Ascott, CapitaLand's wholly-owned service residence business unit, will open its first serviced residence in India and operations will start from August 1. The 96-unit property - Citadines Richmond Bangalore - is strategically located along Bangalore's well-known Richmond Road in the Central Business District. The property offers a mix of spacious studio, one- and two-bedroom apartments as well as...
Overseas Property
PACE Development on Wednesday announced its Singapore roadshow for Thailand's super luxury Ritz-Carlton Residences development. The Thai residential property developer, which focuses exclusively on prime-location projects, said that strong interest from Singapore investors led them to stage the roadshow for the Ritz-Carlton Residences, Bangkok. The Ritz-Carlton Residences, to be located in Bangkok's...
Millennium & Copthorne Hotels (M&C) made its first investment in the Japanese hotel market. Its wholly-owned subsidiary, CDL Hotels has bought a property in the Ginza district of Tokyo for 9.5 billion yen (73.6 million pounds). The M&C said it intends to build a hotel on the site and construction is targeted to be completed by the end of 2014. The development project will be project managed...
There is growing interest among Singaporeans in investing in residential properties outside the country following the fourth round of property market cooling measures announced in January. The measures include increasing the holding period for the imposition of seller's stamp duty to four years and lowering the loan-to-value-limit to 60 per cent on second and subsequent mortgages. With a bullish...
Mapletree Investments, a property arm of Singapore investment company Temasek Holdings, is in discussions to buy the Festival Walk retail complex in Hong Kong's Kowloon Tong district, the Sing Tao Daily reported yesterday, citing an unnamed person familiar with the matter. Sing Tao said Hong Kong conglomerate Swire Pacific may divest Festival Walk for HK$22 billion (S$3.5 billion). If successful, the sale...
Mapletree Investments has broken ground for its VivoCity Nanhai in Guangdong, China. The four-storey shopping mall is slated to open in 2014 and will have a gross floor area of more than 100,000 square metres. It is part of the proposed 42-hectare Nanhai Business City developed by Mapletree that will feature retail, residential, hotel and office components. Nanhai is where the cities of Foshan and...
ong Kong is facing a bubble and the government is ready to introduce drastic measures if necessary, Financial Secretary John Tsang said yesterday, as residential prices in the Chinese territory have surged to record highs. "Hong Kong's housing sector is unusually strong because of loose monetary policy in advanced markets such as Europe and the United States, ample liquidity, super-low interest rates and...
Mainboard-listed CapitaLand has sold its entire 20 per cent interest in the Macao Studio City project for a cash consideration of HK$658.7 million (S$104.5 million). CapitaLand's stake in the casino project is through its one-third ownership of East Asia Satellite Television. It is selling its stake to its joint venture partner, eSun Holdings, which owns the other two-thirds of East Asia Satellite...
Hong Kong has lowered the loan-to-value (LTV) ratio for home mortgages and will release enough land to build 6,000 residential units in the July-September quarter, more than double the supply in the previous three months, as it steps up measures to cool the red-hot property market. Apartments valued at between HK$10 million and HK$12 million (S$1.6 million to S$1.9 million) would have their LTV ratios...
The property arm of Keppel Group in China has secured a 7.2-hectare site in Shanghai's Jiading District for S$241 million to develop around 1,000 high-rise apartments. The acquisition of the site at Nanxiang Town marks Keppel Land China's fifth residential development in Shanghai, a news release said. The deal was completed through two subsidiaries of the Keppel Land Group, namely Merryfield Investment...