10,450 private residential units sold under DPS still uncompleted
10,450 private homes sold under the Deferred Payment Scheme are still uncompleted as of end November. This is according to figures released by the Urban Redevelopment Authority for the first time. The report comes amid concerns that a large number of uncompleted homes bought under the scheme may be sold at distressed prices as the … Read more
Nearly 500 applications received for Dew Spring@Yishun flats
Close to 500 applications have been received for the public flats to be built at Dew Spring@Yishun. The Housing and Development Board (HDB) launched the 864-unit project on Thursday. Four-room flats were the most popular among home buyers. There were 393 applications for 504 units, while three-room flats had 81 applications so far. One home … Read more
URA releases data of private homes sold under DPS
Urban Redevelopment Authority (URA) on Friday released information of private homes sold under the Deferred Payment Scheme (DPS). A total 10,450 units in uncompleted projects were still under the DPS as at Nov 30, 2008. ‘This number may change over time as the developers may not extend the scheme to sub-purchasers when the original purchasers … Read more
Ascendas-Frasers Centrepoint JV clinches site in Changi Business Pk
A joint venture between Frasers Centrepoint and Ascendas has clinched a 60-year leasehold site next to Expo MRT Station on which they will build a retail, hotel and business park project. The 4.7-hectare site is located within Changi Business Park (CBP). The tender for the plot was launched in June this year. It was the … Read more
CapitaLand completes divestment of Morimoto Asset Management stake
CapitaLand Limited on Friday announced that CapitaLand Japan Kabushiki Kaisha (CJKK) on Dec 19 completed the sale of its entire 33.4 per cent stake in Morimoto Asset Management Co, Ltd. On Nov 27, CapitaLand had announced that CJKK, an indirect wholly-owned subsidiary, has accepted the offer from Daiwa House Industry Co, Ltd to buy CJKK’s … Read more
Construction sector in SE Asia, HK expected to contract by 16% in 2009
The construction sector in Southeast Asia and Hong Kong is expected to contract by 16 per cent next year, according to a report by regional construction information provider BCI Asia. BCI Asia predicts that in a worst-case scenario, the contraction could be up to 32 per cent. It released a preliminary four-year forecast for the … Read more
No-go yet for Kallang site; Stamford put on reserve list
URA needs more time to finalise plans; consultants cite market conditions THE Government has again postponed the release of new land – this time a hotel site in the Kallang River area – as the property market continues to flounder. However, a historic site in North Bridge Road – which contains Singapore’s first cinema Capitol … Read more
Sale of Kallang River hotel plot delayed
URA says release of the site will be deferred to June 2009 THE Urban Redevelopment Authority (URA) has deferred the release of a hotel site along Kallang River from this month to June 2009. The site was originally due to be made available for December 2008, as part of the government’s plans to transform the … Read more
Property auctions of $83.7m at 11-year low
WITH the last two property auctions for the year concluded this week, the final tally of the value of properties sold at auctions in 2008 is $83.7 million – the lowest in 11 years, according to Colliers International. This year’s figure is 79 per cent below last year’s number of $407.4 million and 38 per … Read more
Property auction sales at lowest point in 10 years
SINGAPORE’S auction market has slumped to its lowest point in more than 10 years in terms of the value of properties sold this year. But more mortgagee properties are expected to be sold under the hammer next year in the light of the weaker economy. Only $83.67 million worth of properties have been sold via … Read more
