CapitaLand said yesterday it had released 100 units for sale at The Wharf Residence and sold 85 units. The average price is between $1,300 to $1,600 psf. This brings the total number of units sold to-date at the development to 110. Buyers will also enjoy stamp duty absorption and an interest absorption scheme. The Wharf Residence is a 999-year leasehold condominium located at Tong Watt Road, off Mohamed...
Mainboard-listed property developer and investment group Sing Holdings said it will launch its latest residential development, BelleRive, at 9 Keng Chin Road today. The freehold development is located in District 10, off Bukit Timah Road between Balmoral Road and Robin Road. The 15-storey apartment tower with 51 units will showcase a clean and modern architectural design. Its two and three-bedroom units...
AMID growing talk of economic green shoots, local developers of high-end private homes rolled out 339 units last month - nearly five times the number in March, according to statistics released on Friday by the Urban Redevelopment Authority. And they were not disappointed, as demand kept up with supply that month. Some 332 private homes in the prime Core Central Region were sold last month, marking the...
Private home sales in Singapore dipped slightly in April, but remained above the 1,000-unit mark for the third straight month. Latest figures from the Urban Redevelopment Authority (URA) showed that 1,207 units changed hands, about one per cent shy of the number of sales transactions in March (1,220 units). Demand for new private residential properties picked up recently because of lower home prices and...
Hotels and resorts developer Banyan Tree Holdings has posted a first quarter net profit of S$5.2 million, down 66 per cent on-year. Revenue also fell by 33 per cent to S$88.2 million in the three months ended March 31. The company attributed the decline mainly to lower performances from its hotel investment, property sales and hotel residences segments. Banyan Tree said its performance in the next two...
PCOMING supply and concerns about payment defaults by customers on the deferred payment scheme (DPS) are some reasons the luxury residential segment is not out of the woods yet, according to UOB Kay Hian analyst Vikram Pandey. In a research report dated May 12, he said 2,665 units would hit the high-end market this year, followed by 3,182 next year and a whopping 5,245 units in 2011, based on official...
Property developer Soilbuild has tripled its net profit for the first quarter, seeing earnings rise to S$19.5 million. Revenue for the three months to March doubled to S$64.7 million. The higher revenue contributions came mainly from the firm's four residential projects - Montebleu, The Centrio and Espa - which are fully sold, and Leonie Parc View. Its Tuas Lot business space factories also contributed...
United Engineers reported a 593 per cent improvement in net profit surge to S$8.5 million in the first quarter of this year. Revenue for the company also grew 11 per cent to S$148.9 million. The company said this is mainly due to progressive recognition of revenue from the sales of its residential projects, The Rochester in one-north and Park Central @ AMK in Ang Mo Kio. United Engineers said it has an...
Construction firm Lum Chang has posted a third-quarter net profit of S$3.7 million, an increase of two per cent on-year. In the same period, its revenue grew by three per cent to S$51.6 million. The firm said this was due to revenue recognition from four construction projects, which amounted to S$42.3 million. The group's net profit for the first nine months dropped by 23 per cent to S$4.7...
Singapore ranks among the top three places in the world in terms of being an attractive financial centre for "mobile wealthy" individuals, including doctors, lawyers and entrepreneurs. Media reports quoting a survey by international wealth management consultancy Scorpio Partnership said Singapore was beaten to the top spot by Switzerland, with London coming in second. The reports said Switzerland came...