Hong Kong, Singapore most global trade friendly
Hong Kong and Singapore are the two economies most conducive to global trade, according to a ranking by the World Economic Forum released on Wednesday. The World Economic Forum’s new Global Enabling Trade Index survey of 118 economies looked at ten factors impacting trade, such as tariffs, customs administration efficiency and availability of transport and … Read more
Govt to offer 13 new land sites in second half
THIRTEEN new sites have been added to the Government Land Sale (GLS) programme in the second half, adding more homes, hotels and office space to meet an expected increase in demand and a surge in tourist arrivals. The new parcels comprise six residential, three commercial, three hotel and one white sites, said the Urban Redevelopment … Read more
Apartments above $10m still shine in dull market
In the landed sector, demand for GCBs remains strong, says CBRE The high-end residential sector has been largely subdued in 2008, but at least 50 luxury apartments costing above $10 million each have been sold so far this year. And the tally for the full year, according to property consultant CB Richard Ellis (CBRE), is … Read more
Big players from the little red dot
DESPITE being small, Singapore boasts a sizeable pool of hoteliers and serviced residence owners and operators who have made their name in the world. The Ascott Group, a hospitality player with a presence in India, is one of the world’s largest international serviced residence owner-operators. Banyan Tree made the Conde Nast Traveller’s Gold List 2006 … Read more
Ascott loves blazing a trail in India
WHAT the Singapore- based Ascott Group has to offer India is likened to ‘adding ciabatta and focaccia to a selection of pratas and naans to cater to different tastes and preferences’, says Gerald Lee, its deputy chief executive for operations. ‘We bring something that works in the Indian market, and up the standard and choice … Read more
M&C takes the JV route to bridge the 2-star and 5-star gap
MILLENNIUM & Copthorne Hotels, ‘the largest international hotel group in Singapore’, is also ranked ‘in the top 40 of the world’s 300 largest international hotel companies’. And it has got to where it is mainly through acquisitions. In fact, Millennium & Copthorne (M&C) first caught global attention when it acquired a 50 per cent stake … Read more
Singapore short rates dive, defying expectations
Analysts believe yesterday’s big move was due to intervention by MAS SHORT-TERM interest rates plunged yesterday to almost hit a year low, causing some analysts to scratch their heads after saying last week the bottom had been reached. The three-month Singapore interbank offer rate (Sibor) fell 12.5 basis points to 1.25 per cent yesterday – … Read more
Positive outlook for Asian property
Inflows from outside region rising as a result of credit crisis in US and Europe, says report THE flow of capital into the Asia-Pacific’s real estate market from outside the region is accelerating, a new report on property investment has found. This is the result of the credit crisis in the United States and Europe, … Read more
Capital inflow to Asian real estate to climb
Asian market being powered by longer-term investments: report The ongoing credit crisis in the US and Europe has put pressure on a decade of sustained growth in global real estate but the inflow of capital to Asia’s real estate market is accelerating, says a report. The report – which was released yesterday by KPMG, the … Read more
CBRE S’pore earnings up 130% last year
CB RICHARD Ellis Singapore has set up three new businesses this year – luxury homes, a residential agency of associates to market projects for developers and a hotel business – to provide a stable and broader business platform, after record revenue and net earnings last year. The property consultancy company’s managing director Pauline Goh would … Read more
