The Housing and Development Board is offering 494 four-room flats at Punggol Spring under the Build-To-Order (BTO) System – the first BTO launch for this year. HDB has received 278 applications so far. Interested applicants have until 17 March to apply for a unit there. Prices of units range between S$204,000 and S$259,000. HDB advises those unsuccessful in recent sales exercises to consider applying...
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Citibank is gunning for more high net worth clients with a new S$3.5 million high-tech centre in Singapore.The centre will have private conference rooms, video conferencing facilities and a plush ambience akin to a five-star hotel catering to high net worth clients. Citibank believes such clients form a growing market, which will help it compete in the lucrative banking segment. Such individuals typically...
Ratings agency Moody's Investors Service has placed two key debt ratings for Macquarie MEAG Prime REIT (MMP REIT) under review for possible downgrade. The ratings in question are MMP REIT's Baa1 corporate family and Baa2 senior unsecured debt ratings. Moody's says the move has been prompted by MMP's announcement on 19 February to undertake a comprehensive strategic review of the REIT. The review seeks...
Keppel Land, one of the largest property developers in Vietnam, has unveiled concept plans for Phase Two of its Saigon Centre in Ho Chi Minh City. This was presented to President S R Nathan and Vietnam's Deputy Prime Minister Hoang Trung Hai in Hanoi on Tuesday. In the new phase, Keppel Land is going for an 88-storey mixed development which will house residential, retail and office space, and will also...
ComfortDelGro has introduced eight more premium bus services, providing direct and faster connection from suburban housing estates to city areas in Robinson Road and Shenton Way. From February 25, the buses will service estates in Ang Mo Kio, Bukit Panjang, Choa Chu Kang, Punggol and Sengkang. Thereafter, the services will be extended to Bukit Batok in the coming weeks. Residents need only pay a...
Singapore's annual inflation rate hit a 25-year high of 6.6 percent in January, according to Department of Statistics (DOS) data released on Monday. The inflation rate, as indicated by the consumer price index (CPI), was the highest since the 7.5 percent hit in March 1982. From a month earlier, consumer prices in January rose 1.5 percent on a seasonally adjusted basis, the DOS said. The Ministry of...
Singapore is stepping up efforts to position itself as a hub for Islamic banking. In the recent Budget, a 5 percent concessionary tax rate was announced for income derived from qualifying Shariah-compliant products. Industry watchers said this would help to draw in key global players. The global Islamic banking sector is estimated to be worth around US$500 billion. And Singapore is making yet another...
Singapore's real estate investment trust (REIT) market is holding up, despite the current weak market conditions, according to the Asian Public Real Estate Association. It said that Singapore REITs are attractive to investors because of their well-diversified and cross-border assets as well as the good regulatory framework here. Singapore is a key player in Asia's REIT space. Together with Japan and Hong...
Property developer CapitaLand has gained control of 96.7 per cent of the Ascott Group. With this level of acceptance, CapitaLand can now compulsorily acquire the remaining shares of Ascott that it does not own. The move will allow CapitaLand to delist Ascott and take it private. But Ascott shareholders, who have yet to accept the offer, can still do so before the closing date of 11 March...
Youths will have a new place to hang out in the heart of the city by the end of next year. The *scape building being built next to Cathay Cineleisure Orchard will be a place where Singapore youths can express themselves. Minister of Community Development, Youth and Sports, Dr Vivian Balakrishnan, said the building will also be involved in the Youth Olympic Games in 2010. Dancing, sports and music are...