DESPITE its ups and downs, property appears to be the main investment path for those with surplus cash who want to diversify from their existing businesses. So it was with stockbrokers Han Seng Juan and David Loh Kim Kang when they founded Centurion Properties a couple of years ago. They’re the “David and Han Team” or “The Dream Team”, as they are popularly known in the stockbroking world, due...
Overseas Property
Singapore's construction consultancy exports have increased despite the bustling domestic market. This is according to a survey conducted by the Building and Construction Authority. Singapore consultancy firms secured a total of 406 projects in 2007 or up some 13 per cent on year. The most sought-after services were for architectural and master-planning services, constituting more than half of the total...
Luxury resorts and spa operator, Banyan Tree, has announced aggressive plans to expand its global operations. The company believes that China-led growth will be a defining feature of global travel over the next few decades. So, it's expanding its operations in the Chinese mainland to 12 locations from the current four. To support the expansion, Banyan Tree said it's planning to launch a new US$400...
Property developer Keppel Land has secured an option to develop a residential site in Vietnam's Ho Chi Minh City. The project is estimated to cost US$390 million. Keppel Land signed the agreement through its wholly-owned subsidiary Earlsbay Investments. Under the deal, the Singapore developer will hold a 60 percent stake, while local property developer Hong Quang takes on the remaining interest. The...
Property developer CapitaLand is joining hands with Mubadala Development to invest in the property sector in Abu Dhabi. The two partners have launched a joint venture company called Capitala. They are pumping in US$300 million into the joint venture. Mubadala Development will hold a 51 percent stake, with CapitaLand holding the remaining 49 percent. Capitala will develop mainly residential properties in...
The Government of Singapore Investment Corp (GIC) has agreed to buy the Westin Tokyo luxury hotel for 77 billion yen (723 million US dollars) from Morgan Stanley, a newspaper said Sunday. The parties have reached a basic accord on the purchase of the land and the building located in Tokyo's high-end residential and commercial district of Ebisu, the Nikkei business daily said. They plan to complete the...
Iconic projects around Dubai belied its ambition to turn barren desert into a world class destination. The Palm Jumeirah, fanning out into the Arabian Gulf, is hailed as a symbol of Dubai's growth, innovation and vision for the future. Palm Jumeirah It is one of the world's largest man-made islands, covering 560 hectares or more than 600 football fields. Built entirely on reclaimed land, it is also the...
A growing middle class seeking property in Vietnam will keep Singapore property developers there busy, even as its government plans a tax on capital gains. Last month, the national assembly of the socialist country passed new regulations to tax capital gains - 20 per cent on stock trade gains, and 25 per cent on property profits - from January 2009. “With regard to the recent proposal of introducing a...