Koh Brothers wins S$582m contract to build Downtown Line 1
Construction and property group, Koh Brothers Group Ltd, has won a contract worth S$582 million from the Land Transport Authority (LTA) to build the Downtown Line 1 Bugis station and its associated tunnels. Koh Brothers said this is the single largest contract it has ever clinched. The 4.3-kilometre section of the Downtown Line 1 runs … Read more
Koh Brothers wins S$582 mln contract
Singapore construction firm Koh Brothers said on Tuesday it won a S$582 million (US$380.1 million) contract to build an underground metro station. The firm said the contract for the Bugis Station and associated tunnels from Singapore’s Land Transport Authority, won together with its French joint venture partner Soletanche Bachy, was the largest single contract the … Read more
Yongnam bags S$88 mln contract
Yongnam Holdings on Tuesday said that it has won a S$88 million contract for the construction of the Integrated Civic, Cultural, Retail and Entertainment Hub at Vista Xchange at one-north. The a 200-hectare project at Buona Vista is being jointly developed by CapitaLand and New Creation Church’s Rock Productions. The entire hub is expected to … Read more
Yongnam wins S$88m contract for retail, entertainment hub in one-north
Construction group Yongnam Holdings has won an S$88 million contract to build the Integrated Civic, Cultural, Retail and Entertainment Hub at one-north. The integrated hub is part of a 200-hectare development at Buona Vista known as Vista Xchange. The area aims to integrate living, working, relaxation and learning facilities when fully operational. Under the deal, … Read more
Lee Tat wins legal battle against Grange Heights residents
A dispute between property developer Lee Tat Development and Grange Heights residents over a strip of land came to an end on Tuesday as the Court of Appeal ruled in favour of Lee Tat, overturning an earlier appeal decision. It is extremely rare for the Court of Appeal to re-look a case that it has … Read more
SLA says demand for land to build schools remains healthy
The demand for land to build schools has remained healthy, with seven bids received for a piece of land at Upper Bukit Timah. The Singapore Land Authority (SLA) said that of the seven bids for the former Seh Chuan High School, four were fairly strong bids above the guide rent of S$73,100 per month. The … Read more
M’sians again in top spot as foreign home buyers
For the second consecutive quarter, Malaysians continued to be the largest group of foreign buyers (including permanent residents or PRs) of private homes here. They bought 201 private homes, or accounted for 22 per cent of the total 903 caveats lodged for private home purchases by foreigners in Q3, a DTZ caveats analysis shows. Indonesians … Read more
Property market now shows classic signs of downturn
Analysis of Q3 caveats by DTZ points to new trends relating to subsales, foreign buying, HDB upgraders THREE classic signs of a Singapore property downturn have emerged in the third quarter – a slide in subsales and foreign buying, but a bigger share of HDB upgraders in the private home buying pie. Property consultancy DTZ’s … Read more
Property groups find asset sales tough going
A SERIES of aborted divestments by Singapore property groups lately highlights the challenges of relying on asset sales in the current environment. Last weekend’s edition of BT featured two stories on the same page, on Singapore’s two biggest listed property groups – CapitaLand and City Developments Ltd (CDL). Both are in the same boat, with … Read more
Property no longer a safe asset
Real estate used to be the ultimate all- weather asset class, with low correlation to volatile stocks and unexciting bonds. But in today’s debt-starved market, property is not the safe haven it once was. Trusted property market tenets have been deformed by an acute shortage of debt and a worldwide souring in economic fundamentals, leaving … Read more
