Property prices are expected to rise around ten to 15 per cent around the 100 new MRT stations to be built, analysts said. The government announced Friday that it would pump S$20 billion to double the rail network by 2020. Properties are going to be hot around the new 100 stations, with malls and public facilities expected to draw crowds to the stations. Property consultants are forecasting price...
General
In a massive new investment, the government will pump in another S$20 billion on new rail lines and extensions islandwide, Transport Minister Raymond Lim announced Friday. This is over and above the S$20 billion the government has already committed for the on-going Boon Lay extension, the Circle Line and the Downtown Line. Mr Lim said the new and extended lines will go to places as diverse as Marine...
Property developer Wing Tai has reported a 25 percent rise in half-time earnings to S$105 million. Draycott8 This is due mainly to higher contributions from the sale of its condominium projects. Revenue fell 52 percent to S$211 million. In the second quarter, earnings fell 19 percent to S$44 million, following a 59 percent fall in the topline figure to S$111 million. Wing Tai did not give a guidance...
The Ascott Group has reported an 8 percent increase in full-year earnings, in line with market forecasts. Net profit came in at S$177.3 million. The jump was due to an increase in rental rates as well as higher portfolio gains from asset divestment and revaluation. The owner-cum-operator of serviced residences said it is looking to further grow its portfolio in the next two years. The Ascott Group now...
HDB resale prices have gone up by a better-than-expected 17.5 per cent in 2007, the fastest rate since prices soared by 25 per cent in 1996, latest official figures by the Housing Development Board (HDB) showed. Most homes in Singapore have appreciated to the highest levels since 1996. The price of a three-room HDB flat was an average of S$149,000 in the last quarter while a five-room flat in Marine...
Private property prices will see slower growth in the first quarter of this year, amid the current upheaval in global financial markets and a possible US recession. That is according to property consultants who said prices will be supported by rentals which will continue to climb higher this year. Related Video Link - http://tinyurl.com/2ew98s There has been frenzied buying and selling in the financial...
A bidding war appears to be looming for diversified Straits Trading Company. The Lee family that controls OCBC Bank is making a counter-offer for shares in Straits Trading Company that it does not already own. The Lees, who already own 34 percent of Straits Trading, are offering to pay S$5.76 cash a share. This values Straits Trading at S$1.88 billion. The latest offer is higher than the one by rival,...
Property developer Evergro has reported full-year earnings that are sharply lower than the previous year. It booked a profit of S$196,000 compared to the S$7.5 million in 2006. Evergro says there was no divestment gain this time, after it recorded returns from selling a property company in the previous financial year. Also dampening the financial numbers were higher administrative and other expenses,...
Germany's SEB Group has bought 12 strata-title floors of the office building Anson 79. It is paying S$215 million to Farrell Asset Management for some 10,300 square metres of Grade A office space. SEB already owns another nearby Grade A office building Springleaf Tower. Anson 79 is a 23-storey building in Shenton Way and is within walking distance of Tanjong Pagar MRT station. It has an occupancy of...
There has been strong demand for the corporate hospitality suites which will be set up for the Singapore F1 race later this year. Singapore Cricket Club About three quarters of these suites, as well as the Paddock Club tickets, have been taken up. To capitalise on this, organisers Singapore GP is looking to rent out other choice locations along the track to provide more viewing options. These include a...