Rental rates for mid-range retail space likely to fall
Mid-range retail spaces in Singapore are likely to see a fall in rental rates, due to a drop in tourist arrivals and slowing domestic spending. Properties which are having rental rates renegotiated in the midst of the current economic downturn are likely to be the most vulnerable. Experts said landlords will have to rent out … Read more
JTC reports drop in Q3 net allocation of prepared industrial land
JTC Corporation reported a 38.5 per cent drop in net allocation of prepared industrial land (PIL) for the third-quarter 2008, on a year-on-year basis. Third quarter figures stood at 34.5 hectares, similar to the previous quarter but lower than the 56.2 hectares seen in the same period last year. Property consultancy Jones Lang LaSalle told … Read more
Plan to develop eco-park on Semakau Landfill expected early 2009
Semakau Landfill is set to get a new lease of life. Jurong Consultants, as well as RSP Architects and Planners, are expected to come back with a master plan by early 2009. The aim is to determine whether part of the area can be turned into an eco-park that runs on its own water and … Read more
ARA reports higher Q3 ’08 profit
ARA Asset Management Limited on Monday posted net profit of S$27.2 million for the three quarters ended 30 September 2008, a 138 per cent increase from S$11.4 million a year ago. Total revenue for the period rose 95 per cent to S$51.8 million from S$26.6 million previously, primarily due to higher REIT management fees from … Read more
YTL sparks hope in dreary property sector
Malaysian tycoon’s $285 million Reit stake cheers markets FINDING investors bullish about Singapore’s property market is rather like finding a needle in a haystack these days, so the arrival of Malaysian tycoon Francis Yeoh last week seemed like a godsend. Mr Yeoh’s ambitious deal-making was one of the few bright spots on the corporate scene … Read more
Days of sky-high HDB rents numbered: Analysts
Falling private home rents seen as a major cause THEY are the next segment of the local property market to be hit by the global financial crisis. Rents of Housing Board flats, which have been climbing steadily, largely on demand from foreigners squeezed out of the private homes market, are up only slightly in the … Read more
Construction industry seen resisting downturn
NatSteel president cites public housing demand, projects Singapore’s construction industry is unlikely to slump despite the dim economic outlook, according to the head of the biggest steelmaker here. In a recent interview with The Business Times, NatSteel president TV Narendran pointed out that public housing demand remains firm, and there are still a number of … Read more
Firms find business prospects best in China, Singapore
China and Singapore hold the best business prospects for local and foreign firms here in the next six months, say respondents to the latest BT-UniSIM business climate survey. Of the 154 firms polled, close to three quarters of them have business dealings overseas. Of these, about 22 per cent cited China and 21 per cent … Read more
Going green
What does Singapore need to do to become a model city of the future in terms of its use of energy? How can businesses contribute to this goal? Cheong-Chua Koon Hean CEO Urban Redevelopment Authority ENSURING energy conservation and efficiency in cities is an essential part of managing global energy use. Cities house half of … Read more
