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
MR SIMON Cheong, president of the Real Estate Developers' Association of Singapore (Redas), raised government hackles this week when he questioned the need for government intervention to halt the rise of private home prices. He had asked if the state should be so concerned with the prices of private home prices, when the segment serves only 16.5 per cent of the population. The Government recently...
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...
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...
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 30Â 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...