CapitaLand's wholly-owned serviced residence business unit The Ascott is launching its first Ascott-branded property in Dubai. Ascott said it was bringing its brand to the United Arab Emirates through a management contract for the 118-unit Ascott Park Place Dubai. The asset is located in the prime commercial area of the city on Sheikh Zayed Road. Ascott will operate the property from October 1 this year...
General
Keppel Land says it will strengthen its focus in China through a wholly-owned subsidiary, Keppel Land China, which is being established to own and operate all of Keppel Land's properties in the country. Building on the Keppel Group's strong network and track record in 20 cities across China, Keppel Land currently has a total gross floor area (GFA) of 5.3 million square metres which translates to more than...
The Government of Singapore Investment Corporation (GIC) has said real estate and private equity investments can give better returns compared to equities. So it said it will continue its investments in these areas as part of its emerging markets strategy. Speaking at a CFA Institute Conference on private wealth management on Wednesday, GIC's group chief investment officer, Ng Kok Song, said developed...
The Singapore Residential Price Index (SRPI), compiled by the NUS Institute of Real Estate Studies, show that prices of non-landed private homes remained flat in August as compared to July. The latest flash estimates from National University of Singapore (NUS) covers only completed properties. The overall price index for non-landed homes for August rose 0.8% month on month, compared with a month-on-month...
Sixty-seven strata units in Upper Serangoon Shopping Centre, a freehold mixed development, have been put up for sale by tender. Jones Lang LaSalle, the exclusive marketing agent, said the development consists of a total of 173 units comprising of shops, offices and residential units. The 67 strata retail units with a total area of about 4,392 square metres are up for sale. These units make up a 59 per...
Building houses is a profitable business in China - something the Yanlord Land Group knows all too well. But the property giant did not start off in real estate. When it first set up shop in Singapore in the 80s, it focused mainly on trading and manufacturing. With China as its main market, Yanlord soon found it hard to compete against local rivals. But it was quick to spot another golden opportunity...
Police have arrested a 43-year-old man who is believed to be involved in several cases of rental scams involving camera and event equipment. The man, named "K Saravanan" in reports filed by the complainants, failed to return cameras and event equipment he had rented after paying a small deposit. The suspect was arrested in York Hill on Monday afternoon. Preliminary investigations revealed that he is...
Some retailers in malls affected by road closures because of the Singapore Grand Prix have complained that shopper-traffic during the Formula One weekend dipped the worst in the event's three-year run. This was despite the Circle Line rail network offering shoppers a new access to Marina Bay. Mohammad Ariff, manager of Digi-Tech Exchange at Suntec City Mall, said: "For our shop, business has dropped 60...
Private resale homes prices are continuing to hit record highs. However the pace of increase slowed this quarter, according to a report by DTZ. This weakening rise is likely to come to a stop over the rest of the year as recent cooling measures on residential market take effect, it said. 'Sales volume is expected to be lower as sellers continue to maintain their asking prices while potential buyers hold...
A venture between Hoi Hup Realty and Malaysia's Sunway group is previewing Vacanza @ East today. The freehold condo in the Kembangan is expected to be slightly over $1,000 per square foot for the 141 units being released. The project has a total of 473 units in seven blocks. The project comprises one to four-bedroom units as well as penthouses. Roxy-Pacific group previewed Jupiter 18 at Lorong 102...