United Engineers' net profit jumped by more than 200 per cent to S$62.4 million in the first half of the year. Its revenue also went up by 33 per cent to S$418.8 during the same period. Revenue from property development and leasing climbed 117 per cent to S$294.7 million in the first half of the year, while the second quarter for the same sector also surged 135 per cent to S$160.5 million. United...
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The Verv is located at the fringe of the city, River Valley, is touted to be the up-and-coming shining beacon in the myriad of private apartments and condomiuniums. It is targeted at the high-end residential market with winning attributes like the lap pool and the outdoor gymnasium astutely positioned on the second storey of the apartment. Each floor consists of 2 units, each with their own private lift....
Overseas Union Enterprise (OUE) has bought DBS Towers One and Two for nearly S$871 million. DBS Towers, with a 99-year lease, is located at Shenton Way in the heart of the central business district. DBS Tower One was built in 1975 and was then the tallest building in Singapore and the first to incorporate a covered walkway around the entire city block. Together with DBS Tower Two, the 37-storey...
Around 1.5 million square metres of office space was absorbed in the Asia Pacific market in the second quarter of this year. That's almost five times the amount recorded during the same period in 2009. A new research report released by global property adviser DTZ has found that occupied space in the Asia Pacific region increased significantly in the quarter, as companies resumed expansion plans and...
Ghost festival and lack of big launches spell lean month ahead, say experts SUPERSTITION is likely to get the better of some buyers during the rest of this month as the effects of the traditionally quiet Hungry Ghost Festival begin to be felt. During the festival - which started yesterday and will last until Sept 7 - superstitious individuals shun major commitments such as buying a property or getting...
Developer Oxley Rising has submitted the highest bid of S$158 million for an industrial site at Ubi Road 1. The Urban Redevelopment Authority (URA) has closed the tender for the site after receiving 11 bids in total. Oxley's bid translates to about S$163 per square foot. The next highest bid of S$146.5 million came from joint bidders Qing Quan and Qingdao Construction. The over 34,000 square metre site...
Mainboard-listed Koh Brothers said its second quarter net profit fell 27 per cent on year to S$2.4 million, despite revenue for the period jumping 18 per cent to S$91.8 million. The group said the decline in net profit was due to a 16 per cent fall in gross profit, resulting from reduced profit margins from the group's Building Materials subsidiaries. Managing Director and Group CEO of Koh Brothers,...
Naung Court, a freehold residential development in Hougang, is trying for an en bloc sale. The indicative price for the land is between S$28 million and S$30 million, which works out to about S$650 to S$700 per square foot per plot ratio. A development charge of some S$2.7 million will be payable. The site, located along Upper Serangoon Road, is 32,689 square feet in size. It has a gross plot ratio of...
All 174 units in Phase one of The Greenwich, at Seletar Hills, have been fully sold in a private preview since last Monday. Private property developer Far East Organization said the 174 fully sold units make up 55 per cent of the 319-unit development. The Greenwich consists of 12 five-storey residential towers, with one to three-bedroom apartments ranging from 603 square feet to 1,485 square feet. The...
THE collective sale market continues to gain momentum, with two freehold residential sites at Paya Lebar and Hougang up for tender. Huttons is handling the sale of Charlesville, a five-storey 18-unit development at Upper Paya Lebar Road. Sixteen of the 18 owners have agreed to the sale and the asking price is around $31 million. The site is 34,160 sq ft and has a plot ratio of 1.4. Charlesville's...