An ultra-luxurious hotel has opened its doors in Singapore amidst dwindling tourist numbers here and in the region. Capella Singapore, located on Sentosa island, welcomed its first guests on Monday. The S$400-million hotel is set within more than 12 hectares of sprawling land and lush greenery. It boasts 111 rooms, including 32 private villas – the first of its kind on Sentosa which come with their own...
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By end-2011, Singaporeans will enjoy motor racing in the country's first permanent track. The Singapore Sports Council (SSC) has called for tenders or a Request For Proposal for the Changi Motorsports Hub. The 3.5-kilometre-long track will sit on a 41-hectare site, which is about the size of 58 football fields. It will face the sea, near Singapore's Changi Airport on the eastern end of the island. The...
Housing budgets at the top end have been slashed, but limited supply make these black-and-white bungalows built during the British colonial periods in the early 1900s coveted lifestyle homes for expatriate families JUST LAST MONDAY, Brandon and Gabrielle Batagol, together with their three young children, Zac, nine, Mathilde, seven, and Brigitte, four, moved into their brand-new black-and-white bungalow on...
The credit crunch and a soft property market are putting the squeeze on Singapore property trusts, according to analysts. They expect more cash-strapped REITs to seek funding through rights issues in the coming months. Analysts added that some three to four smaller players may end up being absorbed by their bigger counterparts. There are currently 21 REITs listed on the Singapore Exchange (SGX). Banks...
CapitaMall Trust said Friday its rights issue was 1.16 times oversubscribed. Under the exercise first announced in February, the real estate investment trust offered nine rights for every 10 existing units held at S$0.82 each. CMT plans to use a major portion of the proceeds to repay borrowings totalling S$956.2 million due this year. The offer closed on Wednesday. CapitaMall Trust is a unit of real...
The number of repossessed properties put up for sale by banks and financial institutions in Singapore rose by 18 per cent in the first three months of 2009 compared to the previous quarter. A total of 53 properties were repossessed in the first quarter of 2009, up from 45 in the previous quarter. Real estate consultancy firm Colliers International said its findings indicate a continued trend in mortgagee...
Twenty-four stallholders at Chinatown's night market along Pagoda Street have been asked to move. But some are unhappy, saying they would rather stay put. Their relocation is part of efforts by the Singapore Tourism Board to redevelop the area. Stallholders were initially given until the end of March to move out, but now they have until the end of next month. Negotiations between the Chinatown Business...
Shopping malls Anchorpoint and Liang Court have been named the first two Energy Smart Retail Malls in Singapore by the National Environment Agency. This is in recognition of their energy-saving measures to improve energy efficiency and lower operating costs. Anchorpoint spent some S$455,000 to retrofit its chiller system. That helped to reduce its electricity consumption by 1,192 megawatt-hours every...
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CapitaMall Trust said its S$1.23 billion rights issue has been oversubscribed. The offer closed on Thursday, and final results will be released soon. CapitaMall Trust, a unit of CapitaLand, said last month that it would offer nine rights for every 10 existing units at 82 cents each. It said a major portion of the proceeds would be used to repay borrowings of S$956 million due this year. Source :...