Singapore's property giant CapitaLand is busy looking at investment opportunities in key markets like China, as part of a strategy to weather the current economic downturn. The developer has been successful in developing projects in Shanghai and Beijing, and is now looking into second-tier cities on the Chinese mainland. Last year alone, CapitaLand China more than doubled its earnings to a record US$646...
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Association calls for landlords to cut rents by 20-30 per cent, with 20,000 jobs on the line WITH sales plunging by 20 to 30 per cent and profit margins "almost negligible if not negative", 20,000 jobs - that's a fifth of retail employees - are at stake as stores face the real prospect of folding. This is red alert sounded by the Singapore Retailers Association (SRA) after an emergency meeting on...
Mixed views on whether pricing is attractive to buyers THE first batch of HDB flats for this year has been launched, but do they reflect homebuyers‚ budgets in this downturn? And are their prices an indication of what to expect from other projects later this year? Champion Court, at the junction of Champions Way and Woodlands Avenue 1, was launched yesterday under the Build-To-Order (BTO) system, where...
The new build-to-order (BTO) flats at Champions Court in Woodlands caught their eye, but the young couple decided to stick with their application for a four-room flat at Sengkang even though prices were similar. Why? Bride-to-be Izyanty Asmary, 23, said she was “not comfortable” with having studio apartments — targetted for senior Singaporeans — in the same residence, and the Woodlands flats...
End 09, early next year could be better, says CDL chief CITY Development Limited (CDL) believes it is too early for it to start snapping up property in the downturn. "The buyer-seller price gap is too wide still, so it's not time to buy. The end of the year, early next year could be better," said City Developments Limited's (CDL) executive chairman Kwek Leng Beng at the group's annual results briefing...
Allgreen Properties saw its 2008 net profit fall 86 per cent from a year ago, when it recorded big gains. It has warned that this year is shaping up to be a difficult period. Net profit for the year ended Dec 31 was $67.4 million, compared with$493.5 million a year ago. The company had booked a $362 million fair-value gain from investment properties for 2007. "2009 is shaping up to be a difficult year...
OVER the years, I have seen many green swathes of the forest which had once covered Singapore being replaced by new buildings, shopping centres and so on. The area where Nan Hua High School now stands used to be covered with tall, old trees, now an increasingly rare sight here. The green hill opposite Wheelock Place where many enjoyed having picnics has now made way for the new ION Orchard. One of the many...
BelleRive conveys an undeniable presence at Prime District 10, situated only 5 minutes from Orchard Road, The Singapore Botanic Gardens and within 1 km from prestigious schools like Anglo-Chinese School (Barker Road) and Singapore Chinese Girls' School. Location: Keng Chin Road (District 10) Tenure: Freehold Year of Completion: 2012 Total Units: 51 (1 block, 15 storeys) Unit Types: 2 bedroom ~ 958 |...
European hotel developer Accor opened a new hotel in Singapore on Thursday, and announced that it is starting work on another hotel to be launched in 2011. Despite the weak global economy and dwindling visitor arrivals here, Accor said it still has a positive long-term outlook on the Singapore tourism sector. The firm invested S$145 million into its latest property called Ibis Singapore on Bencoolen in...
The Singapore Retailers Association (SRA) says that 20,000 employees may be retrenched as a result of store closures, if landlords do not lower rentals. It says members' incomes have contracted by 20 to 30 per cent over the last few months, and that margins are now almost negligible, if not negative. Yet, rental rates have not come down for many retailers, says the association. Occupancy costs have...