July | 2009 | Lush Dream Home

Over S$27.5b invested in Marina Bay from private and public sector

Posted on 30 Jul 2009 | Comments Off

More than S$27.5 billion has been invested so far in the new business and financial district in Marina Bay and the government is planning to pump in a further S$1 billion in infrastructure works there over the next 10 to 15 years.

Singapore’s National Development Minister Mah Bow Tan announced this at the topping out ceremony for the construction of the Marina Bay Financial Centre on Wednesday morning.

He also said there are some signs of speculation in the recent frenzy in the property market.

The government announced in April that Marina Bay had attracted total investments of over S$22 billion of which S$5.7 billion was from the government, and S$16.5 billion was from the private sector.

And just three months later, that figure, which includes government and private sector investments, has risen to over S$27.5 billion. Continue reading →

The Edge: Government won’t allow a property bubble

Posted on 30 Jul 2009 | Comments Off

AFTER WEEKS OF watching property prices and private property sales burgeon, the government has made its stand fairly clear. It will not tolerate a property bubble this time around. Certainly, it won’t allow local property prices to get out of hands.

National Development Minister Mah Boh Tan said today that Singapore was “monitoring the market closely” to prevent any froth and had the tools in hands to stop a bubble from developing. “I think the some of the practices and habits you saw in the last property boom are beginning to come back,” Mah said. “We will take whatever actions to prevent such a situation from happening, but it is important for buyers themselves to be aware.” Continue reading →