CapitaMall Trust, Singapore's largest REIT by asset size, said it is setting up a S$2.5 billion "Retail Bond Programme" and offering up to S$200 million two-year retail bonds. CapitaMall Trust said HSBC Institutional Trust Services would issue bonds, from time to time, under the S$2.5 billion programme, in its capacity as trustee of CapitaMall Trust, in series or tranches in Singapore dollars, United...
General
Taking the effort to 'green' offices has paid dividends. The latest batch of recipients of the Singapore Environment Council (SEC) Eco-Office Label on Wednesday said they saw savings of between five and 30 per cent in utility costs. Gammon Construction Quality Assurance Manager Thng Seng Huat said they made efforts to orientate the site offices to be north-south facing to reduce heat gain, cutting down...
Singapore is the third most expensive location in Asia to live in, according to the latest accommodation reports from consultancy firm ECA international. Taking the top spot is Tokyo, followed by Hong Kong in the second place, and Seoul clinching the fourth spot. Rents have been on the rise in Asia, boosted by economic growth, strong Asian currencies and the region's growing expatriate numbers. ECA,...
Behind the walls of the 24-year-old Bayshore Park condominium, tension is brewing. Four owners are suing a fellow owner for defamation, arising from a dispute over the condo's management council election. On the first day of trial on Tuesday, the High Court heard that the four plaintiffs were allegedly defamed by a 10-statement circular written by Mr Chua Cheok Kwang, which accused them of being...
Joint tenderers Emerald Star and FC Retail Trustee have submitted the highest bid of S$1.021 billion for a mixed commercial and residential site at Punggol Central/Punggol Walk. The Housing and Development Board (HDB) received a total of seven bids at the close of its tender on Tuesday. The 29,999 square metre site is being offered for sale on a 99-year lease. It has a maximum gross floor area of...
Sales of private residential property in Singapore fell to a three-month low in January after the government announced stringent measures to curb speculative activity, including a 16 per cent seller's stamp duty for sales in the first year. Data released on Tuesday by the Urban Redevelopment Authority (URA) showed that 1,189 private homes were sold last month. This is an 11 per cent month-on-month drop...
Buyers with Housing Development Board (HDB) addresses lodged 1,016 caveats for private apartments below 500 sq ft in 2010, approximately 17 times the 59 units acquired by HDB dwellers in 2006, according to an analysis of Urban Redevelopment Authority (URA) Realis caveats data. These small units comprised 9.1 percent of the total number of non-landed private homes acquired by buyers with HDB addresses in...
The Council for Estate Agencies (CEA) has rejected 611 individuals applying to be real estate salespersons. In a written reply to a parliamentary question, National Development Minister Mah Bow Tan said 392 were rejected as the applicants had neither taken CEA-endorsed exams, nor completed at least three property transactions over the last two years. Mr Mah added that these applicants can apply to...
Unmarried Singaporean and Permanent Resident (PR) siblings whose parents live overseas can no longer buy a new or resale HDB flat, from Monday. The government said they can either rent a room or a small flat from the open market. It said with the liberalisation of the subletting market for HDB flats over the years, the Citizen-Singapore PR sibling scheme, introduced since 1990, is now no longer...
National Development Minister Mah Bow Tan has said the government will continue to monitor the property market closely and take further steps, if necessary, to promote a stable and sustainable property market. Replying to a question in Parliament on Monday, he explained that despite the large supply in the pipeline, market sentiments had remained bullish, with signs of renewed exuberance in the market at...