I Residence @ Irrawaddy Road
Location: Irrawaddy Road (Novena) Tenure : Freehold Expected Completion: End 2011 Total Units: 70 in one block of 28-storeys Unit Types: 2 Bedrooms ~ 980sqft & 1066sqft (40 units) 3 Bedrooms ~ 1313sqft & 1346sqft (27 units) 3+1 & 4 Bedrooms Penthouses (3 units) Payment Scheme: ~ Normal Progressive with Interests Absorption (finance by OCBC) ~ 5% Booking … Read more
Las Vegas Sands secures US$2b capital funding, remains committed to S’pore project
Las Vegas Sands said Tuesday it has secured over US$2 billion in capital funding commitments to avoid violating loan agreements. President and Chief Operating Officer William Weidner said in a conference call that Sands expects to close the transaction by the end of the week. He continued to say that however, there will be some … Read more
Building of Jurong General Hospital brought forward as construction prices fall
Health Minister Khaw Boon Wan said construction plans for the new Jurong General Hospital have been brought forward to take advantage of softening construction costs. In July, the government has said it is deferring another S$1.7 billion of public sector construction projects to ease pressure on the then red-hot construction sector. More hospital bed spaces … Read more
BBR’s Q3 net profit down 55%
Construction-related BBR Holdings posted net earnings of S$363,000 for the third quarter ended Sept 30, 2008, down 55 per cent from net profit of S$807,000 a year ago. It blamed the drop mainly on higher administrative and other operating costs. Revenue rose 15 per cent to S$47.4 million. In the first nine months of this … Read more
Roxy-Pacific posts higher earnings
Roxy-Pacific Holdings posted a 239 per cent year-on-year increase in Q3 net profit to S$8.7 million on the back of a 78 per cent increase in revenue to S$34.9 million. In the first nine months of this year, Roxy-Pacific’s bottomline leapt 112 per cent to S$21.8 million. Revenue rose 61 per cent to $100 million. … Read more
Price fall ‘unlikely to dent economy’
Sector’s downturn manageable, says Citibank report PRIVATE home prices are on a downslide, but their decline is unlikely to have a major impact on the economy, according to a new report by Citibank. More than 80 per cent of Singaporeans live in public housing anyway, which is still on a price uptrend, it said. HDB … Read more
Falling home prices may cut GDP growth
However, analysts continue to see strong demand for HDB flats A 10-15 per cent fall in overall housing prices could shave 0.4 to 0.6 of a percentage point off annual GDP growth due to lower construction investments alone, according to Citigroup. Using information from four previous studies, Citi analyst Kit Wei Zheng concluded that a … Read more
Analysts keen to cast CapitaLand as white knight
There is also talk that Temasek could take stake CapitaLand is trying hard to play down expectations but in the eyes of some analysts, it has emerged as the frontrunner in the race to become Las Vegas Sands’ (LVS) white knight. The fact that CapitaLand had participated in the Request for Proposal for both integrated … Read more
Construction-related claims on the rise
Contentious litigation also expected to rise in tandem THE bottleneck of development projects, coupled with the slowdown in the economy, may lead to a rise in construction-related claims, say some construction cost consultants. Contentious litigation is likely to rise in tandem. Already, one firm – US-based Hill International – says it has seen a 30 … Read more
Goldman prunes property-linked jobs here
Some have been offered positions elsewhere in group ABOUT a dozen jobs in Goldman Sachs’ real estate-related operations in Singapore were lost under a global downsizing involving some 3,200 employees at the US bank last week. BT understands the bulk of the positions cut here were from the real estate principal investment team, which looks … Read more
