Analysts say the comprehensive Land Use Plan released by the government on Thursday will present many opportunities for developers. It will also boost the property market in years to come. They add that home prices in some areas could also appreciate, though not any time soon. Housing estates like Woodlands, Sembawang, Seletar and Punggol may be far from the city today, but come 2030, these towns are...
developers
While the latest round of property market cooling measures is likely to hit housing demand significantly, developers are expected to bid actively for the sites on the Government Land Sales programme (GLS) for the first half of this year, as most are situated in good locations. Two days before the Jan 11 announcement of property curbs, the Urban Redevelopment Authority awarded the first GLS site for this...
Property group Keppel Land expects new home sales in Singapore to "come down quite a bit" this year, after new private home sales hit a record 22,000 units in 2012. The developer of Reflections at Keppel Bay is not going to rush into launching new projects in the coming months. Instead, Keppel Land is adopting a wait-and-see approach, before making its next move. This after the seventh round of property...
They should be more calibrated, rather than one-size-fits-all: Developer Property developer GuocoLand, the Singapore-listed firm controlled by Malaysian billionaire Quek Leng Chan, would like to see a more calibrated approach to property cooling measures by the Government rather than a one-size-fits-all approach. Said its newly-appointed Chief Operating Officer, Mr Cheng Hsing Yao: “In a global...
Property analysts said developers will probably have to get more creative in order to move sales after the introduction of new cooling measures recently. One developer told Channel NewsAsia that it is planning to complete its condominium project a year ahead of schedule to entice buyers. To date, 380 of the 500 units launched at La Fiesta at Sengkang have been sold. There are 810 units at La Fiesta in...
City Developments third-quarter profit rose 1.8 per cent, helped by contributions from its office buildings. Net income for the 3 months ended September 30 was S$134.5 million up from S$132.1 million a year earlier. Sales increased 3.4 percent to S$832.9 million. Pretax profit from its rental properties including office buildings more than doubled to S$71.2 million. “While the outlook for the property...
Channel NewsAsia understands authorities are conducting spot checks on at least seven property developers to find out if they have backdated their documents. It has been about a week since the latest round of property cooling measures kicked in. Among the changes is an increase in Additional Buyer's Stamp Duty of five to seven percentage points across the board. In a bid to help buyers avoid paying the...
National Development Minister Khaw Boon Wan has asked the Urban Redevelopment Authority (URA) to review and fix the policy allowing developers to sell off free spaces to make additional profit for themselves. He said this in a blog post, "Who Gets Short-Changed?", on Monday, on the heels of recent launches of executive condominium (EC) projects. Mr Khaw noted that in these projects, super-sized units...
Southeast Asia's largest property developer CapitaLand is reassessing its investments in India, Middle East and London. The company may divest some of its investments in office, commercial and residential properties in these three locations. CapitaLand says it now plans to focus on Singapore and China markets. Making his first major move since taking over the helm at CapitaLand, new President and Group...
The cash offer by property tycoon Simon Cheong to take his flagship company SC Global Developments private is "fair and reasonable". That is the view of the independent directors of the luxury property development firm after taking into account recommendations from an independent financial advisor (IFA). In a company circular to shareholders on Wednesday, the independent directors recommended that...