National Development Minister Mah Bow Tan has given the assurance that no household will be left out of the benefits of basic home improvement works. Mr Mah, who is also MP for Tampines GRC, was speaking at the launch of an upgrading project at a Tampines precinct. Under the scheme - known as the Home Improvement Programme - introduced last year, basic repairs are fully funded by the government, while...
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But sector’s outlook still cloudy on slower growth DEVELOPERS sold 897 private homes out of the 1,322 launched last month, the highest number since last August, according to monthly data released on Friday by the Urban Redevelopment Authority (URA). This represents a 68-per-cent take-up rate. While the sales were a modest increase from June, when 1,069 units were launched and 801 sold, there was little...
New home sales rose for the third month in a row in July. However, the pace of growth slowed significantly, with developers launching more homes than they could sell. According to latest figures released by the Urban Redevelopment Authority (URA), buyers picked up some 900 new private homes last month, 12 per cent more than in June. This comes after new home sales almost doubled between May and June. But...
The design of Miro is a creative mix of Barcelonian art, architecture and music. Adopting a clean and minimalistic fashion palette, the Mediterranean feel of Miro is invoked through simple designs with special attention to details. Situated at No. 1 Lincoln Road, Miro is close to cosmopolitan Orchard Road as well as bustling Novena. Newton MRT station is also within walking distance. Unit sizes range from...
Some frightened investors selling homes cheap: Developer AS HIGH-END home prices fall, Mr Kwek Leng Beng says there are now some bargains available for smart investors. “What has gone up very high in a straight line will also come down,” said the executive chairman of one of Singapore’s biggest developers, City Developments (CDL). And as prices fall, Mr Kwek said there will be some desperate...
Move is milestone in S’pore’s push to develop alternative mode of investment City Developments (CDL) is raising $1 billion in Islamic debt through a pioneering notes programme as a means to diversify its sources of financing. This will be Singapore’s first Islamic Sukuk-Ijarah unsecured financing arrangement by a company, marking a milestone in the Republic’s push to develop Islamic finance as an...
Frasers Centrepoint has completed its acquisition of an 18-per-cent stake in Allco Reit and all of Allco Singapore, which manages the property trust. Allco Reit will now be renamed Frasers Commercial Trust following the $180-million deal. Frasers Centrepoint has now dropped plans to list its own separate commercial property trust. Instead, it will offer its current portfolio of commercial assets, worth...
Upping the swank factor While almost everybody else in China was glued to news about the Olympics, Singapore-based Frasers Hospitality yesterday opened its swankiest digs to date in the country, the 357-unit Fraser Suites CBD in Beijing, which cost US$135 million ($190 million). Singapore President S R Nathan, in the Chinese capital at the invitation of that country’s government to watch the Games,...
With no new major buildings yet completed, supply of office space continues to be tight in the Central Business District (CBD). In the wake of unceasing uncertainties in the wider economy and high office rentals, more companies are adopting a cautious business approach, gravitating towards cheaper premises like decentralised office buildings, industrial properties, business parks and disused State...
S’pore contractor is happy concocting his own brews For small-time contractor Ernest Ng, the recent property boom largely passed him by. High material costs and the difficulty in getting skilled labour has made him reconsider the wisdom of staying on in the business. “The Government has said that the construction industry will be one of the sectors that will remain buoyant. But for small timers like...