Overseas Union Enterprise posted a 13.3 per cent on-year increase in net profit to about S$22.8 million for the second quarter ended June 30, 2012. Revenue for Q2 was up by 33.8 per cent to some S$96.7 million, compared to the previous year. In a stock exchange filing, OUE said the increase in revenue was mainly driven by the hospitality and the property investment divisions. The hospitality division...
business
Real estate agency DTZ is inviting interested parties to participate in an expressions-of-interest exercise for an industrial property located at 745 Lorong 5 Toa Payoh. The four-storey light industry building has a 60-year tenure commencing January 19, 1970. It sits on a land area of 44,906 square feet, and has a gross floor area of 83,342 square feet. This site is zoned "Business 1" at plot ratio 2.5,...
The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Tanah Merah Kechil Road to Fragrance Group Limited and World Class Land Pte Ltd. The companies submitted the highest bid in the tender for the site at S$285.215 million. This also translates to S$676 per square foot per plot ratio (psf ppr). The tender for the residential site was launched on 20 June 2012 and...
Potential home buyers who are visiting showflats can now receive an instant decision on their home loan application on-site under a new service introduced by United Overseas Bank (UOB) on Thursday. UOB said home buyers will be able to find out the status of their loan application as soon as they finish keying in their personal and financial details into UOB's automated approval system, which can be...
An approximately 56 percent stake in the Southbank SOHO block is up for sale by Expression of Interest (EOI) with an asking price of S$63 million or S$1,812 psf, according to marketing agent CBRE. The Southbank mixed development comprises a 40-storey residential block with 197 units and a 20-storey SOHO block with 60 units and 16 retail shops on the first floor. With a combined strata area of 34,740 sq...
Property heavyweight CapitaLand saw its net profit slipped 3.3 per cent on-year in the second quarter to S$385.9 million on the back of higher finance costs and lower fair-value gains. This, even though CapitaLand sold more homes both in Singapore and China during the quarter. Revenue grew 16.5 per cent on-quarter to S$862.4m. The company said it sold 41 units of D'leedon, 125 units of Sky Habitat and 27...
Prices of resale private homes in Singapore were flat month-on-month in June, according to flash estimates of the Singapore Residential Property Index (SRPI) by the National University of Singapore (NUS). The index covering small units of 506 square feet and below - otherwise known as shoebox apartments - fell most sharply, by 1.4 percent. This is in contrast to the 1.9 percent increase recorded in...
Developer Overseas Union Enterprise (OUE) is set to invest in excess of S$140 million on two retail mall projects in the central business district. Among the plans, OUE will be developing a five-storey retail mall at the existing DBS Building at Shenton Way, according to a source close to the matter. Built in 1975, DBS Building at Shenton Way will soon be home to a new shopping mall, spanning some...
About two weeks ago, property analysts at Credit Suisse released their findings of a survey it conducted to obtain a clearer picture of buyer behaviour given the strong sales at private residential project launches this year. It said its sample of 300 households had a profile that matched the Singapore population "quite accurately", with 80 per cent living in public housing and with close to 9 in 10...
Shopping mall developer CapitaMalls Asia has posted S$232 million in net profit for the second quarter of the year, up 40.7 per cent from the same period last year. CapitaMalls Asia attributed the rise in net profit to portfolio gains from its injection of two of its China assets into a private fund, as well as contributions from newly-acquired properties in Japan and China. Group revenue for the three...