Residential property prices in Singapore increased 7.4% in last three months of 2009 as the property market made a quick recovery from a nightmarish start to the year, the latest published figures show. This followed the previous quarter's increase of 15.8%, a turnaround from a fall of 18% in the first half of 2009, leaving the annual price increase at 1.8%, said the Redevelopment Authority. Prices of...
General
Residents of Neptune Court voted on Sunday to appoint law firm Tan & Au to undertake the privatisation of the sprawling estate. Sunday's meeting to amend the constitution, appoint a law firm and approve the privatisation committee lasted three hours amid heated outbursts from some residents. One complaint was the alleged lack of transparency in how the Neptune Court Owners' Association (NCOA) had...
Mainboard-listed ARA Asset Management and CWT said their joint venture REIT has obtained a letter of eligibility to list its units on the Singapore Exchange (SGX). The joint venture REIT, called Cache Logistics Trust or CLT, will invest principally in logistics properties in the Asia Pacific region. It will be managed by ARA-CWT Trust Management, which is 60 per cent owned by ARA and 40 per cent by...
Construction and property development firm, KSH Holdings, has achieved a turnaround in third quarter net profit to S$5.2 million. This compared with a loss of S$900,000 in the same corresponding period the previous year. Revenue for the three months ended December fell five per cent to S$82.5 million. KSH said its construction business in Singapore continued to be its strongest revenue contributor in...
The Housing & Development Board has awarded the tender for the residential site at the junction of Sengkang West Avenue and Fernvale Link to Sunmaster Holdings. The company submitted the highest tender for the site at S$200.5 million out of a total of 10 bids received. The minimum offer price was S$70 million. The land parcel is about 16,998 square metres and is for a proposed condominium...
Resorts World at Sentosa has been awarded its casino licence. It is the first of Singapore's two integrated resorts to get the go ahead for its casino operations. Although the opening date of the casino at Resort World has not been announced, preparations are in full swing. Resorts World Sentosa chairman Lim Kok Thay said: "We are very happy to have received the casino licence. This was made possible by...
WING Tai Holdings yesterday reported a 7 per cent climb in fiscal second quarter net profit to $22.3 million from $20.9 million a year earlier as it sold more homes. The rise in earnings for the three months ended Dec 31, 2009, came on the back of a 93 per cent surge in revenue to $177.1 million from $92 million a year ago. Q2 earnings per share climbed to 2.87 cents in Q2 from 2.67 cents the previous...
RITA Soh, director of RDC Architects Pte Ltd, has been elected the new president of the Board of Architects Singapore (BOA). The new 15-member board, which started its three-year term on Jan 1, 2010, comprises three ex-officio members, six members appointed by the Minister for National Development, and six members elected by the architect community. The BOA is a statutory board under the Ministry of...
Location: West Coast Crescent (District 5) Tenure: 99 years leasehold Site Area: 129,745 sqft Year of Completion: 2015 Total Units: 281 apartments & 14 strata houses Unit Types: 2 bedroom ~ 818/ 904 sqft 3 bedroom ~ 1,259/ 1,302/ 1,313/ 2,110 sqft 4 bedroom ~ 1,604 sqft 3 bedroom penthouse ~ 2,702 sqft Strata house ~ 4,941/ 5,328 sqft Facilities: Ground Level ~ 40m Long Lap Pool, Children Pool, Aqua...
GuocoLand has recorded a remarkable recovery in its second-quarter net profit. The property developer posted a net profit of S$60.4 million for its second quarter ending December 31, a hefty increase from its earnings of about S$900,000 a year ago. The higher profit contribution for the second quarter was mainly from property development projects in China. Strong sales from its Ascot Park development...