Singapore-listed property counters down 61% year-to-date
Singapore-listed property counters have been massively sold down in recent weeks. They are underperforming the benchmark STI, with losses of about 61 per cent year-to-date. With the outlook for the sector still cloudy, analysts say they would prefer to remain cautious on these property stocks for the year ahead. Weak new home sales in Singapore … Read more
S’pore is 12th most expensive city in Asia
Singapore is the 12th most expensive city in Asia, according to a global survey on cost of living by international human resource company ECA International. The country jumped 27 places, and is one of Asia’s biggest movers. Hong Kong was ranked 6th, while Tokyo took the top spot. For the first time, Beijing overtook Hong … Read more
No new sites for MND’s H1 2009 Govt Land Sales Programme
Ministry of National Development (MND) has decided not to add any new sites to the Government Land Sales (GLS) Programme for first half 2009. The H1 2009 slate – comprising entirely reserve list sites, as previously announced – will have a total of 38 sites. These comprise 37 plots that are being carried over from … Read more
No new sites added to land sales programme for first half of 2009
The Singapore government will not be adding any new sites to its land sale programme for the first half of next year. The National Development Ministry (MND) says this is because the global economic outlook remains weak in 2009. This is expected to have an impact on Singapore’s economy and property market. MND released its … Read more
Half of Marina Bay Sands retail space taken up
Singapore’s Marina Bay Sands integrated resort will unveil details of plans for its retail space after the Chinese New Year in January next year. Recent reports said its parent company, Las Vegas Sands, is facing financial difficulties. But the Singapore firm remains confident about prospects for its retail business. The S$5.4-billion Marina Bay Sands project … Read more
Bella Ville @ Siak Kew Ave
There is a sparkle in the air at Bella Ville. Enjoy special moments in one of our 6 clustered bungalows or 4 semi-detached homes where languid days and nights roll by patios and balconies under blue, blue skies. Location: Siak Kew Ave (District 13) Type of Development: Cluster Bungalow and Semi Detach Tenure: Freehold Total … Read more
Life after DPS won’t be crippling for developers
Study shows they can weather even 20% default rate by buyers under scheme A NEW report, which looks at the potential impact if buyers who bought homes under the deferred payment scheme (DPS) choose to walk away from their deals, concludes that developers are not likely to be too badly hit even under a 20 … Read more
Developers head into crisis with more cash
Gearing improves as developers pare borrowings, increase cash held from divestments Developers have entered the latest slump in much better shape than they were in during the last property downturn in 2001, a comparison of their cash positions and debt-to-equity ratios then and now shows. In fact, between the second and third quarters this year, … Read more
Thakral signs MOU with Aussie developer
Proposed A$117.5m investments part of move to become a property player AS PART of its bid to reposition itself as a pan-Asian property player, consumer electronics distributor Thakral Corporation has signed a memorandum of understanding (MOU) with an Australian developer for investments totalling up to A$117.5 million (S$115 million). The proposed transactions with Australian-listed Payce … Read more
Citi axes Asia property investment banking team
Citigroup fired most employees at its real estate investment banking team in Asia after slumping property prices stifled share sales and acquisitions in the industry, three people familiar with the matter told Bloomberg News. The New York-based bank dismissed at least five people two weeks ago, the people said, declining to be identified because they … Read more
