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Wednesday, June 15, 2011

Current Singapore property market


Hongkong Land eyes further growth in Singapore, Indonesia

Dated: June 14, 2011
ABOVE: A view of the Central Business District in Singapore in this file photo of September 23, 2008. Hongkong Land is focusing on commercial projects in overseas markets such as Singapore and Indonesia to fuel future growth. – Reuters pic

SINGAPORE, June 14 – Hongkong Land is focusing on commercial projects in overseas markets such as Singapore and Indonesia to fuel future growth because of the limited supply of land at home, a company executive said today.
Hongkong Land, the biggest landlord in Hong Kong’s central district and a part of the Jardine Matheson Group, said upside for office rentals in the city centre was limited as already sky-high rents could force companies to relocate to more affordable areas.
However, a report last week by real estate agency Savills said that it expected office rents in the heart of Hong Kong will rise as much as 55 per cent this and next year combined. Non-core districts will see office rents rise by 40 per cent during the same period.
Hong Kong has replaced London as the most expensive office location in the world, DTZ said, with rents for prime office space going at US$1,877 (RM5,690) per square metre a year, compared to US$952 per square metre a year in Singapore.
“We will still continue to see a little bit of upside but it becomes a question of affordability,” Robert Garman, an executive director at Hongkong Land said in an interview.
As a result, Hongkong Land is seeking to expand more in overseas countries such as Singapore, where the government has been more aggressive in reclaiming land around its central business district.
“Singapore is a very key market and in the future you’re going to see a lot more growth here because you’ve got a large reservoir of land that the government has created to sustain that growth,” Garman said.
He added that he expects Singapore’s office sector to see more rental upside over the next 12-18 months as compared to Hong Kong, fuelled by strong demand from the financial services and commodities sectors.
“Rents in Singapore are still relatively inexpensive compared to Hong Kong so people will look to future growth here. There’s also more availability of good quality office in Singapore, and that’s why we’re more keen on expanding here,” Garman said.
In Singapore, Hongkong Land owns stakes in developments such as the Marina Bay Financial Centre and One Raffles Quay, which it jointly developed with Keppel Land and Cheung Kong.
About 15-20 per cent of Hongkong Land’s total gross asset value comes from its Singapore properties, but Garman said he expects this to increase in the coming years.
It has about 1.3 million square feet of completed properties in Singapore and another 400,000 square feet of upcoming office space next year.
After Hongkong Land launches the third tower at Marina Bay Financial Centre in April, it will have no further commercial projects in its pipeline but it plans to acquire more land that are in close proximity to its existing developments in Singapore’s central business district, said Garman.
However, he did not rule out developing offices outside of Singapore’s downtown area if their existing tenants, such as banks, require more office space in non-prime areas for back-end services.
Besides Singapore, Hongkong Land is also planning to develop more sites in Jakarta, Indonesia, as demand for office space is expected to grow with the country’s booming oil and gas and commodities industries.
“Indonesia’s market has picked up significantly, so we’d like to expand our business there,” said Garman.
Hongkong Land has acquired a 50 per cent stake in Jakarta Land, which owns 800,000 square feet of prime office space in the city’s central business district.
“I see all the sectors there expanding. In the field of oil and gas and commodities, we’re seeing quite a large amount of growth. We’re also seeing local banks improving their accommodation in Jakarta,” Garman added. – Reuters


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Sunday, June 12, 2011

I'm in Twitter, Facebook and YouTube...Latest: In Google+

Latest in Google+ under pseudonym Vulcan Lau. Google+ is under invitation only(the same with gmail account). If you want Google+ account invitation do email me at Vulcan.Lau@gmail.com

This served to inform you that I'm officially in Twitter under VulcanLau and to go to Twitter do click the link on right hand column under FOLLOW ME ON TWITTER(press TWEET). Alternatively you could click: twitter.com/@vulcanlau to follow my postings.

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For YouTube under "Vulcan International's Channel." To enjoy YouTube do click the link on right hand column under VULCAN INTERNATIONAL'S CHANNEL(press Movie Channel). Alternatively you could click: www.youtube.com/VulcanInternational to enjoy movie channel. Select your relevant movie to view.

Note: If you're using Mobile version you might not be able to see the links, you need to change to Web version by scrolling all the way down. This blog is now able to cater for Mobile version and Web version.


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Office space for rent...Looking for genuine tenant

(1) Office space for rent. Location: Pulau Tikus area, Penang Malaysia. Space available is 50,000 square feet. Literally the whole 5 storey building with guard house. Looking for interested genuine tenant.

Total of 93 carpark lots available.

It could be used for nursing school/college.

(2) Office space for rent. Location: Green Hall area, Penang Malaysia. Suitable for offices as it's situated at business center. Ideal for advocate/solicitor to setup their offices as it's walking distance to court. Space available is 10,000 square feet.



If you're interested do contact Vulcan at mobile no: +6 016 451 1321.


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Tuesday, June 7, 2011

118 at Island Plaza (Commercial Suites)



Island Plaza at Tanjung Tokong, Penang, Malaysia






Plan Layout
Keynote: Total units is 106.
If you're interested do contact Vulcan at mobile no: +6 016 451 1321


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Wednesday, June 1, 2011

Dua Sentral(NEW upcoming project at KL city)



UPDATE as of 1-June-2011:
Currently Dua Sentral project enjoyed 81% sellout rate. There're three types of scenery view available. However KL skyline city view has been sold out. Currently available is PJ skyline view and swimming pool view. This piece of property is rating at Value Buy.
If you're interested do contact Vulcan at mobile no: +6 016 451 1321.


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