Indonesia's buoyant economy has prompted Singapore's Frasers Hospitality to make its first major foray into Jakarta's serviced residence market. The company recently opened its first property in the capital and plans to have three more in the next three years. Frasers Residence Sudirman added 108 units to the existing 4,500 serviced residences already in Jakarta. Frasers is only the second Singapore...
Overseas Property
While the West End has been the traditional haunt of luxury-residential developers in London, soaring property prices have pushed companies such as Singapore-based KOP Properties to look east for more lucrative opportunities. New development has been creeping along the Thames, towards the City, with large-scale residential and mixed-use projects like the Shard and NEO Bankside, bringing high-end space to...
The Hong Kong residential property market is on the rise with housing sites fetching high prices in recent land auctions and individual residential developments registering record high transactions, Colliers International Hong Kong (CIH) has reported. But a slowdown in residential sales activity over the past quarter revealed a growing uncertainty in the market. Ricky Poon, CIH’s executive director of...
Hong Kong-listed developer Sun Hung Kai Properties bought a rare luxury residential site for HK$4.49 billion (S$708 million) in a hotly contested government land auction on Thursday. The price was at the upper end of market expectations, suggesting the impact of the government's property tightening measures remains limited due to shortage in the supply of prime land. The winning bid at the second public...
Malaysia is set to become the next possible destination for investors from Singapore, according to a government official from the middle-income economy while citing actions taken to strengthen the business environment. “With housing prices in Singapore escalating, Singapore-based investors are looking for neighbouring investments that offer strong alternatives with less entry barriers,” said Chris...
CapitaLand's wholly-owned subsidiary, The Ascott, has acquired prime properties in Paris, France for 65 million euros or about S$118.4 million. It has acquired 100 per cent shareholding in SNC Costes K, which owns the prime Hotel K, and an adjacent vacant residential property in Paris. After the acquisition is completed, Ascott will combine and transform the freehold properties into a premium serviced...
CapitaValue Homes, a wholly-owned subsidiary of CapitaLand Group, has signed a joint venture agreement with Vietnamese property developers Khang Dien Sai Gon Real Estate to build 975 value homes on a 29,000 square metre site in Ho Chi Minh City, Vietnam. The total project cost is estimated to be US$70 million or S$88 million and will developed by a joint venture company set up by both CapitaValue Homes...
Hong Kong home sales fell to the lowest volume in more than two years last month as government curbs and rising mortgage rates sapped demand after a price surge since 2009. The number of units that changed hands last month declined 37.6 per cent from a year earlier to 7,635, according to The Land Registry. That is the lowest since March 2009, according to data compiled by Bloomberg. The value of...
CapitaRetail China Trust (CRCT) is acquiring New Minzhong Leyuan Mall - a mall in Wuhan's shopping and entertainment belt - for RMB 395 million (S$76 million) from The Ascott Holdings. Both CRCT and The Ascott Holdings are units of property developer CapitaLand. The mall has a net property income (NPI) yield of 8.1 per cent compared to the NPI of 7 per cent for CRCT's entire portfolio. CRCT's entire...
Property group Wing Tai Holdings said its subsidiary Wing Tai China Investment has signed a joint venture agreement to develop a residential project in Guangzhou Knowledge City. The agreement is with Singbridge Guangzhou, a subsidiary of Singbridge International Singapore. Wing Tai will hold a 40 percent stake in the project, which will be developed in phases over five years on a 10-hectare site. With a...