Pacific Star increases stake in Prime REIT to 50%

Pacific Star increases stake in Prime REIT to 50%
 
SINGAPORE : Singapore-based real estate investment house Pacific Star Group has agreed to buy the 25 percent stake held by MEAG Munich Ergo Asset Management in Prime REIT Management Holdings.
 
Prime REIT owns 100 percent of listed Macquarie Pacific Star Prime REIT Management. It is also the [...]

Investors flee emerging property markets: survey

Investors flee emerging property markets: survey
 
LONDON – Cash-thirsty investors are being forced to abandon plans for investment in emerging property sectors because of persistent problems in global money markets, the Royal Institution of Chartered Surveyors said on Thursday.
 
In its quarterly Global Commercial Property Survey, RICS said investor appetite for risk had plunged since the onset [...]

One Raffles Quay wins prestigious FIABCI award

One Raffles Quay wins prestigious FIABCI award
 
SINGAPORE: The International Real Estate Federation or FIABCI has named Singapore’s One Raffles Quay as the winner of the excellence award in the office category.
FIABCI held its 17th annual Prix d’Excellence Awards ceremony in Amsterdam on Thursday.
The award recognises One Raffles Quay for excelling in all aspects of development, [...]

Eastern Holdings says FY net profit up 89%

Eastern Holdings says FY net profit up 89% 
  
Boutique property developer, Eastern Holdings says its full year net profit surged 89 percent to 15.5 million dollars.
 
Revenue over the same period jumped 19 percent to 57 million dollars.
 
The company attributed the increase to the group’s decision to diversify into the second core business [...]

Resorts World at Sentosa launches marine fund

Resorts World at Sentosa launches marine fund
 
SINGAPORE – Resorts World at Sentosa (RWS) on Thursday launched a fund to sponsor research, education and conservation efforts related to marine life, to further the marine conservation cause.
 
The RWS Marine Life Fund will dispatch up to $100,000 (US$73,347) each year in 2008 and 2009; and up to [...]

Stamford Land FY08 net profit up 28.7%

Stamford Land FY08 net profit up 28.7%
 
SINGAPORE – Stamford Land Corporation on Thursday unveiled a 28.7 per cent rise in its net profit for the year ended March 31, 2008.
 
Revenue, however, fell 7.3 per cent to $276.11 million (US$202.52 million) as it has a low inventory of completed residential properties for sale compared with [...]

New Project Launch by Developer: Shelford Suites

New Project Launch by Developer
 
Address: 16, 16A & 16B Shelford Road
 
Tenure: Freehold
 
Type of Development: 3 blocks of 5-storey residential units with a basement car park, swimming pool and communal facilities
 
Total Unit: 77 units
 
Unit Mix: 2/3/3PH/4PH
 
Payment Scheme: Deferred and Progressive
 
Special Features: Private Lift Lobby for all residences
 
Selling Point:
-          Panoramic vista of nature’s greenery and the city [...]

Easing of yuan bonds not much help: Fitch

Easing of yuan bonds not much help: Fitch
 
(BEIJING) Most of China’s cash-thirsty property developers are unlikely to benefit from the easing of a regulatory logjam on domestic bond issuance, Fitch Ratings said yesterday.
 
The China Securities Regulatory Commission (CSRC) has overseen the corporate bond market since last August, but it did not start until March to [...]

Japan’s property industry downgraded by Morgan

Japan’s property industry downgraded by Morgan
 
Condominiums put up for sale in the Tokyo region dropped in April
 
(TOKYO) Japan’s real estate industry was downgraded to ‘in-line’ from ‘attractive’ by Morgan Stanley, which cited credit tightening after the sub-prime market collapse in the US and a slowdown in the national condominium market.
 
Mitsui Fudosan Co and Mitsubishi [...]

Designers of National Art Gallery named

Designers of National Art Gallery named
 
 
THE Ministry of Information, Communications and the Arts (Mica) yesterday announced the appointment of Studio Milou Architecture of France and CPG Consultants Pte Ltd as principal consultants to design and build the National Art Gallery of Singapore.
 
 
‘We arrived at this decision after much deliberation, carefully studying each scheme and holding [...]