The Laurels @ Cairnhill Road
Location: 38 & 40 Cairnhill Road (District 9) Tenure: Freehold Expected Completion: 2014 Site Area: 78,047sqft Total Units: 229 (2 blocks, 20 storeys) Unit Types: 1 bedroom ~ 549sqft, 667sqft, 721sqft 2 bedroom ~ 883sqft, 1001sqft, 1345sqft 3 bedroom ~ 1281sqft, 1302sqft, 1313sqft, 1765sqft, 1927sqft 4 bedroom ~ 1819sqft, 2573sqft Penthouse ~ 3853sqft, 4768sqft, 4833sqft … Read more
Private home launches in Dec 2008 at record low
Islandwide launches of new private homes in December 2008 slumped to a record low since the Urban Redevelopment Authority (URA) started releasing the monthly figures in June 2007. Developers placed just 157 units for sale last month, down by 59 per cent from November. Analysts said there has been softening demand for homes. But the … Read more
Gokongwei raises stake in UIC
BIGGEST shareholder John Gokongwei Jr increased his stake in United Industrial Corp (UIC) which is under a takeover from rival Wee Cho Yaw on Tuesday in a filing on Thursday. Through Telegraph Developments, Mr Gokongwei bought 800,000 UIC shares on 13 January 2009 at an average $1.0844 a share, raising his stake to 35.156 per … Read more
Allgreen withdraws bid for Tangshan, China project
Allgreen Properties, together with subsidiaries of Kerry Properties, Shangri-La Asia and Kuok Brothers have announced that they have entered into an agreement with the relevant government authorities in China to withdraw its bid for development sites in Tangshan, Hebei citing ‘current economic conditions’ as the reason. It said the penalty payable for the withdrawal and … Read more
A-Reit’s Q309 net income up 21%
Ascendas Reit (A-Reit) has announced net property income increased by 20.9 per cent to $74 million for the third quarter FY2008/09 compared to a year ago. This was attributed to organical growth of 38.2 per cent through rental rate increases. Distribution per unit (DPU) for the three months ended 31 December 2008 was 4.05 cents … Read more
New bridge linking mainland S’pore to Sentosa to open later this year
A new bridge linking mainland Singapore to Resorts World at Sentosa is expected to open later this year. Resorts World said it should receive traffic ahead of its grand opening. The 710-metre bridge is expected to serve some 15 million visitors a year once the resort is fully operational. After completion, the traffic flow to … Read more
Marina Bay to have dedicated police centre
The Singapore Police Force is setting up a dedicated security centre at Marina Bay to manage the challenges expected once the integrated resort there has been completed. The new Marina Bay Neighbourhood Police Centre (NPC) is expected to have 180 officers, three times the number of staff for each existing centre. The other 32 existing … Read more
HK’s 2008 new home sales lowest in 12 years
Hong Kong’s sales of new private homes fell to the lowest level since 1996 last year, as high prices and the slowing economy deterred potential buyers, according to Centaline Property Agency Ltd. The number of new non-government- built residential units changing hands last year fell 47 per cent to 9,955, Wong Leung-Sing, an associate director … Read more
UOL-UIC takeover will be long drawn-out chess game: Goldman
UOL Group’s S$1.20/share takeover offer for United Industrial Corp. will be ‘a long, drawn-out chess game’ for control between families of John Gokongwei, Wee Cho Yaw, says Goldman Sachs. Mr Wee is chairman of UOL, UIC while Mr Gokongwei is UIC’s deputy chairman, biggest shareholder with 35% stake, which broker says will pose significant hurdle … Read more
Cheer for small builders
Mah provides sneak peek of revived projects to be announced on Budget Day MORE deals up for grabs, less money required upfront and subsidised courses to groom local talent these are some of the initiatives that small-time construction firms can keep their eyes peeled for come Budget Day next week. The sneak peek, provided yesterday … Read more
