Daily Archives: 7 Oct 2009

Eight more projects under BTO system to be launched by year end

Posted on 7 Oct 2009 | Comments Off on Eight more projects under BTO system to be launched by year end

The Housing and Development Board (HDB) will launch another eight “build-to order” (BTO) projects for flats by the end of this year.

These projects will be launched in Sengkang and Jurong West this month, two projects in Punggol next month and four projects in Dawson, Bukit Panjang and Sembawang in December.

National Development Minister Mah Bow Tan, who viewed one of the selection exercises at the HDB Hub on Wednesday, has assured Singaporeans that the supply of new flats under the BTO programme is more than adequate to meet the needs of younger couples.

He said that these flats are affordably priced and are good quality housing.

According to HDB, under the BTO system, the success rate for first timers who select their flat within the first try is 80 per cent, and within two tries is 96 per cent.

However, some have complained that they have not been able to get a flat after many attempts. Continue reading →

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Posted in HDB

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CapitaLand basks in positive spin (-off)

Posted on 7 Oct 2009 | Comments Off on CapitaLand basks in positive spin (-off)

Its shares rise as investors eye special dividend; outlook rosy for CMA too

CapitaLand shares rose as much as 4.9 per cent yesterday on news that the property group will spin off its $20.3 billion retail portfolio into a separate listed entity.

Shares rose following analyst reports which said that the move was positive for both CapitaLand and the new CapitaMalls Asia (CMA). Many research houses also issued ‘buy’ calls on the stock and raised their target prices.

However, the news did not go down as well with shareholders of CapitaLand’s two retail property trusts – CapitaMall Trust (CMT) and CapitaRetail China Trust (CRCT).

One reason for the warm reception for CapitaLand’s shares was a potential special dividend, which CapitaLand said it could pay out post-IPO. The stock gained 8 cents, or 2.2 per cent, to close at $3.75 yesterday. Continue reading →

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Posted in Developers, Funds