More first-time owners are turning to the resale market to meet their housing needs, said the Senior Minister of State for National Development Grace Fu. Replying to a question from MP for Sembawang GRC Lee Wee Kiak in Parliament on Monday, Ms Fu said that in the second quarter of this year, there were 1,470 cases of first-timer flat buyers buying resale flats using the CPF Housing Grant. This is a 75...
Strategically located along Bukit Timah Road, Madison Residences is a short distance to Orchard Road and is near premier schools such as Singapore Chinese Girls’ School and Anglo- Chinese School (Barker Road). The 18-storey condominium development will comprise 56 exclusive units. It will have 48 units of 3- and 4-bedroom apartments, as well as six junior penthouses and two luxurious penthouses. Unit...
The Mandarin Gallery at The Meritus Mandarin Hotel is getting a S$200 million makeover. The upscale shopping mall will not be ready for another year, but people passing by along Orchard Road can get a preview of the shops and frontage, thanks to a specially-designed 3D-effect hoarding. This is the first such hoarding in Singapore. It was designed and made in Paris before being flown here. It stretches...
Sales of new private residential homes slipped 64 per cent to 320 units in August, as compared to over 890 units sold in July. Market watchers say this is the weakest transaction volume since April 2008. At the peak of the property boom in August 2007, over 1,700 units of private homes were sold, and the 320 units sold in August 2008 was 81 per cent lower year-on-year. However, the low take-up was not...
A revamped Cuppage Terrace will feature a charming mix of haunts IN SINGAPORE, traces of the past tend to be replaced by developments for the future. But one commercial project is about to buck the trend. Cuppage Terrace will reopen at the end of the month, when Formula One comes to town, with several old haunts such as the Northern Indian restaurant, Maharajah, and the Chinese food and bar outlet, Cross...
Sales of private homes by Singapore developers dropped by 56 per cent for the year ended June 30, with only about 7,200 units being sold. However, Real Estate Developers' Association of Singapore (REDAS) believes private home prices will not drop sharply this year, despite the tight credit market and economic slowdown. President of REDAS, Simon Cheong, said: "If it drops, it will not be much more. This...
The offer for Japan Land Limited at 60 cents per share by International Capital Investment has lapsed. In an announcement released Friday, Japan Land said that valid acceptances of the International Capital offer totalled 0.32 per cent of its total share capital. International Capital is a vehicle of Indonesian tycoon Oei Hong Leong, who made the offer at the end of July. Independent financial advisors...
Singapore's economy will not boom over the next few years due to the global economic slowdown, but it will not go bust either. That's according to Swiss economist Marc Faber, who's also known as Dr. Doom after he accurately predicted earlier stock market crashes and other financial disasters. He was speaking at OCBC's Global Treasury Regional Economic and Business Forum on Friday. Marc Faber thinks that...
The Singapore River, once a lifeline to early immigrants, will spring to life for two weekends from September 19 to 28 for the Singapore River Festival. Among the many events leading up to the Formula One night race in late September is a dance drama spectacle "Legenda Singapura". The half hour-long performance, which will also include a float parade, tracks the journey of Sang Nila Utama and Singapore's...
Mega projects like the Marina Bay Integrated Resort and the upcoming Formula One race are expected to present a substantial boost to the Singapore economy. Some analysts expect the approximately S$120 billion worth of projects in the pipeline to support the economy until 2015. But others warn this may not be enough to offset external slowing, especially if the global economy worsens...