&C) charges this year. The freeze applies to both residential and commercial properties, and is aimed at lessening the financial burden of the residents due to inflation. The town councils announced their decision on Thursday in response to the government's call for town councils to hold...
Qingdao Construction Group Corporation has won a Housing and Development Board (HDB) tender to build public housing flats at a site in Bishan Street 24. It submitted a tender price of S$135,888,777. The site is the fourth to be offered under HDB's Design, Build and Sell Scheme (DBSS) where the developer bids for the land, designs, builds and sells the flats as public housing. The flats have a 99-year...
Luxury resorts and spa operator Banyan Tree is reaping more rewards from its overseas expansion. Banyan Tree Bintan (file picture) Its net profit for the full year jumped 142 percent to $102 million. This was achieved on the back of a 26 percent rise in revenue to $422 million. The bottomline was driven by Banyan Tree's hotel operations and property sales segments, coupled with a one-off negative...
Developer Allgreen Properties says its full year net profit jumped more than six fold to S$493 million. Its earnings were boosted mainly by fair value gains on its investment properties. Excluding the fair value gains, net profit would have nearly doubled on year to S$145 million. Revenue rose 19 percent to S$569 million. The company benefitted from higher sales of properties as a result of the buoyant...
Property developer City Developments (CDL) has booked record full year earnings, thanks to strong home sales and hotel revenues. Net profit for 2007 more than doubled on-year to S$725 million, beating market expectations. Revenue rose by 22 percent to S$3.1 billion. CDL says it will not rush into new residential launches in the coming months but will closely monitor market conditions. It has been a...
Location: Martin Place (District 9) Tenure: Freehold Year of Completion: 2011 Total Units: 302 in two 33-storey residential towers Unit Types: 1 bedroom ~ 592-646 sqft 2 bedroom ~ 1,044-1,163 sqft 3 bedroom ~ 1,421 sqft 3 + study ~ 1,722 sqft 4 bedroom ~ 1,894-2,002 sqft Penthouse ~ 3,326 | 3,380 | 3,434 sqft Facilities: Swimming Pool (Olympic-size 50m x 25m; 8 lanes) Children's Pool Clubhouse with...
Grand Duchess at St. Patrick's - an Architectural Masterpiece, infusing the past and present to form a rich fusion of heritage and modernity. Designed with a blend of Straits Chinese architecture along with British Colonial styled influences, Grand Duchess immaculately compliments the 2 conserved bungalows with five modern contemporary buildings amidst a lush garden landscape, providing an enchanting...
But banks now have to deal with slowing economy A heart-thumping sub-prime ride for local banks may be nearing a halt after two quarters of hefty provisions for risky investments. But investors looking to banks repeating the double-digit earnings gain of recent years could be disappointed. A slowing economy is likely to put a squeeze on interest margins and earnings growth, suggesting 2008 could turn out...