S’pore property investment sales fall 70% on-year
The fallout from the US sub-prime crisis has filtered down to the property market in Singapore. Property consultancy CB Richard Ellis (CBRE) says total investment sales in Singapore properties fell 70 per cent from 2007, to S$17.83 billion this year. CBRE says one year on, the crisis in the US has made investors of Singapore … Read more
HDB brings forward some projects to help smaller contractors
Two public housing upgrading programmes will be brought forward with other government projects in efforts to increase spending and stimulate the Singapore economy. Singapore previously deferred S$4.7 billion worth of public sector projects due to high construction costs. The Ministry of National Development said now is a good time to do so with material costs … Read more
4-room flat sold for record $495,000
Buyers drawn by sea view NEWSPAPER vendor Goh Wee Kiat, 48, refused to budge on his price when he put his four-room Housing Board (HDB) flat up for sale six months ago despite the softening property market. His persistence reaped dividends when the flat, in Marine Parade, was sold for a staggering $495,000 in late … Read more
Property investment sales slow to a trickle
Players wary of big bang deals amid weaker sentiment, tighter financing THE weak property market sentiment and tight financing have combined to compress the total investment sales of Singapore real estate to just $17.8 billion, year-to-date. This is a third of the record $54 billion achieved for the whole of last year, according to CB … Read more
UE’s Park Central @ AMK more than 70% sold
UNITED Engineers’ (UE) Park Central @ AMK, which was launched in July, is now more than 70 per cent sold at an average price of $500 psf. UE managing director of integrated facility management and property development business David Liew said that all the four-bedroom and penthouse units in the 578-unit development have been sold … Read more
Condo-style HDB flats losing allure
Falling prices in private home market chipping away at demand for DBSS flats PRICEY condo-style HDB flats have not been spared in the property downturn, going by what has been left for sale at Park Central @ AMK. While over 70 per cent of the project’s 578 units have been sold, the larger five-room units … Read more
Capella Singapore mixes the old with the new
THE iconic British architect Norman Foster is perhaps associated more with designing high-tech buildings (think Hongkong and Shanghai Bank in Hong Kong, Beijing’s new airport terminal or even Singapore’s Supreme Court) than restoring old ones, but he is also responsible for some of the most masterful integration of old and new architecture in the world … Read more
Freight Links sues Reit over failed property deal
FREIGHT Links Express Holdings announced yesterday that it has commenced legal action against a private real estate investment trust, AMP Capital Business Space Reit, for not going through with the proposed purchase of an investment property at 30/32 Tuas Avenue 8. The property is owned by Freight Links’ subsidiary Freight Links Fabpark (FLF). Freight Links … Read more
Construction industry in better shape now
THE Singapore Contractors Association refers to the article, ‘Construction firms face ‘collapse risk” (Nov 28). The association does not agree with the interpretation of data provided by DP Information Group and the statement by DP managing director Chen Yew Nah. The banks enjoy a good working relationship with construction firms, and have supported construction firms … Read more
Is Pasir Panjang hub still viable?
HDB commissions market survey to decide fate of struggling wholesale centre THE fate of the Pasir Panjang Wholesale Centre hangs in the balance. With more businesses importing directly from overseas suppliers, the 15ha site faces the threat of being bypassed as a wholesale centre, according to an HDB tender document on the government business website. … Read more
