Wing Tai Holdings on Friday announced a profit of S$22.3 million for the fiscal second quarter. This was a 7 per cent increase from the corresponding period last year. Revenue for the quarter came in at S$177 million. This was a 93 per cent increase from the same period last year. For the half-year ended 31 December 2009, the Group posted a revenue of S$454.3 million. This was a 101 per cent increase...
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A Singaporean who only wants to be known as Mr Tan put his three-bedroom, 1,528 sq ft unit at Chuan Park condominium on Lorong Chuan for sale a month ago. Within a day, he found a buyer who was willing to pay his asking price of $980,000, or $641 psf. “We sold because the price reached our expectations,” he says in a phone interview. “The property may be old, but it is well-maintained. Rental demand...
Developers still appear hungry for land that can be used for condominium development. A tender for a land parcel in Sengkang saw robust bidding, with the top offer coming in at over S$200 million. Industry experts said it is a sign that appetite among developers to snap good sites is currently on a high. The site at Sengkang West Avenue and Fernvale Link received bids from 10 developers. Sunmaster...
CapitaMalls Asia has agreed to buy the Meili Mall in Chengdu for about S$95 million. The seller is Chengdu Vanke Property. Including fitting out works, CapitaMalls Asia's estimated total expenditure on the mall is S$106.9 million. The mall is part of a mixed-use development, comprising retail and residential components. It is currently being developed by Chengdu Vanke Property and expected to be...
The property collective sale market got an early boost with the year's first successful deal for the freehold three-storey industrial terrace factory building at No 6 Jalan Ampas, off Balestier Road. The three-storey strata-titled industrial factory building sits on a 27,838 sq ft land plot. Upon rezoning, the site may be redeveloped into a freehold high-rise residential development with a gross floor...
CapitaMalls Asia's net profit in 2009 jumped 235 per cent on-year to S$388 million. In its maiden full-year results since listing last November, CapitaMalls Asia said the boost to the bottom line came mainly from its China market. It also said it may benefit from the recent moves by the Chinese government to tighten credit. Consumer spending in Asia has remained robust despite the economic downturn,...
An upcoming mall in Serangoon Central, called nex, has leased out about 90 per cent of its space some nine months ahead of its official opening in November. The mall's developer, Gold Ridge, said it has signed on the Serangoon Public Library as the newest anchor tenant at the complex. The new public library will occupy about 17,000 square feet of space and is scheduled to open to the public in March...
The strong response to Allgreen Properties’ private preview of Holland Residences at the corner of Taman Warna and Holland Road last week has created a buzz among owners of apartments at Holland Hill Lodge at the corner of Queensway and Holland Hill. Last week, the owners of the 11 units at the development collectively put up their three-storey apartment block for sale by tender, with an indicative...
Hot on the heels of the successful private preview of City Developments Ltd’s 177-unit Cube 8 on Thomson Road, with 85% of the units sold in four days at an average price of S$1,250 (RM3,025) psf, Allgreen Properties started private previews at its 83-unit high-end condominium, Holland Residences, last Monday. All 35 units released in the first phase were taken up by Wednesday, and another 33 units were...
Serangoon residents will have a new public library in March next year. The National Library Board (NLB) announced on Wednesday that the new Serangoon Public Library will be located at "nex". "nex" is a mega eco-friendly mall linked to the new 16-bay Serangoon Bus Interchange and the stations of the new Circle line and existing North East line. The Serangoon Public Library will cater to some 122,000...