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Singapore Building & Construction Industry News


CapitaLand's Q1 net profit jumps 77% to $386.8m

CapitaLand yesterday unveiled a 77.2 per cent surge in first-quarter net profit to $386.8 million - thanks in large part to a gain of $160.9 million from the sale of 45 units of The Nassim. Portfolio gains of $17.7 million in the three months ended March 31 also helped the bottom line, mainly from the sale of a township project in China, the developer said. Group revenue for the quarter edged up 0.4 per cent to $897.5 million on more handovers from its development projects in China and rental co ...more

CDL trumps eight other bidders for Tampines residential site with S$370m bid

Singapore CITY Developments Ltd (CDL) has emerged the top bidder for the residential site at Tampines Avenue 10 at S$370.1 million. This translates to S$565.4 per square foot per plot ratio (psf ppr) based on the maximum gross floor area, marking a 5.7 per cent margin over the second-highest bid. There was significant Chinese interest for the site, with five out of nine bidders being Chinese players. Kingsford Development tabled the second highest bid of S$350 million, followed by Qingjian Realt ...more

Tycoon Koh Wee Meng fined for putting up wall at home

Real estate tycoon Koh Wee Meng was fined $12,000 yesterday after constructing a wall to fence off his Toh Crescent property without planning permission from the Urban Redevelopment Authority (URA). Koh, 53, who is the director of 31 companies, including the Fragrance Group, Parc Sovereign Hotel Management and JK Assets, pleaded guilty to carrying out the development between October 2009 and April 2010 at his home near Upper Changi Road North. He also admitted that he had authorised Emerald Cons ...more

Cost stands in the way of efficient building techniques

Key challenges have to be overcome before the construction industry can meet the target set by the Government - to quadruple by 2020 the number of projects that use more efficient technologies. The biggest is the high costs involved for contractors, including the buying of machinery and computer software, training of staff and, in some cases, costs incurred for storing and transporting prefabricated units to the site, said Singapore Contractors Association president Kenneth Loo. This is particul ...more

New NTU sports hall makes waves with innovative timber construction technology

Singapore THE Nanyang Technological University (NTU) on Monday officially unveiled its new S$35 million sports hall called The Wave, the first large-scale construction project in South-east Asia to use Mass Engineered Timber (MET) - an innovative timber construction technology that reduced on-site manpower for the project by 25 per cent and structural construction time by 33 per cent. This is because the building process involves assembling parts that were pre-fabricated off-site. The adoption o ...more

Frasers sells almost 400 units of Seaside Residences

Singapore KEEN buying demand was seen in the latest condominium launch, with Frasers Centrepoint Limited (FCL) moving close to 400 units at the 843-unit Seaside Residences' weekend launch, at an average price that BT understands to be S$1,700 per square foot (psf). Frasers Centrepoint Singapore said that some 70 per cent of the 560 released units were sold. About 60 per cent of the buyers live in the east, and 30 per cent within District 15. The strong showing at Seaside Residences came on the b ...more

Johor developers 'should drop inflated prices to clear glut'

Kuala Lumpur TO ADDRESS Johor's property glut, a property consultant has suggested that developers bite the bullet and allow prices - inflated to begin with during a period of easy credit - to slide to more down-to-earth levels. Take the bull by the horns and drop prices to more realistic levels, Jones Lang Wootton executive director Malathi Thevendran proposed when asked what developers could do to move housing stock. Speaking at a property forum in Kuala Lumpur on Wednesday, she said Jones Lan ...more

Even in S'pore, it makes sense to pour money into infrastructure

The Romans were obsessed with building roads, and rightly so, as they ensured the swift movement of goods, people and information and helped unite the empire. Fast forward to the 21st century and government focus on infrastructure building has not dimmed, particularly in Singapore. The soon-to-be-announced tenders for the construction of the North-South Corridor (NSC) will signal the start of Singapore's latest big-ticket project. The NSC is a 21.5km integrated transport passageway that encompas ...more