Singapore Real Estate

Bumper crop of HDB flats up for sale

An unprecedented 12,411 flats in 25 estates were launched by the Housing and Development Board (HDB) on Tuesday under the November build-to-order (BTO) and sale of balance flats (SBF) exercise. This is HDB's largest sales exercise, comprising 7,061 BTO flats across seven projects in the non-mature towns of Bukit Batok, Choa Chu Kang, Hougang, Punggol and Sengkang, and another three projects in Bidadari estate in Toa Payoh.

23-year-old found dead at Bright Hill Crescent construction site

Companies' Brief

Kwek Leng Joo's legacy will endure: PM Lee

Singapore has lost a champion of the environment and leader of corporate social responsibility, following the death of property tycoon and philanthropist Kwek Leng Joo, said Prime Minister Lee Hsien Loong. In a condolence letter addressed to Mr Kwek's wife on Tuesday (Nov 17), Mr Lee noted the many achievements of the deputy chairman of City Developments Limited and said his legacy, especially that of championing sustainable development will endure. "We hope you and your family will be comforted by the many seeds that he has planted, which will help keep Singapore green and eco‐friendly for many years to come," Mr Lee wrote.

Tributes continue pouring in for CDL's Kwek Leng Joo

Tributes continued to pour in on Tuesday for City Developments Ltd (CDL) deputy chairman Kwek Leng Joo, 62, who died in his sleep from a heart attack on Monday morning. In a condolence letter to Mr Kwek's widow, Alice, Prime Minister Lee Hsien Loong said that he and his wife, Ho Ching, were shocked and deeply saddened to hear of the tycoon's passing while in Turkey for the G-20 Summit. "Leng Joo left us suddenly when he had so much more to give. Singapore has lost a champion of the environment, leader of corporate social responsibility, and a fine photographer with a big heart."

S'pore Reits increase perpetual bonds before new rules take effect

Singapore landlords are loading up on bonds masked as equity to get around new rules curbing their debts amid a property slump. Real estate investment trusts (Reits) issued a record S$700 million of perpetual notes with no set maturity date in 2015 and they are likely to sell more, according to Fitch Ratings. The Monetary Authority of Singapore (MAS) is capping borrowings of Reits at 45 per cent of assets from next year and debt that can be considered equity offers landlords a way of complying with the stricter rules.

Global Economy & Global Real Estate

Ultra-high net worth individuals moving towards impact investing: Credit Suisse

Ultra-high net worth individuals in the Asia Pacific plan to allocate more funds towards impact investing, over philanthropic donations, according to a report released by Credit Suisse at its annual Philanthropists Forum on Tuesday (Nov 17). With impact investing, they put capital with enterprises that generate a positive social or environmental impact, other than giving financial returns.

CapitaLand navigates China slowdown

Capitaland recognises that China's golden era for real estate is past, but still sees opportunities there, thanks to its increasing urbanisation, market liberalisation and the internationalisation of the yuan. The company's president and group chief executive officer Lim Ming Yan, speaking at a briefing at Ascott Midtown Suzhou on Monday, said it is important to put into perspective the negative sentiments spread in the media about the China slowdown.

US inflation rise boosts expectations of rate hike

Asia-Pac institutional investors seen doubling property portfolio

Polish Households Are Worth More Than Germany's, Survey Reveals

U.S. Homebuilder Confidence Eased in November From Decade High

Saudi Tax Challenges Culture of Using Land as a Bank Account

Home Depot Dodges Retail Malaise as Profit Exceeds Estimates

British Land Plans to Extend UBS's London Base After Bank Leaves