Dubai halts hundreds of property projects
Dubai has cancelled 217 property projects in a two-year review by the Real Estate Regulatory Agency.According to a Dubai government bond prospectus, 237 of over 450 reviewed projects will be completed. It did not, however, name which projects have been cancelled.The document showed that the value...
Continue Reading • 15 Jun 2011
Top S'pore official for Eco-City to become its first resident
A top Singaporean official in charge of overseeing the Tianjin Eco-City development is planning to become the first resident of the green township in order to test out its eco-friendly features.Mr. Ho Tong Yen, Chief Executive of the Sino-Singapore project's master developer, said the 30 sq km...
Continue Reading • 14 Jun 2011
HK plans more measures to curb property prices
Hong Kong is preparing to implement another round of property cooling measures to curb prices which have reached record highs since 2009.John Tsang, Financial Secretary of the city-state, said that the property market was “abnormal”. He said that the Hong Kong Monetary Authority...
Continue Reading • 13 Jun 2011
China prohibits exaggerated property ads
Exaggerated advertising of high-end properties in China has been prohibited due to widespread criticism that such ads encourage people to flaunt their wealth.Phrases like “aristocrat territory” and “first-rate villas” have been widely adopted by luxury property developers...
Continue Reading • 10 Jun 2011
Keppel Land China acquires prime site in Shanghai
Keppel Land China Ltd, a wholly-owned subsidiary of Keppel Land, has acquired a 7.2ha site in the Jiading District in Shanghai, China for around RMB 1.25 billion (S$241 million).Keppel Land China said the acquisition, which marked its fifth residential development in Shanghai, was completed...
Continue Reading • 10 Jun 2011
No property bubble in China, says US developer
The real estate market in China will not collapse, as prices are supported by rapid economic growth, although the hotel segment could be at risk of a potential bubble, according to Ambrish Baisiwala, Chief Executive of Portman Holdings.“Overall, we don’t see a bubble in China. But...
Continue Reading • 8 Jun 2011
Property investors eyeing China
Real estate investors have been monitoring China over the past 18 months, as property markets recover across the world. China and other developing markets in the Asia Pacific region are now being perceived as more appealing to investors, according to analysts.Greg Penn, Executive Director of...
Continue Reading • 7 Jun 2011
Falling demand for HK property
Recent data on property deals in Hong Kong has revealed a decrease in demand over the last 12 months, according to a report by The Standard.Property transactions in May totalled 12,536, an increase of 20.7 percent from April, but declined 5.9 percent from last year.A Land Registry official noted...
Continue Reading • 6 Jun 2011
Keppel Land's Riviera Point 70% sold
Keppel Land Limited announced that it has sold more than 70 percent of the 193 units put up for sale during the soft launch of its Riviera Point project in District 7 in Ho Chi Minh City, Vietnam.The district’s tallest condominium development, it was jointly developed by Keppel Land...
Continue Reading • 3 Jun 2011
Frasers to increase presence in Jakarta
Frasers Hospitality is increasing its presence in Jakarta with the planned launches of four Fraser-branded gold-standard service residences over the next three years, according to a report by The Business Times.“Indonesia has very strong fundamentals and has just unveiled an ambitious...
Continue Reading • 3 Jun 2011
China home prices rise for 9th straight month
Home prices in China increased for the ninth consecutive month in May, as smaller cities resisted government efforts to curb the risk of a property bubble.SouFun Holdings Ltd reported that home prices increased 0.5 percent month-on-month in May. Of 100 cities monitored by SouFun, 76 cities...
Continue Reading • 3 Jun 2011
Raffles to establish university in Iskandar Malaysia
Raffles Education Malaysia Ltd (REM), a wholly-owned subsidiary of Raffles Education Corporation Limited (REC), has signed a joint venture (JV) agreement with Education@Iskandar Sdn Bhd (EISB) to develop Raffles University Iskandar (RUI) in EduCity, Iskandar Malaysia (EduCity@Iskandar).The...
Continue Reading • 1 Jun 2011
Property prices in HK district surge to HK$8,400 psf
Home prices in Wong Tai Sin, a district in Hong Kong have increased to an average of HK$8,400 psf, following the release of an additional 50 flats by Kerry Properties at its Lions Rise project in the area.Previously, the average selling price of flats in the secondary market in Wong Tai Sin was...
Continue Reading • 27 May 2011
Raffles to open Istanbul hotel next year
Raffles Hotels & Resorts has announced that it will open a hotel in Istanbul next year, under the brand name Raffles Istanbul Zorlu Center.The Zorlu Center will become Turkey’s first and only mixed-use project, comprising a hotel, offices, shops, residential property and a...
Continue Reading • 27 May 2011
HK developers launch new flats to tap robust market
Property developers in Hong Kong are preparing to release more new flats in the market, with Sun Hung Kai Properties planning to market all 117 units at i.UniQ today.Flats at the Shau Kei Wan project are sized from 398 sq ft to 622 sq, ft with an average price of HK$13,508 psf — higher than...
Continue Reading • 23 May 2011
UOL partners Richard Rogers for Shanghai project
UOL Group has named globally recognised architect Richard Rogers of Rogers Stirk Harbour + Partners (RSHP) to design its upcoming residential project in Changfeng, Shanghai.Mr. Rogers, a 2007 Pritzker Architect Prize Laureate, founded the RSHP and is well-known for his clear design focus and...
Continue Reading • 23 May 2011
BCA honours Jakarta Garden City
The Jakarta Garden City development is raising the bar for green developments by becoming the first residential township in Indonesia to be conferred the Green Mark Gold Award by the Building and Construction Authority (BCA) of Singapore. Developed by one of Asia's premier property developers,...
Continue Reading • 20 May 2011
April home price increases more widespread in China
More cities in China witnessed a rise in the prices of new homes in April, compared with March, as the government continued to curb property prices, according to official data from the National Bureau of Statistics (NBS).Of the 70 major cities monitored, 56 recorded an increase in the prices of...
Continue Reading • 20 May 2011
China intensifies rebuilding efforts in Urumqi slums
China is increasing its efforts to replace crude mud-and-brick houses with contemporary concrete apartments in the slum regions of the northwestern city of Urumqi.Home to 250,000 people, the majority of which are ethnic Uighurs, the slum areas in Xinjiang Uighur Autonomous Region’s capital...
Continue Reading • 18 May 2011
Property auction in Taipei responsible for setting record prices
Spaces within a building in the Eastern area of Taipei City in Taiwan were auctioned on Monday, attracting several potential buyers and setting record prices.The property, Sanyang Zhongxiao Building, is located at No. 180, Zhongxiao East Road Section 4. It is divided into two sections, with the...
Continue Reading • 18 May 2011