Billion Rise puts in top bid for West Coast residential site
Billion Rise – a company believed to be linked to Hong Kong property giant Cheung Kong Holdings – has put in the top bid of S$110.4 million for a residential site at West Coast Crescent. This works out to S$305 per square foot per plot ratio for the 99-year leasehold parcel. Analysts expect a break-even … Read more
CapitaRetail China to triple assets to $3b
Singapore-listed CapitaRetail China Trust (CRCT) said on Wednesday it expects to triple assets to $3 billion (US$2.18 billion) by end-2009 as investors remain enthusiastic about China’s retail sector. CRCT, which owns eight China malls worth $1.1 billion, is confident it will be able to raise new equity when required and cap borrowings at 35 per … Read more
Analysts still upbeat on Reits but investors wary
FOR some time now, analysts have been saying that realestate investment trusts (Reits) are a good shelter in stormy markets, given their attractive and steady yields. But investors are still not biting, as concerns remain about Reits’ ability to raise capital or refinance debt. The FTSE ST Reit Index closed yesterday at 735.96, about 13 … Read more
MGPA’s Marina View project to cost $5b
Devt to have over 2.6m sq ft in two towers of more than 40 storeys each. MACQUARIE Global Property Advisors (MGPA) will spend about $2 billion building a commercial complex on two development sites at Marina View that it clinched last year. With the sites having cost close to $3 billion, the total investment will … Read more
Aussie firm inks $5b Marina Bay contract
AUSTRALIAN company Macquarie Global Property Advisers (MGPA) is investing $5 billion in an integrated commercial development in Marina Bay and looking for more investments in Singapore and the region. MGPA’s chief executive for Asia developments, Mr Michael Wilkinson, said at the development’s signing ceremony yesterday that the company is optimistic about Singapore property . Mr … Read more
Macquarie still optimistic over real estate
Even as some market observers are saying that the Singapore property market is weakening, Macquarie Global Property Advisers (MGPA) is still optimistic and sees value in the office, retail and residential sectors. “There are still some good bargains around, and in the next 6 to 9 months, there might be better pricing value,” said MGPA’s … Read more
Are markets headed for BIGGER TROUBLE?
Major crisis averted by US Fed last Friday but… What is happening to the world’s financial markets? US shares dropped like a rock on Friday. Today, Asian markets are expected to follow. The story began last Tuesday when the US central bank (the Fed) said it would help commercial banks by loaning them money. Large … Read more
Ripple effect of US economic woes
WHAT is happening in global financial markets? How could US financial markets – the world’s largest, richest, deepest, most sophisticated and supposedly best-regulated – get into such bad shape? Why has this affected global markets? What is the likely impact on the ‘real economy’ in Asia? The problems we see now have been brewing for … Read more
Fed in danger of losing wager on global credit crisis
Wrong moves made in bid to calm markets; ploy of cutting rates simply not working THE desperate measures taken by the United States central bank to restore calm amid a growing storm in global financial markets are beginning to resemble wagers it keeps losing in a giant poker game. As any serious poker player will … Read more
Allco Reit in court to fend off downgrade
It had an injunction to stop Moody’s revision, but this was lifted yesterday. IN AN unprecedented move, a Singapore-listed property trust has taken legal steps to avoid being downgraded by a credit rating agency for the second time in two months. Allco Commercial Real Estate Investment Trust (Reit), which owns buildings such as China Square … Read more
