Interest rates in the US and in turn, Singapore, are likely to pick up over the next one to two years, said DBS CEO Piyush Gupta. This means now could be a particularly good time for borrowers to lock in loans at current interest rates. Borrowers can look at switching from floating to fixed rate loans, added Mr Gupta. But that is a hard appeal to make to Asian investors, who prefer not to fix...
General
Singaporeans keen to look for a property in Malaysia may no longer need to travel across the Causeway to make a booking. More Malaysian developers are setting up their sales office and showrooms in Singapore. Following the opening of its sales office in Shanghai last year, Mah Sing Group has opened its second overseas gallery in Singapore to cater to increasing demand from investors here. Mah Sing...
CapitaMalls Asia Limited has won a tender to acquire Grand Canyon Mall in Beijing, China for RMB 1.74 billion (S$356.6 million). The acquisition is subject to approval of the Chinese government. In a news release, the company said the Grand Canyon Mall is an operating mall located in the Fengtai District. The area has a population of about 2.2 million and is one of six core districts in...
Lush Acres, a new 380-unit executive condominium (EC) project in Sengkang, has received strong interest from home hunters. City Developments says the project has been oversubscribed by 1.6 times since it opened for application over the weekend. Application closes on 21 July and bookings will be conducted on 17 August. In view of new EC guidelines introduced earlier this year, Lush Acres will not...
Demand for new private homes in Singapore rose in June, according to latest data from the Urban Redevelopment Authority (URA). 1,806 new units were sold during the month, up 24 per cent from May, when 1,455 units were sold. Including executive condominiums (ECs), 2,119 new homes were transacted in June, compared to 1,912 units sold in the previous month. The strong sales was driven primarily by...
Hong Kong home prices fell the most in four-and-a-half years in the week ended July 7, on concerns that interest rates will begin to rise if the US Federal Reserve phases out its monetary easing program later this year, the Bloomberg news agency reported. Prices fell 1.8 per cent during the week, the most since November 2008, according to an index compiled by Centaline Property Agency, the city’s...
Overseas Union Enterprise, a Singapore-listed property firm controlled by Indonesia’s Riady family, is seeking to raise up to S$614 million by listing a hospitality real estate investment in Singapore, according to a prospectus for the deal. The company will offer 434.6 million shares to the public and institutions, and an additional 247.2 million to cornerstone investors at S$0.88 to S$0.90 apiece,...
City Developments (CDL) will be opening e-applications for its new executive condominium (EC) in Sengkang, Lush Acres, on Saturday. Applications for eligible buyers will be open until July 21, while bookings will be held on August 17. The 380-unit development will offer a range of three to five bedroom apartments. The condominium will also feature a small hydroponics farm for residents to grow...
Genting Singapore broke ground for its new hotel in Jurong on Thursday. Slated to open in the first half of 2015, the new development is set to be the first hotel to open in the Jurong Lake District. This comes after the Urban Redevelopment Authority identified the district as a new growth area with commercial, business and leisure facilities. The 550-room hotel will be the seventh hospitality...
Monthly rental rates for office space in the Raffles Place/New Downtown micro-market increased for the first time in almost two years during the second quarter, as improved infrastructure in the area lent support to demand. With average office rents in the overall Central Business District also stabilising, the outlook is positive for the second half this year, Colliers International said in a quarterly...