13 | August | 2009 | Lush Dream Home

Strong demand for HDB’s build-to-order Punggol flats

Posted on 13 Aug 2009 | Comments Off

APPLICATIONS for the build-to-order (BTO) Punggol Residences flats have been flooding into the Housing Board (HDB).

As at 5pm yesterday, the HDB had received 5,215 applications for the 769 flats on offer at the Punggol site.

This works out to a subscription rate of 6.7 times for the development, which comprises 615 four-room and 154 five-room flats. There were 3,609 applications for the four-room flats and 1,606 applications for the five-room units.

The deadline for applications is midnight on Aug 12.

An HDB spokesman said: ‘The strong interest shows that home-buyers recognise that HDB’s latest project offers good value for money.’

Punggol Residences, situated at the junction of Punggol Walk and Punggol Field, is located within the precincts of the future Punggol Town Centre. Continue reading →

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Tagged HDB, HDB News, Punggol, Punggol Residences

UOL makes first-half gain despite second-quarter loss

Posted on 13 Aug 2009 | Comments Off

MAINBOARD-LISTED property group UOL plunged into the red in the second quarter after lower operating income and property value losses hit its bottom line.

UOL’s $20.1 million loss in the three months to the end of June is a sharp reversal from the $145 million profit it made in the same period a year ago, and partly reflects a $77 million ‘fair value’ loss on investment properties and a $3.8 million impairment loss on a hotel property.

UOL had to pay $6.1 million in income tax during the period, with a substantial part of the fair value and impairment losses having no positive impact on the size of the tax bill.

Hotel operations and dividends were lower and hit by higher interest expenses plus a lower share of profits from associated companies.

The group’s revenue for the period ended June 30 grew 2 per cent on the previous year to hit $213.7 million.

It was boosted by progressive recognition of revenue from the sale of development properties, that is, sales made at various stages of completion o Continue reading →