CEA investigating 20 cases for infringement of ad guidelines

CEA investigating 20 cases for infringement of ad guidelines

Posted: 01 September 2011 1535 hrs

SINGAPORE: One month after its new guidelines on ethical advertising came into effect, the Council for Estate Agencies (CEA) said it is investigating 20 cases for possible infringement.

CEA’s director for regulatory control, Mr Lee Say Kee said dummy ads, which advertise fictional properties or properties which do not have the owner’s consent remain the most serious.

Others include advertisements that omit important information such as the salesperson’s registration and contact numbers.

CEA also said it has an in-house team to scan online property portals, classified ads and flyers.

But about half the cases under investigation are from complaints from the public.

The council said the larger agencies have put in place checks on their sales agents, but there remain concerns over smaller estate agencies.

Local estate agency PropNex, which has some 4,500 registered agents, said it has a system where a team vets soft copies of its agents’ advertising material.

PropNex Agency vice-president Lim Yong Hock added that agents find the process more troublesome and time-consuming, but will have to understand that it’s now an industry necessity.

- CNA/cc

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

Cooling measures won’t slow property demand: CapitaLand Residential »« Southeast Asia to see more investments from outside the region: DTZ

Southeast Asia to see more investments from outside the region: DTZ

Southeast Asia to see more investments from outside the region: DTZ

Posted: 01 September 2011 1615 hrs

SINGAPORE: As the debt problems in Europe and the US shift investor interest towards Asia Pacific, Southeast Asia could see more investments coming from outside the region. That is according to property consultants DTZ Research.

DTZ said most of the property investments in 2010 have already come from within the region.

In Malaysia, Singapore and Thailand, where property investments are tracked by DTZ Research, intra-ASEAN investments made up 92.6 per cent of all foreign investments in the three countries in 2010.

According to a recent report by DTZ Research, the attractiveness of Southeast Asia’s property markets is driven by six socio-economic trends. These are demographics, rising income levels, infrastructural developments, urbanisation, tourism and economic restructuring.

The large population base in ASEAN economies, except for Singapore, and growing wealth from sustained economic growth give rise to higher disposable incomes and domestic consumption, which in turn drive demand for real estate developments.

DTZ said investment opportunities in real estate aimed at this segment of the population include mid-tier and luxury retail developments as well as affordable and luxury residential developments.

It added that the growth of REITs in Southeast Asia, which is already a major force driving real estate investments in Singapore and Malaysia, will also lead to more property investments across the region.

However, DTZ warned that Singapore’s property market is the most volatile due to the open nature of the economy and as such, can turn quickly if the economic climate and debt problems in Europe and the USA worsen.

-CNA/ac

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

CEA investigating 20 cases for infringement of ad guidelines »« Knight Frank launches Riviera Point for sale by tender

Knight Frank launches Riviera Point for sale by tender

Knight Frank launches Riviera Point for sale by tender

Posted: 31 August 2011 2221 hrs

SINGAPORE: Real estate advisory firm Knight Frank has launched Riviera Point, a freehold site located along River Valley Road, for sale by tender.

It said the guide price for the property is S$70 million.

The site is located near the Orchard shopping belt, and has a land area of 14,580 square feet.

Knight Frank said the site may be redeveloped into a new project that could yield a gross floor area (GFA) of 49,303 square feet.

The tender for Riviera Point closes on September 29 at 3pm.

-CNA/ac

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

Southeast Asia to see more investments from outside the region: DTZ »« CCM wins S$100.5m contracts from HDB, Orion-One

CCM wins S$100.5m contracts from HDB, Orion-One

CCM wins S$100.5m contracts from HDB, Orion-One

04:46 AM Sep 01, 2011

Home-grown general contractor CCM Group announced yesterday it has secured two contracts worth a combined S$100.5 million from the Housing and Development Board (HDB) and Orion-One Residential.

The HDB contract, worth S$68.2 million, is for the construction of 491 residential units in Jurong West Neighbourhood 2.

The contract commences on Sept 5 and is expected to be completed by December 2013.

The Orion-One contract, worth S$32.3 million, is for the construction of a 23-storey residential apartment building with a five-storey multi-storey car park, swimming pool, communal facilities and a sky terrace in Jalan Ampas. The contract begins Oct 15 and is expected to be completed by October 2013

Source : TODAYonline – MediaCorp Press Ltd’s copyright

Knight Frank launches Riviera Point for sale by tender »« JTC launches 2.83-hectare site for sale