SG Property News | February 27 2025
Singapore property news roundup for Thursday, February 27, 2025. Headlines link to the original publishers.
Singapore private home sales tripled in Q4 2024 amid lower interest rates
The Independent
Singapore minister duo sue Bloomberg, reporter for alleged defamation over property transactions
Malay Mail
Singapore ministers file defamation suits against Bloomberg over property transaction article
The Online Citizen Asia
PropertyLimBrothers: An action-packed year engaging consumers with impactful conventions, insightful seminars and 12,000…
EdgeProp Singapore
Ching Shine Industrial Building up for collective sale at $113 mil
EdgeProp Singapore
Properties, vehicles from S$3 billion money laundering case in Singapore liquidated: minister
The Star Online
Father and son battle it out in court for control for CDL
Edgeprop
A battle for control over City Developments Limited (CDL) between executive chairman Kwek Leng Beng and his son, CEO Sherman Kwek, led to the cancellation of the company’s FY2024 results briefing and a trading halt on the morning of Feb 26. In a statement, the elder Kwek says: “Sherman Kwek, Philip Lee, Wong Ai Ai and a group of directors acting with them, have sought to consolidate control of the board and the group.
CDL board fight cools with undertaking from two new IDs
Edgeprop
The “serious lapses” of corporate governance at City Developments (CDL) have been halted, according to a second statement issued by CDL’s executive chairman Kwek Leng Beng. Following a court hearing on Feb 26, the two new directors, who were “irregularly and hastily appointed” on Feb 7, have undertaken not to exercise any powers as directors until further notice of the court. The new directors refer to Jennifer Duong Young and Wong Su Yen, who were both appointed as independent non-executive…
[Update] Sherman Kwek to remain as group CEO of CDL; finds episode ‘incredibly disappointing’
Edgeprop
In a response to its call for a trading halt earlier this morning, City Developments Limited (CDL) has issued a statement saying the halt was in view of the disagreement within the board in relation to the composition and constitution of the board and the board committees. “Despite this temporary suspension, our business operations remain fully functional and unaffected,” adds CDL in a Feb 26 statement. Sherman Kwek will remain as the group CEO “until such time as there is a board resolution to…
Frasers Property jointly acquires residential site in Shanghai for RMB815.2 mil
Edgeprop
Frasers Property has partnered with two Chinese real estate groups to jointly acquire a residential site in Songjiang District in Shanghai, China.
What To Do When Right-Sizing From A Condo To An HDB Flat In 2025
Stacked Homes
Whether you planned the move from the beginning, or your finances have changed, it’s time for you to switch back down to an HDB flat. This doesn’t just involve lifestyle changes: it may also mean regulatory hurdles like the waiting…