Tampines Court Ltd acquires Woodgrove Avenue site
A land parcel at Woodgrove Avenue has been awarded to Tampines Court Ltd after it offered the highest bid of $105.12 million in a public tender that closed on November 4.The site has a total land area of 20,956.30 sq m and has a maximum allowable gross floor area of 29,338.82 sq m with a gross...
Continue Reading • 11 Nov 2010
Weakening economic indicators to affect growth
Despite evident improvement in transaction volume and investor sentiment in the third quarter of the year, the weakening economic indicators could still negatively affect growth, according to a report compiled by CBRE.“In particular, the risks associated with volatile exchange rates and...
Continue Reading • 11 Nov 2010
Park Regis Singapore set to launch
Park Regis Singapore, a 203-room hotel in the Raffles Place area, is set to launch on November 16, marking the entry of Australian-based StayWell Hospitality Group (SWHG) into the Southeast Asian region.The new hotel marks a significant milestone in expanding SWHG's brand in major destinations...
Continue Reading • 11 Nov 2010
Sales of GCBs continue to soar
Owners of Good Class Bungalows (GCB) are cashing in on their properties at skyrocketing prices.According to an analysis by CBRE on URA realis caveats, GCB owners who have seen an average psf price increase by almost 30 percent are reaping bumper profits over the past year, with several of them...
Continue Reading • 11 Nov 2010
Upper Serangoon View site attracts four bids
A land parcel at Upper Serangoon View has attracted a total of four bids in a public tender that closed on November 9.A tie up bid among FCL Topaz Ltd, Far East Civil Engineering Ltd and Sekisui House Ltd emerged as the top bidder, offering $156.8 million for the 99-year leasehold site.“The...
Continue Reading • 10 Nov 2010
Asia Pacific property transaction volumes recover in Q3
Real estate transaction volumes in the Asia Pacific region have recovered following a significant decline in the second quarter, jumping 44 percent to $20.8 billion in the third quarter, according to a recent report.Global transaction volumes also picked up in Q3, up 15 percent over Q2, following...
Continue Reading • 10 Nov 2010
IHG to operate RB Capital hotel
RB Capital Hotels has appointed InterContinental Hotels Group (IHG) to run the hotel it will build at the corner of Havelock Road and Clemenceau Avenue.The property is set to be the largest Holiday Inn Express in Southeast Asia in terms of room count with about 460 to 500 rooms. It is due to open...
Continue Reading • 9 Nov 2010
Gap in bids for land narrows
Property developers are no longer bidding wildly at Government Land Sale tenders as the effects of the property cooling measures set in.This can be measured from the fact that the gap between the top bidder and the next highest bidder for sites with residential components has begun to...
Continue Reading • 9 Nov 2010
Hotel Fort Canning opens its doors
The Hotel Fort Canning has opened in Singapore, featuring a collection of 86 rooms and suites.The property, which previously served as a base for the British Far East Command during WWII, has been restored by an award-winning Singapore architectural company.Among the facilities in the hotel...
Continue Reading • 8 Nov 2010
Woodgrove Avenue site draws 6 bids
A land parcel at Woodgrove Avenue has attracted six bids in a public tender that closed on September 22, with Tampines Court Ltd offering the highest bid of $105.12 million or $3,582.97 psm per GFA.The second-highest bid came from EL Development Ltd, offering $100.90 million or $3,439.10 psm per...
Continue Reading • 8 Nov 2010
Collective sales market gaining momentum, says JLL
Collective sales in Singapore are gaining momentum, with en bloc sale transactions hitting S$975 million year-to-date, according to property consultancy firm Jones Lang LaSalle (JLL).About 90 percent of the total transactions came from residential segments, with more than 10 residential deals...
Continue Reading • 4 Nov 2010
Accuracy of official estimates questioned
The debate on the accuracy of official estimates has been reignited by a recent presentation by real estate company International Property Advisor (IPA) on the estimated supply of private housing units in the pipeline.The presentation emphasised that the number of private homes projected to be...
Continue Reading • 3 Nov 2010
$100m project planned for Ten Mile Junction site
Far East Organization has announced that it plans to build a $100 million development comprising 338 small office-home office (SoHo) units and 121,000 sq ft of retail space at the Ten Mile Junction site.In February, the developer paid $164 million or $437 psf ppr for the 99-year leasehold site...
Continue Reading • 3 Nov 2010
Bedok Reservoir site attracts 6 bids
A land parcel at Bedok Reservoir Crescent has received a total of 6 bids in a public tender that closed yesterday, with CEL Development Ltd offering the highest bid of $112.69 million, or around $2,414.52 psm per gross floor area (GFA).The second-highest bid came from Kwan Hwee Investment Ltd at...
Continue Reading • 3 Nov 2010
112 units at The Glyndebourne sold in private preview
The Glyndebourne, a 150-unit freehold condo development, has sold 75 percent or 112 units in a private preview held last weekend.City Developments Limited (CDL), which is developing the project, said 70 percent of the total buyers were Singaporeans, with the remaining 30 percent comprising...
Continue Reading • 3 Nov 2010
URA launches Robinson Road hotel site for tender
The URA has launched a hotel site at Robinson Road and Boon Tat Street for sale through public tender, after a developer committed to bid not less than S$30.8 million.It was made available for sale on June 22 through the government’s Reserve List system. The site is located at the junction...
Continue Reading • 3 Nov 2010
Developers eyeing project launches before holidays
With the recent announcement by City Developments (CDL) that it has sold 75 percent of the 150 units at Glyndebourne condo since its preview started on Friday, other developers are rushing to release projects prior to the year-end holiday season.UOL Group will likely preview the 36-storey...
Continue Reading • 2 Nov 2010
Copthorne Orchid Hotel to be redeveloped into condo
The Copthorne Orchid Hotel Singapore, located along Dunearn Road, will be closed by end-March next year for the site’s redevelopment into a 150-unit freehold condominium.The condo was previewed on Friday, wherein 60 units were released for the first phase at a price of $2,050 psf on...
Continue Reading • 1 Nov 2010
Property developers less upbeat on the market
Property developers are less upbeat of the future, with nearly 34 percent of them expecting a decline in new home prices, according to the latest readings of Real Estate Sentiment Index (RESI).Following the cooling measures announced on August 30, a third of developers polled for the third...
Continue Reading • 29 Oct 2010
Landed plots in Sembawang receive bullish bids
The 14 landed housing plots that were offered in a government land auction in Sembawang attracted strong bidding and bullish offers as property developers renewed their confidence in the landed housing market.Majority of the winning bids for the sites were within the range of $500 psf to $600...
Continue Reading • 29 Oct 2010