Ascendas Real Estate Investment Trust (A-REIT) is buying a business park building in Jurong for S$246.8 million. The property at 31 International Business Park is currently owned by multimedia firm Creative Technology. It has a gross floor area of about 62,000 square metres and a net lettable area of some 50,000 square metres. It includes three office towers, an auditorium and a 2,000-capacity outdoor...
General
Conglomerate Fraser and Neave (F&N) on Friday said it is looking to expand its food and beverage business in a bid to rebalance profit contributions from its other businesses. For the half-year ended in March, F&N booked a nearly 12 percent rise in earnings on-year to S$205 million. Revenue rose by the same margin to S$2.5 billion. The property business is driving growth for F&N. Commercial...
Fairmont Raffles Hotel Int'l sells its stake in Raffles Hotel to ex-Credit Suisse banker THE Grand Dame of Singapore will be getting a new master — yet again. Fairmont Raffles Hotel International — controlled by Saudi Arabian billionaire Prince Alwaleed bin Talal and United States-based private-equity company Colony Capital — is selling its stake in the 120-year-old Raffles...
Property developer Yanlord Land on Friday said its first quarter net profit more than tripled on year to S$9.3 million. This was due mainly to a sustained growth in demand and higher average selling prices for its high-end residential units in the quarter. Revenue rose 30 per cent on year to S$116.2 million. China-based Yanlord said the mainland's real estate sector continues to show strong growth...
Location: 316-328 Upper East Coast Road (District 16) Land Size: 96,614sqft Tenure: Freehold Year of Completion: 2011 Total Units: 88 Unit Types: 2/ 3/ 3+1/ 4 and penthouse Nestled within the residential enclave of East Coast that enjoys the serenity and tranquility Close proximity to Changi International Airport , East Coast Park and CBD. Eateries and cafes along the stretch from Katong to Siglap. Near...
PLEASE refer to Monday's article, 'En-bloc uproar at Bayshore Park, Mandarin Gardens' by Ms Jessica Cheam, and the letter by Mr Augustine Cheah, 'En-bloc system needs relook, as Bayshore shows'. The Mandarin Gardens collective sale committee would like to clarify that it was not involved in the proceedings of the annual general meeting on April 27. However, we know of members who attended as legal owners...
International students in Singapore will soon have more housing options. With more students from overseas studying here, demand for hostels has increased. So the Singapore Land Authority (SLA) doubled the tenders awarded to hostel tenants between 2006 and 2007. The camp site at Jalan Bahar in Jurong used to belong to the Singapore Civil Defence Force. It now has a new lease of life - as apartments for...
Inflation is a more serious problem for Singapore and other Asian economies than an economic slowdown in the United States, according to HSBC's senior Asian economist, Robert Prior-Wandesforde. He said if inflation continues to push upwards, Asia could find itself facing an economic slowdown next year. His comment came at a seminar organised by the Singapore International Chamber of Commerce. Inflation...
Property developer Ho Bee has reported a 62 percent drop in first quarter net profit to S$26 million. Its revenue also fell 62 percent to S$94 million. Ho Bee said this was mainly due to the lower recognition of revenue from a property development project, The Coast at Sentosa Cove. The company also noted that the global economic and financial uncertainties caused by the US sub-prime crisis will continue...
CapitaLand's Ascott unit has bought an existing serviced residence in London for S$116.4 million. The property is located within London's 'Midtown' region at High Holborn. Ascott is currently leasing the property from Land Securities, the UK's largest real estate investment trust. The property is being operated under the brand name Citadines London Holborn-Covent Garden. The 192-unit serviced residence...