Singapore Real Estate Kim Chuan Drive site sold for S$40m A freehold industrial site at Kim Chuan Drive has been transacted at S$40 million. The price works out to S$460 per square foot per plot ratio (psf ppr), without factoring in a small development charge that the buyer will have to pay to the state before redeveloping the site, said William Gan, founder of William Gan Realty, which brokered the sale. http://www.businesstimes.com.sg/real-estate/kim-chuan-drive-site-sold-for-s40m Jump in property buyers from China, Malaysia in Q2 Political and economic uncertainty back home is the likely reason behind the increase in the number of Malaysians and mainland Chinese who bought property here in the second quarter of this year. Malaysians snapped up 248 private units, 53 per cent more than in the first three months of the year, while 234 homes were bought by buyers from China, up 37 per cent, said real estate services firm DTZ. Companies' Brief Property Development and Investment July 2015's primary residential sales of 1,594 units (ex-ECs) was triple of that a year ago, thanks to the boost by High Park Residences which saw an 85 per cent take-up rate and made up 73 per cent of the month's transactions. Excluding this, the remaining sales were fairly similar to June's, indicating anaemic but stable demand. http://www.businesstimes.com.sg/stocks/brokers-take-51 Park Hotel Group expands portfolio outside Asia Martin Hamilton-Smith, Minister for Investment and Trade, Minister for Defence Industries and Minister for Veterans' Affairs for South Australia, attended a signing ceremony on Monday in Singapore as the Park Hotel Group inked a management contract for its first hotel outside Asia. The group signed a contract with Pirie Investments (AUS) to manage the 250-room Park Hotel Adelaide, which is slated to open in the last quarter of 2018. Including the Park Hotel Adelaide, the group will own and manage 12 properties across five countries. http://www.businesstimes.com.sg/real-estate/park-hotel-group-expands-portfolio-outside-asia Views, Reviews & Forum 'No' to proposed changes on small flats National Development Minister Khaw Boon Wan yesterday turned down two suggested changes to the studio apartment and two-room- flat housing schemes, even as a plan to merge them is in the works. The upcoming Two-room Flexi scheme offers flats on 99-year leases, and shorter leases of 15 to 45 years for elderly households, as long as the lease lets them live there until they are at least 95 years old. http://www.straitstimes.com/singapore/housing/no-to-proposed-changes-on-small-flats Global Economy & Global Real Estate Kepland bullish ahead of completion of IFC Jakarta Tower 2 Keppel Land, the property unit of Keppel Corporation, celebrated the topping-off of International Financial Centre (IFC) Jakarta Tower Two in Jakarta's Central Business District on Tuesday morning. Ahead of its completion in the first quarter of 2016, it has secured tenants such as Servcorp, Tokio Marine, Grant Thornton, Rintis and Ithaca Resources, Keppel Land said. http://www.channelnewsasia.com/news/business/singapore/keppel-land-tops-off/2058688.html Currency squeeze seen punishing buyers of luxury homes in London China home prices rise for third straight month in July http://www.businesstimes.com.sg/real-estate/china-home-prices-rise-for-third-straight-month-in-july Tianjin catastrophe raises disturbing questions on safety, China's urbanisation Housing Rebound Likely to Endure in U.S. Through Fed Liftoff Blackstone Bides Time for Home-Rental REIT as Stocks Sag Momentum Trade Gets New Hero as Every U.S. Homebuilder Gains |