Shares of CapitaLand took a hit on Tuesday – giving up 5 percent following news it was making a move to gain total control of the Ascott Group. The developer is offering S$1.73 a share for all the remaining shares of the serviced residence operator that it did not already own. That is 43 percent higher than Ascott’s last closing price, leading some analysts to suggest that the offer might have been...
General
MM Lee predicts another 10 years of prosperity Minister Mentor Lee Kuan Yew, gazing into the future, sees continued prosperity in Singapore over the next five to 10 years, even if there is a slowdown in the United States and Europe. Predicting that China and Europe will grow between 8 to 10 per cent, Singapore will - with the integrated resorts and Formula One coming on stream - be at a new level after...
A dearth of supply and high demand from businesses expanding in the region drove up prices so much that Singapore recorded the second highest annual growth in office occupancy costs in the world last year. Annual office occupancy costs here rose 93 per cent to US$16,220 ($23,275) per workstation, just behind Moscow’s 95-per-cent growth, according to real estate consultancy DTZ Debenham Tie Leung’s...
High price of DBSS flats mean buyers may have to spend a significant portion of their lives paying off loans THE recent launch of City View @ Boon Keng and the identification by the Housing and Development Board (HDB) of three more sites in Simei, Toa Payoh and Bedok for such developments has taken the price of public housing to a new level. When compared to other private properties in the area, it seems...
Weaker US dollar pushing up cost for Las Vegas SandsLAS Vegas Sands (LVS) said that despite the constricted credit market, it has secured more than US$3.7 billion ($5.3 billion) in loans to build Marina Bay Sands, its proposed integrated resort in Singapore. The financing package for the complex also includes a capital contribution of about US$558 million in equity from LVS, according to a United States...
A true escapist therapy, you need little persuasion to surrender to the delicious lifestyle residing in it. With 62 units articulately developed in a 25-storey vertical paradise, every level spells 3 magnetic apartments where nothing ordinary is spared. The overriding feeling of freedom and joy everyday, you’re promised the intrigue. With 62 units articulately developed in a 25-storey vertical...
Some 8,000 people were at the sales launch of City View @ Boon Keng, the second batch of condo-style public apartments under the HDB’s Design, Build and Sell Scheme. And so far 1,100 people have applied to buy their dream homes in the 714-unit development, undeterred by the high average cost of $520 per square foot. City View @ Boon Keng is located on the city fringes and is within walking distance of...
The legal profession is forming a committee to find solutions to the problem of errant lawyers siphoning clients’ monies. This is a further response to recent cases where lawyers were involved in shady real estate deals that have gone bad. This was announced at the opening of the Legal Year 2008. It is an annual tradition for the Chief Justice to open a new legal year at the start of a new year. Apart...
The Singapore Land Authority (SLA) has introduced a new open bidding system for a fair and transparent allocation of residential state properties. It will put up some 36 properties under this system in the first half of this year. The properties include a bungalow on Hyderabad Road with a guide monthly rent of S$13,500 and an apartment on Clemenceau Avenue North with a guide rent of S$1,150. In October...
Hong Leong Holdings, the privately-held property arm of conglomerate Hong Leong Group, has officially launched Aalto, a luxury residential development at Meyer Road. The freehold development sits on a 12,500-sq-m site and comprises two 27-storey blocks. It boasts unblocked views of the sea from the apartments, all of which are served by private lifts. About 60 per cent of the 196 units have been sold...