CapitaLand's Australian unit, Australand, said on Thursday that it has established a 1.3 billion Australian dollar unsecured debt facility. This replaces existing secured facilities totalling A$1.15 billion. The new facility comprises three tranches: A$325 million expiring in June 2012, A$650 million expiring in June 2013 and A$325 million expiring in June 2014. Australand said the new facility reduces...
Overseas Property
For the first time in a year, Liu Long, 26, thinks he may consider purchasing an apartment in Beijing, despite the fact that the average price is still rising. Liu seemed a little tired when he stepped into Kylin Zone, a property project near Beijing's North Fourth Ring Road. "This is the fifth real estate project I've seen this week," Liu said. "To be honest, in the past year, every time I read...
DURING the last decade, China's housing bubble has been a serious concern. The average house price in big cities like Shanghai and Beijing is now over 25,000 yuan (S$5,100) per square metre (by comparison, the resale price of HDB flats is around 15,000 yuan per square metre). Ten years ago, it was only around 5,000 yuan. In what was an unexpected but nationwide trend, there was a quick recovery of the...
AS soon as Jamie Dimon, CEO and chairman of JPMorgan Chase, sat next to me at Beijing's Grand Hyatt Hotel after delivering his keynote address at an investment conference, he popped an abrupt question to me: 'So, are you worried about the Chinese government's recent measures to manage the property bubble?' Somewhat to his surprise, I replied: 'I would be worried if the government doesn't do anything about...
Malaysia's southern economic region Iskandar expects strong investment flow from neighbouring Singapore, despite an expected economic slowdown in the second half of the year. In an interview with Channel NewsAsia, the CEO of Iskandar Investment, Arlida Ariff, said she hopes to ride on improved bilateral ties to woo Singapore investments. Spanning over 2,200 square kilometres, the Iskandar economic region...
The Larvotto development rises above boats moored in the Ap Lei Chau district of Hong Kong. Under a new policy, buyers will only be able to purchase one flat and will not be permitted to resell the unit before its completion date. The guidelines issued by the Real Estate Developers Association follow a police probe into the controversial sale of luxury flats that fell through months after its developer...
Analysts said more Singaporean investors are increasingly moving to conservative asset classes. Among them, properties Down Under. Westpac Private Bank has seen 18 per cent of its Australia and New Zealand multi-currency home loans coming from Singapore in the past nine months, up by six percentage points over the same period last year. They attribute the increase to poorer risk appetite after the recent...
CapitaLand's wholly-owned serviced residence business unit, The Ascott, has secured contracts to manage two more serviced residence properties in Xi'an and Shenzhen, China. This follows Ascott's recent expansion into Chengdu with the opening of Somerset Riverview, Chengdu in April. The latest additions - Somerset Gaoxin, Xi'an and Somerset Grandview, Shenzhen - are scheduled to open in 2012 and 2013...
Investors here are increasingly moving to conservative asset classes, such as overseas properties in Australia, because of poorer risk appetite after the recent global financial crisis. According to Westpac Private Bank, it has seen 18 percent of its Australia and New Zealand multi-currency home loans coming from Singapore in the past nine months, up 6 percentage points over the same period last...
Mainboard listed Tsit Wing International says its subsidiary, Tsit Wing Coffee Company, has sold a property to an independent third party for HK$16.9 million (S$3 million) in cash. The property is situated at Kwai Tak Industrial Centre in the New Territories in Hong Kong. Tsit Wing International says the transaction will result in an estimated profit of HK$9.8 million. It also says the consideration for...