Monthly Archives: July 2009

Property developers celebrate Tower One topping out

Posted on 30 Jul 2009 | Comments Off

KEPPEL Land, Cheung Kong (Holdings) and Hongkong Land jointly celebrated the topping out of Tower One at Marina Bay Financial Centre (MBFC) yesterday. National Development Minister Mah Bow Tan was guest of honour at the event.

Tower One achieved a 100 per cent pre-commitment rate when it was launched in 2007. Standard Chartered Bank is an anchor tenant and will be taking up 500,000 sq ft of office space. The 33-storey building will obtain its temporary occupation permit next year.

Towers Two and Three have secured pre-commitment rates of around 45 per cent and 55 per cent respectively. This translates to a pre-commitment rate of 61 per cent for the first two phases of MBFC. Continue reading →

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Posted in Developers, Office / Retail / Industrial

Tagged Developers, Singapore Office / Retail, World

Mah sounds warning on property buzz

Posted on 30 Jul 2009 | Comments Off

THE Government will take ‘whatever action necessary’ to prevent excessive speculation in the property market, said National Development Minister Mah Bow Tan yesterday.

Mr Mah’s note of caution comes amid a buying frenzy that has gripped the real estate sector in recent months.

He told the media on the sidelines of an industry event: ‘I wouldn’t say there is excessive speculation at the moment, but there is some element of speculation involved.

‘Some of the practices and habits that you saw in the last property boom are beginning to come back, so I think we’ll have to be careful.’ Continue reading →