Property

Ascott secures contracts for 26 properties, boosting portfolio to over 100,000 units
SINGAPORE (Jan 21): CapitaLand’s wholly-owned lodging business unit, The Ascott Limited, has secured contracts for another 26 properties with more than 4,600 units across 18 cities and 11 countries. With the new contracts, Ascott’s global portfolio will include more than 100,000 units in 172 cities across 33 countries. This marks Ascott’s second consecutive year of record ...
Singapore home prices expected to show moderate 2% growth in 2019: Fitch
SINGAPORE (Jan 16): Singapore home prices are expected to show moderate growth of 2% in 2019 and 3% in 2020, according to Fitch Ratings in its 2019 Global Housing and Mortgage Outlook report. Last July, Singapore raised the additional buyer’s stamp duty on purchases other than first homes for Singapore residents by an additional 5-10ppt and tightened various LTV limits each by 5ppt, ...
Elections this year? Not before HDB clarifies refinancing policies first, says UBS
SINGAPORE (Jan 14): Singapore needs to clarify details of how HDB owners can retain the value of their properties under a proposed government scheme. If not, general elections, which has been rumoured to be called this year, has “no way” of happening. “If they don’t clarify these issues, they can’t call for an election this year,” says Kelvin Tay, regional chief investment officer ...
Singapore residential home sales face billion-dollar litmus test
SINGAPORE (Jan 10): Barely a week into 2019 and Singapore’s residential home sales market is facing a $1.1 billion litmus test. Horizon Towers, an older-style building near the popular Orchard Road shopping district, has gone on the market for redevelopment a third time after two failed attempts. The sellers’ collective has retained its reserve price but other groups of homeowners also ...
CapitaLand in JV to acquire 70% of Pufa Tower in Shanghai CBD for $546 mil
SINGAPORE (Jan 7): CapitaLand has formed a 50:50 joint venture with an unrelated third party to acquire 70% of Pufa Tower in Shanghai, China, for RMB2,752 million ($546.3 million). Pufa Tower is 34-storey tall with three basement levels of car park. On completion of the transaction, CapitaLand and its joint venture partner will own levels 8 to 19 and levels 21 to 32 with a total gross floor ...
Property markets from Hong Kong to Sydney join global downturn
(Jan 7): Asia is finally succumbing to the global property slowdown that’s jolted homeowners and investors from Vancouver to London, with markets in Singapore, Hong Kong and Australia showing fresh signs of softening. The economic ramifications could be serious. Lower house prices and higher mortgage rates will not only dent consumer confidence, but also disposable incomes, S&P Global ...
ARA Asset Management and Chelsfield Asia JV acquires Manulife Centre for $555.5 mil
SINGAPORE (Jan 4): ARA Asset Management and Chelsfield Asia, part of the UK property property group Chelsfield, have formed a joint venture to acquire Manulife Centre at 51 Bras Basah Road for $555.5 million. Spanning over 241,000 sf in office and retail space, the property comprises a ground floor retail podium and a large efficient floor plate of 23,000 sf on average. Located at the heart ...
Property markets from Hong Kong to Sydney join global downturn
HONG KONG/SHANGHAI (Jan 4): Asia is finally succumbing to the global property slowdown that’s jolted homeowners and investors from Vancouver to London, with markets in Singapore, Hong Kong and Australia showing fresh signs of softening. The economic ramifications could be serious. Lower house prices and higher mortgage rates will not only dent consumer confidence, but also disposable ...
Ascendas-Singbridge acquires 12.2-acre Chennai site for development of new IT park
SINGAPORE (Jan 3): Ascendas-Singbridge Group has acquired a 12.2-acre site in Chennai for an undisclosed sum from GSquare Group, making it Ascendas-Singbridge’s sixth property in the city. With a total development potential of 2.3 million sq ft, the land parcel located on Pallavaram–Thoraipakkam Road, also known as Radial Road, will be developed into a new IT park named International ...
Hong Kong has US$64 bil plan to build islands for new homes
HONG KONG (Jan 3): Hong Kong, the world’s least affordable property market, has a plan to tackle its housing crisis: build four artificial islands equal to about a fifth the size of Manhattan that could house more than a million people. The government-backed plan to create a gleaming property and commercial hub has been tried before—Palm Jumeirah, the palm-shaped archipelago in Dubai ...