Just buy homes, sell them and get rich. That was the mantra of the 1990s before the music died. As property launches again see brisk sales and overnight queues make a comeback, some wonder if those days are back. So far, these voices of caution are merely a murmur. Analysts can point to the strong economic growth underpinning the recent interest in property as well as numbers that show that 2006 is not...
Property Investment
Ascendas REIT will build a distribution facility at Changi LogisPark for some $32.5m.The facility is expected to be completed by the start of 2008. A-REIT's existing customer Zuellig Pharma, a marketing and distribution company for pharmaceutical products, will be the anchor tenant. Zuellig has committed to leasing about 80 percent of the total lettable area for 10 years. In a statement, A-REIT said it...
There was a 43 percent jump in transactions for good class bungalows (GCBs) in the three months to September from a year ago.This brought the total transacted value for this class of the property market in the third quarter to $281 million. According to Knight Frank, the total transacted value of GCBs for the first 9 months of the year exceeded the $733 million recorded for the whole of last year. Prices...
Soaring prices of high end luxury apartments have sent third quarter profits of City Developments soaring.The property developer says its earnings for the three months to September shot up by over 250 percent to nearly S$128m. Strong contributions from hotel operations and the disposal of hotels to CDL Hospitality Trusts more than doubled the bottomline for the nine months to S$214m. On its prospects,...
A consortium led by Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud and Microsoft chairman Bill Gates bid to buy Canada's Four Seasons luxury hotels for US$3.7 billion, the company said on Monday. The offer of US$82 per share to take the company private is 28.4 percent higher than Four Seasons' closing price in New York on Friday, and about 33.1 percent higher than its average price over the past six...
Rental performance in Asian cities over the next five years is set to outdo that of the European and United States markets, and Singapore is among those expected to have double-digit growth, says DTZ Research in a recently released report. Individually, cities such as Bangkok, Shanghai and Beijing, which have outperformed the market significantly in the last five years, are expecting slower growth,...
Sentosa Cove's decision to announce the minimum reserve price for the land parcels to potential buyers and the media is a smart way of separating the haves from the have-nots and will also help to push up the price, say experts. The six highly-sought-after sea-front-bungalow land parcels will be up for grabs from this weekend. The minimum reserve has been set at $890 psf, and interest bidders need to...
The Good Class Bungalow (GCB) market has fared well this year, with 84 units sold during the first three quarters. With this in mind, Colliers International has put up for sale by tender a freehold GCB in District 10. "As the supply of brand new GCBs remain tight, we expect to receive favourable response from discerning Singapore buyers and qualified permanent residents, particularly those who...
Orchard Turn looks set to be more than just a mega-mall and high-end residential complex along Singapore's prime shopping street. The developer is promising a striking landmark that will draw in the crowds. More details about the development were unveiled on Tuesday, including plans to launch 177 luxury residences in the first half of next year. It is the first major retail development on Orchard Road in...
Sentosa Cove is launching six seafront bungalow land parcels for sale this Saturday.They are part of its gated Southern Residential Precinct.The sites range from about 750 square metres to over 1,700 square metres. Sentosa Cove has set the minimum reserve price at $890 per square foot. Earlier this month, it had sold six seafront bungalow parcels for between $942 and $1,130 psf. Sentosa Cove has also...