"Last year, I was your real estate agent. This year, the real estate market is no good, I have upgraded myself, I have become a financial planner," quipped Prime Minister Lee as he spoke on retirement adequacy for Singaporeans in his National Day Rally on Sunday (Aug 17). Mr Lee says Singapore has good schemes to provide assurance in retirement - namely through the Central Provident Fund (CPF) and home...
General
A new Jurong Lake Gardens, a revamped Science Centre, and possibly the terminus for the Kuala Lumpur-Singapore High Speed Rail - major updates for Jurong announced at Prime Minister Lee Hsien Loong's National Day Rally speech on Sunday (Aug 17). Jurong has been dramatically transformed from a swamp area into an industrial town over the years. The most notable upgrade was the Jurong Lake District in...
Singapore's sixth rail line will start at Woodlands before heading towards the East Coast, and will have 31 stations spanning about 43km, Transport Minister Lui Tuck Yew announces. New stations include Marine Parade, Siglap and Tanjong Rhu. The country's sixth rail line - the Thomson-East Coast Line (TEL) - will be fully operational by 2024, the Land Transport Authority announced on Friday (Aug...
The biggest immediate risk facing China’s economy is about to get worse as a reluctance among some developers to cut prices is worsening a housing glut that threatens to extend a slide in construction that has already weighed on growth. “Developers have been unable to build up adequate client interest as buyers are still waiting on the sidelines. They are also worried that excessive price...
Termite infestations, rising damp and corroded metal parts were some of the problems architect Lee Soo Khoon had to deal with as part of the team from the then Public Works Department (PWD) that was commissioned in 1995 to convert the former police station and barracks on Hill Street into the headquarters of the then Ministry of Information and the Arts. But the challenges came as no surprise as they...
Parents looking for a home near a school of their choice so that their children may stand a better chance of acceptance need not buy in the neighbourhood as it may sometimes be better to rent the property. By the end of this month, the Ministry of Education (MOE) will complete this year’s Primary One Registration Exercise. If you are a parent, where you live could affect your child’s chances of...
City Developments Limited's (CDL) executive chairman, Kwek Leng Beng, on Thursday (Aug 14) said there is still upside in the Singapore office and hotel segments. Looking ahead however, the developer will accelerate its push for overseas expansion and tap new product opportunities. SINGAPORE OFFICE AND HOTEL SEGMENTS The limited number of new prime office buildings in Singapore has helped to boost...
City Developments (CDL), Singapore’s second-largest property developer, said on Thursday (Aug 14) its second-quarter net profit fell 32.8 per cent from a year ago, mainly due to divestment gains in 2013. Net profit for the three months ended Jun 30 was S$137.9 million, down from a restated S$205.1 million during the same period last year. Property development was the main contributor to earnings,...
Property group UOL will embark on its first major development project in London following the purchase of a prime development site in Bishopsgate for £97 million (S$201.9 million). The Singapore-listed developer bought Heron Plaza, seller Heron International said in a statement on Thursday (Aug 14). UOL has consent to build a five-star hotel, residential and retail development that is up to 43 stories...
While real estate industry players understand the Government’s intention in keeping the property cooling measures intact, it is still worth reviewing the curbs as some may have become “redundant” given how effective the Total Debt Servicing Ratio (TDSR) has been in keeping prices in check. That was the takeaway from a discussion at the annual National Real Estate Congress on Tuesday (Aug 12),...