KSH Holdings clinches S$126.8m deal to build condo at Sentosa Cove
Construction and property developer KSH Holdings has secured a S$126.8 million contract to build a condominium development at Singapore’s Sentosa Cove. The contract is the first of its kind to be awarded by Lippo Marina Collection for the construction of a luxury housing development at the site. This will be the group’s fifth high-end luxury … Read more
Property developers up on bullish reports
Shares of property developers rose after a research report said that a strong Singapore dollar will spur the Singapore property market. Canadian-based BCA Research said that a firmer Singapore dollar will depress interest rates and propel real estate prices, the Business Times reported on Thursday. CapitaLand, Southeast Asia’s largest developer, soared 4.8 per cent to … Read more
Penalty on the house as banks woo customers
Some are repricing home loans lower, others offer to subsidise penalties As home sales continue to slide, banks are going all out to hang on to their existing home loan borrowers and even poach from their rivals. Some are even offering to pay off the penalties that customers may incur making the switch. Flexibility has … Read more
Banyan Tree may set up more development funds
MANAGER and developer of premium resorts and hotels Banyan Tree Holdings may set up more real estate development funds to support expansion in Japan and the Middle East. ‘Our rapid expansion demands relatively large capital injections,’ said vice-president of business development Paul Chong yesterday at the Cityscape Asia property conference. Banyan Tree is creating closed-end … Read more
Fed Beige Book says US economy slowing, prices rising
The Federal Reserve said on Wednesday that economic conditions were weakening across much of the nation while price pressures from food, fuel and raw materials were increasing. In its anecdotal Beige Book summary of regional economic conditions, the Fed said manufacturers reported widespread increases in raw material prices and planned to raise selling prices to … Read more
Credit market turmoil nearly over: bank chiefs
But investors remain unconvinced as bank stocks plummet Richard Fuld, Lloyd Blankfein and John Mack say that the credit- market contraction is winding down. Investors whose bank stocks have plummeted aren’t convinced. Worst is over: (From above onwards), Mr Blankfein, Mr Fuld and MrMack are optimistic Mr Fuld, chief executive officer of Lehman Brothers Holdings, … Read more
AIDT unveils $560m India development project
Venture will consist of an IT SEZ and a residential and commercial part ASCENDAS India Development Trust (AIDT) has unveiled a $560 million integrated development project in India, the second Indian venture to be announced by it this month. This second project will have a 4.27 million sq ft IT special economic zone (IT SEZ) … Read more
Parkway Life Reit agrees to buy property in Japan
It will acquire a distributing facility in Matsudo city for 2.59b yen PARKWAY Life Reit will soon add an overseas property to its portfolio, following an agreement to buy a distributing facility in Japan for 2.59 billion yen (S$35 million). The Reit’s manager, Parkway Trust Management, yesterday said Parkway Life Reit has agreed to acquire … Read more
PM Lee positive about proposal to link up Singapore, JB urban rails
Prime Minister Lee Hsien Loong has responded positively to a suggestion by Johor’s Chief Minister Abdul Ghani Othman to link up the urban rails of Singapore and Johor Bahru. The issue was discussed when visiting Malaysian Foreign Minister Rais Yatim called on Mr Lee at the Istana on Thursday morning, said Foreign Minister George Yeo … Read more
Theme park land in Johor could be free
Johor exploring possibility of S’pore-Iskandar train link Iskandar Malaysia, the mega development region in Johor, may yet steal an edge over Singapore, especially if it offers choice development sites for free. Khazanah Nasional Bhd managing director Azman Mokhtar said that the option to offer land to build an anchor theme park for free is a … Read more
