Malaysia's residential market continues to see active new launches and previews of high-end condominiums in the established neighbourhoods of Kuala Lumpur City Centre, Jalan Ampang and U Thant, DTZ Research said in a report. Despite the year-end, the market for new launches of prime condominiums remained active, with developers focusing on smaller units. Encouraging take-up rates were noted in the few new...
Overseas Property
The Government of Singapore Investment Corp (GIC) is seeking to sell an office building in Seoul with an estimated value of up to 1.1 trillion won ($1.3 billion), South Korea's Maeil Business Newspaper reported in its Wednesday edition. The GIC bought the Seoul Finance Center for 355 billion won in 2000, breaking ground for Korea property investment as an institutional investor. The 30-storey building...
GuocoLand China, the Chinese property arm of Malaysian tycoon Quek Leng Chan, continues to be bullish on China despite the various curbs imposed by the authorities in their attempts to cool the property market there. In fact, it is so confident that prices will continue to remain high, that it recently bid for a piece of land in Shanghai's Putuo District at a price even above those it obtained when it...
Home prices in China's major cities soared by more than a fifth last year, private research showed yesterday, painting a picture at odds with official data following repeated government efforts to tame the red-hot sector. Prices in Hangzhou rose the most, by 47.1 per cent, followed by 37.9 per cent in Chongqing and 37.1 per cent in Beijing, according to the China Real Estate Index System (CREIS), run by...
Wilmar International said on Wednesday it has won the bidding for six land sites in China's Liaoning province for a total of US$204.4 million in partnership with two Hong Kong firms. The bids were won by a consortium formed by SGX-listed Wilmar with Kerry Properties and Shangri-la Asia. All three firms are linked to Malaysian billionaire Robert Kuok. Wilmar is the the world's largest-listed palm oil...
Asia-Pacific markets led the patchy recovery in home prices in the third quarter with an average increase of 9.9 percent, based on the global house price index by Knight Frank. For the first time since 2008, prices in all six world regions tracked by Knight Frank saw increases in Q3. Asia-Pacific markets topped the list of gainers, while European markets were at the bottom of the list with only a 0.8...
Faber-Rhine Properties, a unit of property giant City Developments (CDL), has acquired the 50 per cent stake owned by its venture partner AIG Marina Investment in Glengary for about S$9 million. Glengary is the developer of "The Sail @ Marina Bay", which was successfully launched in 2004. CDL said that the consideration was arrived at on a willing-buyer willing-seller basis, and it was settled in cash...
Australian real estate may present a good investment opportunity next year as a robust economy and a growing shortage of homes underpin prices that, according to analysts, have room to go up still further. Analysts say that foreigners will be drawn to the market, with Chinese, Singaporean and Malaysian buyers continuing to lead demand. Despite restrictions on foreign buyers of Australian properties, Asian...
CapitaLand said that it is set to develop its second Raffles City integrated development in Shanghai. It is the seventh Raffles City project in China. Raffles City Changning, as the development has been named, will be located in Shanghai's Changning District, near the Hongqiao Transportation Hub, according to the announcement. The integrated development will consist of a Grade A office tower and a...
Keppel Land has secured a 17.2 hectare site within the main city of Nantong, Jiangsu province in China, for S$202 million. The lakefront residential development will be Keppel Land China's first property development in Nantong. Keppel plans to target the high income segment for the development, which will comprise about 1,000 homes. The first phase is expected to be launched in the first half of...