Friday, January 16, 2009

Daily news - 16 Jan

Developer sales plumb new depths
Home sales hit record lows in 2008 as developers sold just 4,351 homes, representing the lowest figure in at least 10 years (previous lows were 5,156 and 5,520 units in 2003 and 1998 respectively). The figure is also significantly lower than the annual 10-year average of 8,200 units. Last month, developers recorded just 131 transactions, with only 157 units being launched. Some developers are still preparing developments for launch. UOL is expected to launch a 646-unit development at Simei Street 4, billed as a luxury condominium for upgraders in 1H09. Frasers Centrepoint is also said to be preparing to launch Caspian, a 712-unit development on Boon Lay Way. Far East Organisation is said to be readying its launch of a development in Choa Chu Kang this year.

Sembcorp looks set to win billion dollar Oman deal
SembCorp Industries looks on course to win its second multi-billion dollar power and desalination project in the Middle East, having reportedly just been named 'preferred bidder' for the US$1 billion-plus Salalah independent water and power project (IWPP) in Oman. Specialist publication MEED, or the Middle East Business Intelligence, reported this on Wednesday, following an earlier report this week by Infrastructure Journal which said that Omani officials had told Sembcorp that it would be named as the IWPP's preferred bidder 'imminently'. It suggests that Sembcorp's joint venture with Oman Investment Corporation (OIC) has been chosen from the final grouping of three contenders for the project. Sembcorp when contacted yesterday declined comment at this time. Its bid to undertake the Salalah IWPP began early last year, with the Omani government whittling down a list of eight prequalified international groups to just three in July.

Source: Kim Eng

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