New rules for BTO applications have helped genuine public housing buyers: Mah THE private market may have quietened, but the housing board resale market remains “quite active”, said Minister for National Development Mah Bow Tan. :”Transactions are still strong - not as strong as six months ago, but still relatively strong,” Mr Mah said, on the sidelines of a community event...

There is no slowdown in the public housing market, but National Development Minister Mah Bow Tan has said the number of transactions may not be as high as six months ago, as the market is now more balanced with an adequate supply of new flats being offered by the Housing and Development Board. He was speaking to the media at the sidelines of a constituency event on Sunday. Mr Mah said, "The economy is...

Singapore's first airport hotel has opened its doors to guests, nearly 30 years after Changi Airport began operations. Although the 320-room Crowne Plaza Changi Airport has just opened for two weeks and not all the rooms are ready, it is already meeting its occupancy target of 75 percent for the full year. Room rates at the hotel start from about US$200 – just below the prices at the premium Orchard...

Surging US home foreclosures rose to another record in May, according to a survey Friday which showed home foreclosure actions hit a fresh all-time high of 261,255. A building up for auction in Baltimore The survey by research firm RealtyTrac said the percentage of foreclosure actions -- including default, auction sale notices and bank repossessions -- rose seven percent from the prior month and spiked...

Sentiments in the Singapore residential property market continued to weaken in the first quarter on the back of a possible recession in the United States. Private home sales dropped by 40 percent in the first quarter of this year compared with the last quarter of 2007, according to a report by DTZ Research. Transactions of private condominium units, based on caveats lodged, fell 41 percent to 2,500,...

JTC Corporation on Wednesday launched a tender for a mega development site at Changi Business Park, and the 4.7-hectare site is likely to see bids as high as S$600 million. The winning bidder will have to build an integrated development comprising a business park, retail activities and a hotel. Changi Business Park has been a hub for businesses that need to stay close to the airport or away from the city...

Singapore is fast rising in the ranks of becoming one of the most expensive cities in Asia for expatriates to live in. The latest Cost of Living survey by consultancy firm ECA International shows that Singapore has leapt 17 places in ranking this year. The city-state is now ranked 13, trailing behind cities such as Beijing, Taipei and Shanghai. Higher food and fuel prices are among the reasons for the...

Four companies were recognised for their eco-friendly practices at the second Singapore Green Summit on Wednesday. National Development Minister Mah Bow Tan, speaking at the summit, urged companies to put in place more energy-efficient practices. The Grand Hyatt is one of the award winners. The 37-year-old hotel undertook a range of green initiatives - recycling water for its laundry service, installing...

Police have arrested a 46-year-old man for cheating 11 tenants of rental deposits over the last two months. The suspect, who is unemployed, had apparently put up a three-room flat at Commonwealth Drive for rent with unsuspecting housing agents. He would disarm potential tenants by handing over copies of his identity card and flat conservancy booklet, and a bunch of keys. He would then disappear after...

Sino Construction has raised nearly S$60 million from its initial public offering (IPO). The company said the IPO has been fully taken up, despite the current weak market sentiment. Guoco Group was among the major investors. Sino Construction had offered about 153 million shares at 39 Singapore cents each. Of these, more than 6 million shares were set aside for the public. Sino Construction plans to use...