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 [...]

ZURICH – Swiss bank UBS AG, under pressure at home to give up on hefty bonus schemes in the face of its poor performance, said on Monday it will introduce a more transparent pay system for top executives. The bank, which is struggling in the sub-prime crisis and whose shares slumped to a new all-time [...]

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 [...]

Property analysts say muted property market situation is temporary By Ng Baoying, Channel NewsAsia | Posted: 28 May 2008 2209 hrs SINGAPORE: Investors have been cautious about the property sector amid expectations that the muted residential property market will weaken further. However, some property consultants are taking a slightly more positive stance, saying that this [...]

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 [...]

Mandarin Gardens’ management panel steps down over enbloc disputes By Timothy Ouyang, Channel NewsAsia | Posted: 02 May 2008 2033 hrs SINGAPORE : Enbloc sales woes and unhappiness at Mandarin Gardens have left the condominium without a management committee for the past week. The previous committee refused to be re-nominated for elections at its Annual [...]

US home prices in steeper fall Posted: 29 April 2008 2320 hrs WASHINGTON : Home prices in major US cities slumped an average of 12.7 percent year-to-year in February, a survey showed on Tuesday in a sign of even deeper troubles for the ailing housing market. The Standard & Poor’s/Case-Shiller index of prices in 20 [...]

A hospital in Bukit Batok? By Sheralyn Tay, TODAY | Posted: 28 April 2008 1120 hrs SINGAPORE: The day could come when the northern part of Singapore is served by three hospitals and not just the upcoming Khoo Teck Puat hospital in Yishun. Hinting at this on Sunday at a community dialogue, Health Minister Khaw [...]

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 [...]