Offices in city fringe to suffer from lower rental growth
Rental growth for transitional offices situated in the city-fringe area are expected to slow down in the coming months. But such offices can maintain their yields, if they are located around Mohammed Sultan and Scotts Road.Office rentals in the Central Business District (CBD) have dropped 60...
Continue Reading • 17 Jun 2010
CleanTech Park: a clean technology icon
JTC is changing its approach to master planning and urban development with CleanTech Park – the first business park in Singapore to cater to green companies.The 50-ha eco-business park located at Nanyang Avenue is considered as a suitable location for innovative firms that have adopted...
Continue Reading • 16 Jun 2010
Ibis Singapore on Bencoolen up for private tender
Ibis Singapore on Bencoolen – a three-star hotel launched in February 2009 has been put up for sale through a private tender.The results will not be announced until July, though many market watchers are estimating that the hotel could fetch over $200 million.The 538-room hotel is jointly...
Continue Reading • 16 Jun 2010
Ubi Road 1 site up for sale
The URA has put an industrial site located at Ubi Road 1 up for public tender.The land parcel has a site area of around 3.5 hectares and a 60-year leasehold period.It has a maximum permissible gross plot ratio of 2.5 and can be developed for many uses such as clean and light industries, including...
Continue Reading • 16 Jun 2010
URA awards Upper Serangoon Road site tender to Qingdao Construction
The URA said it has awarded the tender for a residential site located at Upper Serangoon Road and Pheng Geck Avenue to Qingdao Construction.The property firm submitted the highest bid of S$113.7 million, which translates to S$588 psf of gross floor area.The tender for the site, which attracted 15...
Continue Reading • 16 Jun 2010
Residential site at Punggol Field attracts S$223.7m highest bid
HDB’s tender for a residential site located at Punggol Field/Punggol Road has attracted a highest bid of S$223.7 million.This translates to about S$298 psf ppr for the Reserve List site zoned for executive condominium (EC) development.The highest bid came from a joint bid by two companies...
Continue Reading • 16 Jun 2010
Singapore property market cools in May
Property prices in Singapore have cooled significantly, with 1,078 new private home units sold in May. This is 50 percent lower than the figure in April.The Minton project in Hougang was the star performer in the mass market in May, with 204 units sold at an average price of S$849 psf.Projects in...
Continue Reading • 16 Jun 2010
Height could hit profit from en bloc
A planning provision has hindered the plans of Nim Gardens’ residents to make a profit should their development go up for en bloc sale. Nim Gardens is a 10-storey development in Seletar Hills.Based on the rule, any new development cannot exceed this height, nor the gross floor area. This...
Continue Reading • 15 Jun 2010
Landed properties in Opera Estate exceed $1,000 psf level
Landed houses in Opera Estate have increasingly breached the $1,000 psf level this year. Based on caveats lodged with URA Realis, out of the 16 transactions worth over $1,000 psf from May 1997 to May 2010, about 50 percent were carried out this year.In February, a peak of $1,301 psf was reached...
Continue Reading • 15 Jun 2010
Collective sale of Pender Court fetches S$95m
The 48-unit residential development called Pender Court, which is located at the foot of Mount Faber, has become the eighth successful collective sale in the country for 2010.The property was purchased by Hoi Hup Realty for S$95 million, which translates to about $1,007 psf ppr.Property...
Continue Reading • 15 Jun 2010
URA to release tender for hotel site
URA will release a tender for a hotel site situated at the junction of Clemenceau Avenue and Havelock Road over the next two weeks.URA said it has already accepted an application from a property developer for the site, which was put up for tender on the Reserve List. The developer has committed...
Continue Reading • 15 Jun 2010
SDB eyes Singapore's high-end property market
SDB Properties, the property arm of Selangor Dredging Bhd, is eyeing the premium property market in Singapore.After it launched its first residential development in 2007 called Jia, SBD is moving forward with its second property project – Gilstead Two – located at Gilstead Road near...
Continue Reading • 14 Jun 2010
Stevens Suites preview expected within weeks
Boutique property group EL Development will begin previewing its 32-unit Stevens Suites later this month or early in July.The freehold project located at Stevens Close has a price range of between $1,680 per sqf and $2,050 psf. It will have one-, two- and three-room apartments and eight...
Continue Reading • 14 Jun 2010
Record price for top-end bungalow in Sentosa Cove
Amid the warnings that have crept into the property market for mainstream condominiums in May, a record price has been set in Sentosa Cove for a top-end bungalow.The bungalow, which is located at Paradise Island, was sold in the resale market for $36 million or $2,403 psf on land area last month,...
Continue Reading • 14 Jun 2010
Golden era for property developers
The years 2007, 2009 and 2010 can be considered a golden era for property developers.Laden with vast liquidity from large profits on sold-out projects, it is no surprise that developers look at development sites with great appetite.The aggressive bidding for the latest state sale of a residential...
Continue Reading • 11 Jun 2010
Heeton unveils iLiv@Grange project
Heeton Holdings plans to begin construction of a new Grange Road condominium – iLiv@Grange – in September this year, said Danny Low, chief operating officer of the company.The firm also intends to relaunch The Lumos over the next two months. Since early 2008, sales of units in the...
Continue Reading • 10 Jun 2010
Stiff competition for proposed development in Orchard Rd
Industry players said that the proposed mixed-hotel-and-retail development on the site of the former Hotel Phoenix and Specialists' Shopping Centre may encounter stiff competition, since it will be a latecomer in the revamped Orchard Road shopping strip.Experts believe that once the Discovery...
Continue Reading • 10 Jun 2010
Property market set to cool down
The Singapore property market is set for a correction in the following months, say industry players, adding that home prices could hit a plateau and transaction volumes could drop.According to Singapore Institute of Surveyors and Valuers (SISV), there were 899 caveats lodged for condos during the...
Continue Reading • 10 Jun 2010
Office capital values set to increase, says JLL
Prime office capital values in Singapore are set to rise over the next 12 months in anticipation of rental rate increases, fuelling interest among foreign investors in the office market, according to Jones Lang LaSalle (JLL).“The number of investors coming to town and looking at offices has...
Continue Reading • 10 Jun 2010
Consultants to lower developer sales estimates
Property consultants are preparing to lower their forecast for full-year developer sales, while some are moderating their price expectations. However, most do not expect developers to cut prices soon, considering the promising economy of Singapore.Consultants are awaiting official data on the...
Continue Reading • 9 Jun 2010