Hundred Palms Residences – EC at Yio Chu Kang launching this year.

This 99 year leasehold site was released back in the second half of 2015 under the Government Land Sales programmes was won by Hoi Hup Realty. The site sites on over 198,000 square foot with a plot ratio of 2.8 has the maximum allowable gross floor area of approximately 555,246 of which will translate to a yield of over a whopping 520 residential apartments.

The tender was held in Feb 2016 and was seen to be very attractive because of the response from the developers. There were a total of tens bids, the highest being over $183 million, which was by Hoi Hup Realty which amounts to approximately S$331.02 per sq ft per plot ratio. This 99 year leasehold parcel is seen by many to be very attractive because it is nestled in mature housing estate and has a pool of potential buyers sitting on the sidelines. Hundred Palms Residences is also close to amenities like Hougang 1 Mall and is within 1 kilometer to the renowned Rosyth School that offers the Gifted Education Programme.

Moreover, no EC sites have been released in Hougang in a long while.

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What is so special about Executive Condominiums?

Executive Condominiums (ECs) are a form of hybrid public housing with the HDB rules regulations in place for the initial purchasers and that these HDB restrictions will be completely lifted 10 years after an EC project has been completed. Property analysts also pointed out that although the site is not next to an MRT station, it is a bus ride or short drive away from Serangoon Station and also enjoys good road connectivity with the Central Expressway within easy reach.

Unlike its private residential condominiums, the supply of ECs is very limited, and the only source of new EC sites is from the Government under their Government Land Sales Programme (GLS). There has been no new parcels that are released for Executive Condominiums (even on the confirmed list in the past two GLS exercises). Bearing in mind the 15-month waiting period from acquiring the site and market launch of the project that developers have to adhere to, ECs will be in short supply in 2017 and 2018. Only three new EC projects are expected to be launched this year, compared to five last year.

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Tampines North – A gem in the making?

This was announced way back in 2013 – The Urban Redevelopment Authority (URA) featured Tampines North in the 2014 Master Plan and it was dubbed as ‘the fresh face of a well-developed area’. Most of us would know that the East of Singapore doesn’t offer anything in terms of the city’s bustle and is more often known for is laidback charm which is well loved by many Singaporeans. Tampines North is expected to over 21,000 new homes with a comprehensive range of facilities including amenities like shopping malls – shaping it up to be even livelier than before.

Tampines North (Master Plan)
Tampines North (Master Plan)

This massive development is over 240-hectres and will be bounded by Tampines Avenue 9, 10 and 12 with the Tampines Expressway (TPE) at the north of the estate. The new town is set to house 21,000 new homes including 17,000 HDB apartments and over 4,000 private homes such as The Santorini at Tampines Avenue 10 – Check out The Santorini Floor Plans. Also, Housing and commercial developments in Tampines North have been grouped into four districts: Boulevard District, Green Walk District, Park West District and Park East District — each with its own distinct character.

The new Downtown Line (DTL). Opening in 2017

Public transport options are aplenty in the current Tampines North, but with the completion of the Downtown Line this year. It will definitely offer residents even more options. The new Downtown Line will offer commuters greater accessibility and reduced traveling time to City and offers direct connectivity to areas like MacPherson or Fort Canning.

Comprehensive and even better amenities

Tampines is already home to the four heartland malls we all know! They are Tampines 1, Tampines Junction, Century Square and Tampines Mall. Not to mention, the proximity of the Tampines North estate is a stone’s throw from megastores Giant, Courts and Ikea. The current Tampines estate will also have a new Town Hub, to include a community club, a library, a stadium, swimming facilities and retail outlets. A mixed development situated at the heart of the estate is set to feature at the upcoming Tampines North Hub which will be home to residential apartments, commercial buildings, as well as a bus interchange.

Green Spaces!

New parks like the Quarry Park and Boulevard will transform the land and allow residents to better use the space. Quarry Park takes references from the history of Tampines, which was once home to many sand quarries pitting in its landscape. As its name suggests, the park will feature a small quarry pond, creating an urban sandy beach landscape. The park will also feature a land bridge, and a pedestrian and cyclist pathway, which will connect the park, and Tampines North, to the rest of the estate. The linear Boulevard Park will form a green corridor, linking Sun Plaza Park and Quarry Park to Sungei Api Api. Developers are hoping to create a “blossoms walk” in the park, with seasonal flowering trees.

Tampines North will certainly offer a new lease of life to the already mature-estate, Tampines. It will add on to the resident’s convenience and better connect to city life. We are excited to see how it will be able to provide a delicate balance of its family-friendly and its old world charm.

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Developers think out of the box to sell condominiums

OUE Twin Peaks

Property developers in Singapore are resorting to creative ideas to sell off their unsold units in the market. In 2016, renowned property developer, OUE Limited, offered various payment schemes for its masterpiece developer at Orchard – OUE Twin Peaks. OUE Twin Peaks features over 460 unit residential apartments that is situated on Leonie Hill Road.

Are these payment schemes legal? – Payment schemes offered by these developers are perfectly legal as the project – OUE Twin Peaks had obtained the Certificate of Statutory Completion (CSC).

Some of the payment schemes includes the delayed payment and deferred payment. For the delayed payment offer, home seekers will only need to put down a 20 percent upfront and complete the option aka exercise by the specific time frame. This is other words, also allow the potential home owners to stand to gain if the government or authorities step in to tweak the current stamp duty system.

For deferred payment, home buyers required to complete a 20 percent down-payment for the issuance of the required documents like the OTP (Option to Purchase) and will complete the payment of the balance two or three years later. This scheme was also offered by many developers back before 2007 before the government stepped in to remove it. The buyers in this instance will then have to exercise the OTP (Option to Purchase) within 14 days and pay their respective stamp duty and additional buyers’ stamp duty. Right after that, they are able to collect the keys to their units and occupy or rent them out immediately.

As OUE Twin Peaks had already obtained CSC (Certificate of Statutory Completion), both of the schemes offered were considered as private treaty between the home buyer and the seller or in this case, the developer. For the deferred payment scheme, we understand that the title deed will be held by the developer until the buyer pays the balance 80% due to the developer.

Advantage to the home buyers – The home buyers were able to save substantially in interest payment for the initial two or three year deferred. Not only they were to able to do so, home buyers could continue earning interest if they had taken advantage on their CPF accounts to make payment as well as receiving the rental income during this time frame. This also allows home buyers who were not able to meet to the imposed requirements of the Bank on TDSR (Total Debt Servicing Ratio) or the LTV (Loan to Value) requirements to take advantage. It allows them ample more time to dispose existing properties under their names and obtain a higher loan amount from the Banks.

Will more developers continue their creative ways to spur buying interest in the new condo launches of 2017? We certainly hope see that.
What are your thoughts? Share with us!

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Yet another record-breaking price for HDB in Singapore

DBSS Flat  - Trivelis

Singapore’s HDB is witnessing another uplift with yet another HDB Apartment sold for a record price. Reports are emerging with a HDB 5-ROOM Flat at Natura Loft, which was sold as a DBSS or Design, Build & Sell Scheme, development in Bishan by Housing & Development Board (HDB). It has just made headlines for becoming the most expensive resale transaction in a public housing development so far.

The purchaser splashed out over $1.18 million, after being dazzled in by the interior’s stunning design, it’s key address in Bishan and roominess of the unit, as indicated by the seller’s represenative, Singapore Realtor Inc’s Joey Chan. Beside being one of just 12 penthouses in the 480-unit extend, its 120 sq m territory implies it is greater than the common five-room pads measuring 110 sq m. The deal was transacted at the end January 2017, also broke previous records set by other DBSS units or flats in the Pinnacle @ Duxton. Last August, a DBSS unit at City View @ Boon Keng fetched $1.1 million, while a flat at the Pinnacle was purchased for $1.12 million in September.

Initially, the five-room units at Natura Loft were propelled at costs going from $590,000 to $739,000, while the four-roomers cost amongst $465,000 and $586,000. Be that as it may, subsequent to meeting the Minimum Occupation Period (MOP) of five years in 2016, 11 other five-room units were sold on the resale advertise for $830,000 to $1.04 million, while 14 four-roomers were purchased for $700,008 to $818,000. While these qualities are in accordance with market costs for upscale DBSS pads in Bishan, R’ST Research Director, Ong Kah Seng, advised that these don’t speak to the resale showcase when all is said in done as costs stay delicate.

So do you think Singapore’s HDB is set to boost prices up? Interesting, I’d like to bring up the topic on executive condominiums. I have always thought that they are a very interesting classes of property in Singapore -A unique public-private hybrid, executive condominiums lets owners buy into the amenities and lifestyle of which a private condominium has, but at a lower price point. Not only that, it also comes with ability to use government grants for their purchase. This article on buying executive condominium seems very interesting to read.

What do you think? Share your thoughts on this new executive condominium.

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Alex Residences at Redhill MRT – Worth a look!

Alex Residences is a classic development of 99 year leasehold assigned to at the snug as a bug in a rug location of Redhill MRT and Alexandra View. This bed of roses where the hat i deny is guerdon in the breast of Redhill and urgently late to the Redhill MRT. Here you gave a pink slip take perfect advantage of the many all the comforts of home ready to be drawn in the by to the asphalt jungle and Orchard.

Alex Residences Redhill MRT: See Alex Residences Redhill MRT
As amply as our snug as a bug in a rug location we try our residents a paradise development family that is the full place for residents to dig time by for the most part of their families and friends guerdon in the breast of the city. Here at the Alex Residences a read and unique lifestyle awaits you.

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The Alex Residences is a well known of the approximately conveniently located condominium buildings in Singapore. Right next to the Redhill MRT outlook, we are bring to a do to many distinctive points of accomplishment, from doubtful institutions, to display shops, and more.

Alex Residences – Alexandra View
Living at the Alex Residences is love living at a highly-priced motel consistent in the core of Singapore.

A portion of our units reject the well-off Redhill and Orchard areas of Singapore, in case you make out suspect some fit as a fiddle views of town. The copious a pattern of Alex Residences is that you commit have generally told of the recreation of downtown residing, whilst having fun by the whole of a useful, hut expertise in the comprehend of your utilize residence.

We’ve got a comprise of floorplans to thong the desires of many rare households. As we are as well as within the behave of advance, these may alternate alternative, but fascinate do retrieve in apply, and prove this site routinely to get of barring no one alterations from the developer, or seize more a few unquestionable unit.

Alex Singland development
Our items are available in three, 4, or five dorm room choices, and notice out around both higher Redhill MRT stream or Redhill upward push. At the much the comparable time all of our models try a peaceable and steeply-priced birthplace atmosphere, these on the sixth bolster and above disclose unblocked views for you to accomplishment from the concrete jungle, and around more privateness.

If you require to design extra practically any of those options, or has a handle on a perfect copy of the optional floorplans bewitch contact us by all of any queries. Please necessarily have a notice at our disclaimer for strain of the Alex Residences floorplan.

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Victoria Park Villas launches at lower prices

In spite of gentler economic situations, property designer CapitaLand will formally dispatch Victoria Park Villas tomorrow. The 99-year leasehold venture in District 10 includes a group of 109 extravagance landed homes roosted on hoisted land by a Good Class Bungalow (GCB) region in Bukit Timah.

The 403,000 sq ft site at the intersection of Coronation Road and Victoria Park Road was honored to CapitaLand in June 2013 after it presented the top offer of $366 million ($908 psf) on the area. This is the first and final landed private site to be recompensed under the Government Land Sales (GLS) Program subsequent to 1996 in the prime locale of 9, 10 and 11.

The task highlights 106 semi-segregated homes running in size from 4,166 sq ft to 6,943 sq ft, with costs from $4.4 million to $5.9 million each for 100 of them. The other six semi-Ds are more costly ($6.3 million to $7.6 million) as they every component a swimming pool on the ground floor.

There is also Goodwood Grand with Strata Bungalows at Balmoral Road – goodwood-grand.sg

There are likewise three cottages measuring 10,904 sq ft to 11,539 sq ft in floor territory, which are estimated between $11 million and $12 million each.

Extremely popular designer Mok Wei of W Architects was locked in to conceptualize the improvement’s all-inclusive strategy.
“The improvement will speak to purchasers who favor move-in prepared landed houses without bearing the high expenses and time expected to revamp a current house or fabricate a house sans preparation,” said Wen Khai Meng, CEO of CapitaLand Singapore.

He said the units were evaluated taking into account winning economic situations. “In a superior business sector, it could have effortlessly taken a toll $1 million more.”

By correlation, four more established semi-Ds at the adjacent King’s Drive, with just 82 years left on their leases, were each sold for $3.45 million to $3.85 million between August 2015 and May this year. Taking into account their property ranges of 2,605 sq ft to 2,756 sq ft, this means a psf cost of amongst $1,323 and $1,395.

Also see Sol Acres EC – www.sol-acre.sg at Choa Chu Kang

“(The) costs (for Victoria Park Villas) are exceptionally practically identical and sensible,” said Jack Chua, CEO of ERA Realty, the venture’s showcasing operator. Highlighting its irregularity, he included: “There are relatively few landed properties available to be purchased around there.”

The recorded costs incorporate a 12 percent prompt riser markdown. The designer is likewise offering extra rebates of up to three percent for specific purchasers who meet all requirements for different plans, for example, rehash clients, purchasers of more than one unit, and those living inside the task’s region. The act of offering rebates is basic among designers hoping to drive deals amid the underlying dispatch time frame.

To date, seven units, all semi-Ds, have been sold to Singaporeans after the undertaking was delicate propelled a month back. Outsiders are not permitted to purchase landed homes in terrain Singapore and should first look for endorsement from the Singapore Land Authority’s (SLA) Land Dealings Unit.

In the interim, in a first among landed lodging improvements in Singapore, CapitaLand is introducing shrewd home components that will permit property holders to remotely control the lighting, aerating and cooling and a security framework by means of their portable applications.

There will likewise be rooms on the storm cellar level, which can house elderly occupants. To further backing multi-generational living, private lifts which can hold up to five individuals every will be introduced in each home, interfacing the different floors. In Singapore, introducing lifts in landed homes can cost anyplace amongst $80,000 and $100,000. CapitaLand is putting forth one year of free support for the lifts. Be that as it may, proprietors will in this manner need to fork out their own particular money for support, which will cost about $2,000 to $3,000 a year.

Also, there will be protected auto patios associated with the storm cellars, which can suit no less than two autos each. Barring the auto park zone, costs for liveable space inside the task will normal between $1,200 psf and $1,400 psf.

New commercial property at Robinson Road – Crown at Robinson

The advancement is near the Botanic Gardens, and in addition restaurants and shops at Coronation Shopping Plaza and Holland Village. Set up schools in the zone incorporate Nanyang Primary School, Hwa Chong Institution and National Junior College, and CapitaLand trusts the site’s vicinity to these establishments will draw in purchasers with school-going youngsters.

CapitaLand had beforehand uncovered that Victoria Park Villas would be dispatch prepared around Q2 2014, however moved back the dispatch date because of less positive economic situations at the time.

Remarking on the present condition of the business sector, Wen said it remains “for the most part entirely quieted, despite the fact that there have been a few indications of change as of late”. In spite of this, the “general business sector notion could have been more hearty”, he included.

This isn’t the initially landed lodging improvement attempted by CapitaLand, which likewise created Holland Green off Bukit Timah Road. Finished in 1998, the 99-year leasehold venture involves 53 extravagance cabins.

Wen noticed that landed properties represent five percent of Singapore’s lodging stock. In that capacity, their shortage offers a superior resale esteem, from a speculation perspective.

Victoria Park Villas is relied upon to be finished in 2018.

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Affordable luxury at Pasir Ris – Coco Palms.

Venture inside these townhouses that offer rich insides and quality finishings, and are near great luxuries, all at sensible costs.

Singaporeans strive to bear the cost of the things they covet, yet they additionally require their cash to buckle down for them. Fortunately to aspire mortgage holders, there has never been a superior time than now to claim a lavish home at an incredible cost.

City Developments Limited (CDL), the built up engineer behind some of Singapore’s most notable points of interest, has propelled three townhouses that offer unparalleled worth for cash.

Coco Palms and Jewel @ Buangkok offer extravagance at alluring costs, while The Venue Residences and Shoppes gives a premium ordeal that is significantly better than the rest.

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Coco Palms – coco-palm.sg

Being spoiled at a tropical island resort is an ordinary involvement with Coco Palms. The advancement is motivated by a portion of the world’s ideal and most selective resorts, and contains six retail shops on the ground floor. Arranged in Pasir Ris Grove, it is only a five-minute stroll from Pasir Ris MRT station.

Sun-sweethearts will love the flawless arranging highlighting five pools (each with its own particular subject) and the three-story clubhouse.

The empowering Grand Lagoon flickers toward the evening sun and infers joyful tropical shoreline excursions. It shapes the centerpiece of the apartment suite’s grounds, and chose units appreciate serene perspectives of the perfectly clear waters. A Cascading Waterlace, Lagoon Jets, Sunken Lounges and the shoreline enlivened Palm Island are only a portion of the components of the sublime pool.

In the Zen-like Onsen Garden, occupants can drench their considerations away in the Salt Water Pool and Onsen-style Hot Bath, before accomplishing internal piece on the Meditation Deck or getting a charge out of a mix at the Tea Pavilion.

An unwinding Hydrotherapy Pool anticipates in the Hydro Garden, where inhabitants can appreciate hydro foot and neck kneads.

Lively occupants will welcome the 50m Lap Pool and Aqua Gym in the Fitness Garden, which is additionally outfitted with tennis courts, wellness and play stations and a running track.

The Sun Play Garden, which guarantees to be a hit with families and children, highlights a Play Pool for the minimal ones to sprinkle around in.

The advancement’s unrivaled vicinity to Pasir MRT station interfaces you to the city on the East-West Line. The future Cross Island line will likewise give network from Changi to Jurong. Luxuries like Downtown East, IKEA, Giant and Courts are a short head out, as are Changi Business Park, Singapore EXPO and Changi International Airport. The White Sands shopping center is found only a five-minute leave.

While units have seen lively deals, there is still a decision of three-, four-and five-room units accessible, and in addition double penthouse units with five or more rooms. Three-room units are valued from $960,660.

Affectionately outlined insides are outfitted with a suite of premium machines, including a kitchen hood, hob and stove by Teka and kitchen sink by Franke. Every kitchen is outfitted with an implicit Hyflux Ultrafiltration System, which apportions cleaned drinking water through a Hyflux tap.

The normal date of excursion ownership for Coco Palms is June 2019.

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Tycoon buys Orchard apartment for $21m

Indonesian head honcho Trihatma Kusuma Haliman is accepted to have purchased a seventh floor unit at the Le Nouvel Ardmore apartment suite close Orchard Road for $21 million, reported The Business Times.

This means $4,006 psf taking into account the 5,242 sq ft strata zone, which incorporates a strata void region of 280 sq ft.

Trihatma controls Indonesian property bunch Agung Podomoro Land, which has as of late been under the spotlight in Indonesia.
See Orchard new launch – Sophia Hills

This comes as the previous Vice President Director of the recorded organization, Ariesman Widjaja, was held in authority by the Corruption Eradication Commission (KPK), Indonesia’s hostile to unite office, pending examinations on a claimed gift case including an area recovery extend north of Jakarta, said media reports.

Agung Podomoro Land is one of the real speculators of the proposed Pluit City recovery venture.

goodwood grand

In the interim, the flat obtained by Trihatma will be the 6th unit sold by Wing Tai inside the freehold venture.

In 2015, Sun Tongyu, one of Alibaba Group’s organizers, purchased a penthouse situated on the main two levels of the 33-story venture for a record $51 million ($3,676 psf).

Planned by 2008 Pritzker Architecture Prize champ Jean Nouvel, the 43-unit condominium got its TOP in April 2014.

Wing Tai sold the primary unit at the task for $4,362 psf in 2011 to Edgar Cheng Wai Kin, the eldest sibling of Group Chairman Cheng Wai Keung. In 2013, it sold two a bigger number of units at more than $4,300 psf. See Goodwood Grand at Balmoral Road

This was trailed by Sun’s securing of the penthouse in April 2015, after which a fifth floor unit was sold for $15.84 million in July.

The engineer would have begun paying augmentation charges for the venture, as it neglected to meet the two-year due date from the TOP date to offer all units inside the task under the Qualifying Certificate (QC) rules, which is gone for keeping outside property designers from storing or hypothesizing in private area here.

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Shunfu Ville has stirred the enthusiasm on developers

The $638 million aggregate offer of Shunfu Ville has stirred the enthusiasm of engineers searching for potential redevelopment locales, and additionally mortgage holders planning to arrange their more seasoned properties, reported The Straits Times.

Found near the Marymount MRT station, the 358-unit privatized HUDC home changed hands in May, with every proprietor taking around $1.78 million, or a 50 percent premium over an ordinary unit’s cost. It is additionally the main en alliance exchange in right around a year, and the most costly since 2007.

“There is enthusiasm from designers, which is the reason we are venturing up our quest for appropriate tasks,” said Karamjit Singh, International Director at JLL.

Not long after the Shunfu Ville deal, property consultancies started accepting request from advancements that could be conceivably sold en coalition, while different bequests have begun the procedure.

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For instance, a few inhabitants at The Capri apartment suite are trying things out for an en alliance bargain by welcoming gatherings to submit costs. In the interim, a privatized HUDC bequest in Potong Pasir Avenue 1 is social occasion marks from the proprietors. Purportedly, around 60 percent have assented to the deal, yet this is still shy of the 80 percent least endorsement required.

Advancements that have effectively endeavored this move twice however fizzled on both events are likewise attempting their fortunes once more. These incorporate the 84-unit Changi Garden, and additionally the privatized HUDC bequests of Eunosville and Tampines Court.

Truth be told, the en alliance deal advisory group of the blended use Changi Garden venture off Upper Changi North Road selected attorneys and a promoting operator in May for its most recent aggregate deals exercise.

In the interim, inhabitants at the 330-unit Eunosville are comprehended to restart the en coalition process, while those at the 560-unit Tampines Court are reviewing a business understanding.

As indicated by Lee Liat Yeang, Senior Partner in Dentons Rodyk and Davidson, “proprietors of privatized HUDC improvements are under weight as their domains become more established and the obligation of redesigning lays on their shoulders now. See the new Executive Condominimum – Sol Acres

“Over the long haul, the benefit of garnish up the lease (of site) will go up and, correspondingly, the measure of cash that goes to proprietors in an en alliance deal will descend.”

In addition, this is a fortunate time for aggregate deals, as the powers have decreased down the Government Land Sales (GLS) Program, noted Alice Tan, Knight Frank’s Research Head for Singapore.

Notwithstanding, bidders are relied upon to offer more practical costs in light of the business due dates under the Qualifying Certificate and Additional Buyer’s Stamp Duty (ABSD) rules, included Shaun Poh, Executive Director, Capital Markets at Cushman and Wakefield. Even so, Sturdee Residences just launched in earlier this year.

“Designers are low on their territory stocks so a significant number will be quick to restock. Be that as it may, they are likewise extremely aware of whatever business accumulation they may have.”

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ASEAN – Real estate markets to be transformed by Technology

Southeast Asian nations could soon overwhelm other creating countries by grasping new innovations that change the way individuals live, work and play, uncovered a JLL report. Development in the area is relied upon to surpass the worldwide normal, with a rising white collar class liable to shape new propensities.

The report took a gander at how exceptional advanced innovations could affect nations in the recently settled ASEAN Economic Community. One such disclosure was the manner by which home-sharing stages, for example, Airbnb could enhance how effectively property is utilized. It might even prompt a drop in the quantity of inn rooms in the area and expansion the quantity of individuals who own second homes.

“From multiple points of view, new advancements will permit individuals to sidestep current requirements and jump into more noteworthy proficiency. The effect on land and base in Southeast Asia is liable to be certain and transformational,” said Chris Fossick, JLL’s Managing Director, Singapore and South East Asia.

“On the off chance that outfit successfully, the progressions will bring enhanced profitability, salary levels and personal satisfaction to the populace.”

There could likewise be potential changes in the workplace market. Adaptable work rehearses and an expansion in co-sharing spaces could diminish the interest for office space all through the locale. The greenery in Thomson adds value to developments like Adana @ Thomson

Regina Lim, National Director, Advisory and Research for Capital Markets at JLL, said: “While development popular for office space impeded after the worldwide monetary emergency, Southeast Asia has resisted the pattern, with interest anticipated that would develop at six percent for each year until 2020 because of financial development, further speeding up of outsourcing from created markets, and the ascent of the working class.”

guillemard-suites-01

The report included that Southeast Asian economies are anticipated to develop by five percent every year until 2020, higher than the worldwide development conjecture of 3.5 percent.

In the interim, the urban populace in Southeast Asia’s urban communities will increment by 2.2 percent every year, while the center salary populace is set to develop by 70 million preceding the end of the decade.

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