United Engineers (UE) on Friday morning said it has lost its free float and will be delisted after the close of Chinese developer Yanlord Land Group's mandatory conditional cash offer. As at 5pm on Thursday, Yanlord owned, controlled or has agreed to acquire about 90.27 per cent of UE's ordinary shares. That means that less than 10 per cent of UE shares are now held by the public. The...
The government has once again trimmed industrial land supply for the first half of 2020 under its Industrial Government Land Sales (IGLS) programme. Industrial land supply fell to 7.11 hectares (ha) in total site area. The number of sites in the confirmed and reserve lists were also reduced. The Ministry of Trade and Industry (MTI) announced on Friday that there are three sites in the confirmed list...
A property agent has been fined S$27,000 for altering lease agreements to collect additional commissions, the Council for Estate Agencies (CEA) said in a statement on Monday (Dec 23). George Peh Meng Woon of KF Property Network has also had his CEA registration suspended for 10 months. The 45-year-old committed the breaches several years ago, when he was a property agent with DTZ Property...
Singapore's property market has been nothing but resilient in 2019. In particular, the residential primary sales market stood out as demand strengthened in the second half of the year even as trade tensions between the United States and China escalated, and the 2019 economic outlook for Singapore dimmed. Developers sold 29 per cent more new homes in the five months between July and November 2019,...
Singapore's total real estate investment volume fell 31.8 per cent to S$22.83 billion as at Dec 13, the lowest volume since 2016, according to CBRE on Thursday. This was due to a slower collective sales market this year compared with a year ago. The previous year saw a few large collective sale sites being transacted, along with the award of two Government Land Sale (GLS) sites worth over a billion...
Singapore is unlikely to ease property cooling measures as it heads into a high-stakes election that could take place in the first half of next year. Although several developers, including second-largest City Developments, have called upon the government to loosen curbs to help fix an apartment glut, such a move could cost the ruling People's Action Party votes. Relaxing property curbs risks sending...
Prices of private homes in Singapore are expected to show modest growth over the next two years, riding on macro-prudential measures and stable mortgage performance, anchored by strong household finances. This is according to the latest findings from Fitch Ratings' Global Housing and Mortgage Outlook report. Overall, the rating agency expects nominal home price growth to remain at about 2 per cent in...
Sales of new private homes rose 23 per cent in November from the previous month, boosted by demand for projects launched during the last two years. Developers sold 1,147 homes, excluding executive condominiums, in November, compared with 931 homes in October, according to data compiled by the Urban Redevelopment Authority (URA). Year-on-year, however, sales were 4.5 per cent lower than the 1,201...
More flats will be built next year to meet greater demand for public housing, National Development Minister Lawrence Wong said on Monday (Dec 16). Between 16,000 and 17,000 Build-to-Order (BTO) flats will be launched next year, up from 14,600 flats this year, he said. In a post on his ministry's blog, Mr Wong said that the Government was "doubling down on our efforts to build affordable flats and...
Colliers International has extended the tender submission date for the en bloc sale of The Arcade in Raffles Place by two months till March 5, 2020, at 3pm. This is because developers had asked for more time to assess the site, Colliers said in a press statement on Monday. The original deadline was Jan 8, 2020. Meanwhile, Colliers has also increased the land rate for the site after receiving the...