developer news

Property developers given 6 more months of relief for projects disrupted by Covid-19

There will be more temporary relief measures for property developers whose construction schedules have been affected by the Covid-19 crisis. The Government said on Thursday (Oct 8) that developers have six more months to complete residential, commercial and industrial development projects, for instance, and the added measures will take effect immediately. A first round of measures was announced in...

Developers dangle higher commissions to clear less ideal units

Some developers are dangling fatter commissions to incentivise property agents to help clear inventory. A check with property agents suggested that commissions in some cases could rise to 3-4 per cent, or more. Developers may also wheel out incentives or a cash bonus when it comes to units that are harder to sell, such as ground-floor units or units with a less-attractive facing, as agents need to work...

Tuan Sing divests units in Century Warehouse property

Tuan Sing Holdings announced on Monday that it has accepted a tender bid of S$48.5 million for all of its majority-owned Century Warehouse property. The property is an eight-storey freehold-industrial warehouse with a basement car park. It comprises 35 strata units with a total strata area of 56,539 square feet located in Pasir Panjang Road. Tuan Sing’s subsidiary, Asiaview Properties, owns 31 of...

Wheelock unit launches offer for Singapore subsidiary

A unit of Hong Kong-based developer Wheelock and Co said on Thursday (Jul 19) it had launched an offer for all the shares of Singapore-listed subsidiary Wheelock Properties Singapore at S$2.10 each. Star Attraction, a wholly owned indirect subsidiary of Wheelock and Co, said the voluntary unconditional general offer would allow Wheelock Property shareholders to realise their investment entirely in cash...

Latest measures could see developers reduce prices up to 10%

Developers may trim prices of new launches by as much as 10 per cent from their earlier indications in response to the latest round of property cooling measures, with high-end homes likely to see bigger adjustments, analysts say. In downgrading their stock ratings across several developers, some have started pricing in a 5-10 per cent reduction in average selling prices (ASP) in their forecasts, though...

Singapore developer stocks fall after surprise property curbs

Shares of several developers and real estate service groups fell on Friday (July 6), a day after tough property cooling measures were introduced by the authorities. The share price of Oxley Holdings dropped almost 16 per cent to 34 cents, while City Developments’ (CDL) shares closed at S$9.46, down 15.6 per cent. Wing Tai Holdings’ share price fell 6.9 per cent to S$1.89. Propnex and APAC realty...

Ho Bee Land acquires freehold Grade A London property with £650m investment

Ho Bee Land announced on Sunday that it has acquired a freehold 21-storey Grade A office building in London, by purchasing its owner Frasia Properties Sàrl for £650 million (approximately S$1.16 billion). Registered in Luxembourg, Frasia Properties Sàrl owns the property known as Ropemaker Place, a 21-storey Grade A office building comprising approximately 602,000 square feet of commercial...

Developers need to factor in needs of pedestrians, cyclists from July

Developers for commercial buildings and schools will have to submit a Walking and Cycling Plan (WCP) from July 2016, said the Land Transport Authority (LTA) and the Urban Redevelopment Authority (URA) on Tuesday (May 3). The WCP will apply to commercial developments, such as shopping complexes, offices, business parks, as well as schools, they added in a press release. This new requirement is so...

Singapore developers stay sanguine about top China cities

WHILE skyrocketing property prices in top Chinese cities have prompted China to rein in the rage, Singapore developers with substantial exposure to these cities remain unfazed. Many are still bullish about their prospects in China and are looking to raise their exposure further. Yet, they are keeping close tabs on market conditions when it comes to timing residential launches. CapitaLand China CEO...

Developers sanguine about selling out before ABSD deadlines

DESPITE much industry lobbying for an extension of deadlines for developers to meet the conditions for additional buyer's stamp duty (ABSD) remission on residential sites, it appears that many developers are sanguine about the looming deadlines. While tight-lipped about their marketing strategies, developers whom BT spoke to are confident that their projects will sell out before the respective ABSD...

Compare listings

Compare