Property developers are hoping that home buyers will purchase ahead of the Hungry Ghost Festival in August. Otherwise, overall market sentiment will be cautious. Chia Siew Chuin, Director of Research & Advisory at Colliers International, noted that while the end of the school holidays could imply the return of some buyers to the market, overall sentiment in the private housing market is likely to stay...
General
Hong Kong is now the most popular city for international business, while Singapore is a close second, says commercial real estate services firm CB Richard Ellis (CBRE). This is according to a study conducted by the firm, which analysed office locations of 280 of the world's largest companies across 232 cities. 68.2 per cent of international companies surveyed were represented in Hong Kong, while...
Ascendas REIT said it will be developing a centre for Unilever Asia Private at an estimated development cost of S$32.3 million. This is excluding the S$26.4 million premium for the underlying land located at Nepal Park. In a filing to the Singapore Exchange (SGX), A-REIT said that in addition, the property - called Unilever Four Acres Singapore - will enlarge its presence in One-North. Specifically, it...
Singapore’s KTM railway will be dismantled starting this week, with Minister for National Development Khaw Boon Wan assuring the public of the preservation of the greenery surrounding the railway. He said that after the tracks have been taken apart, segments of the path will be reopened to the public. During an interview, Mr. Khaw said that housing development prospects could be accomplished within the...
Ascendas Group is considering listing a yuan-denominated real estate investment trust as a way of exiting some of its property funds, its chief executive Chong Siak Ching said yesterday. A yuan REIT is "one of the options, and I'm sure many people are also looking at that as an opportunity", she said. The group is also open to other options apart from a yuan REIT, with China, Hong Kong or Singapore being...
CapitaMall Trust (CMT), which has a portfolio of 16 malls in Singapore, said yesterday that asset enhancement initiatives would be a major growth driver for the real estate investment trust. For The Atrium@Orchard, CMT will separate three levels of office space totalling 127,000 sq ft and combine this with Plaza Singapura to create a single entity with a net lettable area of about 625,000 sq ft. The...
Developer CapitaLand has announced that its wholly owned subsidiary, Ascott Investment Ltd, has sold Ascott Beijing to Splendid Wealth Group, a wholly-owned subsidiary of the Ascott Serviced Residence (China) Fund, for S$205.8 million. The property comprises 310 apartment units and is located within Beijing’s prime district. CapitaLand has a 36.1 percent stake in the fund, which is a private equity...
CapitaMall Trust said its distribution per unit (DPU) for the second quarter rose 3.1 per cent to 2.36 Singapore cents. That is up from the 2.29 Singapore cents reported in the same period a year ago. The trust said that this is largely due to the higher rental rates secured from new and renewed leases, and is supported by a stable economy, low unemployment rate and healthy consumer spending. Net...
Previously, as Health Minister, Mr Khaw Boon Wan had blazed a trail when he became one of the first few ministers to actively blog his thoughts on policy matters. And since taking on the National Development portfolio, Mr Khaw has carried on the practice - which has reportedly caused discomfort among some developers. But Mr Khaw stressed that as a regulator, his job is to release as much information as...
New home prices rose in 67 Chinese cities last month, with growth in Beijing and Shanghai accelerating for the first time since the government stepped up efforts this year to curb growth. In Beijing, new home prices rose 2.2 per cent last month from a year earlier, compared with 2.1 per cent in May, while in Shanghai they climbed 2.2 per cent, compared with 1.4 per cent growth the previous month, the...