Singapore's Housing and Development Board (HDB) released data on Friday that showed prices of resale flats rising by 4.2 per cent in the third quarter, as compared to the previous quarter. This was in line with estimates released earlier this month. Sales volume also went up by about four per cent from 7,760 to 8,110 transactions. HDB said the median Cash-Over-Valuation (COV) amount for all resale...

Prices of private residential properties in Singapore dropped 2.4 per cent in the third quarter of this year from the second quarter, snapping four years of growth. The figure fell short of an initial estimate of a 1.8 per cent decline, on the back of an economic downturn. Costs of high-end properties in prime districts continue to trend down, dipping 2.7 per cent, while prices in mid-tier and mass...

The United Nations (UN) gave Singapore top marks in its latest report on the state of the world's cities, and has said it is keen to deepen its collaboration with Singapore as a knowledge hub. The UN also called on cities to take on pro-growth policies that support the poor and strengthen infrastructure. It said all these can make a difference when it comes to sustainable living. The UN said people's...

After three years of construction, the S$230 million Marina Barrage is ready. It dams up Singapore's river mouth, forming a reservoir - the Marina Reservoir - which has a catchment area that is one-sixth the size of Singapore. Right now, the reservoir contains mainly sea water. But when the monsoon rains come, the sea water will be flushed out through the gates into the sea, making it a freshwater...

The Government of Singapore Investment Corp (GIC) has increased its investment in an Australian property firm. Media reports in Australia say GIC has increased its stake in GPT to between 12 and 18 per cent after pumping in an additional A$250 million to A$300 million. GPT is one of Australia's largest diversified listed property groups with prime retail and office assets across Australia. It also has a...

Keppel Land has turned in a 23.2 per cent drop in earnings for the first nine months of 2008. Net income came in at S$159 million. Revenue for the same period fell by almost 38 per cent on-year to S$645 million. Keppel Land said the global economic crisis has hurt residential sales in China, Vietnam, India and Indonesia in the third quarter of 2008. It also saw lower earnings from its property services...

Frasers Centrepoint Trust's full-year distribution per unit (DPU) rose 11.3 per cent on year for 2008, from 6.55 cents to 7.29 cents. Quarter-on-quarter, its DPU climbed 22.8 per cent to 2.05 cents. The mainboard-listed retail REIT's gross revenue for the year was up 9.2 per cent compared to last year, at S$84.7 million. Frasers said its gross revenue and net property income growth was driven by strong...

CapitaCommercial Trust (CCT) achieved a distributable income of S$43.2m for the third quarter ended September 30. This was 46.1 per cent higher compared to the same period last year. The increase was attributed mainly to the higher gross rental income achieved for its portfolio as well as income contribution from its No.1, George Street property. The trust's third quarter distribution per unit (DPU) also...

CAUGHT in between a sluggish economy and sticky office rents, many business owners are feeling squeezed. Many are trying to cut costs while looking for new opportunities. But Regus Group's country general manager (South-east Asia) William Willems has little doubt that serviced offices - like the ones his firm officially launched last week at One Fullerton - are the answer. Mr Willems told Today: "Now is...

Far East's West Coast Plaza 70 per centleased before launch Never mind the news about consumers tightening their belts or forgoing frills in the face of an economic downturn. As far as developer Far East Organization is concerned, tenants of West Coast Plaza - its latest refurbished suburban retail offering - are all geared up for business for the upcoming festive season. Formerly known as Ginza Plaza,...