Malaysia-listed premier lifestyle property developer Eastern & Oriental Berhad (E&O) today announced the official launch of Andaman at Quayside, luxurious Andaman Sea-facing condominiums touted to be the finest in Penang Island. Andaman at Quayside is sited on 21 acres of the final, most-prime plot on E&O’s acclaimed world-class masterplanned development, Seri Tanjung Pinang, with 75% of all...
General
Demand for new private residential properties in Singapore rose sharply in January according to data from the Urban Redevelopment Authority. Last month, 1,872 units of new homes, excluding executive condominiums (EC) were sold - more than double the 632 units moved in December. The top selling project in January was Watertown situated at Punggol Central, with 770 units sold. Other star performers for...
Over the next five years, the cost of occupying a workstation in Singapore's business district will be among the slowest to grow globally, according to property services firm, DTZ. Driven by downward pressure from negative rental growth in 2012 and 2013, Singapore joins Bangkok and Kuala Lumpur as locations that will see the lowest growth in office occupancy costs. Factors that contribute to this...
The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Bedok South Avenue 3 to a consortium for S$345.9 million. The consortium, comprising FE Lakeside, FCL Topaz, and Sekisui House Singapore, has put in the highest bid out of a total of seven bids for the 99-year leasehold site. Market watchers say the top bid of S$345.9 million or S$534 per square foot (psf) per plot...
The latest property cooling measures may hold back buyers for another five to six months. This is the view of CapitaLand's President and CEO Liew Mun Leong after reporting the company's net profit, which shrank by 26 percent. In Singapore, the property giant raked in a whopping S$1.35 billion in total sales last year. This is for the sale of 844 units of private homes - slightly more than the previous...
Global Logistic Properties (GLP) says its third quarter net profit rose 3.4 per cent year-on-year to US$86.3 million. This was boosted by higher revenue contribution from its new properties in China. Revenue for the quarter ended Dec 31 rose 18.8 percent to US$144.7 million from the previous year. GLP, which own properties in China and Japan, says in a statement that its revenue from China properties...
Singapore has currently about 1,000 interim rental housing units. Replying to a question in Parliament, Senior Parliamentary Secretary for National Development, Dr Maliki Osman said the Interim Rental Housing (IRH) came about because there were a number of old HDB blocks which were vacated, pending demolition. To put them to some interim use, HDB decided to rent them out to families in financial hardship...
CapitaLand, Southeast Asia's largest property developer by market capitalisation, posted a net profit of S$476.6 million for its fourth quarter, down 20 percent from a restated S$596 million in the previous year. The developer said the decrease was mainly due to lower development profits and portfolio gains. For the full year, CapitaLand booked a net profit of S$1.06 billion, down by about 26 per cent...
Property group Wing Tai Holdings has reported a 1 per cent rise in second quarter net profit to S$34.2 million from the previous year. The company attributed the increased profit to the higher contributions from its developments The Floridian and Ascentia Sky by Tanglin in Singapore, and also from its properties in Hong Kong. Group revenue for the quarter ended December 31 rose 18 per cent to S$185.62...
One in 10 conducted resale transactions of Housing and Development Board (HDB) flats the do-it-yourself (DIY) way last year. The HDB provides a DIY checklist to help shorten the process. This is one area the National Development Ministry is looking into, following public feedback on ways to meet diverse demands and raise the standard and professionalism of the real estate industry. National Development...