Residential sector seen taking hit
Prices expected to fall further, with the high-end most at risk due to a lack of foreigner interest, reports UMA SHANKARI RESIDENTIAL markets across Asia are expected to take a hit in the wake of the credit crunch in the US. While the residential sectors in key Asian cities are forecast to continue to grow … Read more
Commercial unit, GCB for sale by tender
A LARGE commercial unit at The Riverwalk, Upper Circular Road, is up for sale at an indicative price of $23 million. The unit, which has a strata area of 20,161 sq ft that represents a 12.11 per cent ownership stake, is owned by private investors. The indicative price works out to about $1,140 per square … Read more
Nuts and bolts of green buildings
A perfect orientation is best but architects can also use other means to reduce energy consumption, reports MATTHEW PHAN IT IS hard to pin down exactly what green architecture entails. Each building is a case study in itself, with specific surroundings, usage patterns, client requirements and weather conditions. One might use a north-south alignment to … Read more
Similar names, but different HDB projects
UNSUCCESSFUL applicants in the HDB’s build-to-order project, Jade Spring@Yishun, cannot be moved automatically to the queue for an adjacent similarly named development, MPs heard yesterday. This is because the two projects are separate exercises, Senior Minister of State (National Development) Grace Fu explained. Applicants who did not select a unit at Jade Spring@Yishun when given … Read more
Act fast or face deep recession: Tony Tan
The global economy will run into even more turbulence if policy makers don’t act quickly and decisively to ease the credit crunch spilling over from the United States, says the Government of Singapore Investment Corp (GIC). But the sovereign wealth fund is standing by its substantial investments in UBS and Citigroup after the sub-prime crisis … Read more
Yummy times for F&B and hospitality
SINGAPORE’S F&B and hospitality industries appear to be set for another strong year ahead – despite rising costs and the shaky economic climate in the United States – on the back of strong demand and increased spending from both Singaporeans and foreign visitors. ’2008 looks set to be a robust year (for the local hospitality … Read more
Meltdown fears pass, but worst may not be over yet: IMF
Although the risk of a financial meltdown has passed, the worst of the US banking and economic crisis may not yet be over, as the crisis moves into new phases, according to a senior official from the International Monetary Fund. In an interview with BT, Charles Collyns, the Fund’s deputy director of research, pointed out that … Read more
Inflation is Asia’s top risk: Aussie economist
INFLATION is the No 1 risk for Asia, ranking even higher than the current credit squeeze and global economic slowdown, a top Australian economist said yesterday. But inflation can be managed if countries allow greater appreciation of their currency, according to Roger Donnelly, chief economist of the Australian Export Finance and Insurance Corporation (EFIC). Although … Read more
K-Reit Q1 distributable income soars 165.9%
K-REIT Asia has reported distributable income of $11.4 million for the quarter ended March 31, a 165.9 per cent increase from the same period in 2007. This was attributed mainly to income from its one-third interest in One Raffles Quay Pte Ltd, the acquisition of which was completed on Dec 10, 2007. K-Reit said the … Read more
Pan-United clinches $23m supply deal
PAN-UNITED Corporation has won a $23 million ready-mixed concrete supply contract, its third relating to work on stage one of the Downtown MRT line. Under the contract, it will supply concrete to Taisei Corporation to construct Landmark station and associated tunnels. The contract lifts Pan-United’s supply order book for DTL to $53 million. Pan-United is … Read more
