China to invest billions of euros in Greece
China will invest billions of euros in different industries in Greece, ranging from olive oil to the shipping industry, as the European nation struggles to cut its massive financial debt.Around 14 investment agreements were signed by companies from the two nations during a visit of Mr. Zhang...
Continue Reading • 16 Jun 2010
30 percent take-up rate in phase 2 of Tranquility Park
Phase two of Tranquility Park, which is being developed by UEM Land Berhad, has sold at least 30 percent of its total units.Tranquility Park is part of the East Ledang development located in Nusajaya, which has 140 residential units – 28 resort bungalows and 112 twin villas.“About 30...
Continue Reading • 15 Jun 2010
China's foreign direct investment rises again
China’s foreign direct investment increased for a tenth month in May – further evidence that the country is weathering the debt crisis in Europe.According to a World Bank forecast, the Chinese economy will grow by 9.5 percent in 2010, three times the growth rate of the United...
Continue Reading • 14 Jun 2010
Asian demand for London homes rises
Asian investors, attracted by increasing rents and a weak pound, made up almost 50 percent of all buyers in the London real estate market in 2009, according to research conducted by Knight Frank LLP.Investors from Singapore, Hong Kong, Malaysia and China accounted for 28 percent of London home...
Continue Reading • 14 Jun 2010
Indonesia boasts seaside residential projects
Luxury living in seaside residential projects in Indonesia has emerged as a trend, becoming a hit for those who cannot afford homes at Sentosa Cove.The Montigo Resorts, which is located in Batam Island, features 45 semi-detached and terrace houses with sizes of more than 560 sq m and priced from...
Continue Reading • 11 Jun 2010
Thailand fears property bubble formation
The President of the Agency for Real Estate Affairs in Thailand has cautioned against a possible bubble formation in the country’s property market.Dr. Sopon Pornchokchai stressed that a bubble could form in 2011 and 2012 due to the rapid construction of low-priced housing, as property...
Continue Reading • 11 Jun 2010
Property prices in China surge in May
China's property prices increased at the second-fastest rate last month, indicating little sign that the government’s crackdown on speculation will work to stop an asset-price bubble.The 12.4-percent gain compared with the recorded 12.8 percent increase in April 2009, according to the...
Continue Reading • 11 Jun 2010
HK residential site receives top bid of HK$10.9b
The HK$10.9 billion (S$1.98 billion) sale of a residential site in a public auction conducted by the Hong Kong government has surpassed several estimates and indicated that home demand is withstanding efforts to cool down the property market.Potential home buyers should take into consideration...
Continue Reading • 10 Jun 2010
Yanlord, GIC unit to develop properties in China
China-based property developer Yanlord Land is tying up with the property unit of Government of Singapore Investment Corp (GIC) to set up a US$300-million joint venture company to develop a residential project in Chengdu, China.Yanlord has announced that it has set up a JV company – Yanlord...
Continue Reading • 10 Jun 2010
Vietnamese developers eager to partner with Singapore companies
Property developers based in Vietnam said they are eager to pursue retail and residential projects in their country with Singapore partners like CapitaLand.“I am happy to tie up with Singapore developers” with their transparency and good reputation, said Le Nu Thuy Duong, general...
Continue Reading • 9 Jun 2010
CapitaLand's first residential property in Vietnam receives strong response
CapitaLand, South-east Asia's largest property developer, said it received strong response for its residential property in Vietnam.During a topping out ceremony held in Ho Chi Minh City, the property giant announced it has sold three quarters of the units in an apartment project called The...
Continue Reading • 9 Jun 2010
HK analysts to reduce land auction bid forecast
Hong Kong property developers might pay HK$8.41 billion (S$1.5 billion) for a residential site at a government auction, as some property analysts reduce their estimates following a decrease in apartment prices in the past two weeks, as well as the missed forecasts on two previous land...
Continue Reading • 8 Jun 2010
CapitaLand to proceed with $3.5b expansion in Vietnam
South-east Asia's largest property developer, CapitaLand, is undergoing a major expansion in Vietnam, doubling its property investment in the country to nearly $3.5 billion (US$2.5 billion) for the next three to five years.The property giant announced that it wanted to develop affordable...
Continue Reading • 8 Jun 2010
China's mass-market housing still affordable
China’s mass market housing remains affordable and is not likely to suffer from a bubble pressures in the top-tier cities and high-end segments.Liew Mun Leong, CEO of Capitaland, said that opportunities in the retail property market continue to expand across mainland China.The property...
Continue Reading • 7 Jun 2010
Property sales drop 70 percent in Shanghai and Beijing
Real estate sales in Shenzhen, Shanghai and Beijing dipped as much as 70 percent last month as property developers delay sales after the central government launched its tightening measures.The Chinese government has restricted pre-sales by developers, raised minimum mortgage rates, curbed loans...
Continue Reading • 3 Jun 2010
Singaporean developers tread softly despite China curbs
While Chinese developers continue to delay home sales, their Singaporean counterparts are moving ahead with the launches of their Chinese projects.However, some Singaporean developers admitted that they will be closely monitoring the market before making future launches. Demand from homebuyers is...
Continue Reading • 3 Jun 2010
Housing problem in China worse than the US
The housing market problems in China are worse than those in the United States prior to the global recession as they could stir up public discontent, according to a central bank adviser.The comments were made before the State Council in China, or the cabinet, said that it would “gradually...
Continue Reading • 2 Jun 2010
GIC bids for iconic London Hotel
Government of Singapore Investment Corp (GIC) is one of the cash-rich buyers eyeing to purchase a London landmark -- Grosvenor House Hotel -- from the Royal Bank of Scotland Group PLC, sources said.The Grosvenor House Hotel is expected to fetch around £500 million ($727.1 million), which is...
Continue Reading • 2 Jun 2010
Famous Watergate Hotel in Washington DC sold for US$45m
Having been vacant since 2007, the renowned Watergate Hotel in Washington DC was sold this week to a group of European investors by the bank that foreclosed on the hotel last summer.Marc Magazine, who led the auction of the hotel for broker CB Richard Ellis, said the 251-room hotel on prestigious...
Continue Reading • 31 May 2010
OCBC to open new branches in China this year
OCBC Bank is gearing up for an aggressive expansion plan in China. It aims to increase its current 11 branches in the country by over half before the end of 2010, it said."We should be able to get an approval for a new branch. I hope some time next month. We're...
Continue Reading • 27 May 2010