SPH venturing into more property projects after Sky@eleven
Singapore Press Holdings (SPH) highlighted its ability as a property developer with the unveiling of Sky@eleven – its newly completed maiden residential project located in prime district 11 off Thomson Road.The freehold project, which was developed by Times Development, a wholly owned...
Continue Reading • 9 Jun 2010
MCC Land puts top bid for Sembawang site tender
Property developer MCC Land has offered the highest bid of S$131.70 million for a land parcel in Sembawang Road/Canberra Drive during a public tender by HDB.HDB received a total of seven bids for the 22,567.8-sq-m site, which was released for public tender in April and closed on Tuesday.The...
Continue Reading • 9 Jun 2010
Tiong Seng to develop eco-friendly condo
Mainboard-listed Tiong Seng Holdings announced that its subsidiary, Tiong Seng Contractors, has sealed a contract worth S$146 million to design and develop a 429-unit eco-friendly condominium – Tree House – located in Chestnut Avenue, off Upper Bukit Timah Road.Based on the contract,...
Continue Reading • 9 Jun 2010
Two sites launched for collective sale
Two residential sites, one in Orchard Road and the other near the Kovan MRT Station were released separately for en bloc sale.Property consultancy firm Credo Real Estate recently announced the sale of Goodrich Park located in Simon Lane with a price tag of between $80 million and $85...
Continue Reading • 9 Jun 2010
Orchard Road ranked 27th most expensive retail street in the world
The Orchard Road shopping belt in Singapore has been ranked 27th the most expensive retail street in the world in a survey conducted by property consultancy firm Colliers International.The country climbed up one notch from last year’s 28th spot in Colliers annual global ranking of rents for...
Continue Reading • 9 Jun 2010
OCBC appoints UE to develop Somerset site
OCBC Bank has selected United Engineers (UE) for the development of a shopping mall and a hotel at the former Hotel Phoenix and Specialists’ Shopping Centre site at Somerset.About $550 million is expected to be spent for the development of the project, which is likely to be completed by the...
Continue Reading • 8 Jun 2010
Pebble Bay project sees strong interest
The 510-unit waterfront condo project – Pebble Bay – located in Tanjong Rhu area has seen strong interest from homebuyers since early this year. Prices have jumped to as much as $1,389 psf in January when a 2,099-sq-ft three-room unit on the sixth floor was sold for about $2.9...
Continue Reading • 8 Jun 2010
More condos in the CBD area
The Central Business District (CBD) of Singapore will be livelier during the nights and on weekends, as the staid office area is set to become a certified residential district.About four condominium projects are expected to be completed in the Shenton Way area in 2010 and 2011, adding more than...
Continue Reading • 8 Jun 2010
Buyers snap up units at The Minton
Dozens of interested homebuyers are looking to acquire new homes, despite an unstable stock market affecting property market sentiment.Over the weekend, another 120 units at The Minton project in Lorong Ah Soo had been sold, following the 180 units fetched last week, taking the total sales to 300...
Continue Reading • 8 Jun 2010
Treetops receives Green Mark Gold Award
Treetops Executive Residences has won the Green Mark Gold Award, an accolade given by the Building and Construction Authority (BCA), for its initiative to go green.Treetops, run by DTZ Debenham Tie Leung Hospitality Management Services, is the first building under the service apartment sector...
Continue Reading • 7 Jun 2010
Asia-Pacific exceeds the Americas in hotel sales, says report
For the first time, hotel sales across the Asia-Pacific have overshadowed that in the Americas, as investors continue to flock to the region, a study showed.According to the report by Jones Lang LaSalle Hotels (JLLH) Hotel Investment Highlights, the Asia-Pacific had recorded hotel sales of US$3.3...
Continue Reading • 4 Jun 2010
URA sells three heavy vehicle park sites
URA announced that it has sold three plots of heavy vehicle parks at Senoko Drive and Bukit Batok West Avenue 5 through a public auction.It said that the15,600-sq-m heavy vehicle park site at Bukit Batok West Avenue 5 was sold for $5 million to Uni Development. This translates to about $30...
Continue Reading • 4 Jun 2010
Office rents in financial district may increase 25 percent
Rentals for Grade A office space in the financial district may see at least a 25 percent increase in the next two years.Many analysts stressed that Grade A office rents in the country have already hit bottom, but will likely recover starting from the second half of the year.Among the prime...
Continue Reading • 4 Jun 2010
A quiet May for Singapore's property market
The current eurozone debt crisis has had greater success in cooling the hot private residential market in Singapore than a series of anti-speculative measures or the recent announcement of the government to release a bumper supply of state land for sale to meet the demand.Show flats and previews,...
Continue Reading • 4 Jun 2010
Now they own it, now they don't
About 25 percent of those who sold a private apartment or condominium for a profit in the subsale market during the first four months of 2010 had owned the unit less than a year, according to analysis by Savills Singapore.That is higher than 19.7-percent of owners who held their properties within...
Continue Reading • 4 Jun 2010
80 percent take-up rate for phase one at Marina Bay Link Mall
Marina Bay Link Mall has leased 80 percent of the retail space for phase one in its development, while phase two has seen a healthy take-up rate at 66 percent.The mall, which will open in November 2010, is expected to serve more than 50,000 employees and residents in downtown Marina Bay.More...
Continue Reading • 3 Jun 2010
North Bouna Vista site launched for public tender
A 99-year leasehold site at North Buona Vista Drive was launched for sale by JTC Corp through a public tender.The 1.8-hectare land plot is located at the intersection of Commonwealth Avenue West and North Buona Vista Road.The land site has a potential yield of around 112,000 sq m, out of which...
Continue Reading • 3 Jun 2010
S$113.7 million top bid for Upper Serangoon residential site
A residential site in Upper Serangoon has received a top bid of S$113.7 million offered by property developer Qing Dao Construction. This translates to about S$607 psf.It was the second highest bid recorded for a 99-year leasehold land site sold by the government for non-landed housing in the...
Continue Reading • 3 Jun 2010
Tenders for state land still fetching record prices
A public tender for a 99-year leasehold residential site next to Potong Pasir MRT Station has fetched a record price of $607 psf ppr.This was the second highest price paid for a 99-year leasehold site sold by the government in the country’s Rest of Central Region.However, market analysts...
Continue Reading • 3 Jun 2010
Australian acquisitions may benefit S-REITs
The recent Australian acquisitions by Singapore REITs may be beneficial but could add risks, according to Fitch Ratings.Fitch Ratings’ latest report entitled ’Australian Acquisitions Benefit S-REITs But Add Risks’, maintains that although there are benefits to the offshore...
Continue Reading • 2 Jun 2010