Mainboard-listed Overseas Union Enterprise has reported at 23 per cent jump in its net profit for its first quarter, at S$227.6 million. This was boosted by a fair value gain of around S$249 million, after it obtained a Temporary Occupancy Permit for OUE Bayfront. Revenue for the first quarter grew by 42.2 per cent to S$68 million. Looking ahead, OUE said the positive economic outlook and projected...
General
It is a pity that after several days of heated oratory ahead of Polling Day, there has been little debate, if any, on the private housing market. After all, a condominium is one of the 5C's besides cash, car, credit card and country club membership that many Singaporeans aspire to have. Almost all of the discussion on housing has been focused on the public housing sector. This is expected as there is more...
The Government's measures to cool the exuberance in Singapore's property market have started to affect home-buying decisions, according to property website iProperty.com's 2011 Consumer Property Sentiment Survey. Some 59.2 per cent of respondents say they are affected by the measures and are either modifying their property buying, selling or renting decisions, or are halting plans to buy or sell for...
One set of figures said flats in Aljunied GRC fetched higher resale prices. Now, another set claims flats in Hougang SMC are worth more. Two PhD students have calculated, based on transactions found on the Housing and Development Board's (HDB) website, that flats in Hougang were nearly 4 per cent higher in value than the same type of flats in Aljunied GRC. In contrast, National Development Minister Mah...
Hong Kong home sales fell to the lowest volume in more than two years last month as government curbs and rising mortgage rates sapped demand after a price surge since 2009. The number of units that changed hands last month declined 37.6 per cent from a year earlier to 7,635, according to The Land Registry. That is the lowest since March 2009, according to data compiled by Bloomberg. The value of...
CapitaRetail China Trust (CRCT) is acquiring New Minzhong Leyuan Mall - a mall in Wuhan's shopping and entertainment belt - for RMB 395 million (S$76 million) from The Ascott Holdings. Both CRCT and The Ascott Holdings are units of property developer CapitaLand. The mall has a net property income (NPI) yield of 8.1 per cent compared to the NPI of 7 per cent for CRCT's entire portfolio. CRCT's entire...
CapitaLand said it has appointed Mr Lim Ming Yan as its chief operating officer. Mr Lim will report to the president and CEO of CapitaLand Liew Mun Leong. CapitaLand said Mr Lim will be leading several key projects including special major projects. He will also drive the group's talent management programmes to build a talent pipeline that supports its growth strategy. At the same time, Mr Lim will...
The Urban Redevelopment Authority (URA) has put up two residential sites along West Coast Link and along Choa Chu Kang Road for sale by tender. The land parcels were released for sale under the Confirmed List of the Government Land Sales Programme for the first half of the year. Together, the two 99-year lease sites can yield nearly 700 housing units. URA said the land parcel at West Coast Link has a...
CapitaLand's wholly-owned subsidiary, The Ascott, has secured a contract to manage a 229-unit premier serviced residence in Doha. Ascott Doha will be the company's second property in the capital city of Qatar and is scheduled to open in the second half of 2011. Ascott Doha is located in the centre of Doha's diplomatic district and offers stunning views of the Arabian Gulf. Units offered in the residence...
he highest price for a five-room flat in April's BTO launches was S$484,000. Will the price of BTO flats reach half a million dollars and more in future? Mah Bow Tan: Depends on the location. If you're building one in Queenstown and in the central area, where land is more expensive, because HDB has to buy the land, it's possible. I think Singaporeans would appreciate that it's not just absolute cost alone...