The head of Singapore's second-largest developer said property prices in the Republic could drop by three to five per cent this year. City Development's billionaire chairman Kwek Leng Beng gave this assessment as his company announced a record pre-tax profit of more than S$1 billion for 2010. Housing unit prices in Singapore could experience a small drop this year because of the government's latest...
General
Consumers will be able to view photographs of registered salespersons online from March 1. This is in addition to the information already available on the Council of Estate Agencies' public register, which includes the saleperson's name, company and registration number. The council advised consumers to access its register to verify a saleperson's information before engaging his or her services. It added...
Property developer Guocoland's latest Tanjong Pagar project (Tanjong Pagar Centre) holds a new promise for the fading business district that has been overshadowed by the brand new Marina Bay area, home to the swanky Marina Bay Financial Centre. The S$3 billion project will have more than 500,000 square feet of residential space. It will also have more than one million square feet of office...
Mainboard-listed property firm City Developments (CDL) said its fourth quarter net profit rose 41.1 per cent on-year to S$249.2 million. This is despite revenue for the period falling 25.1 per cent to S$690.9 million. CDL said the increase was due to higher profit contribution from the rental properties segment due to gain recognised primarily from the sale of the Group's remaining strata-units in...
The Housing and Development Board (HDB) has received a total of 19 bids for the residential land parcel at Bishan Street 14 at the close of its tender on Thursday. Bishan Residential Development submitted the highest bid of S$550.1 million for the site. The 11,997 square metre land parcel is meant for condominium housing development and is being offered for sale on a 99-year lease. It has a maximum...
Mainboard-listed luxury resorts operator Banyan Tree said its fourth-quarter net profit increased by six-fold to S$19.5 million. This was mainly due to gains on the sale of Dusit Laguna Phuket in October last year. However, the higher profit was partially reduced as a result of the adverse impact of the anti-government riots in Bangkok in April and May last year on its Hotel Investments and Property...
Mainboard-listed property development group Ho Bee Investment said its fourth-quarter net profit rose 168 per cent to S$115.6 million. That's on the back of a 13 per cent increase in revenue for the quarter to S$112 million. For the whole of 2010, net profit fell slightly by 8.5 per cent to S$308.4 million. The firm said the good performance was partly contributed by its share of profits totalling...
Property developer Guoco-Land's latest Tanjong Pagar project (Tanjong Pagar Centre) holds new promise for the fading business district, overshadowed by the Marina Bay area's swanky Marina Bay Financial Centre. GuocoLand's S$3 billion project along Peck Seah Street and Choon Guan Street will have over 500,000 sq ft of residential space and more than one million sq ft of office space. Analysts expect keen...
Mainboard-listed Global Logistic Properties (GLP) is ramping up its logistics pipeline with a new US$200 million venture in Suzhou, China. GLP said it has partnered Suzhou New District Bonded Logistic Centre Development, to jointly develop the logistic park. Known as GLP Park SND, the park will service the logistics tenants in Suzhou. CEO of GLP, Ming Z. Mei, said this new venture would address the...
In January, National Development Minister Mah Bow Tan announced that the Government was considering tougher measures to deter first-time HDB flat buyers from repeatedly not selecting a flat when invited to do so. Under the current rules, applicants who reject a chance to select a flat twice will have their first-timer priorities removed for a period of one year - meaning they will be given one ballot...