DBS to buy stake in MBFC Tower 3
Posted: 10 December 2012 1154 hrs
SINGAPORE: DBS Group on Monday announced plans to acquire a stake in Marina Bay Financial Centre Tower 3 (MBFC), where the bank's headquarters is located.
In a filing with the Singapore Exchange, the bank said it will pay S$1.035 billion for a 30 per cent share in Central Boulevard Development Pte Ltd - a joint venture of Cheung Kong (Holdings) Ltd and Hutchison Whampoa Ltd.
DBS also has an option to take up another 3.3 per cent interest in the development for an estimated S$115 million.
MBFC Tower 3 is a 46-storey Grade A office building with about 1.35 million square feet (sq ft) of net lettable area. DBS is the anchor tenant at the tower, occupying over 600,000 sq ft or 18 floors of space.
DBS Chief Executive Piyush Gupta said: "The decision to acquire a stake in our new headquarters in MBFC Tower 3 enables us to better manage our occupancy costs in the long-term.
"The Marina Bay area is a location of choice for top financial institutions and businesses and the desirability and value of being housed here is only going to grow as Singapore strengthens its position as a leading Asian financial hub."
- CNA/ck
- wong chee tat :)
Monday, December 10, 2012
Dual-key EC units becoming more popular
Dual-key EC units becoming more popular
By Lip Kwok Wai, Karen Ng | Posted: 08 December 2012 1936 hrs
SINGAPORE: Dual-key units in executive condominiums (ECs) are rising in demand among home-seekers.
Developer MCC Land said its executive condominium project One Canberra sold out its 95 dual-key apartments within a month, from when the project was launched in April.
The developer is now confident that its new project, the EC Forestville, will also do well.
The number of dual-key apartments in Forestville is twice that of such units in a usual EC development.
Located in Woodlands, the project has 653 units, 201 of which are dual-key apartments with three to five bedrooms.
Sizes range from 1240 to 2150 square feet, depending on the number of rooms.
Analysts said that developers of such ECs take on more risk, as the floor area of each unit is larger and they might earn less per square foot.
But developers feel that dual-key apartments give homeowners more flexibility as it is suitable for multi-generation families.
Mr Michael Tan from Ho Lee Group, the developer of Heron Bay, said: "With dual-key (apartments), (homeowners) are given the room to grow so initially when they don't need (the space), they can rent it out to somebody for rental income. When the need arises, they can take back the extra space they need to allow them to have a bigger and better environment."
- CNA/xq
- wong chee tat :)
By Lip Kwok Wai, Karen Ng | Posted: 08 December 2012 1936 hrs
SINGAPORE: Dual-key units in executive condominiums (ECs) are rising in demand among home-seekers.
Developer MCC Land said its executive condominium project One Canberra sold out its 95 dual-key apartments within a month, from when the project was launched in April.
The developer is now confident that its new project, the EC Forestville, will also do well.
The number of dual-key apartments in Forestville is twice that of such units in a usual EC development.
Located in Woodlands, the project has 653 units, 201 of which are dual-key apartments with three to five bedrooms.
Sizes range from 1240 to 2150 square feet, depending on the number of rooms.
Analysts said that developers of such ECs take on more risk, as the floor area of each unit is larger and they might earn less per square foot.
But developers feel that dual-key apartments give homeowners more flexibility as it is suitable for multi-generation families.
Mr Michael Tan from Ho Lee Group, the developer of Heron Bay, said: "With dual-key (apartments), (homeowners) are given the room to grow so initially when they don't need (the space), they can rent it out to somebody for rental income. When the need arises, they can take back the extra space they need to allow them to have a bigger and better environment."
- CNA/xq
- wong chee tat :)
Bonuses drive year-end property demand: analyst
Bonuses drive year-end property demand: analyst
Posted: 08 December 2012 2107 hrs
SINGAPORE: December is normally a lull period for the property market, but some developers have now picked this period to launch their units and this includes three new executive condominiums (ECs).
The Topiary, an EC development in Sengkang, was launched on Friday. Within a day, more than 200 units were sold.
"Usually at the end of the year, people probably will travel and go for holidays. But the fact was that on the first day of launch which was yesterday, we sold 200 over units. It proves that there are still many people in Singapore waiting to buy houses," said Mark Teo, senior group division director at ERA.
"And of course, the second thing is that at the end of the year, usually we will have the certainty of getting some bonuses, so this is also another consideration."
Chris Koh, Chris International director, said: "Many of the developers who've launched their projects recently have reported good sales. So, for a developer, if you have everybody buying at this point of time, you wouldn't want to hold back your launch."
About 10 per cent of the Topiary are million-dollar units. These include the 4-bedroom apartments and 4-bedroom dual-key units.
So far, all 16 penthouse units have been sold.
"The purchasers of penthouses are both the first-timers as well as the upgraders," said Mr Teo. "But there is one common thing, which is usually, there are more family members and some of them may be multi-generation."
Two other developments located in Woodlands and Tampines will be open for bookings after Christmas.
Industry watchers said the low interest rates have contributed to the upbeat mood.
They added that it is one reason why so many buyers turn up for viewing during the weekends.
- CNA/xq
- wong chee tat :)
Posted: 08 December 2012 2107 hrs
SINGAPORE: December is normally a lull period for the property market, but some developers have now picked this period to launch their units and this includes three new executive condominiums (ECs).
The Topiary, an EC development in Sengkang, was launched on Friday. Within a day, more than 200 units were sold.
"Usually at the end of the year, people probably will travel and go for holidays. But the fact was that on the first day of launch which was yesterday, we sold 200 over units. It proves that there are still many people in Singapore waiting to buy houses," said Mark Teo, senior group division director at ERA.
"And of course, the second thing is that at the end of the year, usually we will have the certainty of getting some bonuses, so this is also another consideration."
Chris Koh, Chris International director, said: "Many of the developers who've launched their projects recently have reported good sales. So, for a developer, if you have everybody buying at this point of time, you wouldn't want to hold back your launch."
About 10 per cent of the Topiary are million-dollar units. These include the 4-bedroom apartments and 4-bedroom dual-key units.
So far, all 16 penthouse units have been sold.
"The purchasers of penthouses are both the first-timers as well as the upgraders," said Mr Teo. "But there is one common thing, which is usually, there are more family members and some of them may be multi-generation."
Two other developments located in Woodlands and Tampines will be open for bookings after Christmas.
Industry watchers said the low interest rates have contributed to the upbeat mood.
They added that it is one reason why so many buyers turn up for viewing during the weekends.
- CNA/xq
- wong chee tat :)
All penthouses at The Topiary EC costing up to S$1.6m each sold
All penthouses at The Topiary EC costing up to S$1.6m each sold
By Imelda Saad | Posted: 07 December 2012 1757 hrs
SINGAPORE: All 16 penthouses going at between S$1.3 million and S$1.6 million have been snapped up as sales opened on Friday for yet another Executive Condominium (EC) project in the market.
About a third of the units at the Topiary, located along Fernvale Lane, were sold within four hours.
Prices start from S$580,000 for a 2-bedroom unit.
Its developer Kheng Leong said recent transactions in the area show that the price difference between The Topiary and private condominiums is higher than in most other neighbourhoods. The difference is approximately 30 per cent to 40 per cent.
It also added that the interest in The Topiary is indicative that ECs continue to enjoy strong demand from buyers.
National Development Minister Khaw Boon Wan recently urged developers of ECs to be mindful about the intent and spirit of the EC policy.
He had said developers should ensure that units are affordable to the targeted EC applicants.
ECs were introduced to help Singaporean families earning within S$12,000 per month acquire a condominium at below market rate.
- CNA/jc
- wong chee tat :)
By Imelda Saad | Posted: 07 December 2012 1757 hrs
SINGAPORE: All 16 penthouses going at between S$1.3 million and S$1.6 million have been snapped up as sales opened on Friday for yet another Executive Condominium (EC) project in the market.
About a third of the units at the Topiary, located along Fernvale Lane, were sold within four hours.
Prices start from S$580,000 for a 2-bedroom unit.
Its developer Kheng Leong said recent transactions in the area show that the price difference between The Topiary and private condominiums is higher than in most other neighbourhoods. The difference is approximately 30 per cent to 40 per cent.
It also added that the interest in The Topiary is indicative that ECs continue to enjoy strong demand from buyers.
National Development Minister Khaw Boon Wan recently urged developers of ECs to be mindful about the intent and spirit of the EC policy.
He had said developers should ensure that units are affordable to the targeted EC applicants.
ECs were introduced to help Singaporean families earning within S$12,000 per month acquire a condominium at below market rate.
- CNA/jc
- wong chee tat :)
12 December a popular date to get hitched
12 December a popular date to get hitched
By Melody Chan, Karen Ng | Posted: 09 December 2012 2055 hrs
SINGAPORE: 12 December this year will hold a special significance for some 540 couples.
Many couples have picked the date 12-12-12 to tie the knot.
Couples say the repetitive numbers make it easier for them to remember the date of their wedding anniversary.
Also, such a special date will not come by for another century.
Based on statistics on the Registry of Marriages website, the number of couples that chose to get hitched this coming Wednesday is about four times more than the usual number seen in a weekend in December.
The auspicious date is also driving up demand for car rentals.
Some car rental companies say there is a 30 per cent increase in bookings for 12 December, compared to a regular weekday.
- CNA/xq
- wong chee tat :)
By Melody Chan, Karen Ng | Posted: 09 December 2012 2055 hrs
SINGAPORE: 12 December this year will hold a special significance for some 540 couples.
Many couples have picked the date 12-12-12 to tie the knot.
Couples say the repetitive numbers make it easier for them to remember the date of their wedding anniversary.
Also, such a special date will not come by for another century.
Based on statistics on the Registry of Marriages website, the number of couples that chose to get hitched this coming Wednesday is about four times more than the usual number seen in a weekend in December.
The auspicious date is also driving up demand for car rentals.
Some car rental companies say there is a 30 per cent increase in bookings for 12 December, compared to a regular weekday.
- CNA/xq
- wong chee tat :)
Supply of Indonesian maids expected to fall next year
Supply of Indonesian maids expected to fall next year
By Seet Sok Hwee, Karen Ng | Posted: 09 December 2012 2145 hrs
SINGAPORE: Maid agencies expect the number of Indonesian maids coming to work in Singapore to drop by 30 per cent, once the minimum wage for all Indonesians kicks in next month.
With the minimum wage, salaries for those working in Jakarta can go up to S$300 per month.
This may cause the maids to choose to work in Jakarta instead of Singapore.
Some domestic helpers from Indonesia say they enjoy better labour benefits there.
Besides, it is closer to their hometown and the cost of living there is not as high as in Singapore.
Maid agencies say Singaporeans should pay their maids more to make it more attractive for them to come here to work.
From January, all foreign maids in Singapore will be getting one mandatory day off per week instead of having no days off.
Some employers say they would rather pay more to their maids - to get them to work on their rest days.
"The employers themselves are working. So we do know, due to some feedback, they would like to have their own rest day during the weekend," said Carene Chin, executive director of Homekeeper Maid Agency.
"So (employers) don't mind paying extra to compensate the maid to have their rest day."
There are maids who welcome the chance to earn more money.
"I prefer to work. One day (off), one time in one month is ok for me already. So I can send more money to my family," said a maid working in Singapore.
- CNA/xq
- wong chee tat :)
By Seet Sok Hwee, Karen Ng | Posted: 09 December 2012 2145 hrs
SINGAPORE: Maid agencies expect the number of Indonesian maids coming to work in Singapore to drop by 30 per cent, once the minimum wage for all Indonesians kicks in next month.
With the minimum wage, salaries for those working in Jakarta can go up to S$300 per month.
This may cause the maids to choose to work in Jakarta instead of Singapore.
Some domestic helpers from Indonesia say they enjoy better labour benefits there.
Besides, it is closer to their hometown and the cost of living there is not as high as in Singapore.
Maid agencies say Singaporeans should pay their maids more to make it more attractive for them to come here to work.
From January, all foreign maids in Singapore will be getting one mandatory day off per week instead of having no days off.
Some employers say they would rather pay more to their maids - to get them to work on their rest days.
"The employers themselves are working. So we do know, due to some feedback, they would like to have their own rest day during the weekend," said Carene Chin, executive director of Homekeeper Maid Agency.
"So (employers) don't mind paying extra to compensate the maid to have their rest day."
There are maids who welcome the chance to earn more money.
"I prefer to work. One day (off), one time in one month is ok for me already. So I can send more money to my family," said a maid working in Singapore.
- CNA/xq
- wong chee tat :)
Thoughts
奔小康 means to strive for a comfortable life.
Yes, I want to strive for a comfortable life.
How can I do it?
- wong chee tat :)
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