Increasing presence in emerging markets makes CapitaLand a good bet for investors. With Singapore’s property market cooling, analysts are looking at developers which have bought substantially into other promising places. To many, CapitaLand could be a good bet for investors. Analysts say the company’s diversified business portfolio and increasing presence in emerging markets, including Vietnam and...
THE property agent of a condominium locked in an en bloc tussle had colluded with the potential buyer, and did not seriously negotiate for a higher price because of a “commission agreement”. So asserted a minority owner of embattled Horizon Towers, and in so doing, Ms Jasmine Tan - who represented herself in the High Court yesterday - applied for the minutes of meetings and correspondences between the...
US regulators should be more aggressive in dealing with the sub-prime crisis, according to Senator Paul Sarbanes, who is in Singapore for a business talk. Mr Sarbanes, who co-authored the Sarbanes-Oxley Act - hailed as the most far-reaching reforms of American business practices - said some mortgage lending practices should have never been allowed. US investment bank Bear Stearns is the latest...
Mainboard-listed Roxy-Pacific has nearly quadrupled its full-year net profit to S$19.3 million in its maiden results since going public. The specialty property and hospitality group is crediting this to the strong property market and robust tourism industry. Revenue more than doubled to about S$103 million. Looking ahead, Roxy-Pacific said it is optimistic about the Singapore property market and intends...
The Housing and Development Board (HDB) has received an overwhelming response to its second batch of Build-to-Order flats in Yishun. Jade Spring was launched on Tuesday, and as of 5pm on Wednesday, HDB received 771 applications for the 576 flats available. 715 of the applications were for the four-room units. The prices of the two, three and four-room units range from S$77,000 to $253,000. Interested...
Billion Rise - a company believed to be linked to Hong Kong property giant Cheung Kong Holdings - has put in the top bid of S$110.4 million for a residential site at West Coast Crescent. This works out to S$305 per square foot per plot ratio for the 99-year leasehold parcel. Analysts expect a break-even price of between S$680 and S$720 per square foot for a new condominium on the site. The units are...
Even as some market observers are saying that the Singapore property market is weakening, Macquarie Global Property Advisers (MGPA) is still optimistic and sees value in the office, retail and residential sectors. “There are still some good bargains around, and in the next 6 to 9 months, there might be better pricing value,” said MGPA’s chief executive (Asia investments) Simon Treacy at the signing...
THE new laws regulating en bloc sales that kicked in last October may mean controversial collective sale tangles are unlikely to arise again. But for Gillman Heights, where the sale process started before the rules were tweaked, the 22 minority owners’ attempt to overturn the privatised ex-HUDC estate’s sale now hinges on how the High Court rules the property’s age should be calculated. The last...
Macquarie Global Property Advisors (MGPA) says it expects office rentals in Singapore to remain hot, jumping by 10 to 25 percent this year. The Australian private equity real estate fund management firm is converting two plots of land at Marina View into twin office blocks. The two towers, expected to be completed in 2012, will also house a luxury five-star hotel. These land parcels drew top dollars from...
The second batch of flats under this year's Build-To-Order project was launched on Tuesday. Called Jade Spring, HDB is offering 576 two-, three- and four-room flats. The site is located at the junction of Yishun Ring Road and Yishun Avenue 11. It is also near the town centre where the MRT station, Northpoint Shopping Centre and the future Khoo Teck Puat Hospital are located. The prices of the units...