Singapore's construction consultancy exports have increased despite the bustling domestic market. This is according to a survey conducted by the Building and Construction Authority. Singapore consultancy firms secured a total of 406 projects in 2007 or up some 13 per cent on year. The most sought-after services were for architectural and master-planning services, constituting more than half of the total...
General
Capitol Centre at Stamford Road may be demolished to make way for a new hotel to meet demand for hotel rooms. The location is one of eight confirmed sites that have been released for sale, under the Government's Land Sales programme. The Ministry of National Development also announced on Thursday that it will release enough land to potentially build nearly 8,000 private residential units, in the second...
The massive road intersection between Serangoon and MacPherson Roads will be upgraded at a cost of 130 million Singapore dollars and will be completed in 2011. The Woodsville Interchange is one of the busiest in Singapore. In each hour during peak periods, over 8,500 vehicles ply the four arterial roads that form the intersection. The roads are Serangoon, Upper Serangoon, Bendemeer and MacPherson...
Hong Kong and Singapore are the two economies most conducive to global trade, according to a ranking by the World Economic Forum released on Wednesday. The World Economic Forum's new Global Enabling Trade Index survey of 118 economies looked at ten factors impacting trade, such as tariffs, customs administration efficiency and availability of transport and communications infrastructure. Tourists in...
Keppel Land has bought a 10 hectare site in Shenyang's Shenbei New District for about S$31 million. This parcel is located next to another site which Keppel bought in August 2007. The combined area of some 34 hectares will house an integrated township development, with a mix of mid- and high-rise apartment blocks. The new township is surrounded by residential, commercial, high technology industrial...
The Urban Redevelopment Authority has launched a residential site at Tampines Avenue 1/Avenue 10 for sale by public tender. The land parcel is one of four new residential sites to be offered for sale as a confirmed site under the Government Land Sales Programme for the first half of this year. The 99-year leasehold site spans about 3.2 hectares. It will have a maximum permissible gross floor area of...
PRIVATE property sales by developers remained weak last month, with 441 units sold. That may be up 55 per cent from the 284 units sold in April, but over 3,000 new units remained unsold. That was despite developers cutting their prices for homes in 18 developments last month. Median prices for The Verve along Jalan Rajah, for example, dropped 17 per cent from $1,187 per sq ft (psf) in March to $985 psf in...
There has been a sharp pick-up in the number of private home sales in May - more than 441 homes changed hands, about 56 per cent higher than the previous month. Despite the spike, analysts said it is premature to talk about any strong rebound in the property sector. Colliers International’s director of research and advisory, Tay Huey Ying, said: “I wouldn’t say that this set of May numbers give a...
There will be changes to the CPF Minimum Sum, the Medisave Minimum Sum and the Medisave contribution ceiling from July 1. The CPF Board said the new CPF Minimum Sum will be S$106,000, up from S$99,600 currently. CPF Members who set aside this amount will get a monthly payout of S$910 from age 64 for about 20 years. The new Medisave Minimum Sum will be S$29,500, up from S$28,500. The Medisave...
Private-sector economists are a little less optimistic about Singapore’s economic growth this year than they were three months ago. According to the latest quarterly survey of 21 professional forecasters by the Monetary Authority of Singapore, they expect full year growth to come in lower at 5.5 per cent. The new forecast is a slight downgrade from the 5.6 per cent estimate in the last survey in March....