Ratings agency Standard & Poor's said Singapore Real Estate Investment Trusts (S-REITs) can cushion against external shocks in the event the economic downturn is prolonged. In a report, S&P said three factors will offer S-REITs some buffer – cash flow resilience of the underlying properties, strong management of operations and strength of the S-REITs' sponsor or key shareholder. S&P also...
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CEL Development is launching the remaining units of its Oasis @ Elias condominium at Pasir Ris on Saturday. Half of the 142 units previewed have been sold, at an average price of S$670 per square foot. The units that have been sold included six of nine penthouses in the property. Marketing agent CB Richard Ellis said HDB upgraders made up 80 per cent of the buyers. The strong take-up rate reflects the...
While several new malls are being built along Orchard Road, Meritus Mandarin Hotel has been quietly renovating its shopping wing. Mandarin Gallery will re-open in December, competing with new entrants on the prime shopping district for the retail dollar. Meritus Mandarin Hotel is turning its lobby, ballrooms and function rooms into retail space - offering four floors of shopping. The new mall will have...
Global luxury retailer Louis Vuitton has said it is in discussions to open a store at one of the two upcoming integrated resorts in Singapore scheduled to open next year. This was revealed at a preview of its latest global store, which will open at ION Orchard on Friday. Jean-Baptiste Debains, president of Louis Vuitton Asia Pacific, said: "We're looking at it seriously. No decision has been taken now,...
An increasing number of people have been taking on green initiatives, including companies. But what about cities? The World Bank has just launched its Eco2 Cities programme which proposes a set of guidelines that will help cities and governments move in the right direction. The programme is aimed at encouraging cities to think of longer term, sustainable options. The World Bank said if developing...
The government will introduce three new sites in its industrial land sales programme for the second half of the year. The Trade and Industry Ministry says this is to meet potential demand for industrial land. With the addition, there will be nine sites on the Reserve List. The three new sites are parcels at Woodlands Avenue 12, Kaki Bukit Avenue 4 and Ubi Road 1/Ubi Avenue 4. The nine sites on the...
Location: Balmoral Road (District 10) Tenure: Freehold Site Area: 102,183 sqft Year of Completion: June 2014 Total Units: 85 Unit Types: 2 bedroom ~ 1,324 sqft (20 units) 3 bedroom ~ 1,636 – 2,809 sqft (31 units) 4 bedroom ~ 2,174 – 2,745 sqft (29 units) Penthouse ~ 3,509 – 6,168 sqft (5 units) Highlights: * Prestigious residential enclave in District 10 address * Panoramic views towards lush...
More banks here offering new competitive rates A HOME loan war is hotting up among banks in Singapore, with new player the State Bank of India (SBI) and Standard Chartered Bank launching attractive home loan packages this week that could potentially stir other banks to respond with even more competitive packages. SBI - India's largest bank that only started operations here last year - has offered a...
The property rush continues to grab the headlines with queues at new launches and crowds at show flats. Perhaps a sobering reminder would be the still declining prices based on the Urban Development Authority’s (URA) flash estimates released earlier this Wednesday. The price index for private residential property is still falling, albeit at a slower rate. Overall residential prices fell by 5.9% in 2Q09...
Private home prices in Singapore have fallen for the fourth straight quarter, though at a slower pace. Initial estimates from the Urban Redevelopment Authority (URA) on Wednesday showed that the cost of private residential properties fell by 5.9 per cent in the second quarter, compared to the record drop of 14.1 per cent in the previous quarter - the steepest fall since 1975. Observers projected that...