Straits Times Forum: Queries on HDB valuation scheme

IT WAS reported on July 26 (‘Sharp drop in growth of private home prices’) that, although there was a sharp drop in growth of private home prices between April and June, prices in the HDB resale market rose by 4.5 per cent in the same period, due to higher valuations and strong demand. The new [...]

Business Times: Russell to double Asia property investments

(SINGAPORE) US-based Russell Investments, which manages over US$211 billion in assets, wants to boost its exposure to Asian real estate as it sees growing markets in China and India withstanding a global downturn.
The company, which raises money from institutions such as pension funds and invests them with other fund managers, said it expects to more [...]

Business Times: Ayala Corp Q2 profit falls 38%

(MANILA) Ayala Corp, the Philippines’ most valuable conglomerate, said that second-quarter net income slid 38 per cent, as bank and telecoms earnings weakened, and warned that inflationary pressures would hit its second half.
‘We expect operating conditions to remain challenging for the balance of this year and perhaps into early next year as we continue to [...]

Business Times: Home sales to hit record this year, says Philippine builder Megaworld

Despite rising prices, Philippine builder says demand is not flagging
(MANILA) Megaworld Corp, the Philippine builder controlled by billionaire Andrew Tan, says that apartment sales will reach a record this year as the nation withstands a credit crisis that triggered a property slump in the US and UK.
‘The world may be ending in other parts but [...]

Business Times: Clear skies over Singapore for now: Merrill Lynch

US investment bank expects 2008 GDP to grow 5.2%, Sing dollar to stay strong
By ARTHUR SIM
THE outlook for the Singapore economy is bright, according to Merrill Lynch. As improbable as the forecast sounds – with the government cutting expectations for GDP and raising them for inflation – Merrill reckons the economy will accelerate and [...]

Business Times: M’sian developer SDB launches first project here; more to come

MALAYSIAN property developer Selangor Dredging Berhad (SDB) is making a foray into Singapore, and the company is not about to be put off by the slowing economic environment.
SDB, which is listed on Bursa Malaysia, has started marketing one high-end residential project on Wilkie Road here and hopes to launch another project by the end of [...]

Business Times: New Zealand home prices fall for first time since Feb 2005

(WELLINGTON) New Zealand’s house prices fell from a year earlier for the first time in more than three years in July as record-high interest rates eroded demand for property.
Average prices dropped 2.2 per cent from a year earlier, Quotable Value New Zealand Ltd, the government valuation agency, said in a report released in Wellington yesterday.
That’s [...]

Straits Times: Singapore’s fourth university to open in 2011

Classes will be held at temporary location till campus is ready in 2013
By Jane Ng
SINGAPORE’S fourth university will open its doors in 2011, and will admit 500 students in its first batch. What is not known yet is where classes will be held between then and 2013, when a permanent campus at Changi will [...]

Straits Times: Ex-Changi military camp now available for hotel use

PART of the famous Changi military camp has been put up for tender as a hotel – the latest move to transform the sleepy coastal haven into a leisure and lifestyle hot spot.
Two of the six camp buildings in Hendon Road can be leased at a guide rent of S$28,500 a month, said the Singapore [...]

Business Times: Will falling bids lead to tweaking of GLS?

COMMENTARY
Rising costs leave many developers with hands tied but govt retains options
By KALPANA RASHIWALA
WILL the Government Land Sales (GLS) Programme fizzle out because developers are offering low land bids in the face of rising construction costs?
Two suburban condo sites – at Woodleigh Close and Choa Chu Kang Drive – were sold at [...]

Business Times: Ho Bee’s Q2 profit falls 70% to S$37m

Revenue down 27%, due mainly to lower recognition from devt projects
By ARTHUR SIM
Developer, HO Bee Group has announced a net profit of S$36.96 million for Q2 2008, a 70.4 per cent fall from S$125.1 million a year earlier.
Revenue was S$116.8 million, a 27 per cent slide from S$160 million previously. Ho Bee said this [...]