The group making a takeover bid for Hotel Properties Ltd (HPL) has raised its offer price again. 68 Holdings - led by Singapore tycoon Ong Beng Seng and Wheelock Properties - is now offering S$4.05 for each HPL share, up from the previous S$4.00 a share. 68 Holdings had originally offered S$3.50 per share. This follows an agreement by 68 Holdings to buy 6.69 million HPL shares, representing 1.29...
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CapitaLand has raised its stake in CapitaMalls Asia (CMA) to 85.2 per cent, bringing it closer to crossing the 90 per cent level that would enable it to delist its shopping mall arm. CMA is one of Asia's largest shopping mall developers and operators, with interests in more than 100 shopping malls across Singapore, China, Malaysia, Japan and India. "We are pleased with the positive response towards...
Singapore-based marina club and property developer, ONE°15 is making its first overseas foray. It signed a memorandum of understanding on Monday with Vietnamese company Vung Ro Petroleum to develop an integrated marina resort in Vung Ro Bay, Vietnam. They aim to develop ONE°15 Vung Ro Bay Marina Resort into an international nautical hub. It will comprise a private members' club, marina berths,...
Plans for the upcoming Bidadari, Tampines North and Punggol Matilda housing areas have received "strong support" from the public, according to a survey conducted by the Housing and Development Board (HDB). In a statement on Monday (May 26), the HDB said close to 4,000 visitors participated in a survey conducted last August during the launch of the three housing areas. Of these, more than 9 in 10...
Singapore retains its lead in the transportation and infrastructure indicator in the latest PricewaterhouseCoopers (PwC) study on global cities, which helped it edge into third position overall behind London and New York. "The city-state climbs four spots to third place and also finishes first in the two areas it is well-known for - transportation and infrastructure and ease of doing business," Bob...
Hotel group Accor on Tuesday announced the purchase of 97 hotels in Europe through its HotelInvest business for a total of 900 million euros ($1 billion). The group is buying a first portfolio of 86 hotels, representing 11,286 rooms across Germany and the Netherlands, which have been operated by Accor since 2007 under the Ibis, Ibis budget, Mercure and Novotel brands. These hotels, worth 722 million...
CapitaLand's stake in CapitaMalls Asia (CMA) has crossed the 80 per cent mark, bringing it closer to attaining full control of its shopping mall arm. Southeast Asia's largest developer CapitaLand now controls approximately 81.3 per cent of CMA, after taking into account open market purchases and acceptances of the offer as at 5 pm on Tuesday (May 20), it said in a statement on Wednesday. On 16 May,...
Property assets make up 80 per cent of the total wealth of an average Singaporean, according to financial advisory firm Financial Alliance. And with Central Provident Fund (CPF) money being used for property purchases, savings meant for retirement are being locked up in real estate. Amid this backdrop, the Ministry of Manpower has said it will "review and make improvements" to the CPF...
The Housing and Development Board (HDB) will receive a total of 37 awards at the Building and Construction Authority (BCA) Awards ceremony at Resorts World Sentosa on Thursday (May 22). The awards ceremony recognizes developers and builders for contributions in shaping a safe, sustainable and high-quality built environment in Singapore. 23 of those awards will be Green Mark Awards, the highest number...
East Coast Park visitors can look forward to more open spaces, new family-friendly amenities, and a range of recreational options when work at Parkland Green and Marine Cove are completed. The enhancements by National Parks Board (NParks) include a reduction in infrastructure footprint so as to allow for more open green spaces. Parkland Green will open in September, while improvements at Marina Cove...