Non-landed prime districtproperties to bear the brunt: DTZ THE fallout from the financial crisis is hitting the private home market hard, with one estimate putting the drop in private home prices at 21.6 per cent this year, a plunge not seen since the 1997 Asian financial crisis. DTZ's dramatic estimate is based on caveats lodged on Urban Redevelopment Authority's (URA) REALIS portal. However, other...
IN APRIL, they learnt how nearby Jurong would be transformed into a "lake district" and Singapore's largest commercial hub outside the city centre. Yesterday, residents of three estates located a stone's throw away - including one that made history by being the first to reject upgrading - found out they would be part of the rejuvenation, too. The 30-year-old public housing neighbourhoods of Teban and...
Private home sales in Singapore have taken a sharp fall in the fourth quarter of this year. According to a report released Monday by property consultant DTZ, only 112 private homes were sold in the primary market in October, and 192 units sold in November. This, compared to the monthly average of 444 units sold in the first nine months of the year. The October sales volume is the lowest since the...
The Singapore government is proceeding to put in the infrastructure to facilitate the growth of Jurong Lake District. This follows the unveiling of the area's development blueprint in April this year. Giving an update on Monday, both the Urban Redevelopment Authority (URA) and JTC said the measures include constructing a new spinal road, expanding the Jurong East MRT station and redeveloping the bus...
Singapore's Trade and Industry Ministry says it will release the advance economic growth estimates for the country's fourth quarter and the whole of 2008 on January 2. The announcements will be made at 8 am that day. The Singapore government has brought forward its annual budget sitting, which usually takes place in February, to January 22 next year. This is to address measures needed to tackle the...
A PILOT project could see more privately-built and run markets and food centres in the heartlands, with Sengkang residents being the first to benefit. The latter can look forward to a new market and food centre come 2010. The Housing and Development Board (HDB) has launched a tender for a market and food centre development at Sengkang Square/Sengkang East Road. :This will be a standalone,...
Property developer CapitaLand has appointed Peter Seah as its new deputy chairman from January 2009. Mr Seah has been a non-executive director with CapitaLand since 2001. He is also appointed to chair the company board's finance and budget committee. Mr Seah takes over from the incumbent Hsuan Owyang, who has been with the company since its inception, following the merger of Pidemco Land and DBS Land....
WE REFER to the letters "Just leave me alone!" (Dec 16) by Lee Siew Hua and "A loophole, a headache" (Dec 19) by Yeo Han Tiong. We would like to clarify that the legislation already allows the subsidiary proprietors of a strata-titled development to decide on the tenure of an en bloc sale committee. A sale committee may be dissolved by way of ordinary resolution at a general meeting of the management...
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...
All builders in Singapore must apply for builder's licence by June 16 next year to carry out building works here. This requirement under the Building Control Act came into effect on December 16. The Building and Construction Authority (BCA) is giving builders a grace period of six months to submit their requests to facilitate the application process for two types of licences. General Builder licences are...