Rooms Going Fast And Furious? Well …
Only 3 out of 15 hotels report full occupancy during Grand Prix stretch AS SINGAPORE hoteliers gear up for the nation’s first ever Formula 1 night race later this week, the initial euphoria about a potentially huge tourist windfall has given way to more realistic expectations. Of the management teams at 15 hotels Today spoke … Read more
CapitaLand JV awards US$500m construction contract
Capitala, a joint venture company between CapitaLand and Mubadala, has announced that it has awarded the main construction contract for the first phase of the US$5 billion – US$6 billion Rihan Heights project in Abu Dhabi. The US$500 million construction contract went to a joint venture partnership between Sunway Construction Sdn Bhd and Silver Coast … Read more
State land sale revenue doubles in 07/08: SLA
Singapore Land Authority (SLA) on Tuesday said that the total land sale revenue due to the State for the financial year ended March 31, 2008 doubled to hit $12.4 billion, from $6.2 billion in the previous year. The numbers mark a steady increase for 10 straight years now, since the property slump in 1997/98, SLA … Read more
SLA’s 2007 land sales revenue doubled to S$12.4b
The Singapore Land Authority’s (SLA) land sales revenue doubled to S$12.4 billion for its financial year ended 31 March 2008. The property market boom and strong demand in state properties for office, education and commercial uses pushed sale revenue to just S$2 billion shy of the record S$14 billion netted in 1997. According to the … Read more
SLA reaps $12.4b in sales
THE property market might not be red-hot at the moment, but the bullrun last year was enough to send sales revenue at the Singapore Land Authority (SLA) shooting to a ten-year high of $12.4 billion. This was a two-fold increase from the $6.2 billion achieved in the 2006 financial year, and is just shy of … Read more
URA office site for sale
A TRANSITIONAL office site, with direct frontage along Mountbatten Road, has been put up for sale by public tender on Tuesday. The Urban Redevelopment Authority (URA) said the site is one of the three commercial sites to be sold through the confirmed list under the Government Land Sales Programme for the second half of this … Read more
SWFs seen raising property investment
Sovereign wealth funds may increase investment in commercial properties to a net US$725 billion by 2015 as they diversify their holdings from stocks and bonds, according to CB Richard Ellis Group Inc. The funds will probably raise the proportion of money they invest in real estate to 7 per cent from 4 per cent in … Read more
France more resilient to home price woes
Ewa Filipiak, an economist who’s been apartment-hunting in Paris for six months, has decided now is not the time to buy. ‘It’s a good time to wait and see – I think chances are getting better for finding something exceptional,’ said the 29-year-old. House price falls in Britain, Spain and Ireland have made headlines and … Read more
US mall owner to raise capital
General Growth may sell assets or shares after stock slumps General Growth Properties Inc, the second-largest US mall owner, said that it may sell assets or equity to raise capital after the company’s shares slumped. General Growth will also consider ‘strategic business combinations’ to boost its stock, the Chicago-based company said yesterday in a statement. … Read more
UK housing market ‘on its knees’, says Rightmove
Properties may see more weakness: BOE chief economist UK house prices fell for a fourth month in September as the global credit crisis intensified, locking out homebuyers and forcing the sale of the country’s biggest mortgage lender, a report by Rightmove plc showed. ‘The housing market is on its knees and will remain so until … Read more
