The location of several sites in the upcoming government land sales programme could put pressure on some developers, especially those with unsold private residential units or yet-to-be launched projects in the area -- this is according to some property analysts. Market watchers told Channel NewsAsia some developers may have to cut prices to move sales. The private residential market will see a...
developers
Developers will likely moderate their bids for the two executive condominium (EC) sites in Choa Chu Kang Grove that were released for sale yesterday, as recent changes to the rules governing the hybrid private-public housing scheme are expected to hit demand from upgraders. The adjacent sites with identical areas of 177,120 sq feet, released under the Confirmed List of the Government Land Sales...
Property developers may be taking a more “conservative” stance when bidding for land, said analysts after the Urban Redevelopment Authority (URA) closed the tenders for two private residential sites at Upper Serangoon View yesterday. The adjacent land parcels attracted eight bids each, with Kingsford Development, owned by Chinese nationals, coming in top for both sites at S$258.8 million and S$201.6...
Wheelock & Co, a Hong Kong-based real estate developer and parent of the city’s Wharf Holdings and Singapore’s Wheelock Properties, yesterday said its billionaire Chairman Peter Woo, 67, will step down and his son will take over the role. Mr Douglas Woo, who was appointed as Managing Director effective July 1, will start as Chairman on Jan 1, according to a filing to the Hong Kong Stock Exchange. Mr...
Straits Trading, an investor in Singapore’s biggest publicly traded property trust manager, is planning “Blackstone-like” funds as Asia’s appetite for real estate investments increases. Straits Trading last month invested in Singapore-listed ARA Asset Management, the property trust manager partly owned by billionaire Li Ka-shing, and set up a joint venture with ARA’s CEO John Lim to invest in...
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...
The Real Estate Developers' Association of Singapore (REDAS) said it hopes the Singapore government will moderate and calibrate its land sales programme. It said this is to ensure that land supply is injected at an appropriate pace that will contribute to the overall health of the market REDAS President Chia Boon Kuah said: "As long as homes are purchased with sound reasoning, we believe in riding...
While property cooling measures and the total debt-servicing ratio (TDSR) framework have dented demand for private housing, CapitaLand’s sales in Singapore do not seem to have been affected. CapitaLand, the largest-listed developer in South-east Asia, sold over six times more units in the traditionally quiet third quarter compared with a year ago, its earnings report showed yesterday. The company sold...
New York's Museum of Modern Art (MoMa) is about to get the luxury touch, thanks to Singapore-based property developer, Pontiac Land. The company, controlled by the four Kwee brothers - whose net worth is estimated by Forbes at around US$5.3 billion - plans to invest in a 72-story luxury residential tower adjacent to the famous art museum. The 750,000 square feet building will be designed by Pritzker...
With home prices in the city centre softening, analysts say many developers are likely to hold back on launching new projects for the rest of the year. Real estate consultancy CBRE estimates that there are some 2,000 units of private homes yet to be launched for sale in the core central region -- the highest compared to the city fringe and the suburban areas. Upcoming project DUO Residences in Bugis...