Despite the economic slowdown, some 1,000 people checked out the showflat in Bishan under the Housing and Development Board's (HDB) Design, Build and Sell Scheme on Friday. Called Natura Loft, it is the fourth project under the scheme. A five-room unit costs up to S$739,000. It is priced at an average of S$525 per square foot, which makes it one of the most expensive units under the scheme so far. The...
The Singapore government has slashed the number of sites it is offering for sale in anticipation of falling demand due to the poor global economy. The Ministry of National Development (MND) has said no sites will be released under the confirmed list in the first half of 2009. And it has cut down the remaining sites for sale for the rest of 2008 from seven to just one. Five sites were moved to a reserve...
The National Development Ministry has announced changes to the Government Land Sales (GLS) programme for the rest of 2008. It said that while Singapore's fundamentals remain sound, the global economic uncertainties have affected the outlook for the country's economy and property market. There were three main changes. Firstly, most of the sites under the confirmed list are being transferred to the...
One of Singapore's oldest hotels has finally called it a day after 55 years. The New 7th Storey Hotel at Rochor Road is making way for the new Bugis MRT station. The new Bugis station is one of the six that make up the 4.3-kilometre Downtown Line One, which is scheduled to open in 2013. Authorities said demolition of the hotel is unavoidable due to engineering constraints. The owners spent some...
Southeast Asia's largest property developer CapitaLand posted a 26 per cent drop in third quarter net earnings over a year ago. Net profit came in at S$419.4 million due to lower sales. Revenue in the three months ended September also fell by some 33 per cent to S$597 million. For the year-to-date, net profit hit S$1.18 billion, down from S$2.08 billion in the same period last year. CapitaLand said it...
Don't bet on it! That's the advice from quite a few observers as the people behind Singapore's two planned integrated resorts insist that they will open on time. Marina Bay Sands is scheduled to open at the end of next year. Sentosa Resorts World is set to open in the first quarter of 2010. Upset contractors, who say the two operators are trying to renegotiate the prices verbally agreed upon for their...
Suntec REIT's distribution per unit (DPU) for the fourth quarter rose 34.6 per cent year-on-year to 2.854 cents between July and September. Its distribution income of S$43.9 million for the same period was 44.5 per cent higher on-year. The gains were led by higher rentals from its Suntec City and Park Mall properties. Net property income was S$45.6 million, up 24.7 per cent from S$36.6 million, while...
8 Cluster Strata Bungalow units of 2/3 Storey with Attic/Basement (basement carpark for 2 cars per unit) Good sized common swimming pool ALL units with Private Jacuzzi Types: 5+1 Bedrooms, 6+study+1 Bedrooms (5565sqft - 8676sqft) Location: Near Vivo City, Sentosa Integrated Resort, St James Power House, Reputable Schools Tenure: Freehold Contact us at [email protected] with the following for more...
There may be many good buys available at the height of the fear cycle AS A novelist, Charles Dickens’ works appeal to readers of all generations because he understood the psyche of the human race. He realised that we are people of extremes. When things are bad, we often see them as worse than bad. Conversely, when things are good, we are inclined to see them as better than good. During current times,...
IT LOOKS like being a business for all seasons. The global economic and financial turmoil has yet to have a major impact on Frasers Hospitality, the serviced apartments arm of Frasers Centrepoint, itself the property division of mainboard listed Fraser & Neave. The firm is certainly playing in the big league; its newest property in China - Fraser Suites Top Glory in Pudong - was formally opened...