Singapore-listed Keppel Land is making its first foray into Sri Lanka with the signing of a conditional joint venture agreement with CT Properties, a leading property developer in Sri Lanka. The joint venture will develop a luxury condominium project with about 260 residential units in the affluent Kotahena district in Colombo, the commercial capital of Sri Lanka. In a statement released on Friday,...
Overseas Property
Mainboard-listed Straits Trading Company has acquired the Rendezvous Grand Hotel Melbourne for S$79.3 million. The company said this latest acquisition will add to its Rendezvous Hospitality Group portfolio. It will also strengthen and expand its footprint in the Asia Pacific region amid growth in travel and tourism. Mr Eric Teng, Straits Trading's Chief Executive Officer (Property & Hospitality)...
Property prices here grew at a slower pace and sales fell in the second quarter as global stock markets weakened, but the risk of a bubble will remain as long as interest rates stay low, the city's Financial Secretary warned yesterday. Mr John Tsang told legislators that market sentiment had moderated in the past two months after a sharp rebound in February. In May, prices grew by less than 1 per cent and...
They might be the urban dwelling of the future: Studio apartments measuring no more than 28 sq m. New York City planners believe the tiny units could be the answer to a growing population of singles and two-person households. And in a nation that is increasingly populous and urbanised - where people are more frequently creating a family of one - such downsizing may not stop here. Mayor Michael Bloomberg...
Baha Mar, the highly anticipated US$3.5 billion (S$4.48 billion) integrated destination resort currently being built in The Bahamas, will launch residential sales in Singapore this weekend, June 29 – July 1, 2012, at the Conrad Centennial. Singapore world travellers are invited to own a piece of the 400-hectare multi-property resort enclave, which will feature top hotel brands Rosewood Hotels &...
The number of property purchases in some major Chinese cities has picked up, as regulators struggle to combat rumours that Beijing is preparing to loosen curbs on real estate investment to combat slowing economic growth. Property sales in cities including Hangzhou, Shenzhen and Nanjing have sped up in recent months, the official Shanghai Securities News reported. Chinese regulators continue to deny...
Sydney is Australia's most populous city and its housing sector offers investors unique opportunities with the security that comes with investing in a large and rapidly expanding market. Property prices in Sydney have increased 25 per cent in the last four years, during which many other housing markets around the world have stagnated or even gone backwards. The reason that Sydney's housing prices have...
Hong Kong's property market faces great corrective pressure amid threats from the euro zone crisis and macroeconomic volatility, causing uncertainty for home buyers, Financial Secretary John Tsang said on Monday. Mainland China has seen the world's fastest-growing prices over the last five years, up 111 per cent through the end of last year, with Hong Kong in second place at 94 per cent, according to...
SC Global Developments is acquiring a resort development site in Bali for US$32.5 million (S$40.69 million) via a wholly-owned subsidiary called Tanah Investments Pte Ltd (TIPL). TIPL will acquire shares in two companies, Lotusvale Ltd and Tannerson Ltd, to form an entity, PT Tanah Green Investments (PTTGI), which will undertake the acquisition of the site. SC Global said the price tag was based on a...
The pace of China's economic growth has eased markedly but investment interest in the country, especially in second-tier cities such as Chengdu, by investors from Singapore appears to have waned little. Take Frasers Hospitality, the serviced apartment arm of conglomerate, Fraser & Neave, for instance. It is already looking for a second and perhaps even a third property following the official opening...