Property developer UOL has slipped into the red in the second quarter. The firm made a loss of S$20 million in the three months to June, compared to a profit of S$145 million in the same period last year. The loss was due to lower income from its hotel operations and fair value losses recognised for UOL's investments in United Industrial Corp and Marina Centre Holdings in the second quarter. Revenue for...
General
The Housing and Development Board (HDB) said it will launch another build-to-order (BTO) project in Punggol this month. This announcement came after its latest BTO project in Punggol received good response from flat buyers. HDB said as at 2pm Wednesday, the Punggol Residences project saw 5,147 applications for the 769 units available. This translates to a subscription rate of 6.7 times. HDB said the...
KNG Development has submitted the top bid of S$12.1 million for an industrial site at Kaki Bukit Road. The offer works out to about S$105 per square foot. Units of mainboard-listed Sim Lian Group and Soilbuild Group were among the bidders for the site. The Urban Redevelopment Authority said it received a total of 18 bids for the land parcel, with the lowest bid at S$5.2 million. The land parcel has a...
TWELVE years ago, it was a sleepy, out-of-the-way estate without even an LRT line. That was back when Dr Teo Ho Pin was first elected as Member of Parliament for Bukit Panjang. Shortly after, life began to slowly flow into the estate, with the LRT starting its runs in 1999. Come 2015, it will be connected directly to the MRT system when the Bukit Panjang station, to be located near Ten Mile Junction, is...
ONE lawyer noticed his clients being "extra cautious" when engaging him to oversee their property transactions. It was not unexpected, said Mr Suppiah Thangaveloo of Thanga and Co, given the recent series of lawyers absconding with clients' cash. "I've not heard any snide remarks but I've noticed that many of (the clients) are more inquisitive in matters concerning money," he said. "They're just being...
A cluster of 18 shophouses fronting Joo Chiat Road and Onan Road has been sold to property developer World Class Land for S$25.6 million. This translates to S$410 per square foot on the existing gross floor area of the properties. World Class Land is a unit of public-listed Aspial Corp. The freehold site consists of two back-to-back rows of nine shophouses, each three-storeys tall. The total gross...
Niche property developer Hiap Hoe said its net profit more than tripled in the second quarter from a year ago to S$9.9 million, while its turnover quadrupled to S$31.9 million. The firm said the healthy numbers were driven by the progressive revenue recognition of its new residential developments, Cuscaden Royale and Oxford Suites. By the end of June, 55 per cent of revenue for Cuscaden Royale and 62 per...
Contractors in Singapore need to look beyond the country for businesses. Despite the increasingly positive outlook for private sector construction projects, the Singapore Contractors Association said that local firms should tap into opportunities in the region. According to a forecast from the Building and Construction Authority earlier this year, demand for projects in 2009 will come in at between S$20...
Singapore’s only beachfront condominium (with direct beach-access) Location: Sentosa Cove (District 4) Tenure: 99 years leasehold Total Units: 41 Unit Size: 2,700 to 6,800 sqft, penthouses between 4,000 and 8,000 sqft Email [email protected] for more...
The Urban Redevelopment Authority (URA) is embarking on a survey to establish lifestyle needs and trends in Singapore. The findings will provide inputs to the ongoing Concept Plan 2011 Review, which maps out the long-term directions for land use and transportation plans over the next 40 to 50 years. Through this survey, URA also hopes to discover the lifestyle needs and aspirations of residents so that...