Keppel Corp will extend the closing date of its offer to buy up the remaining shares of Keppel Land to March 26. The offer was due to expire on Thursday (Mar 12). As of Wednesday, Keppel Corp controls 80.8 per cent of the total number of issued shares. This is short of the 90 per cent level needed to take the property giant private. Earlier this year, Keppel Corp, the world's largest rig builder, offered...
General
While various proposals have been received on how to revamp the Rail Corridor for future use, there is "no rush" to develop the entire stretch at once, said Minister of State for National Development Desmond Lee on Wednesday (Mar 11). Speaking at the 2015 Committee Of Supply Debate, Mr Lee announced that the authorities are ready to launch a Request for Proposal (RFP) for the concept master plan and...
The Building and Construction Authority (BCA) will roll out a S$20 million scheme to spearhead the test-bedding of energy-efficient technologies in buildings. The move - called the GBIC-Building Energy Efficient Demonstrations Scheme (GBIC-Demo) - is the latest in encouraging the development of green building technologies. In a statement released on Wednesday (Mar 11), the BCA said the technologies that...
Rental prices for Housing and Development Board (HDB) flats fell 0.3 per cent in February from the previous month, while rents for private homes also continued to fall, according to SRX Property. Three-room and four-room flats saw rental prices decline by 0.8 and 0.6 per cent, respectively, while five-room and executive flats, in contrast, saw a pick-up in rental prices by 0.7 and 0.5 per cent,...
A residential land site at Jurong West Street 41 attracted nine bids, at the close of tender on Tuesday (Mar 10). MCL Land (Vantage) submitted the top bid of S$338.12 million for the 17,803.5-square-metre 99-year leasehold site. This translates to S$6,782.71 per square metre of the gross floor area (GFA). CBRE Research Head Desmond Sim said the number of bids received is "testament to the confidence of...
National Development Minister Khaw Boon Wan announced several new housing measures in Parliament on Tuesday (Mar 10). These included increasing the quota of new two-room flats set aside for singles and a review of the Studio Apartment Scheme. Mr Lim Sio Poh, 46, is getting ready to move into his new two-room flat in Bukit Panjang. He applied for the unit directly from the Housing and Development Board...
Resale prices of non-landed private homes were flat in February from the previous month, while resale volume remained low, according to flash estimates from SRX Property on Tuesday (Mar 10). Year-on-year, resale prices dropped 3.2 per cent from February 2014. Compared with the recent peak in January 2014, prices have declined 5.8 per cent, SRX said. Resale prices of private homes in the Core Central...
National Development Minister Khaw Boon Wan on Tuesday (Mar 10) reiterated that Singapore wants to see a "soft landing" for its housing market. 2014 was the first full year that home prices fell after several years of increase, amid Government measures to cool the property market. HDB resale flat prices slipped by six per cent, while private homes saw a four per cent decline. Some Members of Parliament...
Trade associations and chambers (TACs) will soon be housed under one roof with the setting up of a hub, the Trade Association Hub, at the former Jurong Town Hall, Minister of State for Trade and Industry Teo Ser Luck said on Monday (Mar 9). This is aimed at supporting the development of TACs, so that they can in turn help the small and medium enterprises (SMEs) in their restructuring journey. Mr Teo said...
The era of ultra-easy money is drawing to an end for Singapore mortgage holders, with domestic interest rates rising at their fastest pace in a decade in a country that already ranks among the world's most expensive places to live. The three-month Singapore interbank offered rate (Sibor), used to set floating-rate mortgages, climbed to 0.78756 per cent today (March 3). It has gained 33 basis points so...