CapitaLand sells half-stake in Shanghai high-tech office block to Citic
CapitaLand on Wednesday announced that it was selling a half-stake in a company that owns an office block currently under construction in a high-tech park in Shanghai to Citic Trust for a cash consideration of 173.1 million yuan (S$38.2 million). Following the sale, Capitaland’s interest in the company, Caike Property, is reduced to 50 per … Read more
Quiet auction market seen perking up next year
Consultants expect spike in mortgagee sales as downturn takes its toll The property auction market was less active this year but things are expected to hot up in 2009 as more owners struggle to hang on to their properties. Knight Frank figures show that the total number of properties put up for auction this year … Read more
Blow to serviced apartment owners
SHOULD the operator of serviced apartments be considered a landlord or a businessman supplying services such as lodgings, laundry and security? The High Court answered this last week when it was decided that the operator should be treated as a landlord, who makes money from renting the apartments. The decision has great implications for the … Read more
En-bloc sales: Review law on sales committees
IT APPEARS that economic and recession concerns have not decreased the appetite of some owners keen to push through collective sales of their estates. There are a number of estates, such as mine, that started the sales process but applied the brakes just before collecting signatures for the collective sale agreement. Collective sale committees know … Read more
Risk profiling for homebuyers?
Such checks would minimise impact of sudden economic downturn on investors MANY Singaporeans who bought properties during the boom years have since been caught up by the sudden financial turmoil and found themselves in a bind as the property market has taken an about-turn and some banks have frozen lending. Such investors stand to lose … Read more
Gillman Heights en bloc dispute goes to Court of Appeal
DESPITE the recession, the saga over the Gillman Heights en bloc sale continues, as some minority owners from the 608-unit development off Alexandra Road take their fight to the highest court to block the sale. The 10 minority owners have filed for a hearing with the Court of Appeal in a bid to overturn the … Read more
E3 in row with landlord, major owner over rent
CATALIST-listed E3 Holdings was locked out of its offices in Ubi Avenue 4 yesterday after a dispute with its landlord and major shareholder over rent. The police were called at 9.15am to its premises at Armorcoat Technologies building to settle a dispute, a police spokesman confirmed. Armorcoat Technologies is E3′s single largest shareholder with 7.24 … Read more
