Singapore Property and Real Estate News Portal

THERE were some errors in our report, River Valley condo Luma relaunches with prices halved (BT, Nov 14). The condominium is located at River Valley Grove and not St Thomas Walk. The number of units sold earlier was not 10, but six. BT also understands that the developer, Novelty Group, purchased the site for around [...]

HONG KONG – Hong Kong is heading for a record HK$80 billion (US$10.3 billion) budget deficit for 2008/09 after offering tax concessions and handouts and as a weakening economy depresses public revenues, Deloitte forecast on Thursday. Analysts say Hong Kong’s economy is heading for recession within the next six months, after four years of robust [...]

Economic slowdown seen putting brakes on energy efficiency drive here GREEN development in the building space is likely to take a backseat among some organisations given the economic slowdown because the benefits are not tangible in the short-term, a building consultant said. This is despite it being the ‘most ideal time’ to invest in green [...]

Sim Lian Land puts in top bid of S$52m for Simei Road site Posted: 03 June 2008 1938 hrs SINGAPORE : Only two bids were received in the tender for a residential site at Simei Road, which is being launched under HDB’s Design, Build and Sell Scheme. Property developer Sim Lian Land put in the [...]

Pacific Star increases stake in Prime REIT to 50% Posted: 29 May 2008 2102 hrs SINGAPORE : Singapore-based real estate investment house Pacific Star Group has agreed to buy the 25 percent stake held by MEAG Munich Ergo Asset Management in Prime REIT Management Holdings. Prime REIT owns 100 percent of listed Macquarie Pacific Star [...]

Mapletree, China firm to build apartments, retail mall in Guangdong By Channel NewsAsia | Posted: 26 May 2008 2335 hrs SINGAPORE: Mapletree Investment, the real estate branch of Singapore investment firm Temasek, has signed an agreement with China’s Guangzhou Southern-Donald Technology to build seven blocks of high-end service apartments and a retail mall. Mapletree will [...]

Ho Bee’s Q1 net profit drops 62% to S$26m Posted: 08 May 2008 2027 hrs SINGAPORE: Property developer Ho Bee has reported a 62 percent drop in first quarter net profit to S$26 million. Its revenue also fell 62 percent to S$94 million. Ho Bee said this was mainly due to the lower recognition of [...]

Developers may get grants of up to S$1m when installing solar panels By Ng Baoying, Channel NewsAsia | Posted: 06 May 2008 2211 hrs SINGAPORE: The Economic Development Board (EDB) has unveiled more details of the Solar Capability Scheme, aimed at spurring demand for clean technology and building up expertise in the new industry. The [...]

Keppel Land enters joint venture with Sunsea Yacht Club By Channel NewsAsia | Posted: 30 April 2008 2105 hrs SINGAPORE: Keppel Land has entered into a joint venture with Sunsea Yacht Club to develop its first integrated residential cum marina lifestyle development in Zhongshan, Guangdong. Keppel Land will have an 80 per cent stake in [...]

CapitaLand completes compulsory acquisition of Ascott By Wong Siew Ying, Channel NewsAsia | Posted: 28 April 2008 2053 hrs SINGAPORE: Property developer CapitaLand has completed the compulsory acquisition of the Ascott Group, a serviced-apartments operator. From 28 April, Ascott becomes an indirect wholly-owned subsidiary of the company. It will be delisted from the Singapore Exchange [...]