Property developer CapitaLand believes the China market presents the best prospects in the current challenging economic climate. Speaking to shareholders at the company's annual general meeting on Thursday, CEO Liew Mun Leong said real estate is all about economic growth. And CapitaLand is hopeful that Beijing's US$585 billion stimulus package will help spur consumption there. CapitaLand is also on track...
Overseas Property
Keppel Corp plans to build an international school in Tianjin, China. It is teaming up with education groups EtonHouse International and Chiway Holding to develop the first international school in the Sino-Singapore Tianjin Eco-City. The three partners will also jointly develop residential apartments on an adjoining site 10-hectare site. Together they plan to invest as much as 1 billion yuan (S$220...
Two Singapore-listed developers are offering a buyback scheme for a new condominium project in Bangkok. Under the deal, buyers who are not satisfied with their units at The Surawong can sell them back to the developers at 95 per cent of the purchase price. Developers Tee International and Hup Soon Global are launching the project in Singapore on Friday. The Surawong comprises 52 freehold units, ranging...
PROPERTY appears to be evolving into a currency play with investors hoping to benefit from the rise and fall of exchange rates. Australian Property Group (APG), which took out a full-page advertisement in The Straits Times on Saturday to market a luxury condominium in Australia, say they have already sold 60 units of the 90-unit development. A spokeswoman for APG said that most of the buyers were...
Singapore's property giant CapitaLand is busy looking at investment opportunities in key markets like China, as part of a strategy to weather the current economic downturn. The developer has been successful in developing projects in Shanghai and Beijing, and is now looking into second-tier cities on the Chinese mainland. Last year alone, CapitaLand China more than doubled its earnings to a record US$646...
Singapore Foreign Affairs Minister George Yeo has said the offer by Hong Kong celebrity Jackie Chan to donate some old Chinese houses to Singapore's new university would be a wonderful symbol of the proposed partnership between the upcoming university and a leading Chinese university. The collaboration initiative was agreed to between Chinese Premier Wen Jiabao and Singapore Prime Minister Lee Hsien Loong...
Bargain-hunting now comes with probability that prices could fall further PRIME properties in key cities such as London and New York have long been out of the price reach of most Singaporeans. However, the slide in prices and currencies caused by the global financial crisis has made such markets much more affordable for those who dare. Particularly attractive to potential Singapore investors are the...
HONG Kong prime office rents may fall a further 26 per cent this year as the global financial crisis prompts banks and investment companies to control spending, according to a report by property agency Colliers International. "The prime office market is predicted to experience a further downward adjustment due to the consolidation of the financial markets and the global economic outlook," Colliers...
Property giant CapitaLand is looking to pad its portfolio with good buys amid the current global recession. The company aims to raise S$1.84b in a rights issue, and is eyeing distressed assets in China. China is one of its key markets, accounting for some 45 per cent of CapitaLand's earnings. Liew Mun Leong, CapitaLand Group president and CEO, said: "In China, we are quite well known for taking over...
Serviced apartment operator Ascott Group, a wholly owned subsidiary of CapitaLand, has secured a contract to manage its first Citadines serviced residences in Jakarta. Citadines Jakarta, located in the central business district of Menteng, will have 120 residence units and is scheduled to open in the second half of 2010. The group said there are plans to add another 100 units in the future. Citadines is...