Measures to dampen speculation hurting sentiment, say traders THE sizzling residential property market has failed to radiate its heat onto property counters traded on the local bourse. So far this year, property developers have outperformed the benchmark Straits Times Index (STI) by a mere 2 per cent. The FTSE ST Real Estate Index, which tracks 43 property counters and real estate investment trusts, has...
General
Vibe on the ground doesn't match analyst optimism THE reports "Pasir Panjang apartment block up for en bloc sale" (Aug 24) and "Demand fires up en bloc market" (Aug 18) appear to portray the en bloc sale market in Singapore as strong and buoyant. But is this really the case? Both reports are based on opinions of real estate agents, who arguably have a vested interest in keeping property prices...
Raided by CAD, the group's MD claims some buyers don't understand concept 'Completely misguided' is how the directors of strategic land investment firm Profitable Plots have described the complaints made against the company - complaints that have prompted the white-collar crime police to step in. And the company, perhaps best known for its tagline 'Buy UK Land! We did!' - once uttered by some of the...
PEN was put to paper yesterday on the contract that will pave the way for the construction of the Sports Hub. Demolition of the National Stadium will begin by October, with the new 35ha facility catering to both sports and non-sports enthusiasts to open its doors by April 2014, the Singapore Sports Council said in a press statement early this morning. The centrepiece remains a new 55,000-seater stadium...
The private residential real estate sector in Singapore is cooling due to a combination of European debt worries, local stock market jitters and increased land supply, according to analysts. The latest report from property consultants DTZ suggests that market activity slowed in May and June due to subdued global outlooks. Primary sales in the second quarter fell by 8% to 4,033 units, as developers slowed...
HOME buyers have snapped up eight units at Waterfront Key and six at Waterfront Gold in the Bedok Reservoir area in the days since last week's news that an MRT station will be built nearby. Developer Frasers Centrepoint Homes said the units have been sold since the Government announced details of Stage 3 of the MRT Downtown Line last Friday. The firm will also officially launch Waterfront Gold this...
Property developer and builder Sim Lian Group has recorded a full-year profit before income tax of $129.4 million in FY2010, 141% higher than the $53.6 million recorded in FY2009. Revenue from property development division contributed $582.1 million to the group’s revenue in FY2010 compared to $394.9 million in FY2009, an increase of 47.4%. The increase in revenue from property development division was...
The Land Transport Authority (LTA) is constructing two new flyovers and widening parts of Upper Bukit Timah Road and Woodlands Road to improve the overall traffic flow. Upper Bukit Timah Road and Woodlands Road is a key arterial road, serving the Kranji and Mandai industrial estates as well as the Bukit Panjang and Choa Chu Kang residential estates. Currently, it experiences high traffic volumes,...
A land parcel at Miltonia Close attracted seven bids when the tender closed on Tuesday. The highest bid of S$165 million came from Hoi Hup Realty and Sunway Developments, which are jointly pitching for the project. This translates to S$406 per square foot per plot ratio (psf ppr). The bid is some 31 per cent higher than the second highest one at S$126 million which was submitted by Master Contract...
Singapore has clinched the title of 'Top International Meetings City' for the third consecutive year, affirming its standing as a leading business events destination, ahead of some 1,700 cities. The latest 2009 global rankings published by the Union of International Associations (UIA) also showed that Singapore climbed a spot, from third position, to be placed as the second 'Top International Meetings...