Moving away from the city
There is a need to manage demand for land and its increase in value across the island One of the highlights of Singapore’s Draft Master Plan 2008 is to bring jobs closer to home. Economists point out that it makes financial sense for firms to locate in suburban areas. What then are the limiting factors … Read more
CapitaLand going ahead with 2nd Malaysian Reit
Latest offering will comprise 3 malls worth RM2b: chief investment officer CAPITALAND will list its second Malaysian real estate investment trust (Reit) this year, barring unfavourable market conditions, the company’s chief investment officer Kee Teck Koon said yesterday. Mr Kee: CapitaLand will time the launch of the Reit ‘so it can capture the imagination of … Read more
En bloc spat: mailboxes hit
FIRST cars, now letter boxes. A police investigator examining vandalised mailboxes at Laguna Park condo last night. — MUGILAN RAJASEGERAN/THE STRAITS TIMES Several residents of the Laguna Park condominium in Marine Parade Road had their mailboxes vandalised last night. In the third such attack this month, vandals used glue to seal the keyholes of eight … Read more
A-Reit awards S$76.5m Changi Business Park contract
The building will be on land with an area of over 28,000 sq metres – one of the biggest developments there, Lum Chang said. The project is due to be completed by October 2009. The contract marks the second time that A-Reit has appointed homegrown construction company Lum Chang for a Changi Business Park development. … Read more
Hersing partners global property fund for Storhub business
Hersing Corporation on Thursday annnounced it has entered a non-binding memorandum of understanding with a leading global real estate fund which it did not name for a proposed joint venture relating to to Hersing’s self-storage business. Hersing, through its wholly-owned subsidiary Storhub Self Storage Pte Ltd, manages and operates self-storage businesses in five locations across … Read more
US$ slips on housing data, lender worries
IN OVERNIGHT trading, the US dollar gave back a small portion of the strong gains it had chalked up over the past month, rattled a bit by the combination of a stronger – than – expected number out of the Eurozone, and the weaker US housing numbers released on Tuesday evening. Combined with persistent reminders … Read more
Key Japan real estate sector seen tripling
Logistics property market investments may grow 3-fold in a few years: LaSalle Japan’s market for investment in logistics real estate – such as warehouses, distribution centres and ports – is seen growing threefold within a few years as more players enter a sector considered stable even in an economic slowdown, an executive of LaSalle Investment … Read more
San Francisco Bay Area home sales up
7,586, or 2% more, units sold in July, recording first sales gain since Jan 2005 San Francisco Bay Area home sales rose in July for the first time since 2005 and the median price fell to the lowest in more than three years as buyers bought discounted properties in foreclosure. Cheap buys: One-third of the … Read more
Dubai’s new law on mortgage
Dubai newspapers are reporting that the local government has issued a mortgage law aimed at regulating the city-state’s booming property market. Yesterday’s reports in the Khaleej Times and the Gulf News say that the law requires that mortgages be insured, sold by approved banks, registered with local authorities and that they specify the property value … Read more
CityDev inks deal with CIMB
SINGAPORE property developer City Developments on Thursday inked a deal with Malaysian financial group CIMB in a bid to raise one billion Singapore dollars through the issuing of Islamic bonds. City Developments hopes to have the first tranche of the issue on the market by the end of the year, the company said. CIMB is … Read more
