JTC Corp has launched the North Buona Vista Drive for sale by public tender. The 1.8 hectare, 99-year leasehold site is located at the junction of North Buona Vista Road and Commonwealth Avenue West. It has a potential yield of about 112,000 square metres, with 2,000 square metres set aside for retail use. A developer has since committed to bid at least S$320 million for the land parcel in the public...
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Keppel Land said it has used about S$76 million of the net proceeds from its rights issue last year to fund a quarter of the cost to develop its newly acquired condominium site located at Boon Lay Way and Lakeside Drive. Keppel plans to develop about 550 homes at the site. These will include 1 to 4 bedroom units, as well as penthouses, ranging from 500 square feet to 1,400 square feet each. The project...
Regional financial centres Singapore and Hong Kong have the most efficient bureaucracies, according to the survey of expatriate business executives by the Political and Economic Risk Consultancy (PERC) on Wednesday. India, Indonesia and the Philippines have Asia's most inefficient bureaucracies, with red tape a constant blight to citizens and deterrent to foreign investment, the survey said. Government...
Asia Pacific hotel transactions are seeing a boom, with sales expected to reach some US$3.7 billion or S$5.2 billion - or 29 per cent of global sales - in 2010. This is according to Jones Lang LaSalle Hotels, which said that global transaction volume is forecast to reach US$12.8 billion or S$18.1 billion this year. Jones Lang LaSalle said Asia Pacific even exceeded the Americas by some 46 per cent with...
Office rentals for international Grade A office space in Singapore's prime financial district look set to climb higher by at least 25 per cent over the next two years. This was the view of property analysts who believe that office property rents have already reached bottom, and will likely see a strong pick-up from the second half of this year. "International Grade A" refers to a new generation of office...
China's real estate market problems are worse than those in the United States before the global downturn, a central bank adviser has warned. "It is more than just a bubble problem," said Mr Li Daokui, a member of the People's Bank of China's monetary policy committee. "The housing market problem in China is actually much, much more fundamental, much bigger than the housing problem in the US and United...
Property developer CapitaLand's CEO Liew Mun Leong has been conferred a Distinguished Honorary Membership by the Securities Investors Association of Singapore (SIAS). SIAS says the appointment is in recognition of Mr Liew's support for transparency to shareholders and the investing community, including retail investors in Singapore. CapitaLand and Mr Liew have supported SIAS since its inception,...
BRITISH PROPERTY INVESTORS who managed to hang on to their assets during the worst credit crunch and economic slump in a generation are about to be dealt another blow by the country’s new government. As part of urgent efforts to address the UK’s huge budget deficit, the new Cameron-Clegg coalition administration is proposing to increase capital gains tax on all non-business assets from the current 18%,...
Credit ratings agency Moody's has upgraded its outlook for Singapore's real estate investment trusts (S-REITs) from negative to stable. This reflects its view that the sector's fundamental credit conditions over the next 12 to 18 months will remain stable. Moody's said that the outlook is supported by three factors, which include the strong rebound in Singapore's economy and the stabilisation of rents...
FAR East Organization plans to launch up to six residential projects with more than 1,500 units in the second half of this year, said chief operating officer Chia Boon Kuah. Horizon Residences: The 72-unit project could be launched within four months Mr Chia, who is bullish on the high-end and mass market segments of the private property market here, said most - if not all - of the projects could be...