Singapore Property By Mark Tan R032504C -Expat Relocation Agent-CONDO/HDB/Buy/Sell/Rent/Mgmt

Archive for January 1st, 2010

Dakota Residences For Sale @ Dakota Crescent

Posted by Singapore Property Match on January 1, 2010

In a pristine corner of the eastern quarters in Singapore lies an address you will be proud to call home. An outstanding location that places all you need and want in life at your fingertips, Dakota Residences is perfect for your exemplary lifestyle. Impressive views and superb connections frame this undisturbed oasis presenting you with the best of all worlds.

Dakota Residences comprises 348 units ranging from two-, three-, four- bedrooms and penthouse apartments. It is located adjacent to a river with a view overlooking the landed houses of Mountbatten Road.

Residents and visitors are welcomed into the development with a grand drop-off amidst a lavish cascading waterscape. The architectural design of the residential towers is a composition of planes and lines, lending itself to a striking fa?ade of linear striations. The full height glazing at the living areas expands the space visually to the extent of the balconies, integrating the external with the internal seamlessly whilst offering uninterrupted views to the cityscape beyond.

The development is centrally located and it is 5 minutes walk away from the future Dakota MRT Station. The World-Class Sports Hub and East Coast Park are only a few minutes’ drive away, while the Central Business District is about 5 minutes away. The development promises a lifestyle of leisure and convenience offering serene respite from the busy city while maintaining ease of accessibility. With Dakota and Mountbatten being an up and coming residential estate, purchasers would definitely be looking out for this river-edge condominium.

Next to future Old Airport Road Dakota MRT.Dakota MRT at your doorstep5 mins to Marina Bay Sands Integrated Resort5 mins to Suntec City5 mins to Esplanade4 mins to Sinapore Flyer4 mins to F1 Circuit2 mins to Singapore Sports Hub7 mins to Marina Barrage5 mins to Marina Bay Golf Course5 mins to East Coast Park4 mins to Parkway Parade 2 mins to Kong Hwa School1 min to Old Airport Road Food Centre 17 mins to Changi Airport.

Dakota Residences
At the heart of all that mattersIn a pristine corner in eastern Singapore lies an address that you will be proud to call home. An outstanding location that places all that you need and want in life at your fingertips, Dakota Residences is perfect for your exemplary lifestyle. Impressive views and superb connections frame this undisturbed oasis, presenting you with the best of all worlds.

Dakota Residences comprises 348 units, offering two- to four-bedroom units and penthouses. It is located adjacent to a river with a view overlooking the landed houses in the Goodman Road area.

Residents and visitors are welcomed into the development with a grand drop-off amidst a lavish cascading waterscape. The architectural design of the residential towers is a composition of planes and lines, lending itself to a striking façade of linear striations. The full height glazing at the living areas expands the space visually to the extent of the balconies, integrating the external with the internal seamlessly whilst offering uninterrupted views to the cityscape beyond.
 
Developer: Rivershore Pte Ltd
Location: Dakota Crescent
Property Type: Condominium
Total Units: 348 Units
Expected TOP Date: 31 July 2011
Tenure: 99 years with effect from 11 September 2007

The setting of Dakota Residences is specifically designed to evoke the atmosphere of a modern lifestyle resort. Set amidst stunning urban views, the lush yet contemporary landscapes provide a tactile contrast. Sloping, cascading water features, sculptured collections of granite and exquisite details help create a soothing mood.

A lush, spa-like setting distinguishes the gymnasium, which comes complete with a mineral spa pool equipped with full hydrotherapy facilities. Dakota Residences is outfitted with all the amenities that you would expect in a luxury condominium, including barbecue areas, a 40-metre lap pool, a lounge pool with aqua gym, a sun-tanning deck, a clubhouse, a jogging circuit and more.

The development is centrally located and the proposed Dakota MRT Station is just right at the doorstep. Prestigious schools such as Kong Hwa School and Chung Cheng High School are also located within one kilometre. The World-Class Sports Hub and East Coast Park are only a few minutes’ drive away, while the Central Business District is less than ten minutes away.

The development promises a lifestyle of leisure and convenience offering serene respite from the busy city while maintaining ease of accessibility. With Dakota and Mountbatten being an up-and-coming residential estate, purchasers would definitely be looking out for this river-edge condominium.

Dakota Residences is a development not to be missed!  

E-mail vrealtor@gmail.com

SMS 9090-8533 Mark Tan

New 19-Storey Dakota Residences.
Your very own Private Sanctuary in the East.
==
348 units.
99 yrs leasehold. D14.
TOP Aug 2010
Located @ Dakota Crescent (off Old Airport Road).
3 mins walk to Dakota MRT station (Circle Line).
5 mins drive to CBD, Suntec City, Esplanade & East Coast Park.
Direct easy access to PIE, ECP & KPE.
Near good schools – Kong Hwa Primary & Chung Cheng High School.
==
40m Lap Pool / Children’s Pool
Spa Sanctuary
Lounge Pool with Aqua Gym
Gym / Steam Rooms
Clubhouse
Suntan Deck
Reflexology Footpath
Children’s Play Zone
Amphitheatre
BBQ Area
Jogging Track
Outdoor Fitness Corner
==
3bdrm – 1300 sqft (almost sold out)
3+1bdrm – 1700 sqft (unblocked river view)
4bdrm – 1900 sqft (unblocked river view)
==
Dakota Residences Condo @ D14 – Unblocked River View!

Your Very Own Private Sanctuary in the East.

* 3 mins walk to Dakota MRT (Circle Line)

* 5 mins drive to CBD, Suntec City, Esplanade & East Coast Park.

* Direct easy access to PIE, ECP & KPE.

* Good rental potential

* Unblocked river view

* Within 1 km of Kong Hwa Primary School

* High quality finishes

CHOICE 3+1 AND 4BR UNITS AVAILABLE. CALL NOW TO BOOK YOUR UNIT !!

Location : Dakota Crescent
Developer : Ho Bee Investment Ltd & NTUC Choice Homes
Tenure : 99 yrs Leasehold
Expected TOP : August 2010
No. of Units : 384

==
40m Lap Pool / Children’s Pool
Spa Sanctuary
Lounge Pool with Aqua Gym
Gym / Steam Rooms
Clubhouse
Suntan Deck
Reflexology Footpath
Children’s Play Zone
Amphitheatre
BBQ Area
Jogging Track
Outdoor Fitness Corner

In a pristine corner of the eastern quarters in Singapore lies an address you will be proud to call home. An outstanding location that places all you need and want in life at your fingertips, Dakota Residences is perfect for your exemplary lifestyle. Impressive views and superb connections frame this undisturbed oasis presenting you with the best of all worlds.

Dakota Residences comprises 348 units ranging from two-, three-, four- bedrooms and penthouse apartments. It is located adjacent to a river with a view overlooking the landed houses of Mountbatten Road.

Location: Dakota Crescent
Tenure: 99 year leasehold
Expected Completion: 31 August 2010
Development: Five Blocks of 19 storey residential building
Total Units: 348

Unit Types:
2 bedroom ~ 1023-1119sqft
3 bedroom ~ 1292-1744sqft
4 bedroom ~ 1830-1970sqft
Penthouse ~ 2605-3714sqft

Facilities: Swimming Pool, Wading Pool, Waterfall Pool, Playground, Gymnasium, Jogging Track, BBQ, Meeting Rooms, Basement Parking, Security 24hr, Amphitheatre

Residents and visitors are welcomed into the development with a grand drop-off amidst a lavish cascading waterscape. The architectural design of the residential towers is a composition of planes and lines, lending itself to a striking fa?ade of linear striations. The full height glazing at the living areas expands the space visually to the extent of the balconies, integrating the external with the internal seamlessly whilst offering uninterrupted views to the cityscape beyond.

The development is centrally located and it is 5 minutes walk away from the future Dakota MRT Station. The World-Class Sports Hub and East Coast Park are only a few minutes’ drive away, while the Central Business District is less than 10 minutes away.

Dakota Residences promises a lifestyle of leisure and convenience offering serene respite from the busy city while maintaining ease of accessibility. With Dakota and Mountbatten being an up and coming residential estate, purchasers would definitely be looking out for this river-edge condominium.

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Regency Park resale prices cross $1,700 psf

Posted by Singapore Property Match on January 1, 2010

Regency Park may be 19 years old, but the 292-unit condominium has recently been on the radar of property investors. On Nov 20, three caveats were lodged for its units, with average prices ranging from $1,584 to $1,727 psf.

Alexz Wan, an associate with Propmax Real Estate and a property marketing agent who specialises in the project, says investors are betting that new launches in the neighbourhood will be priced higher. In the prestigious Nathan Road enclave, TID Pte Ltd (a joint venture between Hong Leong Holdings and Mitsui Fudosan) is likely to launch a 65-unit development next year, and Kajima Overseas Asia has an empty plot in the neighbouring Bishopswalk, which has yet to be launched. Regency Park is easily the largest development there, sitting on a sprawling freehold 500,000 sq ft site on Nathan Road, and is accessible via Grange and River Valley Roads.

In the River Valley Road neighbourhood, CapitaLand’s 127-unit Latitude (formerly Drag- on View Mansion) on Jalan Mutiara, was relaunched in July, and units have been sold at $1,662 to $1,930 psf. The most recent caveats in the development were in October, when two 1,615 sq ft units were sold for $2.781 million ($1,722 psf) and $2.965 million ($1,836 psf) respectively.

The attraction of Regency Park is the size of the units, with three-bedrooms ranging from 2,228 to 3,283 sq ft; four-bedrooms from 3,455 to 3,649 sq ft; and penthouses at 6,049 to 6,415 sq ft. The units are sought after by Caucasian expatriates because of their spaciousness and large balconies, says Wan.

Depending on layout, unit size, condition of the apartment and views, monthly rental rates are $11,000 to $12,000 for some of the three-bedroom apartments, and $14,000 to $16,000 for four-bedroom apartments, says Wan. “Most of the owners in the project are professional investors,” he adds. “They really take care of their apartments.”

Wan is marketing three units in the project, ranging from a 3,175 sq ft three-bedroom apartment going for $5.18 million ($1,631.50 psf) to a four-bedroom 3,649 sq ft unit priced at $6.5 million ($1,781 psf). Most of the potential buyers are looking at cash flow and capital-upside potential, says Wan.

Knight Frank associate Benny Yeo is marketing a 2,269 sq ft apartment at Regency Park with an indicative price of $4 million. The unit is currently tenanted at a monthly rental rate of $9,200, with at least another year outstanding in the lease, says Yeo. “A lot of Indonesians are investors in this property, and a lot of the interested parties in the project today are also Indonesians,” he says, adding that the main attraction are the large unit sizes and the ease of renting the units out, with very short vacancy periods between leases.

Regency Park was developed by Allgreen Properties almost two decades ago and positioned as a high-end condo with only large units starting from the three-bedroom apartments. Most recently, a sixth-floor 3,649 sq ft four-bedroom apartment was sold for $6.3 million, or $1,727 psf, according to a Nov 20 caveat lodged with URA Realis. That was the third time the apartment had changed hands in the last 13 years. There could have been more transactions, but URA Realis database records go back only to January 1995.

The last time the four-bedroom unit changed hands was in May 2007 for $6.2 million, or $1,699 psf. The previous owner had purchased the property in a resale at $3.825 million, or $1,048 psf, in March 1996, an appreciation of 62% in slightly over a decade.

The other unit at Regency Park that changed hands in the resale market recently was a second floor 2,260 sq ft, three-bedroom apartment sold for $3.58 million, or $1,584 psf, in November. The last time the unit changed hands was in November 2006, when it was sold for $2.68 million, or $1,186 psf — a 33% capital gain in the last three years. The unit last changed hands in September 1999 for $2.18 million, or $964 psf.

The transaction prices of Regency Park apartments have made quite a comeback since the start of the year. When the market was looking rather bleak in the first four months, units were changing hands at $1,001 to $1,178 psf. Transaction prices picked up in August, when apartments changed hands at $1,494 to $1,603 psf.

Farther down Nathan Road is the 91-unit boutique development, Nathan Residences, by niche developer Tat Aik Property. It was launched in June at $1,200 to $1,300 psf. In the most recent new sale at Nathan Residences, a 786 sq ft two-bedroom apartment on the fourth floor was sold for $974,850, or $1,241 psf. The highest transacted price for the new project, scheduled for completion in 2012, was for another two-bedroom apartment of a similar size on the 11th floor, sold for $1.13 million, or $1,450 psf, in September. “[Nathan Residences] is a different kind of product and appeals to a different audience. It’s a boutique development with mainly one and two bedroom apartments,” notes Wan.

In the meantime, it looks like foreign investors are gravitating towards the large three and four bedroom apartments at Regency Park, and paying a premium for space.

Source : The Edge – 21 Dec 2009

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From ‘deep winter’ to a ‘hot summer’

Posted by Singapore Property Match on January 1, 2010

From ‘deep winter’ to a ‘hot summer’

By Joyce Teo

IT WAS the rally that should never have happened. The world was in recession, credit was being crunched, investors across the board were in a state of near panic, yet no one seemed to have told real estate buyers.

After a tentative few months early in the year, property found its feet and staged the sort of upswing normally associated with economic booms, not near-busts.

Table: ST

Indeed, this year saw a recovery of Singapore’s residential market, said Frasers Centrepoint chief executive Lim Ee Seng.

‘We expected 2009 to be a very bad year for us but it turned out to be a good year,’ said EL Development managing director Lim Yew Soon.

Jones Lang LaSalle’s head of research for South-east Asia, Dr Chua Yang Liang, agreed: ‘It’s been a remarkable year – with transaction and pricing outperforming expectations, driven by latent demand, low interest rates and primed by lower pricing.’

Sales and prices of new private homes picked up significantly from April, a turnaround from the first quarter when sellers were cutting prices just to offload their homes.

As the private homes market swung quickly from despondency at the start of the year to ‘unwarranted enthusiasm’ in the middle, this year turned out to be a ‘record-breaking’ one, said DTZ head of South-east Asia research Chua Chor Hoon.

Record quarterly and monthly highs were achieved for launches and sales of new private homes while some new launches outside the city area sold at record prices, said Ms Chua.

Centro Residences in Ang Mo Kio, for instance, sold for more than $1,100 per sq ft (psf) – a suburban record.

Resale landed homes in prime districts also hit record prices while resale mass market home prices rebounded within two quarters to reach 2007 peak levels, Ms Chua added.

The four seasons

‘ONE of the hot topics this year was climate change, and if you apply that to the property market, it went through the four seasons for the first time ever,’ said Knight Frank chairman Tan Tiong Cheng.

The market is now in a ‘mild winter’ state, after a hectic year with an unusually hot summer, he said.

It started the year in deep winter – with only 108 new homes sold in January – the worst monthly sale figure on record. The mood was clearly grim.

Then came spring and sales quickly started to rise in February, easily pushing past the 1,000-unit mark to reach 1,332 units. March was similarly positive at 1,220 units.

By the time summer rolled around, market sentiment had improved tremendously.

Despite the heat, buyers were queueing outside showflats, eagerly awaiting their turn to pick a mass market unit.

Showflats of newly released projects aimed at HDB upgraders were packed to the brim on preview days with investors, singles, couples and families – often with grandparents in tow.

With affordability a key issue, developers turned to producing smaller and smaller units to satisfy those looking for an ‘affordable’ total outlay; never mind that the psf price may be high.

EL Development’s Mr Lim said: ‘Developers had to react to the market very fast. We were lucky to switch to small units for Illuminaire fast. Otherwise, we won’t be able to sell it out and at the price we achieved.’

Sales of new homes kept rising each month, culminating in a monthly record of 2,772 units in July.

‘We were supposed to be in a recession. The Government was talking about job losses which hit the lower-income group,’ said Knight Frank managing director, residential services Peter Ow.

‘Given the bleak outlook at that point, the momentum was surprising. It shows that you can never underestimate the purchasing power of the upgraders.’

Considering that the 2006-07 boom was led by the high-end segment with foreigners buying up a storm, many doubted the ‘bottom-up’ recovery was for real.

But it kept going strong amid concerns that a property bubble might be developing.

Government made its move

THAT prompted the Government to step in with anti-speculative measures in September.

It took away the interest absorption scheme, which allows buyers to defer payment until the project is completed, and said it will push out more supply.

An Urban Redevelopment Authority sample survey of recently launched projects showed that the average take-up rate of the interest absorption scheme was about 20 per cent to 25 per cent.

Property experts said at the time that the measures were minor and meant to get buyers to think twice about committing.

The Government continued to warn of the possibility of the market overheating. What followed seemed to suggest the measures had worked to some degree.

Signs of speculation disappeared, launches slowed and buyers were no longer rushing into new showflats to check out the latest launch and commit their cash.

Sales of new private homes slipped to 600 units last month, the second-lowest monthly sales this year.

But Jones Lang LaSalle’s Dr Chua feels the market will not see the full effect of the measures until early next year as activity traditionally winds down towards Christmas.

Ngee Ann Polytechnic lecturer Nicholas Mak believes there is a slowdown because developers have more or less run out of mass market projects while the high-end segment has yet to take off.

Looking ahead

EXPERTS say the slowdown – what DTZ’s Ms Chua describes as a ‘quieter and more rational mode’ – is a good thing.

It is a precursor to next year’s trend when the market is generally expected to revert to normal in terms of sales and upward price movements.

The bet is on a pick-up in the high-end segment as it has yet to push near previous peaks, experts say. With the opening of the two integrated resorts, more foreigners are expected to enter the Singapore market.

Dr Chua believes the high-end segment is likely to outperform the mass market on two levels.

Firstly, buyers of high-end homes are not so dependent on interest rates, which have been one of the key drivers in the mass market.

‘I reckon there is an upside to the currently low interest rates as we go into the second half of 2010 and that is likely to keep mass market activity in check,’ he said.

‘Secondly, regional economies have been performing better than expected and we can expect some of the higher-income foreigners to return to the Singapore market by the second to third quarter of 2010.’

Dr Chua does not expect a buying surge but more moderate growth.

‘I would describe the period since the collapse of Lehman Brothers in the later half of 2008 as that of a landscape of rolling hills. And now as we ascend, no one can really see what lies behind the knoll,’ he said.

This article was first published in The Straits Times.

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Tianjin Eco-City project progressing remarkably well

Posted by Singapore Property Match on January 1, 2010

WE REFER to Sunday’s report, ‘Rumblings in Tianjin Eco-City’. The raison d’etre for the eco-city collaboration is different from Suzhou Industrial Park, which was conceptualised over 15 years ago, when China was at a different phase of economic development.

In Singapore’s collaboration with China to jointly develop the eco-city, we recognise that China has adopted a ’scientific model of development’, which emphasises sustainable development and social harmony.

The Ministry of National Development (MND) is the lead agency for the eco-city project, as the focus is on sustainable development and urban solutions. Other ministries and agencies, including the ministries of Trade & Industry and Environment & Water Resources, play an important role through various inter-agency committees set up to drive the project, under a whole-of-government approach.

All parties involved in the project share the same goal and vision of making the eco-city a model for sustainable development. The eco-city has progressed well. It has attracted over 30 billion yuan (S$6 billion) worth of investments from international and regional developers.

The report raised a concern about the eco-city’s profitability. Indeed, commercial viability is a key guiding principle. This is why the project is executed by a commercial 50-50 joint venture formed by the Singapore and Chinese consortiums, or Sino-Singapore Tianjin Eco-City Investment and Development (SSTEC). The Singapore consortium’s confidence in the eco-city is reflected in Keppel being the first foreign property developer to have broken ground for a 5,000-unit residential-cum-commercial project.

Building the eco-city from scratch is challenging. Yet, within a short period of two years since it was mooted, we have managed to achieve more than was expected. This demonstrates the close collaboration and warm relations at all levels. We expect the collaboration and cooperation between Singapore and Tianjin in the eco-city to become even stronger.

Your correspondent quoted an unnamed Singaporean saying, ‘We may have another Suzhou Industrial Park tangle in our hands’. Such a comment is inappropriate. It is not unusual for differences in views for any joint project, especially at an early developmental phase. They are discussed and resolved at the various coordinating fora established for the project. The report also quoted various unnamed officials. It is regrettable that your correspondent did not formally approach MND or SSTEC for clarifications on the points of concern highlighted.

Ong Beng Lee
Director, Eco-City Project Office
Ministry of National Development

Goh Chye Boon
CEO
Sino-Singapore Tianjin Eco-City Investment and Development

Source : Straits Times – 1 Jan 2010

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$106m in utility rebates for 800,000 HDB households

Posted by Singapore Property Match on January 1, 2010

ABOUT 800,000 HDB households will receive $106 million worth of utilities U-Save rebates in 2010. The first payout amounting to $60 million will be made in January, with a second payout to be made in July.

According to the schedule released by the Ministry of Finance (MOF) yesterday, one-room and two-room households will receive $200 worth of rebates this year. Three-room flats will receive $160; four-room flats, $150; five-room flats, $90; and executive flats, $55.

The U-Save rebates are aimed at Singaporeans, and are thus restricted to flats owned by Singaporeans. However, there has been an increase over the last few years in Singapore-owned HDB flats being fully sublet, including to non-citizen tenants.

The scheme has thus been revised from January 2010 onwards, with HDB flats fully sublet to non-citizens being ineligible for rebates.

Singaporean-owned HDB flats which are owner-occupied or sublet to at least one citizen tenant will continue to receive rebates.

‘U-Save rebates are used to offset utility charges directly. The amount of rebates in the forthcoming payout will be reflected in the utility bills for January 2010 of all eligible households,’ the MOF said yesterday.

The rebates are part of the GST Offset Package in Budget 2007 to help Singaporeans cope with the two percentage points increase in the goods and services tax (GST) then. The scheme will cost the government about $620 million over five years from FY2007 to FY2011.

Source : Business Times – 1 Jan 2010

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Work starts on Tianjin eco-industrial park

Posted by Singapore Property Match on January 1, 2010

KEPPEL Group’s joint venture that is managing the bilateral Sino-Singapore Tianjin Eco-City has begun development on a 130-ha Eco-Industrial Park (EIP), located within the eco-city.

The development will cost about four billion yuan (S$0.8 billion) to develop and can draw in four billion yuan worth of investments and create about 10,000 jobs when completed.

The eco-city is managed and developed by Sino-Singapore Tianjin Eco-City Investment and Development Co (SSTEC) – a 50-50 joint venture between a Chinese consortium led by Tianjin TEDA Investment Holding Co and a Singapore consortium led by the Keppel Group.

The SSTEC also inked a 13 billion yuan deal to build a 1.4 million sq m integrated eco community for nearly 13,000 households in the eco-city, as well as a ‘play’ hub for residents and visitors.

The SSTEC officially started work on the EIP yesterday. The first phase of work will be the construction of more than 220,000 sq m of ready-built factories on a 15-ha plot.

These factories, with a typical size of 3,000-5,000 sq m built-up area, will be made available for lease or sale.

Construction of the ready-built factories will commence in phases, starting in the second quarter of this year.

The SSTEC said that the factories will satisfy strong market demand from local and foreign investors who have expressed interest in establishing manufacturing facilities to serve the eco-city and the surrounding market.

The EIP, located at the northern region of the eco-city, is meant to be the first of its kind eco-industrial park in China. It’s positioned to be the premier eco manufacturing base for eco investors in the Bohai Rim area and to be built completely in compliance to the eco-city’s green building standards.

The building and construction of the park will adopt eco-friendly strategies such as the optimisation of building layouts, the utilisation of renewable energy and suitable building materials, the recycling of water and waste, the provision of green spaces and the practice of environmentally-friendly construction methods.

The EIP will be home to light clean industries from green business clusters including clean energy, green building, green transport, clean water, clean waste management and clean environment.

It’s believed that these industries can, using the eco-city as a base, tap on growing eco-business opportunities in fast-growing Tianjin Binhai New Area – within which the eco-city is located – and northern China.

Together with the Eco-Business Park, launched in June last year, the EIP is expected to create about 25,000 job opportunities, attract new residents to the eco-city and generate significant economic spin-offs.

The eco-city itself is meant to be a sustainable community for 350,000 residents, when completed.

In related news, the SSTEC also inked an 13 billion yuan agreement with Farglory Land Beijing, Taiwan’s largest developer, to build a 1.4 million sq m integrated eco community for nearly 13,000 households in the eco-city, as well as a ‘play’ hub for residents and visitors.

It aims to convert the site of an old fishing village, the Qing Tuo Zi (QTZ) village, to an upmarket commercial development of about 20 ha – which will make it the largest commercial development as well as the cultural centre of the eco-city.

Goh Chye Boon, CEO of SSTEC said: ‘We are confident that this collaboration with Farglory to develop the QTZ village will create an unique value proposition that will not only cater to the needs of our residents but also draw visitors from near and far to become one of the eco-city’s main tourist attractions.’

‘This infusion of modern ideas and solutions with the Chinese rich tradition of harmonious living will create an integrated commercial and residential development that will stand out from the other developments of the eco-city and Tianjin Binhai New Area,’ he added.

Source : Business Times – 1 Jan 2010

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