Daily Archives: 3 Oct 2009

Wearnes to beef up property play

Posted on 3 Oct 2009 | Comments Off on Wearnes to beef up property play

DIVERSIFIED WBL Corp, better known for its technology and motor businesses, has identified property development as a core activity with vast growth potential.

In a rare roadshow on Thursday, chief executive Tan Choon Seng said property would become a ‘very important’ part of the group’s four core divisions.

WBL, also known as Wearnes, used to lump its property interests under ‘Others’, but it is now looking to build up this portfolio, located mainly in China.

The group has built 28 developments totalling 2.32 million sq m in China over the past two decades.

Last November, it secured approval to convert a theme park it had in Chengdu into a high-end landed residential development. The 319,000 sq m project, to be launched on Oct 18, is expected to be ready by 2014.

In Shenyang, WBL is converting another theme park into a mixed development of high-rises. The 316,000 sq m plot will have office blocks, apartments and a shopping mall. The development is due to be completed in 2017. Continue reading →

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Posted in Developers

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Non-PAP wards get lift revamp

Posted on 3 Oct 2009 | Comments Off on Non-PAP wards get lift revamp

IN JULY, the two opposition wards of Hougang and Potong Pasir were told they would get their much-awaited lift upgrading earlier than expected.

Last night, it was officially confirmed that the Government had picked the blocks that would get a lift landing on every floor.

The announcement came from the People’s Action Party’s (PAP) grassroots advisers in both wards, which had been told after the 2006 General Election that they would be last in line for the Lift Upgrading Programme (LUP).

The adviser in Potong Pasir, Mr Sitoh Yih Pin, said nine blocks had been picked for the LUP. They are Blocks 101 to 109 in Potong Pasir Avenue 1.

Mr Sitoh, the PAP’s candidate in Potong Pasir in the last two general elections, added: ‘I’m very happy the LUP is coming to Potong Pasir.

‘This new facility will certainly benefit our residents, especially our senior citizens. I look forward to successfully implementing this project in our estate.’

He will be sending out a circular to residents in the selected blocks soon. Continue reading →

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Posted in HDB

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