City Developments' second quarter earnings tumbled 37.7 per cent from last year to S$137.7 million. The Singapore-listed developer noted a lack of substantial divestment gains in 2012 compared to a year earlier, and said revenue in the latest quarter was down by 19.6 per cent to S$787.7 million. From its hotels worldwide, Revenue Per Available Room (RevPAR), which is a measure of how good a hotelier is...
real-estate
The Housing and Development Board (HDB) has awarded the tender for a 99-year leasehold residential site at Bright Hill Drive to United Venture Development (UVD). The tender attracted a total of six bids with UVD placing the top bid of S$291.5 million for the site, about 18 per cent higher than the next bid. UVD is a joint venture company of UOL and Singapore Land Ltd. The site at Bright Hill Drive spans...
One Dusun Residences is an iconic freehold mix development standing 29 storeys high, integrated with a 2-storey retail mall hosting a wide array of F&B outlets and retail shops. Located at 1 Jalan Dusun off Balestier Road, One Dusun Residences is easily accessible to expressways (CTE, PIE) & Novena MRT. It is within 5 minutes drive away to Novena & Orchard shopping belt which offers residents...
For the last three years, the trend in Singapore's residential property market has been virtually one-directional: Up. Despite the Government's repeated efforts to cool the market, home prices have remained resilient and recently hit new highs. It is not hard to see why. Population growth has been on an uptrend, there has been a housing shortage for years, and borrowing rates are currently low. I have...
Sentiment for the property development industry in Singapore has improved marginally in the second quarter. This according to the latest survey jointly developed by the Real Estate Developers' Association of Singapore (REDAS) and the NUS Department of Real Estate. According to the Real Estate Sentiment Index (RESI), the outlook for Singapore's real estate market is showing a modest improvement compared...
Singapore's property cooling measures do not appear to have hurt the bottomline of property and hospitality group, Roxy-Pacific Holdings. Roxy-Pacific booked an 8 per cent rise in second quarter net profit to S$17.7 million, due partly to higher revenue from its property development business. Its market capitalisation leaped from S$190.97 million at listing, to S$410.6 million as of July 31,...
Overseas Union Enterprise posted a 13.3 per cent on-year increase in net profit to about S$22.8 million for the second quarter ended June 30, 2012. Revenue for Q2 was up by 33.8 per cent to some S$96.7 million, compared to the previous year. In a stock exchange filing, OUE said the increase in revenue was mainly driven by the hospitality and the property investment divisions. The hospitality division...
Real estate agency DTZ is inviting interested parties to participate in an expressions-of-interest exercise for an industrial property located at 745 Lorong 5 Toa Payoh. The four-storey light industry building has a 60-year tenure commencing January 19, 1970. It sits on a land area of 44,906 square feet, and has a gross floor area of 83,342 square feet. This site is zoned "Business 1" at plot ratio 2.5,...
The Housing and Development Board (HDB) said the tender for the residential site at Bright Hill Drive has attracted a total of six bids. United Venture Development (UVD) placed the top bid of S$291.5 million for the 99-year leasehold site. UVD is a joint venture company of UOL and Singapore Land Limited. The top bid is about 18 per cent more than the second highest bid of S$246.8 million jointly tabled...
Despite concerns over the eurozone debt problems, Singapore saw buoyant purchase demand from investors and home buyers in the second quarter of 2012. According to DTZ Research, real estate investment rose 48 per cent quarter-on-quarter to S$6.9 billion in the second quarter, lifted by an increase in both domestic and cross border investments. Whilst government land sales (GLS) contributed to 43 per cent...