Like many others, my jaw dropped when I read about the findings of a recent employment survey of fresh Nanyang Technological University graduates which showed that the top earner was drawing $20,000 a month with a firm in the financial industry. That person was in a select club of fresh graduates earning close to a five-figure salary each. What is it that the employers of these new professionals expected...
General
United Industrial Corporation (UIC) has reported a 23 per cent year-on-year increase in net profit to S$136.7 million for the second quarter ended June 30. The company said it posted a fair value gain of S$147.8 million to its income statement for the quarter, based on valuations by independent professional valuers. The valuations were for investment properties held by subsidiary companies. Net profit...
Grand Tower located near Novena MRT station sold en bloc for S$88.5 million. This reflects a land rate of S$1,376 per square foot per plot ratio based on a plot ratio of 2.958. Marketing agent for the site Savills said the buyer is 27MR Pte Ltd, a wholly owned subsidiary of boutique developer New Century Real Estate. New Century Real Estate is also the developer for 8Rodyk condominium. Grand Tower is a...
Singapore has maintained its position as the third most expensive office location in the Asia Pacific region for the eighth consecutive quarter since the office market bottomed in third quarter 2009. According to Colliers International Research's latest Asia Pacific Office Market Overview report, annual gross rents for Grade A offices in the Central Business District (CBD) increased 9 per cent to S$105.31...
Parkway Life REIT (P-Life Reit) posted a 13.4 per cent increase in distribution per unit (DPU) to 2.37 Singapore cents for its second quarter. That is up from 2.09 cents in the same period last year. Gross revenue at the healthcare trust rose 14.1 per cent to S$21.4 million, helped by Japan nursing home properties it acquired, and higher rent from existing properties. Net property income for the quarter...
CapitaLand said its second quarter net profit rose 17.4 per cent to S$399 million. That's up from a re-stated S$339.7 million profit in the same period a year ago. CapitaLand, which is southeast Asia's biggest developer, attributed the gain to higher development income in Singapore, fair value gains, and the sale of a residential site in China. Revenue climbed 25 per cent to S$740.4 million. CapitaLand...
Proposed changes to the Housing Developers (Control & Licensing) Act will cover all housing developers and not just those developing projects with more than four units. The Urban Redevelopment Authority (URA) said this is so that buyers of units in these smaller developments can also benefit from the protection accorded under the Act. The suggestion was made during a month-long consultation exercise...
Property buyers who are willing to pay top dollar for a unit at Braddell View for its en bloc potential may face a long wait. The route towards a possible collective sale of the HUDC estate looks like a long and bumpy one, with the unique status of the development throwing up obstacles along the way. Braddell View while having facilities such as a clubhouse and swimming pool - suggesting a private...
New project launches are expected to slow down as developers hold off launching projects over the next few weeks. The traditionally inauspicious Hungry Ghost Festival could be one reason, but analysts say uncertainty over global economic issues could be a more of a concern. According to The Straits Times, several developers confirmed that they are not planning to launch any new projects this month, but...
A re-development site located at 693 Geylang Road has been put up for public tender Wednesday. The 99-year leasehold property is within the Geylang Conservation Area and measures some 6,488 square feet and is regular in shape. It is currently occupied by a two-storey detached development, which was previously used as a club-house by an association. The site has a gross plot ratio of 2.8 and is zoned for...