National Development Minister Khaw Boon Wan has announced plans for a new integrated development in Woodlands. The new development is the first of its kind and is purposefully designed as a convenient one-stop hub with wide-ranging facilities to cater to the diverse needs of the community. Located next to Admiralty MRT station, the development will comprise facilities such as shops, a new-generation...
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ERA Realty Network, the largest real estate agency in Singapore, has been sold to Indonesian private equity firm Northstar Group for over S$100 million, months after owner Harry Chua put it up for sale. According to media reports, the master franchise rights to the ERA name in Asia Pacific was sold for less than the S$150 million price tag that Chua's Hersing Corporation is said to have asked...
Executives at Suntec Real Estate Consultants have their eyes set on increasing the company’s presence in Asia and are banking on the Singapore brand to make a name in developing countries that offer the potential for higher returns. Formerly known as Chesterton Suntec International, the company was renamed after its majority shareholder, Suntec Investment, bought over the company fully from partner...
A freehold boutique development in a popular downtown location marking the start of the new Waterfront City masterplan, Onze comprises 56 apartments and 13 ground level commercial units within a 14 storey complex, complete with sky terrace and rooftop swimming pool. Architecturally, the sleekly simple and yet fluidly dynamic lines of the box-based building features are an artistic statement set against the...
About two weeks ago, ratings agency Moody’s Investors Service issued what I thought was a timely reminder to investors of the extent of risk the Singapore economy had been exposed to within a short few years. Moody’s downgraded the outlook for Singapore’s banking system from stable to negative, citing rapid loan growth and rising real estate prices both in the country and the region. It said...
Companies are again rushing to list real estate and other assets in Singapore, with billions of dollars in deals that are putting the city-state on track for its best year for initial public offerings. The firms are listing in the form of trusts, which investors find attractive because they pay high returns and assured dividends. In the past week, two real estate investment trusts (REITs) raised more...
Sentiment within the real estate market has been hit hard by various cooling measures implemented by the government, with industry players anticipating an unfavourable business climate for the rest of the year. A net weighted balance of 41 per cent of property firms surveyed by the Department of Statistics expect business to slow down in the second half of the year, due to the recent implementation of...
CapitaLand has saved S$35 million in utilities costs since 2009, according to the company's 2012 Global Sustainability Report. CapitaLand was one of the first companies in Singapore to voluntarily publish its sustainability reports. The 2012 report covers its group-wide property portfolio in more than 110 cities in over 20 countries. CapitaLand received a Level B+ rating from the independent Global...
Demand from singles for two-room Build-To-Order (BTO) flats continues to climb in the third day since the Housing and Development Board's sales launch. This is the first time that singles are able to apply for a flat directly from the government. Overall, as of 5pm on Thursday, there were 29.8 single applicants for each two-room unit available. There are 519 new two-room flats in Sengkang and...
The Council for Estate Agencies (CEA) and the Consumers Association of Singapore (CASE) will kick off a new series of quarterly seminars on the property sector this month, with the first seminar featuring industry experts who will speak on topics such as the responsibilities of salespersons, financing options for properties in Singapore, as well as buying overseas real estate. Mr Dennis Tay, the Chief...