Mainboard-listed books retailer Popular Holdings said on Friday that its third quarter profit rose by 47.5 per cent to S$7.85 million. The increase came on the back of a 6.6 per cent improvement in turnover to S$147.2 million and a 70 per cent fall in its other operating expenses. For the third quarter ended in January, Popular said the biggest contributor to its result was its property development...
General
Mainboard-listed property developer Keppel Land on Friday said it has terminated its Vietnamese joint venture agreements with An Phu Corporation. It said the contracts were terminated because conditions were not fulfilled, without elaborating. Under the agreements signed in 2007, Keppel Land was to have developed condominiums in Ho Chi Minh City with An Phu. Keppel Land said the termination of the...
LIPPO Group has positioned itself in a pretty sweet spot by buying out ex-partner Ananda Krishnan's stake in Overseas Union Enterprise (OUE), and upping its hold on the property company to 88.52 per cent. With the deal, it has just enough interest to effectively dictate OUE's direction - and also all the time it needs to decide whether to delist the latter, or turn it into a stockmarket darling. For now,...
A CHINESE firm new to Singapore's residential development scene has topped the bidding for an executive condominium (EC) site in Yishun. Beijing-headquartered MCC Land (Singapore), which lost out on last week's tender for an EC site in Sengkang, was the highest bidder for the 15,074 sq m Yishun plot. Its $127.8 million bid, or $281.31 per sq ft (psf) of gross floor area, easily beat earlier analysts'...
WITH reference to yesterday's report, 'Agent targeted foreigners in rental scam', we would like to offer the following guide to employers recruiting foreign talent as well as individual foreigners who are leasing residential properties in Singapore. Request for verification of property ownership such as the latest property tax statement or utilise the e-Valuation List service at the Internal Revenue...
The executive condominium site at Yishun Avenue 11 has attracted 10 bids. MCC Land Singapore put in the top bid of $127.8m for the 99-year leasehold plot. This translates into S$281 per square foot per plot ratio. The second highest bid came from Qingjian Realty, at S$118.8m, followed by Maxdin Pte Ltd which placed a bid of S$117m. The remaining offers range between S$46.8m and S$116m. Real estate...
About half a million square feet of office space in the core business district and fringe areas could become available when government bodies move out of Singapore's city centre by 2015. Experts said that with occupancy in the CBD bouncing back after the downturn, the space will be sorely needed. Government agencies such as the Ministry of National Development will be moving out of their premises in the...
The government has accepted an application from a developer to put up an industrial site at Woodlands Avenue 12 for public tender. The Urban Redevelopment Authority (URA) said it has received an application from a developer who has committed to bid a price of not less than S$25 million for the land parcel. The land parcel has a site area of about 3.2 hectares and a maximum gross plot ratio of 2.5. It can...
Property developer CapitaLand said the present property boom in China cannot be labelled as a bubble. It is of the view that current market conditions are driven mainly by physical demand. While it notes there is some degree of speculative demand in the Tier 1 cities, CapitaLand said there is no subprime danger in China, unlike in the US. It added that it is comforting to note that the Chinese government...
Sunrise. Seafront. Serenity. Perched on Pasir Panjang Hill and surrounded by tranquility, Horizon Residences brings a new serenity to seaside living. From the surroundings to the entrance gateway feature, this luxuriously modern FREEHOLD luxurious condominium boasts of security and intimacy of your abode. When it comes to amenities, Horizon Residences brings to life your ideal "lazy Sunday". Facilities...