ASIAN debt managers expect real estate developers and companies in China, South Korea and Australia to provide them with the most investment opportunities next year, an industry survey shows. Economic recession, slowing consumer spending and shrinking bank lending indicate a growing number of Asia-Pacific companies will face difficulty refinancing debt next year, according to a survey of 100 hedge fund...
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Singapore-listed property counters have been massively sold down in recent weeks. They are underperforming the benchmark STI, with losses of about 61 per cent year-to-date. With the outlook for the sector still cloudy, analysts say they would prefer to remain cautious on these property stocks for the year ahead. Weak new home sales in Singapore have translated into soft earnings, a poor outlook, and...
Singapore is the 12th most expensive city in Asia, according to a global survey on cost of living by international human resource company ECA International. The country jumped 27 places, and is one of Asia's biggest movers. Hong Kong was ranked 6th, while Tokyo took the top spot. For the first time, Beijing overtook Hong Kong as the most expensive Chinese city. The survey noted that the cost of living...
The Singapore government will not be adding any new sites to its land sale programme for the first half of next year. The National Development Ministry (MND) says this is because the global economic outlook remains weak in 2009. This is expected to have an impact on Singapore's economy and property market. MND released its list of land parcels available for sale in the first half of next year on...
Singapore's Marina Bay Sands integrated resort will unveil details of plans for its retail space after the Chinese New Year in January next year. Recent reports said its parent company, Las Vegas Sands, is facing financial difficulties. But the Singapore firm remains confident about prospects for its retail business. The S$5.4-billion Marina Bay Sands project is still being built. When completed, it will...
There is a sparkle in the air at Bella Ville. Enjoy special moments in one of our 6 clustered bungalows or 4 semi-detached homes where languid days and nights roll by patios and balconies under blue, blue skies. Location: Siak Kew Ave (District 13) Type of Development: Cluster Bungalow and Semi Detach Tenure: Freehold Year of Completion: 2012 Total Units: 10 Unit Types: Semi-Detach ~ 5+1 3089 sqft / 3444...
Citigroup fired most employees at its real estate investment banking team in Asia after slumping property prices stifled share sales and acquisitions in the industry, three people familiar with the matter told Bloomberg News. The New York-based bank dismissed at least five people two weeks ago, the people said, declining to be identified because they aren't authorised to discuss the matter publicly....
Going by past recessions, it could take nine more months before prices fall FOR first-time flat seekers like Mr Neo Tze Siang, the economic downturn was meant to provide some respite from HDB prices pushed skyhigh by the property boom last year. But despite the raft of job cuts and the gloomy economic forecasts trotted out, HDB prices are showing few signs of sliding. “We hear about private property...
Residents react, as 10 new sites for temporary housing unveiled AS THE Government unveiled 10 more sites for temporary foreign worker accommodation, some lessons appear to have hit home for residents, their representatives and policymakers alike from the Serangoon Gardens episode two months ago. In the Serangoon Gardens case, homeowners tipped off before any official announcement had opposed the idea...
Property developer CapitaLand said on Tuesday it will not be laying off staff for now. Instead, executive-level staff will take pay cuts of between three and 20 per cent as part of the company's cost management measures. In a statement, CapitaLand said the cuts are due to the deteriorating global financial environment and economic uncertainties. President and CEO Liew Mun Leong will bear the maximum...