Hong Leong Group has inked a deal to sell Marina House at Shenton Way for $148 million, BT understands. The buyer is believed to be a group led by niche property developer and investor Melvin Poh. Members of his consortium are said to include Victor Soh of Fortune Development. Market watchers suggest that Mr Poh, who also led the purchase of three ageing CBD office blocks last year with an eye to...
developers
The government yesterday defended its policy of managing price movements in the private housing market and also stood by its method of supplying developers with state land sites. It was responding to Wednesday's speech by the president of the Real Estate Developers' Association of Singapore (Redas), Simon Cheong, who said that the government should allow the private property market here to operate as a...
CLAIMS that the Government is partly to blame for Singapore's short supply of land and high property prices have been firmly rebutted by the Ministry of National Development (MND) yesterday. President of the Real Estate Developers' Association of Singapore (Redas), Mr Simon Cheong, questioned on Wednesday the need for government intervention to halt the rise of private home prices, adding that it should...
The Ministry of National Development (MND) has defended its Reserve Price system for state land tenders, and disagrees that it has constrained market forces in Singapore. It issued a statement to rebut what the Real Estate Developers' Association of Singapore (REDAS) President, Simon Cheong had said on Wednesday. Cheong cited two sites, Tampines and Ten Mile Junction, saying they were released for sale...
Engineering and real estate facilities management group TEE International is jointly developing a property at Cairnhill Circle. Working with its partners TG Development and TG Capital Management, TEE plans to build an upper-middle range residential condominium for sale. TG Capital Management will carry out developmental services for this site. TEE and TG have also agreed to become co-developers. TEE...
THE Government has to shoulder some of the blame for the short supply of land and high property prices, said Mr Simon Cheong, president of the Real Estate Developers' Association of Singapore (Redas), yesterday. Mr Cheong told the audience at the launch of a new property price index that land values are largely determined by the Government's reserve price system that features in all state land tenders....
Redas chief says state intervention on supply side not always helpful The president of the Real Estate Developers' Association of Singapore (Redas), Simon Cheong, came out strongly yesterday to say the government should allow the property market here to operate fully as a free market. Mr Cheong, who was speaking at the launch of a new price index for private homes in Singapore, also asked if the state...
Contractor putting centre under receivership SINGAPORE'S largest data centre, owned by listed Japan Land, is at risk of being liquidated as its main contractor is putting the centre under receivership over delayed progress payments. Jurong Data Centre Development (JDD) is unable to repay the debts mainly because a plan to bring in an investor has hit a snag. ConnectedPlanet Holding, which agreed last...
The Real Estate Developers' Association of Singapore (REDAS) hopes that there will be fewer interventions in the private property market. Its president, Simon Cheong, said this would give a freer hand to market forces. Speaking at the launch of the National University of Singapore's national Residential Price Index, Mr Cheong said the recent measures to cool the market did not deter genuine home buyers...
CONTRARY to what some believe, bubbles can be good for the property market, said the executive director of Hong Kong's Cheung Kong (Holdings). Mr Justin Chiu told reporters yesterday at the showflat of his company's latest project here that he likes property bubbles because they fuel sales volumes and price rises. Mr Chiu - who was moved to dress up as James Bond at launch parties in 2004 to stimulate...