City Development’s City Square Mall to open by end-2009
A sprawling 700,000 square foot mall will open in Little India by the end of next year. City Square Mall’s launch will coincide with that of other major retail shopping centres along Orchard Road like 313@Somerset. However, its developers remain confident that the new malls will not pose a threat. Going by the numbers, it … Read more
Government waives building charge on extension of state leases
The government is doing away with the building premium it charges on all buildings when granting lease extensions. The government currently charges both a land premium and a building premium when extending a state lease. The charging of these premiums was based on the Common Law principle that both land and buildings would revert to … Read more
US real estate, banks still troubled: French minister
The US economy has not yet recovered from the financial crisis and its banking and real estate sectors still face difficulties, French Economy Minister Christine Lagarde said on Monday. Ms Lagarde said France was downgrading its 2008 growth forecast partly because it had underestimated the impact of the US crisis, and that it would now … Read more
UK house prices dip
RITISH house prices fell for an 11th straight month in August to stand 5.3 per cent lower than a year earlier, a survey by property consultants Hometrack showed on Monday. The monthly price drop of 0.9 per cent was slightly smaller than the previous two months, however. The figures are not adjusted to take seasonal … Read more
A higher bid or rival offer for Japan Land?
Tycoon Oei Hong Leong may be further from his dream of controlling a Japanese company than was earlier thought, if the advice by Japan Land’s independent financial adviser holds any weight. Last week, DMG & Partners Securities advised directors and shareholders of Japan Land to reject the takeover offer by Mr Oei – who owns … Read more
JTC to give more specific property info
MARKET players can better decide which projects they want to go for when industrial landlord JTC Corporation offers more supply information starting in the first half of next year. This will give developers a better idea of which businesses will find a certain space appropriate, said Mr Heah Soon Poh, director of the specialised parks … Read more
