20 bids for former Mee Toh School site
The tender for the former Mee Toh School on No.375 Race Course Road has attracted an overwhelming 20 bids. The Singapore Land Authority (SLA) put the land up for tender under the “Ideas Tender Scheme” last month. Under the scheme, bidders are allowed to submit alternative bids for innovative uses for the property. The 20 … Read more
Lian Beng reports 9% rise in H1 profit to S$8.8m
Singapore-listed construction firm Lian Beng has posted a nine per cent increase in its first half net profit. Net earnings for the six months ended November rose to S$8.8 million from S$8.1 million a year ago. This was on the back of a 42 per cent jump in revenues to S$151 million on progress made … Read more
Property investors expected to spend more this year: report
US seen as country providing the most stable and secure real estate Foreign investors in real estate expect to spend much more in 2009 than they did in 2008, according to an annual report tracking institutional investor interest. Both foreign lenders and equity investors plan to increase investment globally and in the United States, their … Read more
Pay-interest-only deal for cash-short home owners
DBS scheme eases borrowers’ burden for six to 18 months HOME owners with mortgages at DBS Bank can ease some of their financial burden by opting to pay only the interest on their loans for periods of up to 18 months. The bank sees the scheme as a way of helping cash-strapped borrowers who are … Read more
Sobering times for New York property market
No one knows the giddy highs of New York’s property market – and today’s groaning lows – better than hot dog vendor Pasang Sherpa. In mid-2008 he paid the city a staggering US$642,000 for two sidewalk spots outside the Metropolitan Museum of Art, expecting sole control over the best vending turf in New York. But … Read more
Construction costs poised on a downtrend
Construction costs may have shrunk in Q4 2008 and are likely to be still on the way down, says a top consultancy firm. Rider Levett Bucknall (RLB) says preliminary figures show its tender price index (TPI) may have fallen 6 to 8 per cent quarter on quarter in Q4. The drop is significant because in … Read more
US housing market still offers hidden value
But buyers won’t return until they can build wealth through home ownership If you were searching for pockets of optimism in the US housing market, where would you look? Easy guesses would be to avoid Detroit, Cleveland or any cities with domestic automobile plants or troubled manufacturers. Then there are the foreclosure gulches of Central … Read more
Various property tax reliefs available
WE REFER to the letter, ‘Property prices down but not property taxes’ (Jan 1), by Mr David Goh, who asked why the Inland Revenue Authority of Singapore (Iras) did not reduce the property tax on residential properties for 2009, when rentals are expected to come down this year. We would like to clarify that Annual … Read more
More studio flats for the elderly coming up
HDB cites good demand for smaller, affordable units as S’poreans age THE Housing Board will continue building 30-year lease studio apartments reserved for seniors, as such compact and affordable units have proved popular with older Singaporeans. The HDB will launch ‘a few hundred’ studio apartments each year in different estates, and not just in mature … Read more
Berjaya eyes foreign buyers for Ritz-Carlton project
Berjaya Corporation Bhd (BCorp) expects RM2 billion (S$831.68 million) in gross development value (GDV) from its Ritz-Carlton Residences Kuala Lumpur project. Located in Kuala Lumpur’s ‘Golden Triangle’, the 48-storey twin towers project has 300 luxury apartment residences of 292 standard units and eight penthouses. It is slated for completion in 2011. The property is expected … Read more
