Global property investment up 7%
Global direct property investment volumes in the second quarter totalled more than US$101 billion, an increase of seven percent from Q1 2011 and a whopping 47 percent from Q2 2010, according to latest research conducted by Jones Lang LaSalle (JLL).“The upswing in activity continues, with...
Continue Reading • 13 Jul 2011
Peace Centre site up for en bloc again
Peace Centre and Peace Mansion at 1 Sophia Road have been put up for collective sale for the third time, at a reduced asking price of S$675 million.This works out to around S$1,306 psf ppr, including an estimated S$145 million upgrading premium to top up the existing lease to a 99-year tenure,...
Continue Reading • 12 Jul 2011
MDIS launches S$120m integrated campus
The Management Development Institute of Singapore (MDIS) has officially launched its S$120 million integrated campus at Stirling Road, with Singapore President S R Nathan gracing the event.The campus houses a new 15-storey hostel, which can accommodate nearly 1,700 students.With an S$80 million...
Continue Reading • 12 Jul 2011
Skyline Residences units snapped up
About 80 of the 100 units released at Skyline Residences, a 283-unit freehold condo in the Telok Blangah area, were snapped up during its preview last week, according to marketing agent Knight Frank.The average price of the units was between S$1,800 psf and S$1,900 psf, with the cheapest unit, a...
Continue Reading • 11 Jul 2011
All units in phase 1 of Thomson Grand sold out
The VIP preview of Cheung Kong’s Thomson Grand luxury condo received overwhelming response, with all 50 units taken up at prices between S$1,100 psf and S$1,600 psf for two- to four-bedroom units.The most expensive unit was snapped up at S$3.6 million, while 11 of the 22 strata terraced...
Continue Reading • 11 Jul 2011
HDB awards Punggol EC site to highest bidders
The Housing & Development Board (HDB) has announced its award of the tender for an Executive Condominium (EC) site at Punggol Way / Punggol Field to FCL Tampines Court Pte Ltd and Keong Hong Construction Pte Ltd.The two companies jointly submitted the highest bid of S$219.47 million in a...
Continue Reading • 11 Jul 2011
Le Nouvel Ardmore unit sold for record price
Wing Tai Holdings Ltd has sold a unit at Le Nouvel Ardmore at 20 percent higher than the original estimate of S$3,500 psf, according to Singapore Business Review.“The unit at Le Nouvel Ardmore has been sold to a company owned by Mr Cheng Wai Kin, the brother of Wing Tai Chairman Cheng Wai...
Continue Reading • 11 Jul 2011
Frasers, Sekisui form JV to develop Sydney project
Frasers Centrepoint, the property arm of Fraser and Neave (F&N), has inked a joint venture (JV) agreement with Japan’s Sekisui House Australia Holdings Pty Ltd to develop the S$2.6 billion (A$2 billion) Central Park project in Sydney, a venture positively viewed by some analysts.The...
Continue Reading • 8 Jul 2011
Foreigners account for 17.6% of Q2 property investment deals
Foreigners comprised 17.6 percent of the property investment transactions in the second quarter, up from 10.5 percent in the first quarter, according to a report published by DTZ Research.Overall, approximately S$8.3 billion in investment sales were recorded in Q2, slightly above the S$8 billion...
Continue Reading • 8 Jul 2011
Punggol EC site sees 3 bids
An Executive Condominium (EC) site at Punggol Way / Punggol Field received a total of three bids in a public tender that closed on 7 July.The top bid was jointly submitted by FCL Tampines Court Pte Ltd and Keong Hong Construction Pte Ltd at S$219.47 million. CEL Development Pte Ltd offered the...
Continue Reading • 8 Jul 2011
Advanced VIP preview of Thomson Grand
Property developer Cheung Kong (Holdings) Ltd has announced an advance VIP preview of its luxury property project, Thomson Grand.After receiving more than 1,000 enquiries from potential local and foreign buyers, the developer has released 50 units for sale during the VIP preview.“We will...
Continue Reading • 8 Jul 2011
10000 new private homes for 2011
Property consultancy firm Savills is expecting 10,000 new homes to be launched in the second half of the year, according to the company’s latest report.The projects will primarily come from the Government Land Sales (GLS) programme, with most of the homes aimed at the mass market segment....
Continue Reading • 7 Jul 2011
Property price growth slows as cooling measures kick in
Anti-speculative measures implemented by the government are taking effect, but with different outcomes in both the public and private sectors.“Price increases in Q2 were marginally below expectations,” said Alan Cheong, Associate Director at Savills Research and Consultancy.Prices of...
Continue Reading • 7 Jul 2011
Another Asian celebrity acquires Twin Peaks unit
Two weeks after actor Jackie Chan and singer-songwriter Wakin Chau bought three apartments at the Twin Peaks condo development, Mandopop star JJ Lin acquired a 571 sq ft, one-bedroom unit at the project.The 30-year-old Singapore-born Taiwan-based singer-songwriter-composer is understood to have...
Continue Reading • 7 Jul 2011
Crystal Tower, Daisy Apartments go en bloc
Crystal Tower has been launched for collective sale through a tender at an indicative price of S$155 million, according to a Channel News Asia report.The 28 unit, 11-storey residential development has a total area of 60,482 sq ft and a gross plot ratio of 1.6.Located at Ewe Boon Road, the site...
Continue Reading • 6 Jul 2011
Laguna Park tender closed
The en bloc sale exercise for the Laguna Park residential development site in District 15 closed yesterday, with its marketing agent Knight Frank still negotiating with an interested party, according to a Channel News Asia report.The 33-year-old residential apartment was launched for sale on 23...
Continue Reading • 6 Jul 2011
Choa Chu Kang residential site goes for S$142.78m
A residential site at Choa Chu Kang Road / Phoenix Road has been awarded by the Urban Redevelopment Authority (URA) to Far East Civil Engineering (Pte) Limited and China Construction (South Pacific) Development Co Pte Ltd, after submitting the highest bid of S$142.78 million, or S$4,418.97 psm of...
Continue Reading • 5 Jul 2011
Grand Tower up for sale
Grand Tower, a boutique freehold residential site in the Novena area, has been put up for sale through a public tender, with an indicative price of S$88.8 million (S$1,381 psf ppr).No development charge (DC) is payable, according to Savills Singapore, the property services firm in charge of...
Continue Reading • 5 Jul 2011
Private home prices continue to rise
The private residential property price index climbed 1.9 percent to 202.8 points in the second quarter, compared to a 2.2 percent increase in the previous quarter, according to the Urban Redevelopment Authority’s (URA) flash estimates.In addition, prices of non-landed private residential...
Continue Reading • 4 Jul 2011
Developers clarify report over high profit margins
Two developers have released a joint statement to clarify a report published by The Business Times last week, claiming that Design, Build and Sell Scheme (DBSS) projects collects high gross profit margins for the developer.“The article gave the impression that DBSS developers including Hoi...
Continue Reading • 4 Jul 2011