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The Straits Times  |  March 30, 2013 Most have smaller stock of units now despite bumper site release by Govt Robust sales of new private homes have depleted the landbanks of most developers, amid a period of intense competition for new sites. A survey shows that 16 of the 27 major builders have a smaller store of development land now, compared with January last year. The fall comes despite the bumper supply of sites released by the Government over the past year. Moreover, 19 developers had fewer than 1,000 apartments left in their landbanks as of the end of last month, according to the survey by DTZ Research. A further seven developers had between 1,000 and 2,000 units. The numbers do not take into account strong home sales this month, which should deplete landbanks even more. A landbank comprises unsold units - including executive condominiums - from projects with planning approval and estimated number of units from sites yet to obtain approva

The Straits Times  |  March 30, 2013 Economy seen to rebound from slow start, ahead of ministry's Q1 forecast Singapore's economy may have got off to a less than stellar start to the year, but economists expect a modest recovery as the year unfolds. Ahead of official first-quarter economic growth data, they are sticking with fairly upbeat full-year forecasts. Most expect gross domestic product (GDP) growth of 1 per cent to 3 per cent or so - broadly in line with the official forecast. Preliminary GDP first-quarter data will be released by the Ministry of Trade and Industry within the next two weeks. This follows a string of poor economic data recently, with last month recording weak exports and factory output and higher than expected inflation. "Global demand is likely to recover, giving us some support at a time when restructuring pains will be intensifying," said chief executive of Centennial Asia Advisors Manu Bhaskaran.

Channelnewsasia.com  |  Posted: 29 March 2013 1845 hrs SINGAPORE: The government's S$450 million compensation package for the acquisition of Pearls Centre is fair, say analysts Channel NewsAsia spoke to. However, some tenants who did not receive an ex gratia or goodwill payment are appealing to the authorities. Compensation for properties at the multi-storey Pearls Centre varies. According to Pearls Centre management, for commercial units facing the road, the compensation is S$9,000 per square foot. Shops that are near the escalator get S$3,000 per square foot. Other areas get at least S$1,200 per square foot. As for residential properties, the figure is S$1,100 per square foot. Analysts say the compensation is reasonable. Christine Li, head of research and consultancy at OrangeTee, said: "As the government has not been topping up commercial leases for quite some time, developers are not really prepared to pay today's

Channelnewsasia.com  |  Posted: 29 March 2013 0012 hrs SINGAPORE : Singapore's prime shopping belt Orchard Road is set to see its first new hotel in two years. The new Holiday Inn Express is slated to open in the second quarter this year. Another new 500-room hotel located at the upcoming new mall Orchard Gateway is expected to receive its first guests in the second quarter of next year. After a number of new shopping malls have set up shop along Orchard Road in the last few years, new hotels are now coming up along the prime shopping belt. Slated to open in the second quarter of next year is the hotel in Orchard Gateway to be managed by Traders Hotel. Analysts said the global financial crisis and the manpower constraints in the construction industry have contributed to the lack of new hotels coming up on Orchard Road in the past few years. However, patience does pay off. Robert McIntosh, executive director for Asia Pacific at CBRE