Singapore Real Estate

Q1 mortgagee sale listings close to 2008 crisis level

Mortgagee sale listings in the first quarter continued at elevated levels last seen during the global financial crisis, according to a Colliers International report out yesterday. A total of 70 mortgagee listings were made in the three months, the same as the fourth quarter of 2015, and up 25 per cent from a year back. This was comparable with 71 listings in the second quarter of 2008.

Bukit Batok commercial, residential site up for sale

A commercial and residential site at Bukit Batok West Avenue 6 has been launched for sale under the Confirmed List of the First Half 2016 Government Land Sales Programme. The site can potentially yield about 425 homes and a maximum gross floor area of 6,000 sqm for commercial use, the Urban Redevelopment Authority (URA) said on Wednesday (Mar 30).

No buyers for bankrupt trader's bungalow

One man's misfortune might be another man's opportunity. But no one succeeded in seizing the chance to buy the freehold bungalow at 85 Branksome Road, owned by the recently bankrupted managing director of spice trader Pars Ram Brothers. The property was put up for sale by the lender on Wednesday at DTZ's auction, but it failed to find a buyer despite a healthy turnout.

Tycoon ceases S'pore action against Concord

Singapore tycoon Oei Hong Leong has discontinued his Singapore legal action against Canadian developer Concord Pacific Acquisitions over a disputed plot of prime land on the waterfront in downtown Vancouver. In a statement, Mr Oei maintained that since the heads of agreement he signed with Terry Hui, president and chief executive of Concord Pacific Group, is governed by Singapore law, Singapore should be the appropriate forum.

Bukit Batok West mixed-use site expected to draw some interest

The 99-year commercial and residential site at Bukit Batok West Avenue 6 should receive some interest, say market watchers, despite its distance from the nearest MRT stations and cool property sentiment. The fact that it is a mixed development and that the area is earmarked to be progressively developed will serve to draw in developers, market watchers.

More construction firms to adopt new technology to curb pollution

More construction companies are set to adopt a new technology to curb pollution and cut down on manpower costs. By end-2017, 800 construction sites are expected to use a system to check for silt discharged into public drains. This is estimated to bring about 100,000 man-hour savings per year for the companies.

Al-Futtaim to close 10 or more stores in S'pore

Faced with a challenging retail environment, the Al-Futtaim group will continue to close stores in Singapore, but expand its footprint elsewhere in promising Asian markets. The group, which owns Robinsons, will shutter at least ten stores this year as it restructures its bleeding Singapore operations. This comes after it announced a number of closures last year, including its Marks & Spencer (M&S) outlet at Centrepoint, John Little at Marina Square and Tiong Bahru Plaza, along with several other Royal Sporting House (RSH) outlets.

nex Serangoon to be site for SCDF’s operational exercise

Companies' Brief

Singapore retail and office Reits expected to be resilient: Fitch

While a challenging year lies ahead for Singapore retail and office real estate investment trusts (Reits) with rising supply and weak demand, both sectors' credit profiles are expected to be largely unaffected, said credit rating agency Fitch. For the nine retail Reits, various factors such as low leverage levels, robust interest coverage, and manageable debt and lease contract maturities in the near term put them in good stead, said analyst Hasira de Silva in a report on Wednesday.

Global Economy & Global Real Estate

Plugging Asia's $11 trillion infrastructure gap

China's future challenge for the world economy

Banyan Tree eyes projects in Malaysian secondary cities

Turkey's indebted tourism industry hit hard by terror attacks

Evergrande shares fall as developer piles on debt to expand

US 20-city gauge shows home prices continue to rise in January

Starwood's losing bidder may find consolation in European sector