German fund to pour up to 4b euros into Asia
Favourite markets are Japan, South Korea, Singapore and Malaysia German fund manager Union Investment Real Estate plans to invest up to four billion euros (S$8.44 billion) in Asia over five years, hoping its drive for diversification will also give returns an extra kick. German open-ended property funds, including those run by Union Investment, have been … Read more
Properties in Vietnam fully leased: KepLand
It sees ‘little impact’ from accelerating inflation there KEPPEL Land Ltd (KepLand), Singapore’s third-largest developer, said its commercial properties in Vietnam are fully leased and the company sees ‘little impact’ from accelerating inflation in the country. Vietnam cut its 2008 economic growth target yesterday to 7 per cent from 9 per cent as the year-on-year … Read more
Higher rents lift Europe’s property market
The clouds over European commercial property may be about to lift because falling prices have raised rental yields, while inflation pressures elsewhere are making the sector’s index-linked rents a tempting hedge. The vast majority of shops, warehouses and offices across the continent are let on rents that rise in line with inflation. Fund managers and … Read more
Flat-buyers: Think through options
I REFER to “Building Brics for HDB” (May 27) from Wong Weng Keet. The new flat application process aims to encourage flat-buyers to think through their housing plans and options carefully before they apply for a flat. We would like to clarify that under the revised procedures, the priorities under the Married Child Priority Scheme … Read more
Four en bloc sites back on market with lower tags
Cavenagh Gardens, Novena Hill, Seletar Garden, Hong Thye offered in Q4 2007 FOUR collective sale sites are back on the market, with price expectations much lower than when they were offered in Q4 last year. Cavenagh Gardens, Novena Hill, Seletar Garden and Hong Thye are for sale after attracting weak bids the last time round. … Read more
4 sites relaunched for collective sale at lower prices
PropNex hopes 30% cut in asking price will attract buyers, as demand is ’still there’ A BOLD property firm is defying market trends with a renewed bid to sell four housing sites en bloc, even though the market appears dead for now. PropNex Realty admits its move is ‘contrarian’ but hopes a hefty asking price … Read more
Jurong Island underground caverns run into delays
The $700 million first phase of the project to store oil in underground caverns beneath Jurong Island has been held up, with full-blown construction now expected to start at the end of this year or early 2009. The hold-up surfaced when JTC Corporation called this week for tenders for an insurer to cover the design … Read more
Singapore safe place to do business: study
Republic ranked together with Japan, Germany & Australia SINGAPORE is a very safe place to do business, according to findings from French credit insurance firm Coface’s Business Climate@ratings. The study, released yesterday, provides two ratings for 150 countries – a rating on risks inherent in the business climate, and a more holistic rating that takes … Read more
Hotels need long-term plan for F1 packages: study
HOTELS need to have in place a long-term pricing strategy when it comes to room rates and hospitality packages for the Formula One race to ensure that visitors keep coming back for subsequent races. Integrated Decisions and Systems International Inc (IDeaS), which provides revenue optimisation software to the hospitality industry, released a study conducted last … Read more
Rental flats: HDB to weed out errant tenants
THE Housing and Development Board (HDB) is clamping down harder on the abuse of its heavily subsidised rental flats. Enforcement blitzes to identify illegally rented flats will be stepped up and they will be extended across a wider area of the country, said the HDB yesterday. Its response comes amid growing disquiet on several fronts … Read more
