Condo land falling below building costs

Condo land falling below building costs
 
Developers of entry-level housing squeezed by weak selling prices and surge in construction costs
 
By KALPANA RASHIWALA
 
(SINGAPORE) For the first time in at least two decades, construction costs for some 99-year condo sites are actually higher than their land costs. This is taking place against the backdrop of [...]

More public sector projects put on hold to ease squeeze

More public sector projects put on hold to ease squeeze
Move will free up resources for integrated resorts, other key projects
 
 
(SINGAPORE) The government will postpone construction of another $1.7 billion worth of public sector projects - on top of some $3 billion worth that have already been put off - as it looks to manage rising [...]

Design Studio JV wins Sands IR contract

Design Studio JV wins Sands IR contract
 
 
 
DDS CONTRACTS & Interior Solutions, a joint venture between Depa, the world’s largest interior contracting company, and locally listed Design Studio, has won a fit-out project with a contract value of $69.1 million for the Marina Bay Sands Integrated Resort (IR).
 
 
The contract, DDS’ first in Singapore, is for the [...]

Govt defers projects worth $1.7b

Govt defers projects worth $1.7b 
 
Move to ease pressure on building costs
 
THE Government is deferring another $1.7 billion of public sector construction projects to ease pressure on red-hot building costs in the next two years.
This is the third time since November that public projects have been postponed amid high demand for building [...]

Govt to delay additional S$1.7b worth of public sector projects

Govt to delay additional S$1.7b worth of public sector projects
 
SINGAPORE: The government has decided to postpone an additional S$1.7 billion worth of public sector projects to further ease pressure on construction resources in Singapore.
 
The government had earlier announced that it would postpone about S$3 billion worth of public sector projects to after 2009.
 
With [...]

Govt to defer $1.7bil of construction projects

Govt to defer $1.7bil of construction projects
 
Singapore’s government is deferring a further 1.7 billion dollars worth of construction projects as material and labour costs rose as much as 5 percent in the first quarter.
 
National Development Minister Mah Bow Tan gave the update in a parliamentary written reply issued today.
 
The move brings the total value of [...]

Drake & Scull IPO 101 times subscribed

Drake & Scull IPO 101 times subscribed
 
(DUBAI) Drake & Scull International PJSC, the Dubai-based construction engineering contractor, received bids worth 124 billion dirhams (S$36.7 billion) in its initial public share offering, 101 times the amount it sought.
 
About 45,600 local and international investors subscribed to the IPO, hoping to ‘benefit from mechanical, electrical, plumbing and [...]

BCA will act on illegal renovations

BCA will act on illegal renovations
 
I REFER to the letter, ‘Step up scrutiny to curb illegal renovations’ (July 3). We acknowledge Mr Ng Wai Hong’s concerns about illegal renovations and appreciate this opportunity to address them.
 
We assure readers the Building and Construction Authority (BCA) places great emphasis on structural safety of all building works. [...]

China Jingye to build Universal Studios S’pore

China Jingye to build Universal Studios S’pore
 
It clinches $705m contract for infrastructural work
 
RESORTS World at Sentosa (RWS) yesterday said that it awarded a $705 million contract to a Chinese company for infrastructural work at Universal Studios Singapore.
 
The contractor, China Jingye Engineering Corporation (Singapore branch), is a subsidiary of the Chinese government-linked China Metallurgical Corporation (MCC) [...]

Construction stocks: keep the 3 S’s in mind

Construction stocks: keep the 3 S’s in mind
Tiptoeing gingerly around the sector, think specialised, short and selective
 
THEY say there’s no business like show business; right now, they are also saying there’s no worse business than the construction business.
 
The construction industry is being battered from every angle: margins are being squeezed; sand, concrete and steel prices [...]