Singapore's Trade and Industry Ministry says it will release the advance economic growth estimates for the country's fourth quarter and the whole of 2008 on January 2. The announcements will be made at 8 am that day. The Singapore government has brought forward its annual budget sitting, which usually takes place in February, to January 22 next year. This is to address measures needed to tackle the...
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A PILOT project could see more privately-built and run markets and food centres in the heartlands, with Sengkang residents being the first to benefit. The latter can look forward to a new market and food centre come 2010. The Housing and Development Board (HDB) has launched a tender for a market and food centre development at Sengkang Square/Sengkang East Road. :This will be a standalone,...
Property developer CapitaLand has appointed Peter Seah as its new deputy chairman from January 2009. Mr Seah has been a non-executive director with CapitaLand since 2001. He is also appointed to chair the company board's finance and budget committee. Mr Seah takes over from the incumbent Hsuan Owyang, who has been with the company since its inception, following the merger of Pidemco Land and DBS Land....
WE REFER to the letters "Just leave me alone!" (Dec 16) by Lee Siew Hua and "A loophole, a headache" (Dec 19) by Yeo Han Tiong. We would like to clarify that the legislation already allows the subsidiary proprietors of a strata-titled development to decide on the tenure of an en bloc sale committee. A sale committee may be dissolved by way of ordinary resolution at a general meeting of the management...
Serviced apartment operator Ascott Group, a wholly owned subsidiary of CapitaLand, has secured a contract to manage its first Citadines serviced residences in Jakarta. Citadines Jakarta, located in the central business district of Menteng, will have 120 residence units and is scheduled to open in the second half of 2010. The group said there are plans to add another 100 units in the future. Citadines is...
All builders in Singapore must apply for builder's licence by June 16 next year to carry out building works here. This requirement under the Building Control Act came into effect on December 16. The Building and Construction Authority (BCA) is giving builders a grace period of six months to submit their requests to facilitate the application process for two types of licences. General Builder licences are...
Loan givers have checks done on buyer’s profile In “Risk profiling for homebuyers?”(Dec 17), Mr Ee Teck Siew suggested that the Government and industry associations consider implementing a “fact finding process” to ensure that potential home buyers buy properties they can afford, based on their abilities to service mortgage loans. Most homebuyers would need to obtain a bank loan upfront. The...
7,100 units ready in next two years, buyers may face difficulties: Analysts JUST how vulnerable is Singapore's :souring economy to a wave of defaults from private home buyers who had made use of the popular Deferred Payment Scheme (DPS)? It's a question that continues to split analysts, even as the Urban Redevelopment Authority (URA) on Friday released, for the first time, data on private homes sold...
THE value of projects under construction in Singapore is expected to be slashed next year, with the biggest impact to be felt in the central business district. The value of construction activity in Singapore is likely to fall 32 per cent to US$17 billion ($24.6 billion) next year from US$25 billion this year, said BCI Asia Construction Information, a construction industry research company that undertook...
10,450 private homes sold under the Deferred Payment Scheme are still uncompleted as of end November. This is according to figures released by the Urban Redevelopment Authority for the first time. The report comes amid concerns that a large number of uncompleted homes bought under the scheme may be sold at distressed prices as the property market softens. 68 per cent of uncompleted homes sold under the...