Developer sales perk up with new launches
Launch momentum may continue; price becomes key factor to move sales The launch of new developments helped pull up developer sales to 192 units in November, up from just 112 units in October. The number of units launched by developers increased from 159 units in October to 382 units in November. Urban Redevelopment Authority’s (URA) … Read more
New private home sales ‘could fall to 18-year low’
Many of last month’s 192 sales were made at just five developments ONLY 192 new private homes were sold last month, sparking concerns that total sales this year could plunge to levels not seen since 1990. CBRE Research tips a total sales figure of around 4,300 units – a striking plunge from the boom last … Read more
Low Keng Huat Q3 profit trebles
PROPERTY and hospitality group Low Keng Huat (Singapore) yesterday reported a net profit of $12.95 million for the third quarter ended Oct 31, 2008 – more than treble the $3.75 million for the previous corresponding quarter. This drove earnings per share for the quarter to 1.75 cents, up from 0.51 cents in the year-ago period. … Read more
Legoland M’sia seen tapping govt loan
THE Malaysian government is likely to be tapped for a loan to kick-start the development of the proposed Legoland theme park in south Johor in view of the current credit crunch which has made funding tougher and more expensive to obtain. A senior government official told BT that the joint venture behind Legoland Malaysia was … Read more
S’pore property firms make their mark
KAZAKHSTAN might not be very high up on the list of places for Singaporean property companies to venture into, but some home-grown players in the real estate field – including Jurong International, Surbana Corporation, and CapitaLand and its subsidiary The Ascott Group – have made their mark on the country’s landscape. ‘As the ninth-largest country … Read more
US property recovery to start by spring
Mogul Sam Zell also sees demand for houses rising soon A revival in the US real estate market, key to a recovery in the world economy, should begin by next spring, property mogul Sam Zell told an Israeli business conference on Sunday. ‘I believe that in a country that continues to grow and where the … Read more
Debate over hillslope project revived
KUALA LUMPUR: When retired government servant Peter Raiappan bought his home in a middle-class suburb in 1970, the hillslope overlooking his backyard was filled with trees. Today, the trees are gone and the slope in the Medan Damansara estate in Kuala Lumpur is being turned into a bungalow retreat for the rich. ‘When we bought … Read more
Developer’s profits up 245% despite gloom
DEVELOPER Low Keng Huat has defied the gloom in corporate Singapore by reporting that its third-quarter net profit surged 245 per cent to $13 million. Revenue for the three months ended Oct 31 nearly doubled to $52.2 million from $26.4 million last year, the company announced yesterday. The nine-month numbers were equally impressive, with net … Read more
Private residential launches on the up …
… as prices of high-end private properties move down PRIVATE home launches and sales were up last month after a dismal October. The number of private residential units launched more than doubled from October’s 159 to 382, and units sold increased from 118 to 192, according to the data released by the Urban Redevelopment Authority … Read more
Just leave me alone!
WILL I ever get to live in peace? My condominium’s third sales committee disbanded a few months ago. We thought we had seen the last of them due to the tough economic times. But I received a new circular in my mailbox last week, saying yet another sales committee wants to go en bloc. Just … Read more
