URA gazettes Singapore’s Master Plan 2008
Singapore’s Urban Redevelopment Authority (URA) has gazetted its Master Plan 2008. It is a statutory land use plan that guides physical development of the country for the next 10 to 15 years. Some 200,000 people visited the exhibition of the Draft Master Plan 2008 over the past six months. And as part of public consultation … Read more
Tokyo ranked as Asia-Pacific’s top property investment city
Tokyo has been ranked as the top property investment city in the Asia-Pacific, according to a survey by Washington-based Urban Land Institute and PricewaterhouseCoopers. But while investors see plenty of opportunities in the regional property sector, financing may prove to be a key challenge in the coming year. Together with Tokyo, Singapore, Hong Kong, Bangalore … Read more
BCA initiates plan to strengthen local construction sector
The Building and Construction Authority (BCA) is launching initiatives to attract locals to join the construction sector and to strengthen skills at all levels of the sector’s workforce. These initiatives are part of a masterplan that is being drafted to build a competent, productive and progressive labour force for the local construction industry. Announcing the … Read more
HSBC buys back HQ, earning US$368 mln
British banking group HSBC said on Friday it had made a profit of about 250 million pounds (US$368 million) after buying back its London headquarters 18 months after selling it. ‘HSBC and (Spanish property group) Metrovacesa have agreed that HSBC will secure the title of its global headquarters at 8 Canada Square in London, superseding … Read more
Adding quality to condo life
High-end properties are including lifestyle features such as art galleries, private dining rooms and party pads on their premises, report AUDREY PHOON and AMANDA DE GUZMAN OLYMPIC-SIZED pools tiled in the finest Italian marble and gyms filled with state-of-the-art equipment may yet be an unheard-of extravagance for some, but in the world of ultra-luxe condominiums … Read more
Shadow office space grabs the spotlight
Companies trying to sub-let excess space as they streamline operations AS BANKS and other organisations look at scaling back their operations, some are trying to sub-let office space that they no longer need. Some 200,000 sq ft of such space may already be on the market, although part of it may be available only next … Read more
Government offers fewer land sales sites
The move will help ease fears of a supply glut next year NO NEW sites have been added to the Government’s land sales programme for the first half of next year, an anticipated move designed to tame fears of a supply glut in an already weak market. Only sites on the reserve list will be … Read more
Distressed-debt managers look to developers
Asian distressed-debt managers expect real estate developers and companies in China, Indonesia and Australia to provide them with the most investment opportunities next year, an industry survey shows. Economic recession, slowing consumer spending and shrinking bank lending indicate that a growing number of Asia- Pacific companies will face difficulty in refinancing debt next year, according … Read more
Dubai rethinks huge ‘city within city’ plan
Developer cites change in investor demands as reason for the retreat A newly created Dubai developer that unveiled a US$95 billion real estate project just two months ago is reviewing its plans in the light of the economic downturn. The retreat comes as a widely watched report showed property prices in the fast-growing Gulf city- … Read more
Eyes on demand as govt keeps land supply in check
Analysts hope for measures to boost buying, such as stamp duty rebates THE government yesterday kept the lid on the supply of state land for development. All eyes in the market now are on what measures the state will come up with to stimulate property demand. The Ministry of National Development (MND) has decided not … Read more
