Iconic projects around Dubai belied its ambition to turn barren desert into a world class destination. The Palm Jumeirah, fanning out into the Arabian Gulf, is hailed as a symbol of Dubai's growth, innovation and vision for the future. Palm Jumeirah It is one of the world's largest man-made islands, covering 560 hectares or more than 600 football fields. Built entirely on reclaimed land, it is also the...
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Expected to list on SGX by middle of the year. More than a year since its decision to divest its industrial properties, JTC corporation - Singapore’s biggest industrial landlord - has appointed Mapletree Investments to establish and manage a real estate investment trust (Reit). The Reit is expected to list on the Singapore Exchange by the middle of the year, subject to market conditions, said...
Even as property prices come off their peaks, sector participants are keeping cautious, with Macquarie MEAG Prime Reit's manager becoming the latest to say it will hold off making acquisitions for now. The uncertain mood brought on by turbulence and volatility in financial markets is curbing enthusiasm for property around the world. "We have been shy of making acquisitions at the wrong price. So far, we...
Singapore and China officials have held their first joint working meeting on the mega Sino-Singapore Eco-City project. Besides preservation and restoration of natural ecology, green consumption and low carbon emissions, it is social cohesion that tops the list of features in the eco-city, said Singapore's Minister for National Development Mah Bow Tan. Grand plans are in store for the Sino-Singapore Tianjin...
Demand for JTC's industrial space jumped to a record 880,000 square metres in 2007, thanks to a strong economy. Singapore's largest industrial landlord said take-up for its ready-built facilities reached nearly 215,000 square metres. This was about 20 per cent higher than the record set in 2005. A new high was also set for prepared industrial land with take-up at over 340 hectares. Occupancy for...
Life insurance firm Prudential is expected to save S$1.2 million a year in rent for the next 15 years when it moves into a transitional office site at Scotts Road. The site, which is slated to be ready in September, will house 2,500 staff. The target to construct the S$35 million, four-storey building by September is a challenging one given the resource crunch in the construction sector. Developer...
Prime Minister Lee Hsien Loong Thursday launched the University Town project at the National University of Singapore (NUS), which will also be the site of the Youth Olympic Village if the country wins the bid to host the Games. The government has confirmed that the project has been given top priority and will be completed by 2010. According to the Ministry of Community Development, Youth and Sports, the...
Companies wary of acquisitions amid market uncertainty EVEN as property prices come off their peaks, sector participants are keeping cautious, with Macquarie MEAG Prime Reit’s manager becoming the latest to say it will hold off making acquisitions for now. The uncertain mood brought on by turbulence and volatility in financial markets is curbing enthusiasm for property around the world. “We have...
DOHA, Qatar : It has been dubbed the "Venice of Qatar"; a project called "The Pearl-Qatar" is an upscale Riviera-style development, and when completed in 2011, the project will be home to some 40,000 residents. Investors from 45 countries have flocked to the project to snap up properties there, but real estate is not the only attraction for Singapore companies. With its mix of Venetian charm and Arabic...
The government will spend S$14 billion to improve Singapore's road infrastructure over the coming years. The money will go towards building the new North-South Expressway, the earlier announced Marina Coastal Expressway, widening the Central and Tampines Expressways, and improving various interchanges. The Transport Ministry is optimistic the changes will soften the traffic gridlock. The go-ahead has...