Daily Archives: October 22, 2015 (27 Articles Found)

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HK real estate equity group to buy Big Hotel for $203m

A Hong Kong real estate private equity group is acquiring Big Hotel in Singapore for $203 million, ST has learnt. Gaw Capital Partners is known for restoring iconic hotels such as the Hollywood Roosevelt in LA, and the…

Biggest shareholder of Cambridge Industrial Trust’s manager also considering exit

Cambridge Industrial Trust’s manager looks increasingly likely to have new owners with its biggest shareholder also considering selling its 56 per cent stake. The Reit manager announced in SGX filling on Thurs that National Australia Bank’s nabInvest Capital…

Zouk sale gets industry thumbs-up

The sale of Zouk nightclub came as no surprise to industry players. Many would have heard on the grapevine that it was on the cards when Zouk announced its move to Clarke Quay in June. Reactions to the…

Sleepless nights due to MRT construction

I live about 100m away from the construction site for the upcoming Upper Thomson MRT station. Loud piling work goes on from 10pm at night until 6am the following morning on an almost daily basis, even though NEA…

S’pore should build its own Library of Alexandria

I am surprised that Singapore has not established a library along the lines of the one that used to exist in Alexandria, Egypt, which brought people together from around the world to quench their thirst for knowledge. No…

Visit to new attraction a let-down

I visited the Coney Island Park with a relative from US on Oct 15 (“Coney Island Park opens to the public”; Oct 11). The visit was a disappointment. Taking the Lorong Halus route, there was no signage leading…

Using citizens and cash to fight littering

The proverbial trope of using a gun instead of a swatter to exterminate a pesky housefly pops to mind when one recalls last week’s anti-littering proposal by the former chairman of the Government Parliamentary Committee for National Development,…

Rule tweak gives HDB flat sellers more time to move

Delivery driver Liew Cheng Liang wanted to sell his four-room flat in Jurong two years ago but feared he would not have enough time to renovate his new place before moving out of the sold flat. Under a…

Far East awarded best regional and local developer

Far East Organization, Singapore’s largest private property developer, took home several awards at the SEA Property Awards 2015 on Wed, including Best Developer in SEA and Singapore. The company last won the title in 2011. It also received…

Real estate market sentiment continues to weaken in 3Q2015: NUS-REDAS RESI

The overall sentiment for Singapore’s real estate market, based on RESI, was weak at 3.7 in 3Q2015. The index was jointly developed by the Department of Real Estate, NUS and REDAS. RESI is derived from quarterly surveys conducted…

Oakwood APAC signs up with boutique developer Newfort Realty

Oakwood Asia Pacific will finally make its presence felt in Singapore when it opens the doors to its first Oakwood- branded serviced apartment, Oakwood Studios, in Nov next year. The company signed its first management agreement with Newfort…

To buy or rent Singapore property, that is the question

Deciding to buy or rent is a personal decision and is probably tied more to timing than any other rationale. In general, homeownership is the cornerstone of good financial planning. It is better to invest in yourself than…

A case of disclosure lapse by CNQC?

CNQC (South Pacific), known for developing mass-market condominiums and ECs in Singapore under the “Qingjian Realty” brand, underwent a backdoor listing in Hong Kong without any apparent glitch this month. The exercise saw Hong Kong-listed building contractor CNQC…

E-commerce startups: a wild card for the industrial market?

The bulls and bears of Singapore’s industrial property market often reflect the pace of economic growth and the composition of the manufacturing sector. Since its post-independence days, the manufacturing sector in Singapore has evolved to be a key…

Bright spots on the retail property horizon

Singapore’s retail market has been experiencing a drop in sales values. Tourism arrivals and the ongoing labour shortage against the backdrop of an additional reduction in the foreign dependency ratio effective July 2013 are considered some of the…

Singapore well poised to keep lead as data centre hub

Singapore has established itself as the leading data centre (DC) hub of SEA in the past decade. According to Structure Research, revenue in the DC commercial market in Singapore amounted to nearly US$1 billion in 2014 and is…

Six more months for Pearl Bank to get owners’ nod for conservation

The iconic Pearl Bank Apartments has received a six-month extension to garner 100 per cent support from owners for its conservation bid, but the development’s liaison committee is holding on to hopes that its appeal for a lower…

LTA seeks app developer to create mobile journey planner

LTA is looking for mobile application developers to help create a comprehensive transport journey planner. This app could potentially show commuters the best sheltered route home when it rains, the smoothest route to take when carrying a foldable…

Rigid govt policies ‘hindering infrastructure growth’

Rigid and uncoordinated government policies have hindered infrastructure development in Asia, a region expected to account for nearly 60 per cent of global infrastructure spending in the next decade, IE Singapore CEO Teo Eng Cheong said. In order…

Genting Hong Kong to evolve Zouk into ‘all-encompassing’ lifestyle brand

Genting Hong Kong (GHK) is interested in evolving the Zouk name into an “all-encompassing lifestyle brand” that will range across a spectrum of leisure and hospitality properties. Mr Andrew Li, VP for lifestyle and F&B Concepts at GHK…

Two retail REITs report higher distributable income

Two key retail REITs in Singapore have reported higher distributable income to unitholders, on the back of steady tenant sales and rental income. Frasers Centrepoint Trust said its fourth-quarter distributable income was up 0.9 per cent to S$25.7…

Go beyond obvious ways to boost uptake of bus app

I refer to the report “More routes for bus app initiative by IDA, LTA” (Oct 20). It is heartening to see preliminary interest in offering in-demand responsive transport in Singapore through Beeline. However, it is worrying to hear…

HDB to appoint managing agents for new neighbourhood centres

HDB will appoint managing agents to handle the day-to-day operations of its new neighbourhood centres. HDB said it has already engaged property firm Knight Frank to be the marketing and retail consultant for the new centres, which will…

McKinsey launches digital campus in Singapore

Consulting firm McKinsey & Company on Thurs launched a campus in Singapore to help companies stay competitive in a digital age. The McKinsey Digital Campus will bring together McKinsey’s global capabilities in digital strategy and technology, advanced data…

Far East Hospitality to expand presence in region

Local hotel group Far East Hospitality announced on Thurs that it will be expanding its presence in Singapore and the region. It will be opening three hotels and service residences under its Oasia brand in Singapore and Malaysia…

River Nights Festival to highlight ‘Colours of Life’

The River Nights Festival returns on Fri with the theme ‘Colours of Life’, promising to transform the historical Singapore River and Empress Place precinct into a creative playground for both artists and the public. The public can look…

Weakening industrial space prices and rents continue stumble in Q3

Overall industrial space prices declined by 0.3%. Both prices and rentals of industrial spaces continued to gradually soften, as overall industrial space and multiple-user factory space prices fell by 0.8%, respectively. According to JTC, the price indices of…

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