Singapore's property market turned in a poor showing in the first quarter as developers and home-buyers braced themselves for a prolonged downturn. But analysts said there are cash-rich individuals out there who might inject life into the Singapore market in the coming months. They said these individuals with deep pockets have been doing their homework in recent months and are now ready to close in on...
developers
Some private property developers are thinking of turning their residential projects into serviced apartments. Ascott Hospitality said it has been approached by some developers recently, but declined to say which were considering such a move. Experts, however, said such conversions are unlikely to gain popularity in Singapore anytime soon as there are many factors against it. Private home sales may have...
Evergro Properties saw net profit more than triple to S$389,000 in the first quarter of 2009, compared to S$101,000 a year ago. The increase was largely due to a 21.5 per cent jump in interest earned from bank and other deposits amounting to S$134,000 in the three months ended March 31. Evergro, which is a unit of Keppel Land, said revenue fell by 39.2 per cent on-quarter to S$5.7 million in the first...
APPLICATIONS were only supposed to open tomorrow - but the overwhelming response to the Housing and Development Board's (HDB) latest housing project in Simei under the Design, Build and Sell Scheme (DBSS), prompted developer Sim Lian Group to accept bookings on Saturday. On Friday, over a hundred people began queuing for the flats at Parc Lumiere, after Sim Lian said bookings would be accepted on a...
Applications were only supposed to open on Tuesday, but the overwhelming response to the Housing and Development Board's (HDB) latest housing project in Simei, under the Design, Build and Sell Scheme (DBSS), prompted developer Sim Lian Group to accept bookings on Saturday. Under DBSS, private developers manage the project from its design to construction and sale, and applications are accepted on a...
THE buzz continues at property launches on the island. City Developments said yesterday that it achieved about $190 million of sales from selling about 150 units at The Arte at Thomson since March 21. The freehold project is priced at $880 psf on average. No premium is being being charged for an interest absorption scheme (IAS) that CDL has extended to buyers. The scheme means buyers pay just the...
City Developments (CDL) said sales at "The Arte" condominium project have surpassed the 80 per cent mark. The developer said 150 units were snapped up in a Phase 1 launch recently with S$190 million of deals recorded. Most of those sold went for under S$2 million. The 336-unit freehold project at Thomson Road has been priced at an average of S$880 per square foot, with units ranging from 1,055 sq ft for...
Main board listed developer Sim Lian Group will launch its latest development, Parc Lumiere, by walk-in-selection on April 18. Parc Lumiere is a public housing project under the Housing & Development Board's "Design, Build and Sell Scheme" (DBSS). The development which is located near the Simei MRT station will comprise 360 four and five room units. Sim Lian said the average selling price for the...
The Singapore government will not step in to underwrite existing bank loans to property developers for now. This is because loans and other financing options are still available despite the current credit crunch, said National Development Minister Mah Bow Tan in Parliament on Monday. The economy is facing a difficult recession, but Singapore property developers may have been spared the brunt of the...
Property developer CapitaLand has been recognised as a corporate sustainability leader by two international sustainability benchmarks. It has been included as a component of the newly-launched Dow Jones Sustainability Asia Pacific Index. The index ranks the top 20 per cent of the largest 600 companies in Asia Pacific based on long-term economic, environmental and social criteria. CapitaLand is the only...