The World Bank forecasts a slight slowdown for the Singapore economy this year. Speaking to Today during the launch of the World Bank’s 2008 Global Economic Prospects Report yesterday, Mr Hans Timmer (picture), lead economist and manager of the Global Trends team in the World Bank’s Development Prospects group, said: “The outlook for Singapore is still very strong performance. Not as strong as 2007...
General
Where clean lines and form merge with innovation Leonie Suites is a 32-storey condominium with sleek glazed modern architecture located at the prime residential area at Leonie Hill, directly behind Orchard Cineleisure and Ngee Ann City mall. Leonie Suites consists of 97 stylish units with only 4 apartments per floor. The living area has a spacious balcony and the master bedroom has full glass curtain...
Situated in the heart of Prime District 11, Pavilion II redefines the way we live. An architectural landmark of two 33-storey towers, this 180-unit freehold development affords pavilion living with magnificient 270 degree south-facing views of the city. Come home to Pavilion II, where city living and serenity are in perfect harmony. Location : 23, 25 Akayb Road (District 11) Developer : UOL Development...
There is now a free website that gathers up-to-date news and information on all legal matters. It is called “Singapore Law Watch” (www.singaporelawwatch.sg) and has been developed by the Singapore Academy of Law. The website is updated every weekday and provides content like headline news relating to the legal practice here. It uses sources like the TODAY newspaper. It also has updates on new...
The boom in the economy for 2007 has contributed to a 30 percent hike in demand for household renovations. And industry players said consumers are looking for more luxurious, branded designs. To cope with growing demand, contractors and interior designers are increasing their prices by as much as 30 to 50 percent. Farok Majeed, chairman of Renovation and Decoration Advisory Centre, said: “Generally...
The inflation picture will get worse before it gets better - that is the message from UOB in a forecast given on Wednesday. It said flooding in many agricultural areas has reduced food supplies, driving up prices of necessities like wheat and coffee products. There are also other domestic factors at play. The hike in taxi fares was one reason why UOB increased its inflation forecast for 2008 - to...
Resilience in developing economy is helping to cushion the current slowdown in the United States, according to the World Bank in its latest Global Economic Prospects Report. Real GDP growth for developing countries is forecast at 7.1 percent this year, compared to the 2.2 percent for high-income countries. Global economic growth is expected to be moderate this year – the World Bank is looking at a 3.3...
A tie-up between Ho Bee and Malaysia’s IOI Properties has clinched the last prime condominium site on Sentosa for S$1.1 billion. The price for the Pinnacle Collection works out to S$1,822 per square foot per plot ratio. Ho Bee will have a 35 percent stake while the remaining interest will be held by IOI. The 99-year leasehold site covers 232,000 square feet and has a plot ratio of 2.6. The...
Remaining units at upmarket waterfront residence, Reflections at Keppel Bay, are expected to set new price benchmarks for condos in the harbourfront area. This bullish view came from its joint developer Keppel Land. The units released under phase one of the project last year had already set benchmark prices for the west coast. Mirroring the buoyant property market, Reflections at Keppel Bay set new...
With rising inflation and escalating asset prices, prospective homebuyers should take advantage of relatively low interest rates to finance their purchases, according to UOB’s head of loans Kevin Lam.Mr Lam said the economy had developed into a “negative interest-rate situation”, where asset prices rise very quickly while interest rates remained low.“With interest rates at 3 to 4 per cent,...