CapitaLand says Q1 profit down 59%

CapitaLand says Q1 profit down 59%
 
SINGAPORE: Singapore property developer CapitaLand said on Wednesday net profit in the first quarter fell 59 percent year-on-year to S$247.5 million (US$181.9 million).
 
The decline came mainly from an absence of exceptional gains, said CapitaLand, the largest developer in Southeast Asia.
 
Last year’s first quarter profit of S$608.1 million included [...]

JTC releases North Buona Vista Drive site for sale

JTC releases North Buona Vista Drive site for sale
 
SINGAPORE: JTC Corporation releases its North Buona Vista Drive (LX 1-1) site for sale under the government’s reserve list .
 
The 99-year lease site is located at the junction of North Buona Vista Road and Commonwealth Avenue West.
 
Under the Reserve List system of the Government Land [...]

Singapore housing upswing to continue to 2010: Lehman

Singapore housing upswing to continue to 2010: Lehman 
 
 
Lehman Brothers says the upcycle in Singapore’s housing market is likely to last until 20-10.
 
The investment bank said it expects that there will be a deficit of up to 4.300 homes by 20-10, due to below-average public housing completion.
 
This will push homebuyers to the private housing [...]

CCT defers office plans for carpark

VOLATILE MARKET CONDITIONS
 
CCT defers office plans for carpark
 
CAPITACOMMERCIAL Trust (CCT) is deferring its planned redevelopment of Market Street carpark into a $1 billion to $1.5 billion premium office building due to volatile market conditions.
 
The plan was announced early this year amid concerns that the carpark crunch in Raffles Place is worsening. Now, a decision [...]

Three S’pore residential plots up for sale in quiet market

Three S’pore residential plots up for sale in quiet market
 
One exec condo site and two 99-year leasehold suburban sites open for bids
 
By Joyce Teo
 
BUYING interest in private homes may be relatively low now, but the Singapore Government is offering developers three new residential sites to consider buying.
 
Two are 99-year leasehold suburban sites, and [...]

US home vacancies rise to record 19 million on foreclosures

US home vacancies rise to record 19 million on foreclosures
 
BOSTON - A RECORD 18.6 million homes in the United States stood empty in the first quarter, as lenders took possession of a growing number of properties in foreclosures.
 
The figure is 5.7 per cent higher than a year ago, when 17.6 million properties were vacant, [...]

Rat problem - Town Council should be more responsible

Rat problem - Town Council should be more responsible
 
WE LIVE on the 10th storey of Blk 416 Hougang Ave 10. On April 23 at about 9am, when my wife opened the door of our flat, we were shocked to see a rat rush in from the common area outside and proceed to our balcony. My [...]

Income, not interest, led to property boom

Income, not interest, led to property boom
 
(SINGAPORE) The recent climb enjoyed by equity and property prices was driven more by strong economic growth than by low interest rates, according to a study by the Monetary Authority of Singapore (MAS).
 
Empirical research by MAS shows that economic activity exerts a larger influence on asset prices in [...]

Year of uneven growth, price worries ahead

Year of uneven growth, price worries ahead
 
MAS says financial services, IT sector vulnerable but core activities insulated from US
 
By ANNA TEO
 
(SINGAPORE) Global headwinds have gathered speed in recent months, but domestic and regional support should prevent the Singapore economy from sliding into a sharp downturn in 2008, says the Monetary Authority of [...]

Market Street Car Park set to stay - at least for now

Market Street Car Park set to stay - at least for now
 
CCT defers decision on redeveloping site into office building
 
By ARTHUR SIM
 
(SINGAPORE) CapitaCommercial Trust (CCT) has decided to defer its decision on the redevelopment of Market Street Car Park (MSCP) into an office building that could cost up to $1.5 billion.
 
Asked if [...]