Despite having to navigate a challenging environment with the introduction of various property market cooling measures and the Total Debt Servicing Ratio (TDSR) framework, City Developments (CDL) has continued to enjoy robust sales at its new and existing residential projects. In its third-quarter financial report released yesterday, CDL said more than 83 per cent of the 420 units in its Jewel@Buangkok...
Developer
Real-estate developer Overseas Union Enterprise is considering setting up a commercial real estate investment trust to be listed on the main board of the Singapore Exchange (SGX), the company said yesterday. The initial portfolio of the proposed REIT is expected to include OUE Bayfront, an 18-storey office building at Collyer Quay, as well as commercial properties owned by Lippo China Resources, the...
Singapore-listed developer Ho Bee Investment says claims by home owners against alleged defects at The Coast at Sentosa Cove will be "vigorously defended". The Coast's Management Corporation Strata Title (MCST) is taking legal action against the developer for alleged defects including termite-infested pool decking and flooded staircases at the high-end condominium. The Coast was developed by Ho Bee...
Angered by what they allege to be "defects" on their property - which include termite-infested pool decking, flooded staircases in common areas and incorrectly-installed electrical fittings - 108 owners of an upscale condominium on Sentosa Cove have taken property developer Ho Bee Investment and three contractors to court. Ho Bee has denied some of the claims, said its Executive Director Desmond Woon....
Hongkong Land Holdings, which owns a stake in the biggest developer of Marina Bay Financial Centre (MBFC), will seek more commercial plots in Singapore, as tenants seek to upgrade to new buildings. Hongkong Land, as part of a venture with Cheung Kong Holdings and Keppel Land, is eyeing land purchases in Singapore’s prime office areas when the Government puts them up for sale, the company’s Executive...
Singapore-listed property development and investment firm Heeton Holdings is seeking to further regionalise its business over the next three years. The company’s objectives include diversifying its earnings from beyond Singapore to tap opportunities in emerging economies amid a challenging property market in the city-state. Onze@Tanjong Pagar is Heeton Holdings' latest project on the market. The...
Shares of property developer SC Global that are freely traded on the Singapore Exchange (SGX) have dropped to 9.64 per cent of the firm's issued shares. This has triggered a voluntary unconditional cash offer by its majority shareholder, SC Global chairman Simon Cheong. Based on Singapore law, the majority shareholder can force the delisting of a firm once the public float falls below 10 per cent. Mr...
Developer CapitaLand said on Monday that Mr Wong Heang Fine has assumed the chief executive officer position at CapitaLand Residential Singapore. Mr Wong's appointment follows the departure of Ms Patricia Chia, who is leaving the company to spend time with her family. In a statement, CapitaLand said Mr Wong will concurrently continue in his present role of developing CapitaLand's business in the Gulf...
Boosted by sale of stake in One Raffles Quay, the firm posts a seven-fold surge in Q4 profits to $572 million Keppel Land kicked off the current quarterly earnings for the property sector on a positive note with a strong set of results, but analysts said the sharp gains may not be repeated in the current year as businesses could face weaker business conditions. The seven-fold surge in net profit to $572...