Conservation of Katong/Joo Chiat area
100 more buildings THE Urban Redevelopment Authority (URA) on Friday announced that another 100 buildings in the Joo Chiat and Katong area will be conserved to keep its charm and character. Among the 100 are three bungalows, including the former Grand Hotel at Still Road South, two churches, St Hilda’s Church and Bethesda (Katong) Church … Read more
Moody’s continues A-Reit review for possible downgrade
Moody’s Investors Service is continuing its review for possible downgrade of the A3 corporate family rating of Ascendas Real Estate Investment Trust (‘A-REIT’). ‘The continuation of the review follows A-REIT’s announced a private placement and an underwritten non-renounceable preferential rights issuance totaling approximately S$400 million,’ says Kathleen Lee, a Moody’s VP/Senior Analyst, adding, ‘A-REIT plans … Read more
GuocoLand in Vietnam mall JV
GuocoLand Limited has entered into a joint venture agreement with ECC VNPI through its wholly-owned subsidiary, GuocoLand Vietnam (GLV), to establish a joint venture company that will develop a retail mall in the Binh Duong Province. ECC VNPI is a wholly owned subsidiary of European Construction Consortium, a Netherlands-based real estate development and investment group. … Read more
Developer sales plumb new depths
Home sales hit record lows in 2008 but new launches are on the cards The year gone by was one to forget for developers as they managed to sell just 4,351 homes in 2008, representing the lowest figure in at least 10 years – diving beyond the previous troughs of 5,156 and 5,520 units in … Read more
Private home launches at record low
THE grey clouds hovering over the private property market here have gotten even darker. Islandwide launches of new private homes last month slumped to a record low since the Urban Redevelopment Authority (URA) started releasing the monthly data in June 2007. Developers placed just 157 units for sale last month, down nearly60 per cent from … Read more
Private home sales hit new low
December sales of 131 new units cap the worst year since 1990 JUST 131 new private homes were sold last month, down from 193 in November, capping the worst year for new sales in Singapore since 1990. There were only 4,287 homes sold last year – a striking plunge from the boom year of 2007 … Read more
2,000 flats being readied
MORE than 2,000 rental flats will be added to the supply of public housing early next year to help the needy. The move was announced in Parliament by National Development Minister Mah Bow Tan in November 2006. The first batch of converted flats – comprising 180 one- and two-room units in Block 852, Woodlands Street … Read more
Conned into renting same house
Malaysian couple shell out $4,300 Japanese expat coughs up $6,000 Conman duped would-be tenants and agents by posing as property’s manager A MALAYSIAN couple and a Japanese expatriate have fallen prey to a rental scam run by a conman who took $10,300 from them – then went into hiding. Neither party realised they had paid … Read more
Owner told to pay $382k agent’s fee
She withheld payment as she blamed agent for not telling her that buyer was neighbour A JUDGE has ordered the owner of a $25.5 million house to pay the commission that she had withheld from an property agent for alleged wrongful conduct. Madam Lam Cheng Yee, who owned the unit at 32H Nassim Road, had … Read more
A-Reit private placement raises $299m
ASCENDAS Reit (A-Reit), which is looking to raise $400 million through an equity fund-raising exercise, said in a late night announcement yesterday that the private placement tranche has been fully subscribed. The private placement of 258 million units at $1.16 each means that a total of $299 million has already been raised. Earlier in the … Read more
