Luxury residential sales market moved at slower pace last year
2008 saw a drastic fall in sales of luxury apartments in Singapore. Property consultancy CB Richard Ellis said 1,096 caveats were lodged in 2008 – a fifth of the sales volume in 2007. In 2007, the average launch price of luxury projects ranged from S$2,000 to S$4,000 per square foot. But by the end of … Read more
More REITs, developers expected to put projects on hold
Shares of CapitaCommercial Trust (CCT) rallied to a two-month high on Wednesday following an announcement that it would refinance as much as S$580 million of mortgage-backed securities. The counter was up 7 per cent to S$1.00. Analysts are also cheering the company’s decision to scrap a billion-dollar redevelopment plan in Singapore’s business district as more … Read more
Fewer Good Class Bungalows sold last year
A total 49 Good Class Bungalows changed hands in Singapore for a total $785 million (US$532 million) last year, down from the 87 transactions worth $1.15 billion in 2007 and 119 deals at $1.23 billion in 2006, according to latest figures from property consultancy CB Richard Ellis. On a dollar per square foot (psf) value … Read more
CapitaLand declines to comment on rights issue rumours
CapitaLand Limited on Wednesday said it will not comment on market rumour and queries that the property group is planning a rights issue. ‘In response to various media and analyst queries that CapitaLand is planning a rights issue, CapitaLand wishes to state that we will not comment on such market rumour or speculation,’ it said. … Read more
Research house upbeat on property stocks
It cites falling interest rates and possible favourable Budget measures INVESTORS can re-visit property stocks as falling interest rates and possible Budget measures improve the operating environment for real estate companies this year, said Kim Eng Research in a report yesterday. The report came on a day when property stocks retreated after a rally in … Read more
Mapletree Business City snaps up big-name tenants
HSBC, Unilever, SAP and Amex sign leases before park’s completion in 2010 The business park space at Mapletree Business City coming up in the Alexandra Road area has been substantially pre-leased ahead of its expected completion in second half 2010. Developer Mapletree Investments, a fully-owned unit of Temasek Holdings, is said to have secured big-name … Read more
It’s not arbitary
Court said temple’s acquisition based on planning factors AN APPEAL by three devotees to get back the site of their 66-year-old temple off Bartley Road has been dismissed. In an 18-page judgment released on Monday, the Court of Appeal rejected the trio’s contention that the Government’s acquisition of the land had violated the Republic’s Constitution. … Read more
Ex-committee chairman charged
Businessman accused of vandalising property at East Coast estate WHEN the possibility of a collective sale for Laguna Park was announced in December 2007, some residents held back, hoping this would drive up the estate’s value. But things turned ugly later at the East Coast area condominium, which was hit by a spate of vandalism … Read more
Market Street car park to stay
CAPITACOMMERCIAL Trust (CCT) has scrapped plans to redevelop the Market Street car park into a grade A office building, which could have cost up to $1.5 billion. “The manager, after taking into consideration the uncertain market outlook, tight credit conditions, high redevelopment cost and significant size of the project, has decided to abort the project … Read more
En-bloc row official on mischief rap
He is accused of stuffing glue into padlocks and keyholes of residents THE former chairman of the Laguna Park management committee was charged yesterday with mischief over incidents during the housing estate’s acrimonious drive to secure a collective sale. Lee Kok Leong, a 62-year-old businessman, allegedly put glue into the padlock and keyholes in the … Read more
