A GROUP of 13 Singapore companies is banking on their green know-how to snare a share of China's lucrative and rapidly growing green buildings market. The firms are set to attend a key China exhibition to try and tap a green buildings market set to be worth $55 billion by 2012 and $200 billion by 2020. The Sixth International Conference on Intelligent, Green and Energy-Efficient Building & New...
Overseas Property
Frasers Hospitality is expanding its presence in the Middle East. It has opened its Fraser Suites Seef Bahrain in the kingdom's business and entertainment district. The 19-storey property has 91 one or two bedroom suites and three penthouses. Frasers said is the only international-class accommodation with direct access to the city's exclusive Seef Mall. The property in Bahrain is the first of five that...
Singaporean Norsiah Suja'i thought she had found her dream home when she forked out her life savings to buy a double-storey terrace house in Johor Baru in 1998 for more than RM335,000 (S$141,500 now). Instead, the retired teacher and 72 other Singaporeans in Taman Permata are about to lose their property to the developer's bank - after the developer went bust in 2000. The bank won a court order from the...
It will embark on plans to reduce home owners' mortgage principal Bank of America yesterday announced plans to start forgiving mortgage loan principal for troubled homeowners who owe more than 120 per cent of their home's value or are battling ever-expanding 'negative amortisation' loans. According to a summary of the programme obtained by Reuters, Bank of America pledged to offer an 'earned principal...
Hong Kong and Singapore jumped from the bottom five to the top five of an annual list measuring the rise in luxury home prices. This was according to the latest figures from property consultants Knight Frank International for 2009. The firm said that this reflects the attraction of prime residential property, where demand tends to improve as prices dip. Overall, luxury home prices in the Asia Pacific...
There seem to be more suitors for Singapore investors on the back of success with previous overseas industrial projects. Singapore's Ministry of Trade and Industry said the Suzhou-Industrial Park realised a 15 per cent on-year jump in its gross domestic product to S$23 billion as of the end of 2009. Its fiscal revenue also grew to over S$2.2 billion, a 13 per cent jump over 2008. The 15-year-old project...
On Jan 6, a day after the government announced a grand plan to transform Hainan province into a world-class tourism paradise, retiree Zhou Yafen woke up to see crowds 'rushing madly to buy apartments' on the island. 'Property prices shot up like an arrow,' said the 59-year-old, who owns a 125 sq m flat in provincial capital Haikou that she bought in 2005. Its value today has gone up by more than eight...
Hainan: An announcement that the tropical island would be transformed into a top international tourist hotspot prompted investors from across the country - and beyond - to rush in and snap up properties. Shanghai: Land and property prices in the Pudong New Zone area, especially plots near where the new Disney theme park would be sited, shot up to record highs. Beijing: The 2008 Olympic Games benefited...
Mainboard-listed property developer Keppel Land on Friday said it has terminated its Vietnamese joint venture agreements with An Phu Corporation. It said the contracts were terminated because conditions were not fulfilled, without elaborating. Under the agreements signed in 2007, Keppel Land was to have developed condominiums in Ho Chi Minh City with An Phu. Keppel Land said the termination of the...
Property developer CapitaLand said the present property boom in China cannot be labelled as a bubble. It is of the view that current market conditions are driven mainly by physical demand. While it notes there is some degree of speculative demand in the Tier 1 cities, CapitaLand said there is no subprime danger in China, unlike in the US. It added that it is comforting to note that the Chinese government...