Lushhomemedia

Singing the bubble blues

luxuryasiahome — Sat, 21 Nov 2009 10:21:03 +0000

Sales of private homes have dipped to their second lowest level this year in October according to data released by the Urban Redevelopment Authority (URA) this week. While market observers believe that this downward trend was the result of the recent anti-speculative measures introduced by the Government, some analysts are sceptical that the market has started [...]

Preview of Marina Bay Suites next week

luxuryasiahome — Sat, 21 Nov 2009 01:17:08 +0000

AFTER an almost two-year wait, Marina Bay Suites will finally be previewed next Wednesday to VVIPs and invited buyers, BT understands. Pricing for the preview has not been finalised, but some market watchers suggest it could be a shade below $2,500 per sq ft on average. Others tip the average price at about $2,300 psf. No [...]

MAS blocks bid by CIT to manage MI-Reit

luxuryasiahome — Sat, 21 Nov 2009 01:06:51 +0000

THE battle for control of MacArthurCook Industrial Reit (MI-Reit) appears to be over after the Monetary Authority of Singapore (MAS) blocked a rival from managing MI-Reit because of a potential conflict of interest. Appendix 2 of MAS’s Code on Collective Investment Schemes sets out the responsibilities of property funds, and it is understood that this was [...]

HK clamps down on marketing of apartments

luxuryasiahome — Sat, 21 Nov 2009 01:00:47 +0000

HONG KONG plans to tighten restrictions on marketing of uncompleted apartments, responding to concerns that misleading sales tactics by property developers have contributed to a surge in prices this year. The measures will require developers to provide more transparency about the square footage of apartments they are selling before completing, as well as information on floor [...]

No stamp duty boost for Govt

luxuryasiahome — Sat, 21 Nov 2009 00:41:40 +0000

More units sold, but these may not match up to last year’s overall value THIS year’s surprise housing boom may have provided an unexpected windfall for property owners – but not necessarily for the Government. Developers and individual sellers will probably sell twice the number of private homes this year than they did last year, going by [...]

Reits row: MAS nixes idea of common manager

luxuryasiahome — Sat, 21 Nov 2009 00:13:10 +0000

Rare statement from regulator hints at concerns over MI-Reit, Cambridge tussle ANY hopes that Cambridge Industrial Reit had of also managing MacarthurCook Industrial Reit (MI-Reit) were shot down by the regulator yesterday. The Monetary Authority of Singapore (MAS) issued a strongly worded announcement on the issue just three days before a crucial meeting involving both Reits. [...]

HK faces asset bubble risk: central bank

luxuryasiahome — Sat, 21 Nov 2009 00:08:38 +0000

It attracted record HK$567.5 billion in fund inflows in the past 13 months HONG KONG’S central bank chief Norman Chan warned that asset prices in the city could climb sharply next year and disconnect from fundamentals, raising the risk of a bubble, and said surging capital inflows posed a dilemma for policymakers across Asia. ‘With interest rates [...]

Recapitalisation plan is only proposal that meets funding requirements: MI REIT

luxuryasiahome — Fri, 20 Nov 2009 11:52:54 +0000

The manager of MacarthurCook Industrial REIT said its recapitalisation plan is the only proposal which meets the REIT’s substantial and immediate funding requirements. It said this is reinforced by Cambridge Industrial Trust’s (CIT’s) disclosure on Friday that it has no viable proposal or solution for MI-REIT and its unitholders. CIT said on Friday that the Monetary Authority [...]

MAS says CITM cannot be appointed as MI-REIT’s manager

luxuryasiahome — Fri, 20 Nov 2009 10:52:02 +0000

Cambridge Industrial Trust Management Limited (CITM), as manager of Cambridge Industrial Trust (CIT), said on Friday the Monetary Authority of Singapore (MAS) will not approve CITM being appointed as the manager of MI-REIT. CITM said this is due to potential conflicts arising from the competing interests of unitholders in CIT and MI-REIT. CITM added that the only [...]

CITM says no fund arrangement in place

luxuryasiahome — Fri, 20 Nov 2009 10:49:27 +0000

Cambridge Industrial Trust Management Limited (CITM), as manager of Cambridge Industrial Trust (CIT), clarified on Friday that it has no financing arrangements in place for MI-REIT. CITM’s discussions on the alternative options are currently only preliminary and exploratory in nature. On Thursday, CIT’s CEO Chris Calvert told Dow Jones Newswires that CIT is talking with National Australia [...]