Singapore-listed hotel and property group Overseas Union Enterprise (OUE) plans to include Shanghai's Lippo Plaza in the initial portfolio of its proposed OUE Commercial Trust. In a stock exchange filing late Wednesday night, the company says OUE Commercial Trust will buy the 36-storey Lippo Plaza in Shanghai from Hong Kong-listed Lippo China Resources. Earlier, OUE has said that its commercial REIT...
General
The private property market in Singapore picked up momentum in September, with sales of new residences exceeding 1,000 units for the first time since June, figures released by the Urban Redevelopment Authority revealed today (Oct 16). According to the figures, 1,246 new private homes were sold last month, a big increase from the 756 sold in August and the 482 in July. It was also the highest number...
More Housing and Development Board (HDB) flats were being built in the last financial year compared to the previous year. This is according to HDB's annual report released on Wednesday. A total of 72,737 flats were being constructed in the last financial year (FY2012/ 2013), up from 56,938 units in the year before (FY2011/2012) -- a close to 30 per cent jump. HDB's net deficit before taking into...
With a slowing property market in Singapore, sectors linked to property sales are starting to feel the impact on their businesses. It is not all gloomy for these property-downstream companies. Some firms are still finding good opportunities in the private residential property market. A slew of cooling measures and loan curbs have slowed down property sales transactions in the third quarter this...
Commercial and industrial tenants in Housing and Development Board (HDB) properties will no longer be allowed to assign their premises to another party. The HDB announced this on Monday, in a move to weed out unhealthy speculation and rising assignment fees. Assignment fee is the amount agreed upon between the proposed tenant and existing tenant for the transfer of the property. The HDB has about...
The Housing and Development Board (HDB) will build four new neighbourhood centres in Punggol, Hougang and Sembawang in five years to boost the supply of HDB shops. It is also banning the assigning of its commercial and industrial tenancies to curb unhealthy speculation. In a statement on Monday morning, HDB said it is building the neighbourhood centres and boosting the supply of shops to keep in step...
Viva Industrial Trust, a Singapore business and real estate trust, said on Monday it would be raising S$365 million through an initial share sale to Chinese property tycoon Tong Jinquan and the public, Bloomberg News reported. Mr Tong, the chairman of Shanghai Summit Property Development, will purchase S$200 million of shares in the initial public offering as a cornerstone investor, the trust said in...
There has been strong response for the last executive condominium (EC) project for the year. SkyPark Residences, which was just launched on Saturday, has already received 500 online applications for the 506 units it has on offer. Located in Sembawang, it is the last EC to be launched until the third quarter of next year. Under restrictions introduced in January, developers have to wait 15 months...
Century 21 Singapore Holding announced on Friday it had partnered with Singapore real estate consultancy International Property Advisor (IPA) to expand the Century 21 presence here. IPA Key Executive Officer Ku Swee Yong will be appointed as Chief Executive Officer of Century 21 Singapore as well as Principal Advisor to Century 21 Hong Kong and Century 21 Macau. Within Singapore, IPA will operate as a...
More potential home-buyers are coming forward to get in-principle approval for loans, even before committing to property purchases. Industry players say this has been the trend since the Total Debt Servicing Ratio (TDSR) framework was introduced in June this year. Banks are now doing more to help ease the demands on potential home buyers and give them peace of mind during their house hunt. For...