Category Archives: Developers

Far East nabs award for Hillvista project

Posted on 16 May 2012 | Comments Off on Far East nabs award for Hillvista project

Property developer Far East Organization has clinched the prestigious FIABCI (International Real Estate Federation) Prix D’Excellence award in the residential category for its Hillvista development (pictured).

This is the seventh time that it has won the award which recognises property developments that stand-out in various aspects, including community benefit and environmental impact, development and construction, financial and marketing, architecture and design as well as concept.

In addition, Far East is the only company in the world to have seven such awards. The developer received the latest accolade yesterday at the 63rd FIABCI World Congress held in St Petersburg, Russia.

“We believe that developers of the future should continue to raise the bar in creating even better live-work-play spaces through innovation, customer focus and commitment,” said Chng Kiong Huat, Executive Director for Development and Planning at Far East.

Hillvista is a freehold residential project located in the Hillview area. It comprises of 127 apartment units that have been designed to create a tropical and contemporary Balinese living environment.

Source : PropertyGuru – 16 May 2012

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Property shares fall on policy concerns

Posted on 16 May 2012 | Comments Off on Property shares fall on policy concerns

Shares in Singapore developers such as CapitaLand fell after persistently strong property data added to worries that the government may introduce more measures to cool the housing market.

CapitaLand, Southeast Asia’s largest property developer, lost as much as 2.2% at $2.63, while smaller rival City Developments dropped 2.1% to $10.04.

New private home sales in Singapore stayed strong for the fourth consecutive month, rising nearly four% in April from March, data from the Urban Redevelopment Authority (URA) showed.

“Demand stays unabated even as the government continues to flood the system with supply, most recently releasing five sites yielding 2,100 units,” said CIMB Research in a report.

The broker noted that April’s new private home sales of 2,487 units was the highest since July 2009. It is underweight residential developers and has an underperform rating on CityDev but an outperform on CapitaLand.

“We believe the strong volumes and increasingly speculative trend, in our opinion, will not sit well with policy makers,” said CIMB.

Another broker Maybank Kim Eng said while the secondary market and the high-end segment in the primary market remain subdued, exuberance persists in the mass market

It believes policy risks are still elevated and expects property prices to correct by 10% by the end of 2013.

Kim Eng advised investors to avoid Singapore-focused residential developers and said its top picks are retail property stocks such as CapitaMall Trust and CapitaMalls Asia , followed by diversifed companies including CapitaLand and Keppel Land.

Source: TheEdge – 16 May 2012

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