I was in Hong Kong during Chinese New Year. With 92 percent of the population being Chinese, everyone was taking a break during the public holiday. Not for the property agents. Some agency branches even opened on the first day of Chinese New Year. One of them was Centaline Property Agency (中原地產), a top real estate brokerage firm in Hong Kong. Its founder Shih Wing-ching … [Read more...]
4 major concerns over Oxley’s game plan
I attended Oxley Holdings’ 2QFY2018 results briefing last Friday and left the meeting with four concerns regarding the Singapore developer’s strategic directions.1st Concern: New projects have to be launched ASAP Oxley’s quarterly results ending 31 December 2017 was filed with SGX on Thursday evening. Below is the summary of the developer's financial performance comparing with … [Read more...]
Chinese developers: Who exactly are they?
Since the start of the year, cash-rich property developers from mainland China have been actively participating in Government Land Sales (GLS) tenders. Aiming to expand their footprint in Singapore, they have set new records in bidding prices for residential sites. This is no doubt a big windfall for the government. But not for local developers who may be involuntarily … [Read more...]
Are Singapore developers forced to walk a tightrope?
Government Land Sales for residential sites in Singapore just crossed the S$1 billion mark. A 99-year leasehold site in Queenstown Stirling Road was sold at a top bid of S$1.003 billion. (Read article in Bloomberg.) The winning consortium is China’s Nanshan Group and Logan Property (a Chinese developer listed in Hong Kong). Nanshan has been eyeing at the Singapore property … [Read more...]
Telling the good developers from the bad ones
A priest is dying. On his deathbed, he asks to see a property developer and a lawyer. Both of them arrive timely to see him. “We are very touched that you remember us at the end of your journey.” They tell the priest. The priest gasps, holding tightly the hands of the developer and the lawyer. “All my life I’ve been following the footsteps of my Lord. And I want … [Read more...]