Cuppage Terrace gets trendy
ONCE a sleepy walkway in an area known for Japanese food, Cuppage Terrace hopes to woo a more trendy crowd after a $15-million revamp. A tantalising array of 15 al fresco outlets, including restaurants, bars and spas, will open later this month, offering more late-night options for office workers and tourists alike. The area will … Read more
Foreign workers prefer to stay away from residential estates
The idea of a self-contained township for foreign workers has been given a thumbs-up by foreign workers themselves. But foreign worker advocates said more should be done to help these workers integrate with the wider community. Singaporeans who do not want foreign workers living near them cite security concerns and even a downgrade in their … Read more
NZ house sales slump to 26-year low
Sales of New Zealand houses fell to a 26-year low last month as interest rates close to a record curtailed demand for property. Weak demand: The median house price last month fell to NZ$330,000 from NZ$350,000 a year earlier – a drop of 5.7 per cent The number of homes sold dropped 34 per cent … Read more
Barratt posts 13% profit fall, cancels dividend
UK house prices fell for the seventh month running in August A slide in Britain’s housing market led builder Barratt Developments plc to cancel its final dividend yesterday after underlying annual profit fell 13 per cent and it warned that the market remained difficult. ‘There is little prospect for any material improvement in trading conditions … Read more
Hopewell full-year profit soars
Hopewell Holdings Ltd, the Hong Kong-based real-estate company controlled by billionaire Gordon Wu, said that full-year profit more than doubled on one-time gains from asset disposals. Net income increased to HK$5.97 billion (S$1.1 billion), or HK$6.62 a share, for the year ended June 30, from HK$2.63 billion, or HK$2.92, a year earlier, the company said … Read more
Abu Dhabi bank putting 1b dirhams in property unit
Its Burooj Properties plans aggressive expansion in Africa, Europe and Asia Abu Dhabi Islamic Bank plans an aggressive real estate expansion outside its home base into Africa, Europe and Asia by putting one billion dirhams (S$390 million) into its Burooj Properties unit. The bank also aims to float a majority of Burooj shares in 2010 … Read more
Political uncertainty in Malaysia mars some investments: report
THE jury is still out on whether the Opposition’s recent success in the Permatang Pauh by-election as well as the March general election have affected the country’s attractiveness to local and foreign property investors, according to a new report by DTZ. Stacking up: The country is seeing frequent headlines of political upheaval – raising concerns … Read more
Singapore Flyer raises its game
Television sets on its premises and in each of its 28 capsules showing live Formula 1 action. Fringe activities such as fire twirlers, samba dance and live band performances. Deejays hitting the deck and gigs by local celebrities like Kumar and John Molina. The Singapore Flyer is going all out with these to woo visitors … Read more
More PRs snapping up private homes
Their share in pool of foreign buyers is rising after turmoil in global markets THE proportion of permanent residents (PRs) in the pool of foreign buyers of private homes here has been rising since the third quarter of 2007, when the US sub-prime crisis struck, according to DTZ’s analysis of caveats data from Urban Redevelopment … Read more
TID wins URA condo-site tender with $84m bid
THE Urban Redevelopment Authority (URA) yesterday awarded a 99-year leasehold condo site next to Tanah Merah MRT Station to top bidder TID, just a day after the tender closed on Tuesday. This contrasts with the couple of weeks or more that URA has taken to deliberate on awarding earlier sites, which fetched bids below expectations. … Read more
