URA awards Jurong white site to Lend Lease
The URA has awarded the tender for a white site located at Jurong Gateway Road to Lend Lease Commercial Investments and Lend Lease Retail Investments 3. Lend Lease submitted a top bid of S$748.9 million during a public tender that closed on June 24. This translates to around S$650 psf ppr...
Continue Reading • 29 Jun 2010
Hotel site in Clemenceau Ave up for sale
The URA has put a hotel site located at the junction of Clemenceau Avenue and Havelock Road up for sale through a public tender.The sale of the 99-year leasehold site, which is next to Central Mall, was triggered when a developer committed to bid at least $40.8 million or about $328 psf ppr.The...
Continue Reading • 29 Jun 2010
Glitzy features to entice home buyers
Developers of the recently launched 361-unit Waterfront Gold in Bedok Reservoir hope that the condo’s skypark feature will become a hit with demanding buyers.Frasers Centrepoint, which is developing the site jointly with FEO, said it is the first skypark in a private residential project.The...
Continue Reading • 28 Jun 2010
68 units sold at Waterfront Gold
Far East Organization and Frasers Centrepoint have sold 68 units out of the 150 units released at the Waterfront Gold condo project fronting Bedok Reservoir.Units at the 99-year leasehold, 361-unit condo project were being offered at around $950 psf. More than 70 percent of the total units sold...
Continue Reading • 28 Jun 2010
No property bubble yet, says MM
There is no bubble yet in the Singapore property market, said Minister Mentor Lee Kuan Yew.The sharp price increases that have been experienced were "part of the total liquidity in the whole world system", said Mr. Lee, adding that foreigners still see properties as affordable and...
Continue Reading • 28 Jun 2010
Private home prices unlikely to decline in H2
The private residential market in Singapore is unlikely to cool in the second half of 2010. Although home prices and property sales in some segments may ease in coming months, many industry experts expressed that the market is unlikely to see a sudden correction.Several observers said that...
Continue Reading • 28 Jun 2010
CCT still undecided on StarHub Centre property
CapitaCommercial Trust (CCT) has announced that it has yet to decide on its StarHub Centre property.It said that it is still evaluating all possible options for its asset plan for the StarHub Centre and has yet to arrive at any decision.As part of its evaluation process, the property firm said...
Continue Reading • 25 Jun 2010
Waterfront Gold up for preview
Property developer Frasers Centrepoint’s latest development Waterfront Gold at Bedok Reservoir Road will be up for preview this weekend.The 99-year leasehold project comprises 361 condo units in five blocks with 15 storeys each and located on a 14,496.40 sq m site area at a plot ratio of...
Continue Reading • 25 Jun 2010
Lend Lease puts top bid for Jurong white site
Australian property developer, Lend Lease, has put in the top bid of S$748.89 million for a white site at Jurong Gateway Road.The S$748.89-million bid of Lend Lease, which translates to around S$650 psf ppr, is more than twice the $350-million triggered price for the site.Energy Trustee offered...
Continue Reading • 25 Jun 2010
Seven restaurants at MBS
Food lovers can now look forward to delectable delights from world-class chefs, as Marina Bay Sands sets the stage for world-class dining.The integrated resort will have seven restaurants under one roof. Two are already open but more will follow including one restaurant by Australian chef...
Continue Reading • 25 Jun 2010
More property launches soon
With many families returning from holidays as the school vacation comes to an end, many property developers are starting to crank up their launch machinery again. Far East Organization and Frasers Centrepoint started to preview the 99-year leasehold Waterfront Gold condo located along Bedok...
Continue Reading • 25 Jun 2010
18 F&B spaces at Gardens by the Bay opened for tender
Gardens by the Bay is set to open next November, giving customers a chance to experience fancy dining “in a tree” or among endangered flowers and plants.According to the National Parks Board, the attraction, spanning 9,400 sq m or about two football fields, will have 18 food and...
Continue Reading • 25 Jun 2010
Resale home prices increase in Q2
Prime freehold condominium units in districts 9, 10 and 11 are fetching record prices in the resale market, more than what they did during the last peak in Q4 2007, according to a new report.Property company DTZ said that the average resale price of freehold non-landed homes in the three...
Continue Reading • 25 Jun 2010
Q2 prime office rents pick up
Prime office rents in Singapore have finally picked up in the second quarter following a six-quarter decline, according to CB Richard Ellis (CBRE).With solid leasing activity, the large supply of commercial space coming on-stream seems “increasingly manageable”, added CBRE. The...
Continue Reading • 25 Jun 2010
MBS to beat US$330m earnings forecast
Marina Bay Sands said it is heading in the right direction to beat analysts’ forecast to reach US$330 million in cash flow this year.Projections for revenues and number of visitors at the integrated resort have also been met, said Sheldon Adelson, CEO and chairman of Las Vegas Sands –...
Continue Reading • 24 Jun 2010
Nam Hee, FCL Topaz win Yishun site tender
Nam Hee Contractor and FCL Topaz have been awarded a residential housing site located at Yishun Avenue 2 and Yishun Avenue 7.The S$229.4-million joint bid of the companies, which translates to around $311 psf ppr, beats the other contender GuocoLand's Perfect Eagle offering a bid of $196 million...
Continue Reading • 24 Jun 2010
Fragrance Group launches Suites & Icon @ Changi
Property developer Fragrance Group has launched an integrated commercial and residential project along Changi Road.The project, Suites & Icon @ Changi, is a five-storey freehold integrated building.The Icon @ Changi is a commercial office tower including 44 retail and office facilities on the...
Continue Reading • 24 Jun 2010
Expert warns rise of prime property prices
Luxury property prices in Singapore are set to increase five to eight percent in the coming months, given the country’s solid economic fundamentals, low interest rates and strong cash holdings of Singaporeans, according to a strategist from Swiss bank UBS.While prices of mid- range and...
Continue Reading • 24 Jun 2010
Singapore real estate transparency ranking drops
Singapore has dropped two places to 16th place in a transparency ranking of major property markets worldwide.The position of the city-state in the latest Global Real Estate Transparency Index compiled by Jones Lang LaSalle (JLL) has dropped because scores of other countries improved, while...
Continue Reading • 24 Jun 2010
Property companies should watch their cashflow
Companies in the real estate industry should continue watching their cashflow, which includes looking for new recurring income and keeping options open for alternative funding, according to industry players.At the Real Estate Investment World Asia 2010 industry conference, industry players said...
Continue Reading • 23 Jun 2010