CAPITALAND president and chief executive Liew Mun Leong said at a forum yesterday that there is no widespread asset bubble in China, because outside certain major cities, people's mortgage payments have not become unaffordable relative to their incomes. Mr Liew told students at the National University of Singapore Business School that there are 'speculative forces' in major cities like Beijing, Shanghai,...
General
THE Housing and Development Board (HDB) has launched a land parcel in Yishun for sale under its design, build and sell scheme (DBSS). Around 700 flats can be built on the site located at the junction of Yishun Avenue 11 and Yishun Central. Analysts estimate that the top bid could be in the region of $132-166 million, which translates to around $160-200 per square foot (psf) per plot ratio. They added that...
China-based Debao Property Development has launched its initial public offering in hopes of raising about S$48 million. It is offering 138 million shares at S$0.43 each. Only 1.5 million shares have been set aside for the public, while the rest will be placed out. Debao said it plans to use the net proceeds to fund existing property development and buy new sites and investment properties. The offer...
CAPITALAND president and CEO Liew Mun Leong's total remuneration last year was $5.8 million, down 22 per cent from $7.42 million in 2008. This was despite his bonus rising 29 per cent to $3.83 million from $2.98 million. This bonus is largely from an economic value added (EVA) incentive plan. EVA measures the net operating profit after tax less cost of capital employed. According to CapitaLand's 2009...
Mainboard-listed property investment firm Japan Land has issued a profit warning, saying that it expects to post a financial loss for the nine months ended February 28. The company is set to announce its third-quarter unaudited financial results on April 14. Japan Land said that the losses stem from the company not registering project arrangement fees and project management fees for the current financial...
Industry players said sales of new private homes are likely to hit close to 4,000 units in the first quarter of this year. The figure is more than double the numbers of homes sold in the fourth quarter last year, despite fresh anti-speculative measures introduced by the government in February. New property launches such as The Altez and The Vision have pushed home sales up in the first quarter. So far,...
Demand for new homes in the first quarter of this year more than doubled that of the fourth quarter of 2009. Property consultancy CB Richard Ellis (CBRE) said response to new projects launched in the first three months of the year chalked up close to 4,000 homes compared to only 1,860 in the previous quarter. This is despite the introduction of another set of property curbs in February. The property...
The Housing and Development Board (HDB) is launching another residential site for public tender under the Design, Build and Sell Scheme (DBSS). The latest project is located at Yishun Avenue 11 and Yishun Central. It is near a range of amenities such as educational institutions, a sports stadium and a swimming complex. Some 700 units are estimated to be on offer when the project is completed. Under the...
Property consultancy Colliers International has launched the tender of a freehold industrial site at No.21, Kim Keat Road at an asking price of S$42 million. That works out to S$734 per square foot per plot ratio. This includes a possible development charge of S$25 million. Under the 2008 Master Plan, the site is zoned for 'Business 1' use. But the Urban Redevelopment Authority (URA) would consider...
However, at Sentosa Cove, buyers spoilt for choice from 3 projects on offer Malaysian tycoon Quek Leng Chan's GuocoLand has sold 60 units at the freehold Goodwood Residence along prime Bukit Timah Road over the past two weekends at prices ranging from $2,355 psf to $2,555 psf for typical units. Mr Quek himself picked up the biggest unit in the 12-storey project - a penthouse - for $18.8 million. His...