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Real Estate

Prefabricated bathrooms, units for all Singapore new flats by 2019

THE Housing Development Board (HDB) says it will improve construction productivity through a greater use of prefabricated units that are assembled off-site but that can be installed on-site. This would drive HDB’s construction productivity on a larger scale, setting it on track to achieve a productivity improvement of 25 per cent by 2020, compared with 2010. One of the initiatives ...

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Vancouver home sales surge a year after foreign buyers tax

[OTTAWA] Vancouver home sales and prices jumped in August from the year before on heightened demand for less expensive condominiums and town homes, the Real Estate Board of Greater Vancouver said in a report on Tuesday. Prices in Canada’s most expensive market were up 9.4 per cent from a year ago, putting the benchmark price for a typical property at ...

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Blackstone cancels sale of Australian shopping malls

Sydney PRIVATE equity giant Blackstone Group has called off the sale of its A$ 3.5 billion (S$ 3.8 billion) Australian shopping mall portfolio, a source said, as the looming arrival of Amazon.com spooks buyers of bricks-and-mortar stores. With no interest in the entire 10-mall Let’s block ads! (Why?) … The Business Times

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CapitaLand widens Indonesia footprint with serviced residence acquisition

REAL estate group CapitaLand on Wednesday said in a filing with the bourse operator that it further expands its footprint in Indonesia by investing S$ 74.3 million in a 192-unit serviced residence, Ascott Sudirman Jakarta, through its wholly owned serviced residence business unit, The Ascott Limited (Ascott). This will be done through Ascott’s global serviced residence fund with Qatar Investment ...

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Florida title attorney gets 40 months in prison for bank fraud, embezzlement, money laundering

A Florida title attorney will spend more than the next three years in prison after being convicted of defrauding several financial institutions, including Bank of America, out of more than $ 3.6 million in a series of schemes over a four-year period. According to the U.S. Attorney’s Office for the Northern District of Florida, Richard Colbert received a 40-month prison ...

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Why Bank of America's Stock Tumbled on Tuesday

It was a tough day for bank stocks, with Bank of America (NYSE: BAC) leading the way. Shares of the nation’s second-biggest bank by assets fell 3.2% on Tuesday. That exceeded the 2.3% drop of the KBW Bank Index , which tracks shares of two dozen large-cap bank stocks. It’s also bigger than the 0.8% drop on the S&P 500 ...

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Wanda bonds hit more on mainland than overseas as risks increase

Shanghai DALIAN Wanda Commercial Properties Co’s onshore bondholders appear more anxious about the developer’s future than their offshore counterparts, debt prices suggest, highlighting investors’ uncertainty about how Chinese authorities will deal with the company. The interest- Let’s block ads! (Why?) … The Business Times

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MBA requests mortgage industry input on unified MISMO closing instructions

The Mortgage Bankers Association announced MISMO, the mortgage industry standards maintenance organization, is requesting feedback from the mortgage industry on its new closing instruction industry standards. The MBA explained the new closing standards will be designed to improve communication and avoid delays during the closing process. Currently, there is no standard lender template for closing instructions which shows how funds should ...

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CoreLogic: Home prices jump 6.7% annually in July

Home prices increased once again in July, making more than one-third of the top 100 U.S. cities overvalued, according to the latest Home Price Index from CoreLogic, property information, analytics and data-enabled solutions provider. Home prices increased 6.7% in July annually from July 2016 and 0.9% monthly from June, CoreLogic’s HPI showed. Click to Enlarge

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Work in a bank, sleep in a bunk: Hong Kong's 'co-living' trend

[HONG KONG] Young finance industry workers are bunking down in dormitory-style accommodation in Hong Kong as “co-living” developments take off in the world’s priciest city for property. An investment banker and a bank intern are among those renting rooms in an upmarket development called Mini Ocean Park Station on the south side of Hong Kong island, said marketing manager Cynthia ...

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