Soon Hock Tuas Development grabs tender for Tampines Industrial Ave 4
The tender for the Industrial Government Land sales site at Tampines Industrial Avenue 4 was awarded by JTC Corporation to Soon Hock Tuas Development.JTC Corp received 10 bids for the site.Soon Hock Tuas Development submitted the highest bid of about S$33 million for the tender located within...
Continue Reading • 2 Jun 2010
Asia Pacific hotel transactions to be around 29 percent of global sales
Asia Pacific hotel transactions are seeing a boom, with sales expected to be around US$3.7 billion (S$5.2 billion) - or 29 percent of global sales - in 2010, according to Jones Lang LaSalle.It said that transaction volume is estimated to reach US$12.8 billion (S$18.1 billion) this year. Asia...
Continue Reading • 2 Jun 2010
Waldorf and Foh Pin Mansions up for sale
Two residential sites were put up for collective sale for at least $22.5 million each, whereas another en bloc deal for $95 million has been sealed. The 11-storey Waldorf Mansion in the Balestier area occupies 11,384 sq ft and was built in the 1990s. The site is zoned for residential...
Continue Reading • 1 Jun 2010
Far East to launch six projects in H2
Property developer Far East Organization will launch six residential projects in the second half of 2010, with over 1,500 residential units, said Chia Boon Kuah, COO of FEO.Mr. Chia, who is optimistic on the mass and high-end market sectors of the private property market here, said that most - if...
Continue Reading • 1 Jun 2010
Singapore REITs raise gearing levels to boost acquisitions
The Real Estate Investment Trusts (REITs) of Singapore have strengthened and are now gearing to hit the acquisition trail, analysts claimed.Singapore's REITs have refinanced debt and recapitalised their balance sheets, which will help them to post better figures this year. After a challenging...
Continue Reading • 1 Jun 2010
Singapore office property market on the upturn
The office property market in Singapore is picking up, said brokerage company Nomura.Nomura stated that amid stronger-than-expected demand, office rentals in the country are bottoming out, prompting tenants to commit sooner than expected.A decrease in occupancy costs, as well as the desire to...
Continue Reading • 1 Jun 2010
NUS home price index in April surges 2.5 percent
The overall price index for non-landed private homes in Singapore surged 2.5 percent in April over the previous month, according to the latest estimates released by the National University of Singapore.The latest figures reflect an increase of six percent since end-2009, and a 32.8 percent...
Continue Reading • 1 Jun 2010
Resale homes in Districts 1, 2 & 4 in high demand
Property consultancy group CB Richard Ellis said that resale contracts of non-landed private homes in districts 1 and 2 – which cover the country’s financial district – and district 4 – which includes Keppel Bay, Sentosa Cove and Harbourfront areas – reached $750.8...
Continue Reading • 1 Jun 2010
Resale of waterfront and city homes in demand
More Singaporeans are now buying resale waterfront and city homes in the country.According to CB Richard Ellis (CBRE), the secondary sales of homes in the major inner city districts like Marina Bay and Sentosa reached S$750.8 million last year. This is higher than the average secondary sales...
Continue Reading • 1 Jun 2010
180 units sold at The Minton project
Property developer Kheng Leong has sold 180 units in The Minton condo project in Hougang over the weekend.The units sold were part of the 300 units released in the 1,145-unit project at Lorong Ah Soo/Hougang Street 11. It has an average selling price of about $850 psf.Property agents marketing...
Continue Reading • 31 May 2010
Scotts Road bungalows to get a facelift
The notable stretch of bungalows from 29 to 35 Scotts Road will receive a facelift, adding more buzz as it has been set aside by the Singapore Land Authority for redevelopment into a lifestyle hub.Operators of fitness and health outlets, bridal and wedding shops, beauty services and restaurants...
Continue Reading • 31 May 2010
Singaporeans opt for pricey homes, says report
Foreigners no longer accounted for most buyers who purchased homes at more than $5 million, according to a recent study conducted by Savills Research and Consultancy, revealing that Singaporeans are now buying up pricey homes.The report showed a stunning turnaround in a trend which has prevailed...
Continue Reading • 31 May 2010
Leg up for property companies with land in Johor
Several property firms owning large land parcels in Johor can expect greater investor interest as Malaysia and Singapore resolved their previous issues.The special economic zone of Iskandar Malaysia and Johor's property sectors are likely to be the biggest...
Continue Reading • 27 May 2010
Developers to launch more projects in subdued market
Developers are continuously releasing new projects despite a more subdued outlook in the real estate market.Property developer Kheng Leong group is launching a preview for The Minton at Lorong Ah Soo/Hougang St 11 at an average price of $850 psf. It is expected to release an initial batch of 300...
Continue Reading • 27 May 2010
Food Empire's subsidiary acquires property for $13.9m
Food Empire Holdings Limited announced that its subsidiary, Empire Instant Food Pte Ltd, is set to acquire a freehold property worth $13.9 million or US$9.9 million.The property, which is located at 31 Harrison Road in Harrison Business Suite, has a maximum land area...
Continue Reading • 26 May 2010
9 properties of three family firms up for sale
Nine properties owned by three family firms (Lee Tung Co (Pte) Ltd, Chow Cho Poon (Pte) Ltd and Associated Development Pte Ltd) are being liquidated and put up for sale through public tender.The three firms were founded by real estate investor Chow Cho Poon, who...
Continue Reading • 26 May 2010
Owners to collect gains for homes near KTM
Property owners near Upper Bukit Timah and Bukit Timah will be celebrating, and maybe collecting capital gains, when the Malayan Railway (KTM) station moves to Woodlands from Tanjong Pagar next year.The railway runs through a housing area, where residents have long...
Continue Reading • 26 May 2010
Ophir-Rochor land site could be worth hundreds of millions of dollars
An Ophir-Rochor land parcel, which a Malaysia-Singapore joint venture company, M-S, might put up for redevelopment, could be worth hundreds of millions of dollars. According to several analysts, if M-S opens up the parcel to property developers, it could trigger...
Continue Reading • 26 May 2010
Seven bids for Sengkang plot
An executive condominium (EC) spot at Sengkang has attracted seven property developers with a top bid of $176 million, which is above market expectations. However, the aggressive bidding by property developers seems to have abated, according to analysts.The seven...
Continue Reading • 26 May 2010
Singapore ranks as world's 17th most expensive location for retail rents
Singapore has climbed up one spot in the latest survey conducted by CB Richard Ellis for the world's most expensive retail locations.CBRE’s Global MarketView report on the retail sector showed that prime retail rents in the country ranked 17th worldwide as the most expensive location during...
Continue Reading • 26 May 2010