Sun Hung Kai Properties, Asia's biggest developer by market value, has suspended trading of its stock, pending the release of a statement that could be "price sensitive", the company said. The announcement came as local media reported that its billionaire co-chairmen Thomas and Raymond Kwok were asked to assist in an investigation by Hong Kong's anti-graft agency. The company also suspended trading of two...
Overseas Property
Chinese home prices fell last month from January for a fifth consecutive month and are expected to continue heading south in coming months, underlining the success of Beijing's long campaign to cool property market speculation. Average new home prices across China fell 0.1 per cent last month, versus a drop of 0.2 per cent in January, according to Reuters' weighted home price index based on data announced...
Malaysia's state-backed fund, Permodalan Nasional Berhad (PNB), has acquired two landmark London offices for around £500 million (S$1 billion) in the latest example of continued overseas interest in the UK capital. PNB bought One Exchange Square in the City, the famously lavish home of the European Bank for Reconstruction and Development; and 90 High Holborn, the headquarters of law firm Olswang. The...
China's home prices for last month posted the biggest decline in 19 months as the government pledged to maintain curbs on property, according to SouFun Holdings, the nation's biggest real-estate portal. And market watchers expect prices to continue to fall, with no signs of the curbs easing in sight. Home prices dropped 0.3 per cent last month from January, according to SouFun, which began compiling the...
Property developer Keppel Land said Takashimaya will be an anchor tenant in its upcoming mixed-use project in Ho Chi Minh City, Vietnam. In a joint news release, Keppel Land said the retailer will take up 15,000 sq m of retail space across five floors of its Saigon Centre Phase 2, which broke ground in November last year. It signed the conditional agreement with Takashimaya Singapore. Keppel Land said it...
Shanghai eased home purchase restrictions to allow a broader pool of buyers to purchase a second property in China's financial centre, the Shanghai Securities News reported yesterday. The city loosened its definition of locals to allow residence permit holders who have lived in the city for at least three years to buy a second home, the newspaper said, citing an unidentified official of the city's housing...
Swire Properties said yesterday that it plans to build a 2.9-million-sq-ft project in Miami's financial district. The Hong Kong-based company had previously said that the development, Brickell CitiCentre, would cost about US$1.05 billion (S$1.3 billion). It said the project would include three office towers, two residential blocks, 500,000 sq ft of shopping and dining space, as well as a hotel, with...
Developers in India holding property fairs here as record-low rupee entices and cooling measures bite Mr Vivek Sharma, like many Indians who came to Singapore for work, failed to jump into the island state's booming property market before the government imposed taxes to deter foreign buyers. Now, he is joining thousands of his compatriots who are taking advantage of the drop in the rupee to a record low...
China will limit mortgages for home purchases by foreigners to curb overseas investment, as part of its continued efforts to lower property prices. According to the National Development and Reform Commission, China’s planning agency will not approve medium- and long-term foreign debt quotas for overseas banks this year, if they intend to use such borrowings to fund home loans taken out by...
Property developer OSK Property Holdings Berhad (OSKPH) will preview two of its Malaysian residential developments: the Mirage Residence and Mirage by the Lake on 4 and 5 February 2012, between 10am – 6pm at Hilton Hotel Singapore. Located in bustling Cyberjaya, Mirage by the Lake boasts scenic views of a lake with a hill behind, a location that is highly regarded in terms of Chinese fengshui, said...