News Highlights Monday 12 May 2008

Sales of strata offices down, may fall further
Sales of strata-titled offices have gone down. While prices are holding steady, they might start to dip in the coming months, said CBRE. It analysed data for seven major strata-titled office buildings and found that, in the first three months of the year, only 11 sales of strata office units took place. The figure is less than half of that in the previous quarter and a fifth of that for the same period a year ago. The slowdown comes despite a shortage of office supply. In the strata-titled market, most transactions are relatively small, so buyers are high net worth individuals or companies who are more likely to be sentiment-driven than property funds, said CBRE. Across property types, offices saw the smallest increase in prices in the first three months of this year, inching up 1.1% in Q1. CBRE also said there is likely an easing of activity and capital values in the office sector.


- The Straits Times, H18






Opportunities abound despite uncertainties
The US economy will probably suffer for a few more quarters, but there are sectors in Singapore that will continue to thrive. The construction and building materials sector, for instance, will benefit from mega investments. OCBC CEO said there may also be something to cheer about in the residential property market. He saw opportunities in lending to buyers who had purchased on deferred payment terms, reckoning that they would pick up their purchases because rental demand was so strong.


- The Straits Times, H20








QFLF scheme will increase competition
The proposed Qualified Foreign Law Firm (QFLF) scheme looks set to increase the competition for the best legal talent in Singapore. Up to two international law firms are looking to set up shop here this year. With a QFLF licence, foreign law firms can practise in some areas of Singapore law by hiring Singapore-qualified lawyers.


- The Business Times, P2








Gallant units sell land worth $45m at Bintan's Lagoi Bay
Two subsidiaries of Singapore-listed Gallant Venture Ltd - PT Bintan Resorts Cakrawals and PT Buana Megawisatama - sold S$45 million worth of land at Bintan's new Lagoi Bay development - close to 300,000 sq m. On offer for sale within the development are seven prime beachfront resort sites and over 400 ha of residential sites.


- The Business Times, P8








French firm eyeing S'pore broadband bonanza
French high-speed optical network solutions vendor Ekinops, which began operations in Asia last month with the setting up of its Singapore office, wants to be an equipment and solutions supplier to Singapore's upcoming ultra-fast broadband project. Singapore's Intelligent Nation 2015 (iN2015) masterplan, which includes the Next Generation National Broadband Network (Next Gen NBN), was a key reason Ekinops decided to set up operations here.


- The Business Times, P31








8 Rodyk
- Freehold
- 500 units
- Robertson Quay
- Developer: New Century Real Estate


- The Business Times, P9 - advertisement