The Macau Metro Monitor, June 24th, 2010
MELCO CROWN FOCUSES ON MACAU macaubusiness.com
CEO Lawrence Ho reiterated his focus on the Macau market, in particular CoD and investment opportunities in Macau. Stressing management efficiency can increase profitability, even with fewer tables, Ho supports the government's decision to cap gaming tables. Melco currently has 100 tables less than it initially did.
RATE OF INCREASE IN S'PORE HOUSING PRICES SLOWS DOWN channelnewsasia.com
The rate of increase in housing prices in Singapore slowed down in 2Q 2010, according to property consultancy firm DTZ. DTZ attributes this to high asking prices and poor stock market performance. The only exception was in the mass market segment where prices of secondary condominiums and apartments went up further compared to the previous quarter. DTZ said the comparatively higher prices of new developments and aggressive bids for government land sales (GLS) sites in the suburban areas had a cumulative effect on raising the prices of homes in the secondary market.
Ms Chua Chor Hoon, Head of DTZ South-east Asia Research, noted that developers are likely to tone down their land bids in view of the unprecedented high number of suburban sites to be sold in the GLS in the second half. She said this will keep a check on prices of mass market homes going forward.