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  • southside 5:57 am on April 21, 2016 Permalink | Reply  

    Developer reach with S$2 .7mil in extension charges 

    CapitaLand had had to spend $2.7 million to extend its New Launches Singapore deadline to market the remaining units at The Interlace.

    This calculates to S$21,000 per unit or S$7 psf, documented TODAYonline.

    Originally, the remaining flats at the 1,040-unit condominium on Depot Street should have been disposed by 13 March, but because spending the months. have another costs properties there’s to be sold New Launch Property by, CapitaLand’s deadline to sell been

    Last month, Property Developers’ Organization of Singapore (REDAS) President Augustine Tan estimated that developers in Singapore could bear nearly S$100 million in extension fees for failing to sell their remaining stock in 2016.

    In its latest earnings report, CapitaLand revealed that it’s identified buyers for 8 9 percent of the units it’s launched to date, adding that the 55-unit The Nassim at Nassim Hill and the 109-unit Victoria Park Villas in Victoria Park Road are set to be unveiled in H 1 2016. Its Cairnhill Nine development also posted healthy sales, with 193 from the 268 units changing hands as of last Thursday (14 April).

    However, the developer moved 222 residential units with a combined worth S$506 million in the city-state throughout the period under review, up in the S$197 million it earned for marketing 69 units a year past.

    Another cause for the lower revenue is the absence of good value increase of S$59.6 million arising from the usage change of Ascott Heng Shan Shanghai in Q1 2015. But the fall in revenue was partly offset by greater contributions from sales in China, together with rents at its serviced residence business and CapitaGreen.

    Despite the drop in earnings, CapitLand’s net income after taxation and minority pursuits (PATMI) soared by 35.4 percent yr-on-year to S$218.3 million in Q1 2016, thanks to the divestment of a property in China, Somerset ZhongGuanCun Beijing.

     
  • southside 4:27 am on April 15, 2016 Permalink | Reply  

    The 145ha Tarraleah hamlet has brought prospective buyers… 

    The 145ha Tarraleah hamlet has brought prospective buyers from Australia, China, Hong Kong and Singapore late last week since it was recorded in the marketplace, said John Blacklow, among the brokers marketing the property.

    Situated in the state’s Central Highlands, the village was initially built in 1930s and the 1920s to house 2,000 hydroelectric workers. After the dams and power plants servicing southern Tasmania became automated, but the facility fell into disuse.

    Afterwards, property developer Julian Homer bought the whole hamlet which had become dilapidated, and fixed the art-deco buildings before transforming it into a tourism-focused complex.

    Additionally included in the sale are a lake full of fish and 35 Highland cattle, dozens of homes, that includes Parc Riviera

    “Now it’s prepared for an operator to really take over and continue the operations as a tourism village,” he said, including the property generates a yearly revenue of A$2.1 million (S$2.19 million).

    Guests can play golf, explore the bush, capture salmon and trout in the lake, drink at a pub and relax in bungalows, while enjoying the business of the native animals such as wallabies, kangaroos and Tasmanian devils.

    Currently, there are not any full time residents in Tarraleah village, only tourism-related staff, added the advertising brokers.

     
  • southside 3:11 pm on April 14, 2016 Permalink | Reply  

    Monetary policy eases, to stop Singapore dollar from rising 

    Monetary policy eases, to prevent Singapore dollar from rising
    “This is not a policy to depreciate the domestic currency,” MAS said, adding that it simply removed the small and gradual appreciation route of the Singapore dollar nominal effective exchange rate (S$NEER) policy group that was in place.

    “ the degree at which it’s centred and The width of the policy group is going to be unchanged ,” it included.

    Following the 6.2 percent expansion recorded in Q4 last year, Singapore’s economy delayed in Q1 and read a level growth on a quarter-on-quarter seasonally adjusted annualised basis, the sophisticated estimates by the Ministry of Trade and Industry shown.

    Meanwhile, MAS Core Inflation has additionally been subdued.

    According to MAS, than envisaged in the October policy review, the Singapore economy is projected to enlarge at a modest rate in 2016. MAS Core Inflation also needs to pick up more gradually over the course of 2016 than formerly expected, and is currently likely to drop below 2 percent on average within the medium term.” Check this out Treasure Crest aka Treasure Crest EC

    It added the move into a neutral policy position of zero percent admiration follows the measured steps the central bank has taken to decrease the rate of appreciation of the policy band in October 2015 and January respectively.

    “The genuine results of S$NEER movements since October 2015 over the six months has been a zero percent appreciation compared to the preceding six-month span it said. “The cumulative effects of past S$NEER movements and the new policy path will continue to make sure price stability over the medium term,” it added.

    Following the announcement, the Singapore dollar weakened 0.9 percent to $1.36 degrees to the US dollar—its poorest since March 29.

     
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