IT HAS been the practice and requirement that an HDB valuation report is obtained for the sale of an HDB flat. Most buyers are not aware that they do not have to pay for it. The sellers or their property agents have commonly pushed this cost to the buyers. It is neither an HDB policy nor guideline that the buyer must bear the cost of the valuation report. It is entirely between the seller and the buyer...
General
This would be part of deal that sees Qatar fund buy 40% of Fairmont Raffles Sources say the Raffles Hotel is likely to change hands - for the third time in seven years - after shareholding changes at current owner Fairmont Raffles. Toronto-based luxury hotel chain Fairmont Raffles said on Monday that Qatar's sovereign wealth fund Qatari Diar has acquired a 40 per cent stake in the group, in a US$847...
Tender for the plot on the reserve list of the H12010 GLS programme will be launched in 2 weeks THE Urban Redevelopment Authority (URA) has accepted an application from a developer to tender a residential site at Hougang Avenue 2. The 99-year-leasehold plot is on the reserve list of the first-half 2010 government land sales (GLS) programme. The tender will be launched in two weeks. URA said yesterday...
SINGAPORE'S iconic Raffles Hotel has been reportedly bought by a Qatar sovereign wealth fund for US$275 million (S$384 million). Qatari Diar - the principal real estate entity of the Qatar Investment Authority - has purchased the historic property in Beach Road from current owner Fairmont Raffles, a Toronto-based luxury hotel chain, according to an Abu Dhabi newspaper, The National. Fairmont Raffles has...
2 ways to ride on India market: replicate Reit or pump in properties EVEN as Fortis Healthcare and Parkway Holdings are pondering over the possible synergies that the healthcare partners can leverage on from their new relationship, one analyst has suggested that they look into real estate too. Simranjit Singh, director of healthcare practice at Frost & Sullivan Asia Pacific, said that with the India...
WE refer to the article 'Qatar SWF snaps up top Singapore hotel' (BT, April 7). While the article states that Qatari Diar has acquired a stake in the Fairmont Raffles hotel chain, it implied that Fairmont Raffles will also take ownership of one of the chain's Singapore hotels - namely Swissotel The Stamford, Fairmont Singapore and Raffles Hotel. Swissotel The Stamford and Fairmont Singapore are hotels...
IN the light of concerns about the recent rent hike at five of Sheng Siong Properties' wet markets, the Housing & Development Board (HDB) has clarified its position on the issue. HDB says the five wet markets in question were purchased by Sheng Siong from Heeton Holdings on Jan 4. In approving the sale, HDB says it specified that the properties must continue to be operated as wet markets and made...
The Urban Redevelopment Authority (URA) said it has accepted an application to put up a residential site at Hougang Avenue 2 for public tender. It said a developer has committed to bid at least S$109.9 million for the land parcel. The site is one of those on the Reserve List of the first half of this year's Government Land Sales Programme. It's located within an established private residential estate...
On a global scale, buildings are responsible for 70% of all electricity consumed and they use up to 40% of raw materials. Building and construction activities also account for 40% of carbon dioxide emissions. In the face of mounting pressure from governments and green groups to control its oversized carbon footprint, the building industry is turning to technology providers like Autodesk for a new design...
Mainboard listed engineering and real estate group TEE International said it has bought a plot of land in the Thai capital Bangkok for S$6.6 million. The parcel, which spans 6,312 square metres is located near Bangkok's Ramkhamhaeng University and shopping malls. TEE International said the area is popular for education and commerce and is well connected by transport infrastructure. It intends to develop...