REDAS eHUB
........ connecting you to the real estate industry.
In response to the encouragement given by various government authorities especially InfoCommunications Development Authority (IDA), Real Estate Developers' Association of Singapore (REDAS) is pleased to launch Redas.com, a property portal backed by four decades of brand name both locally and abroad. This Portal is the Portal serving everybody having an interest in the real estate.
Redas.com is a one-stop value-added information centre, a virtual community as well as an electronic marketplace that offers a broad array of services and resources including but not limited to property search engines, market trends, policy updates, on-line purchases of products and services, business message exchange, and links to other trade associations, professional bodies, government agencies and statutory boards in Singapore and the region.
The main features of Redas.com include the following:
* eProperty
* eDirectory
* eInformation
* eCalendar
* eBiz Opportunity
* eAuction
* eFinancing
* eRedas
* ePropLinks
* ePropFAQs
Positioned to be a neutral entity serving the interest of all, the REDAS Portal aims to improve professionalism among real estate players, create a highly efficient, transparent and integrated online community and a Centre for real estate development and investment locally and worldwide.
We hope to synergise and work closely with the government agencies, professional bodies and trade associations. Together, we look forward to serving REDAS members, other professional organisations as well as the general public more effectively and efficiently.
At redas.com, we believe in :
Resource and Reaching Out to all in real estate industry ......
Excellence and Extending Benefits ......
Dynamism and Delivering satisfactory results ......
Alliance and Adding Values to our contents ......
Solution and Servicing our members ......
Monday, April 21, 1997
Saturday, June 29, 1996
40 Percent of China’s New House Prices Paid as Kickbacks
40 Percent of China’s New House Prices Paid as Kickbacks
JUNE 26, 2007 03:16
Although housing prices are soaring annually in China, the Chinese government does not even have official statistics on construction costs.
In protest of the sky-rocketing housing prices, middle-income Chinese even launched a so-called “Don’t Buy Houses Campaign.” However, despite their efforts, housing prices in 70 major cities in China jumped by 6.2 percent last year and, yet, another 6.0 percent in the first quarter of the year. In particular, some of the well-developed cities such as Beijing have been suffering from an annual housing price hike of over 10 percent over the past several years.
Meanwhile, a real estate developer disclosed the costs of building apartments in some cities in China. “Twenty percent of the price tag is the actual cost spent for building apartments. Forty percent is for the profits to the developers and the remaining 40 percent goes to the pockets of related government bodies,” said the local developer, who has been involved in the construction industry since 1992.
He claims that the 40 percent is spent to bribe concerned government officials. He calls this vicious cycle, “The Food Chain of the Gray Industry.”
“When I worked in the Pearl River Delta and Yunnan in 1992, the cost of building apartments was 350 to 400 yuan per square meter. Although 15 years has passed, construction cost remains at about 450 to 600 yuan. However, the prices of houses which used to cost only 1,000 to 1,500 yuan have gone up several times,” he added.
He says that housing prices in major cities like Nanning, Guiyang, and Chengdu where housing prices were about 600 to 700 yuan per square meters in 1990s, have become 4,000 to 8,000 yuan, almost 10 times more expensive.
“If you want to develop a real-estate, you have to share profits with officials of various government bodies related to licensing, planning, auctions and securing lands,” he added. “Although the price of a 40-story building should be cheaper per square meter compared to that of a 20-story building, it is more expensive due to the problem,” the real estate developer said.
“Profits for developers remain only at about 10 percent of new apartment prices in advanced countries. Such food-chain of China is what prevents 70 percent of city residents from purchasing a house,” he said.
JUNE 26, 2007 03:16
Although housing prices are soaring annually in China, the Chinese government does not even have official statistics on construction costs.
In protest of the sky-rocketing housing prices, middle-income Chinese even launched a so-called “Don’t Buy Houses Campaign.” However, despite their efforts, housing prices in 70 major cities in China jumped by 6.2 percent last year and, yet, another 6.0 percent in the first quarter of the year. In particular, some of the well-developed cities such as Beijing have been suffering from an annual housing price hike of over 10 percent over the past several years.
Meanwhile, a real estate developer disclosed the costs of building apartments in some cities in China. “Twenty percent of the price tag is the actual cost spent for building apartments. Forty percent is for the profits to the developers and the remaining 40 percent goes to the pockets of related government bodies,” said the local developer, who has been involved in the construction industry since 1992.
He claims that the 40 percent is spent to bribe concerned government officials. He calls this vicious cycle, “The Food Chain of the Gray Industry.”
“When I worked in the Pearl River Delta and Yunnan in 1992, the cost of building apartments was 350 to 400 yuan per square meter. Although 15 years has passed, construction cost remains at about 450 to 600 yuan. However, the prices of houses which used to cost only 1,000 to 1,500 yuan have gone up several times,” he added.
He says that housing prices in major cities like Nanning, Guiyang, and Chengdu where housing prices were about 600 to 700 yuan per square meters in 1990s, have become 4,000 to 8,000 yuan, almost 10 times more expensive.
“If you want to develop a real-estate, you have to share profits with officials of various government bodies related to licensing, planning, auctions and securing lands,” he added. “Although the price of a 40-story building should be cheaper per square meter compared to that of a 20-story building, it is more expensive due to the problem,” the real estate developer said.
“Profits for developers remain only at about 10 percent of new apartment prices in advanced countries. Such food-chain of China is what prevents 70 percent of city residents from purchasing a house,” he said.
Thursday, June 29, 1995
CapitaLand (CATL.SI: Quote, Profile, Research), Southeast Asia's most valuable developer, plans to launch two more property funds worth a combined S$1
CapitaLand (CATL.SI: Quote, Profile, Research), Southeast Asia's most valuable developer, plans to launch two more property funds worth a combined S$1 billion ($651 million) as part of its financial services expansion.
The group's assets under management would hit S$17-18 billion by the end of the year -- up from about S$14 billion now, Chief Executive Liew Mun Leong said on Monday.
"Our financial services make up less than 10 percent now but I would like our fund fees to be about 15-20 percent of our EBIT (earnings before interest and tax)," Liew told the Reuters Real Estate Summit in Singapore.
"We're still a real estate company essentially, but this would help us in our overall domain knowledge," he added.
The two new property funds, which will join CapitaLand's existing line-up of 10 funds, will invest in India and China with initial funds of S$500 million (US$325 million) each.
CapitaLand, 43-percent owned by Singapore state investor Temasek Holdings [TEM.UL], has been aggressive in expanding its financial services business and controls five real estate investment trusts (REITs), including CapitaMall (CMLT.SI: Quote, Profile, Research) -- Singapore's most-valuable property trust.
Liew said the group could launch another five property trusts based on its global portfolio, which includes office buildings in China and apartments in Japan.
He said CapitaLand's next REIT would likely be one based on its properties in China as its assets there offered high yields.
The group's assets under management would hit S$17-18 billion by the end of the year -- up from about S$14 billion now, Chief Executive Liew Mun Leong said on Monday.
"Our financial services make up less than 10 percent now but I would like our fund fees to be about 15-20 percent of our EBIT (earnings before interest and tax)," Liew told the Reuters Real Estate Summit in Singapore.
"We're still a real estate company essentially, but this would help us in our overall domain knowledge," he added.
The two new property funds, which will join CapitaLand's existing line-up of 10 funds, will invest in India and China with initial funds of S$500 million (US$325 million) each.
CapitaLand, 43-percent owned by Singapore state investor Temasek Holdings [TEM.UL], has been aggressive in expanding its financial services business and controls five real estate investment trusts (REITs), including CapitaMall (CMLT.SI: Quote, Profile, Research) -- Singapore's most-valuable property trust.
Liew said the group could launch another five property trusts based on its global portfolio, which includes office buildings in China and apartments in Japan.
He said CapitaLand's next REIT would likely be one based on its properties in China as its assets there offered high yields.
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