Singapore has beaten Paris, Oslo, Zurich, Sydney and Tokyo to become the world’s most expensive city for expatriates to relocate to, says the latest Worldwide Cost of Living survey by the Economist Intelligence Unit (EIU). The biannual survey compares the prices of products and services of more than 160 items such as food, clothing, transport, private schools and domestic help in more than 130 cities in nearly 90 countries. The strong currency and growing inflation boosted Singapore to its top ranking, while Tokyo slipped to sixth place. The survey helps human resource managers and expatriate executives compare the cost of living in the cities covered, as well as to calculate fair compensation policies for relocating employees.
Tuesday, March 11, 2014
Monday, March 10, 2014
International Healthway Corporation (IHC) has agreed to acquire a property located in Melbourne, Australia, for A$45 million ($51.8 million).
The property at 553 St Kilda Road is a seven-storey office building, which has a 183-space basement carpark.
Located on a site area of 3,044 square metres, it has a net leasable area of 10,170 sqm and is currently fully occupied.
The acquisition marks IHC's first foray into Australia, broadening its portfolio of properties in countries that include Malaysia, China and Japan.
Ascendas, the developer of business parks,has signed a memorandum of understanding (MOU) with China's Ping An Trust to explore real-estate opportunities in the region.
Under the MOU, both sides will cooperate in areas such as co-investment opportunities in China and other key Asian markets, and the setting up of yuan-denominated funds.
Ping An could also look into leasing space in Ascendas' properties, the developer said.