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...
Simon Cheong
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...
Sales of private homes by Singapore developers dropped by 56 per cent for the year ended June 30, with only about 7,200 units being sold. However, Real Estate Developers' Association of Singapore (REDAS) believes private home prices will not drop sharply this year, despite the tight credit market and economic slowdown. President of REDAS, Simon Cheong, said: "If it drops, it will not be much more. This...
SC Global Developments has received a strong response to its private views for its latest high-end residential project, Martin No 38. All 30 units released in the first phase of marketing have been sold at an average price of $2,130 per square foot (psf), above the expected average price of $2,000 psf. "We are naturally very pleased with the response and how well-received the project has been by the...
Head of property developer SC Global still bullish on the local real estate market JUDGING from recent transactions, property prices appear to have hit or are near the floor, according to Mr Simon Cheong, the president of the Real Estate Developers’ Association of Singapore (Redas). As evidence, Mr Cheong, the head of high-end property developer SC Global, points to recent transactions of luxury...