It has been suggested before, as early as two years ago, that the new downtown at Marina Bay will eventually be the new Raffles Place. Now it seems the market is actually doing the talk. Almost everyone who does business in the region knows Raffles Place. It is Singapore's premier office district. Over the decades, the mantle of being Singapore's most-sought-after business address has shifted before -...
General
Investment sales for residential property in Singapore have fallen 30.8 per cent in a single quarter, with analysts attributing the dive to the slew of cooling measures introduced by the Government in August. According to a report issued yesterday by property consultancy Colliers International, the third quarter saw a total value of $3.74 billion in residential investment sales, well below the $5.4...
Commercial real-estate investment volumes in the Asia-Pacific increased by 8 per cent in the third quarter of this year to US$29.6 billion ($38.4 billion), according to DTZ Research. The real-estate research house said that volume growth would remain strong for the remainder of this year - and into next year, with investment predicted to hit US$145 billion next year. That would be a 12-per-cent increase...
The stigma of being called a real estate "agent" has led to many renaming themselves as "marketing directors, sales consultants, etc" to avoid being associated with some of the agents who demonstrate questionable knowledge and dubious sales propositions. I shared many of these perceptions prior to joining OrangeTee. However, after having worked at close quarters with some agents in the past months, I am...
Allgreen's latest residential property, Suites @ Orchard, was launched last week. The 10-storey condominium comprises 118 units, from one-bedroom apartments to three-bedroom penthouses. The smallest unit is a one-bedroom-with-study unit of 548 sq ft, while the largest is a two-bedroom unit with attached study and private enclosed space, altogether at 2,551 sq ft. Facilities at Suites @ Orchard...
Mapletree Logistics Trust's third quarter distribution per unit (DPU) has seen a 4.1 per cent increase to 1.54 cents, higher than the 1.48 cents reported last year. Mapletree Logistics' distributable income rose by 9.5 per cent on-year to S$31.5 million. Its net property income also went up by 8.1 per cent on-year to S$47.6 million. The trust says its actual cumulative DPU pursuant to its equity fund...
Mapletree Industrial Trust made a sparkling debut on Thursday, surging as much as 29 percent above its IPO price as investors were drawn by its high dividend yield amid rock-bottom interest rates. Units of Mapletree Industrial, which owns factories and other industrial properties in Singapore, opened at S$1.15 a unit against an IPO price of S$0.93. It rose as high as S$1.20 a unit. Mapletree's S$940...
A new statutory board to regulate estate agents in Singapore comes into operations from Friday. The Council for Estate Agencies (CEA) will be chaired by Greg Seow, Chairman of AMP Capital Investors (Singapore). The new body aims to raise the professionalism of the real estate agency industry and to enable consumers to better safeguard their interests. Key elements include enhanced licensing conditions...
The Housing and Development Board (HDB) has received six bids for the land parcel at Pasir Ris Drive/Elias Road at the close of the tender on Thursday. The highest bid came from joint bidders ChoiceHomes Investments and CEL Development, which submitted a bid of S$89.89 million. EL Development put in the second highest of S$89.33 million, while the lowest bid of S$61 million came from Ecco...
The Housing and Development Board (HDB) disbursed $502 million in CPF housing grants for the financial year 2009/2010. The figure is 52 per cent higher than the previous financial year. The HDB also said its priority is to help first-time home-buyers set up their first homes through both demand and supply measures. Speaking to the media at its Annual Report briefing, CEO Mrs Cheong Koon Hean said HDB...