Archive for July 2nd, 2008
Posted by luxuryasiahome on July 2, 2008
Business parks are set to see occupancy rates go beyond 90 per cent by the end of June this year to hit a new peak, according to property consultants CB Richard Ellis (CBRE).
At the end of March, the average occupancy rate for business parks stood at about 88 per cent.
CBRE said office space shortage and persistent rent increases are driving office tenants towards industrial properties.
This has pushed up business park rents by an average of 30 per cent since the start of the year.
During the second quarter, two business park sites at one-north were awarded, which will add over 90,000 square metres of space by the end of 2009.
Source : Channel NewsAsia – 2 Jul 2008
Posted in General, Industrial, Market Reports, Rental | Tagged: Business Park Rental, Business Parks, Industrial Space, Occupancy Rates, Singapore Industrial | Leave a Comment »
Posted by luxuryasiahome on July 2, 2008
Singapore will introduce a new Long Term Pass (LTP) card to all foreigners residing in Singapore on Student’s Pass (STP), long term visit pass, Employment Pass (EP) and Dependant’s Pass.
The move is part of the government’s initiative to enhance the national security of the country, said the Immigration & Checkpoints Authority (ICA) and the Ministry of Manpower (MOM) in a joint statement on Wednesday.
The LTP card will replace the current stamp endorsement on the travel documents and the paper-laminated Disembarkation/Embarkation card issued to long-term pass holders.
The LTP card will bear the photograph and fingerprint of all cardholders aged 15 and above.
With the added personal identifiers, government agencies will be able to verify the cardholder’s identity through face and fingerprint matching.
The LTP card boasts better security features compared to the present card, containing biometric features to provide more secure means of identifying individuals and facilitate travel, while deterring forgery and fraudulent use of the card.
All new long term visit pass and STP holders will be issued with LTP cards in the second half of 2008.
MOM will also open a new Employment Pass Services Centre in 2009 to register and issue the new cards to those currently holding on to the various types of employment passes.
The ministry said they will transit to the new cards from the second quarter of 2009 during renewal of their passes. They will be informed when and how to register.
Source : Channel NewsAsia – 2 Jul 2008
Posted in All Singapore, Foreigners, General, Govt Policy | Tagged: Dependant’s Pass, Employment Pass (EP), Foreigners, Long Term Pass, Long Term Visit Pass, Singapore Expats, Singapore Foreigners, Student’s Pass (STP) | Leave a Comment »
Posted by luxuryasiahome on July 2, 2008
Laguna Resorts & Hotels Public Company Limited, the Thai unit of Banyan Tree Holdings Ltd, said it has agreed to buy a 38-hectare land parcel adjacent to Laguna Phuket from Cherng Talay Development Company Limited.
The land will be developed for residential, hotel and commercial use.
As part of this agreement, two land plots amounting to 8.8 hectares were purchased at the end of last week at about 380 million baht (US$11.37 million).
Laguna Lakes Limited, through which the purchase was made, has, at its own discretion, the right to buy the remaining plots over a period of up to 10 years.
Source : Business Times – 2 Jun 2008
Posted in General, Overseas Property | Tagged: Banyan Tree, Cherng Talay Development, Laguna Phuket, Laguna Resorts & Hotels, Phuket Property, Thailand Property | Leave a Comment »
Posted by luxuryasiahome on July 2, 2008
Laguna Resorts & Hotels Public Company Limited, the Thai unit of Banyan Tree Holdings Ltd, said it has agreed to buy a 38-hectare land parcel adjacent to Laguna Phuket from Cherng Talay Development Company Limited.
The land will be developed for residential, hotel and commercial use.
As part of this agreement, two land plots amounting to 8.8 hectares were purchased at the end of last week at about 380 million baht (US$11.37 million).
Laguna Lakes Limited, through which the purchase was made, has, at its own discretion, the right to buy the remaining plots over a period of up to 10 years.
Source : Business Times – 2 Jun 2008
Posted in General, Overseas Property | Tagged: Banyan Tree, Cherng Talay Development, Laguna Phuket, Laguna Resorts & Hotels, Phuket Property, Thailand Property | Leave a Comment »
Posted by luxuryasiahome on July 2, 2008
Laguna Resorts & Hotels Public Company Limited, the Thai unit of Banyan Tree Holdings Ltd, said it has agreed to buy a 38-hectare land parcel adjacent to Laguna Phuket from Cherng Talay Development Company Limited.
The land will be developed for residential, hotel and commercial use.
As part of this agreement, two land plots amounting to 8.8 hectares were purchased at the end of last week at about 380 million baht (US$11.37 million).
Laguna Lakes Limited, through which the purchase was made, has, at its own discretion, the right to buy the remaining plots over a period of up to 10 years.
Source : Business Times – 2 Jun 2008
Posted in General, Overseas Property | Tagged: Banyan Tree, Cherng Talay Development, Laguna Phuket, Laguna Resorts & Hotels, Phuket Property, Thailand Property | Leave a Comment »
Posted by luxuryasiahome on July 2, 2008
Laguna Resorts & Hotels Public Company Limited, the Thai unit of Banyan Tree Holdings Ltd, said it has agreed to buy a 38-hectare land parcel adjacent to Laguna Phuket from Cherng Talay Development Company Limited.
The land will be developed for residential, hotel and commercial use.
As part of this agreement, two land plots amounting to 8.8 hectares were purchased at the end of last week at about 380 million baht (US$11.37 million).
Laguna Lakes Limited, through which the purchase was made, has, at its own discretion, the right to buy the remaining plots over a period of up to 10 years.
Source : Business Times – 2 Jun 2008
Posted in General, Overseas Property | Tagged: Banyan Tree, Cherng Talay Development, Laguna Phuket, Laguna Resorts & Hotels, Phuket Property, Thailand Property | Leave a Comment »
Posted by luxuryasiahome on July 2, 2008
Laguna Resorts & Hotels Public Company Limited, the Thai unit of Banyan Tree Holdings Ltd, said it has agreed to buy a 38-hectare land parcel adjacent to Laguna Phuket from Cherng Talay Development Company Limited.
The land will be developed for residential, hotel and commercial use.
As part of this agreement, two land plots amounting to 8.8 hectares were purchased at the end of last week at about 380 million baht (US$11.37 million).
Laguna Lakes Limited, through which the purchase was made, has, at its own discretion, the right to buy the remaining plots over a period of up to 10 years.
Source : Business Times – 2 Jun 2008
Posted in General, Overseas Property | Tagged: Banyan Tree, Cherng Talay Development, Laguna Phuket, Laguna Resorts & Hotels, Phuket Property, Thailand Property | Leave a Comment »
Posted by luxuryasiahome on July 2, 2008
Laguna Resorts & Hotels Public Company Limited, the Thai unit of Banyan Tree Holdings Ltd, said it has agreed to buy a 38-hectare land parcel adjacent to Laguna Phuket from Cherng Talay Development Company Limited.
The land will be developed for residential, hotel and commercial use.
As part of this agreement, two land plots amounting to 8.8 hectares were purchased at the end of last week at about 380 million baht (US$11.37 million).
Laguna Lakes Limited, through which the purchase was made, has, at its own discretion, the right to buy the remaining plots over a period of up to 10 years.
Source : Business Times – 2 Jun 2008
Posted in General, Overseas Property | Tagged: Banyan Tree, Cherng Talay Development, Laguna Phuket, Laguna Resorts & Hotels, Phuket Property, Thailand Property | Leave a Comment »
Posted by luxuryasiahome on July 2, 2008
Laguna Resorts & Hotels Public Company Limited, the Thai unit of Banyan Tree Holdings Ltd, said it has agreed to buy a 38-hectare land parcel adjacent to Laguna Phuket from Cherng Talay Development Company Limited.
The land will be developed for residential, hotel and commercial use.
As part of this agreement, two land plots amounting to 8.8 hectares were purchased at the end of last week at about 380 million baht (US$11.37 million).
Laguna Lakes Limited, through which the purchase was made, has, at its own discretion, the right to buy the remaining plots over a period of up to 10 years.
Source : Business Times – 2 Jun 2008
Posted in General, Overseas Property | Tagged: Banyan Tree, Cherng Talay Development, Laguna Phuket, Laguna Resorts & Hotels, Phuket Property, Thailand Property | Leave a Comment »
Posted by luxuryasiahome on July 2, 2008
AmFraser Securities Pte Ltd on Wednesday initiated a buy call on property group Singapore Land Limited and pegged its target price at $8.22 a share.
At 3.45 pm, SingLand was trading around $6.19 a share, down 6 cents or 1 per cent from Tuesday’s close.
‘We put fair value at $8.22, based on a 30 per cent discount to our RNAV estimate of $11.75, in view of a moderating property cycle. Trading at a P/B ratio of 0.64 and at a 24% discount to our target price, we think that SingLand is grossly oversold at current price of $6.25,’ AmFraser’s analyst Henry Tan said in the research report.
The analyst said that at current share price, the implied value of SingLand’s quality office assets is cheap at $630 psf compared to recent transacted values of $2,000 psf – $3,000 psf.
Mr Tan added that the company, with an office property portfolio of 2.6 million square foot of net lettable area in Singapore, of which 80 per cent is located in the CBD, is a prime beneficiary of rising office rental rates.
‘New supply of office space is expected to be tight till 2010 while net incremental demand is projected at 2m sf p.a., boosting market occupancy rates to a peak 95.3 per centin 2009. On reversion rates at a-third of occupancy, we forecast SingLand’s office investment revenues to jump 20 per cent in FY08 and 46 per cent in FY09. Office assets account for 75 per cent of RNAV.’
The company’s most significant mall, Marina Square, and all three hotels in downtown Marina Centre, stands to benefit from increased traffic flow and the Formula One (F1) Grand Prix event routed in the area every September, Mr Tan noted.
‘ We have assumed cap rates of 5 per cent for SingLand’s office assets; however, amidst strong investment demand for office properties in a strong rental cycle, there is room for downside to cap rates. A one percentage point fall in cap rates will raise our RNAV estimate by 19 per cent to 13.98, boosting fair value to $9.79,’ Mr Tan said.
Source : Business Times – 2 Jun 2008
Posted in Developer News, General | Tagged: AmFraser Securities, Developers, SingLand | Leave a Comment »
