AMID growing talk of economic green shoots, local developers of high-end private homes rolled out 339 units last month - nearly five times the number in March, according to statistics released on Friday by the Urban Redevelopment Authority. And they were not disappointed, as demand kept up with supply that month. Some 332 private homes in the prime Core Central Region were sold last month, marking the...
General
Private home sales in Singapore dipped slightly in April, but remained above the 1,000-unit mark for the third straight month. Latest figures from the Urban Redevelopment Authority (URA) showed that 1,207 units changed hands, about one per cent shy of the number of sales transactions in March (1,220 units). Demand for new private residential properties picked up recently because of lower home prices and...
Hotels and resorts developer Banyan Tree Holdings has posted a first quarter net profit of S$5.2 million, down 66 per cent on-year. Revenue also fell by 33 per cent to S$88.2 million in the three months ended March 31. The company attributed the decline mainly to lower performances from its hotel investment, property sales and hotel residences segments. Banyan Tree said its performance in the next two...
PCOMING supply and concerns about payment defaults by customers on the deferred payment scheme (DPS) are some reasons the luxury residential segment is not out of the woods yet, according to UOB Kay Hian analyst Vikram Pandey. In a research report dated May 12, he said 2,665 units would hit the high-end market this year, followed by 3,182 next year and a whopping 5,245 units in 2011, based on official...
Property developer Soilbuild has tripled its net profit for the first quarter, seeing earnings rise to S$19.5 million. Revenue for the three months to March doubled to S$64.7 million. The higher revenue contributions came mainly from the firm's four residential projects - Montebleu, The Centrio and Espa - which are fully sold, and Leonie Parc View. Its Tuas Lot business space factories also contributed...
United Engineers reported a 593 per cent improvement in net profit surge to S$8.5 million in the first quarter of this year. Revenue for the company also grew 11 per cent to S$148.9 million. The company said this is mainly due to progressive recognition of revenue from the sales of its residential projects, The Rochester in one-north and Park Central @ AMK in Ang Mo Kio. United Engineers said it has an...
Construction firm Lum Chang has posted a third-quarter net profit of S$3.7 million, an increase of two per cent on-year. In the same period, its revenue grew by three per cent to S$51.6 million. The firm said this was due to revenue recognition from four construction projects, which amounted to S$42.3 million. The group's net profit for the first nine months dropped by 23 per cent to S$4.7...
Singapore ranks among the top three places in the world in terms of being an attractive financial centre for "mobile wealthy" individuals, including doctors, lawyers and entrepreneurs. Media reports quoting a survey by international wealth management consultancy Scorpio Partnership said Singapore was beaten to the top spot by Switzerland, with London coming in second. The reports said Switzerland came...
Situated up on the higher grounds of Mount Sinai, The Trizon is a luxurious condominium comprising only 247 units of 2- to 5-bedroom apartments. With only three 24-storey towers on one of the largest parcels of freehold land in District 10, residents can anticipate plentiful space, incredible breezes and greenery. You will be spoilt for choice as the units are exceptionally spacious, efficient and no...
UOL Group on Tuesday said its net profit surged 674 per cent to S$332 million in the first quarter this year. It said this was due to gains of S$278 million that came about from negative goodwill after it acquired UIC shares. UOL also attributed the performance to the lowering of the Singapore corporate tax rate to 17 per cent from 18 per cent. Revenue also went up by 22 per cent to S$196.7 million. The...