Work has begun on the construction of Punggol Promenade to develop the waterfront area in Punggol East. It is part of bigger plans by the Urban Redevelopment Authority (URA) to promote local tourism at lesser-known coastal areas in Singapore. Even though many of the plantations and farms in Punggol are now gone, the rustic laidback charm of the area remains and this is a major draw for residents here. By...
General
Mainboard-listed Hotel Properties has posted a 71.7 per cent drop in second quarter net earnings to S$4.4 million. Revenue for the period dropped 27 per cent to S$103.3 million as the firm's hotels and resorts' business was adversely affected by the global economic crisis. HPL, which owns hotels and properties in Thailand, said the situation there was further aggravated by political instability and the...
City Developments Limited (CDL) has become the latest property heavyweight to give a bullish outlook for the property sector. Executive chairman Kwek Leng Beng said on Thursday the recent strong home sales momentum is sustainable. The comment came as CDL booked a 15 per cent drop on-year in second quarter earnings to S$139.9 million – its fifth straight quarter of decline. Revenue, meanwhile, rose by...
Lincoln Suites, an iconic 29 storey twin height condominium has 175 units. You will be enthralled by the spectacular view from the sky gymnasium while working out on the exercise machine. In addition, there is a 360 degree Spa Pool, Therme Spa with Jacuzzi, 50 m Lap Pool, Massage Decks and a Lounge with Bar Counter. Lincoln Suites attractive location at District 11 means you are quite literally at...
The slide in office rental rates across the region has slowed, and analysts said this is a good sign the market has stabilised. A year ago, office space rental in Singapore's central business district could come up to as much as S$19 per square foot a month. Today, that rate has fallen by almost half. Singapore, which is home to Asian headquarters of a number of foreign companies, has seen rents fall...
Despite Singapore's worst economic slump since independence, the residential property sector is in the midst of a new boom reminiscent of 2007, when the city-state was known as the world's hottest real estate market. Greed and its twin brother fear are back in play as punters stake out condo launches days before sales open, with some offering blank cheques to pre-book flats, prompting the government to...
Mainboard-listed Wheelock Properties has posted an 89 per cent on-year rise in its net profit for the second quarter to S$28.9 million. However, revenue fell 10.8 per cent to S$78.4 million. The firm said this was because no further revenue was recognised from its projects, The Cosmopolitan and The Sea View, in the current period, as these projects were completed last year. In the current financial...
Property developer Soilbuild on Wednesday said its net profit for the second quarter fell 12 per cent on year to S$20.3 million. This was due to an increase in its selling and operating expenses, as well as higher finance costs. But revenue rose 10 per cent to S$96.9 million, due to the progressive recognition of income from its condominium projects such as Leonie Parc View, The Centrio, Montebleue as...
Bukit Sembawang Estates said net profit for its fiscal first quarter fell 84 per cent on-year to S$1.4 million. Revenue dropped 72 per cent to S$6.4 million. The property developer said the decline was mainly due to lower development revenue recognised on its Paterson Suites condominium. The firm noted that there has been a recent pick-up in the property sector, but said it remains cautious during this...
Mainboard-listed Allgreen Properties on Wednesday said its second-quarter net profit rose 36.2 per cent to S$23.4 million from a year earlier. This comes as the developer's revenue rose and operating expenses fell in the three months to June. Turnover increased 14 per cent to S$84.6 million due to higher revenue from development properties. Allgreen said it has benefited from the improving buying...