CapitaCommercial drops on refinancing woes
Shares of CapitaCommercial Trust fell as much as 10.7 per cent on Monday after the property firm said it was pursing its refinancing needs with several financial institutions. CapitaCommercial was responding to a report from Reuters on Friday that it verbally mandated four banks to handle a $580 million (US$379 million) three-year bullet refinancing. ‘If … Read more
US existing home sales, prices fall in October
The pace of sales of existing homes in the United States fell 3.1 per cent in October to a 4.98 million-unit annual rate, while the median home price dropped to its lowest in more than four years, a National Association of Realtors (NAR) report showed on Monday. Economists polled by Reuters were expecting home resales … Read more
Int’l school offering US-based curriculum to open at Upper Serangoon Rd
A new international school offering a US-based curriculum will open its doors at the former Upper Serangoon Secondary School in September 2009. Cognita, a leading education group from the United Kingdom, plans to set up the Stamford American International School at the vacant school building after the Singapore Economic Development Board and the Singapore Land … Read more
Koon wins $11.04 mln contract
Koon Holdings Limited said its subsidiary, Koon Construction and Transport Co Pte Ltd, has been awarded a $11.04 million contract by the Housing and Development Board. The 18 month contract is for the restoration of shorelines along East Coast Park & Pasir Ris Park. The project is not expected to have any material financial impact … Read more
Italy’s top animation firm to set up S$25m global headquarters in S’pore
Italy’s top animation studio Rainbow S.p.A has chosen Singapore as the location for its S$25 million global headquarters of its online gaming division. It will develop interactive games for children based on its successful animated television series, Winx Club. Rainbow says this will generate hundreds of jobs in Singapore’s computer graphics and IT sectors, but … Read more
Hup Soon launches Bangkok condo
CATALIST-listed Hup Soon Global Corporation will launch its 52-unit luxury condominium project in downtown Bangkok this Friday. The distributor for automotive products and agriculture equipment said that The Surawongse will be sold at an average 120,000 baht (S$5,232) per square metre. Sizes of units range from 43 to 72 sq m. If all units are … Read more
Shophouses in Katong to become hotel
A ROW of nine pre-war shophouses, in the Peranakan enclave of Katong, are to be converted into a ‘character’ hotel aimed at leisure and business travellers. Construction of the $12 million hotel on East Coast Road will start early next year and end in 2010. Santa United International Holdings, a home-grown firm that started in … Read more
REAL ESTATE AGENTS: Downgraders, bargain hunters are main clients
THE real estate industry is keeping its head above water as a result of bargain hunters attracted to the falling prices and home owners downgrading to smaller, cheaper properties. The higher number of sales transactions has translated to better pickings for property agents. Major agencies contacted say they have had better sales for lower-end housing … Read more
MOVERS: Services in demand as expats leave or downgrade
AN INCREASE in real-estate transactions means lots of people are on the move. Add to this expatriates having their benefits reduced or withdrawn, and moving companies find their services in demand. A check with five movers revealed that some have been enjoying double the amount of business within Singapore since the downturn. Moving Star Express … Read more
