Wellness township project to be released in 12 months
Singapore and Malaysia have planned to build a joint “wellness township”, which will set aside a huge 200-hectare site – the size of 374 football fields.The leaders of the two countries also discussed the first water agreement that will expire on 31 August 2011. Singapore's...
Continue Reading • 25 May 2010
Shophouses in Hamilton Road up for sale
Four adjoining two-and-a-half storey redeveloped shophouses located at 35 Hamilton Road are up for sale.The 8,775-sq-ft. freehold site has a combined gross floor area of 15,489 sq ft. Its last tenancy is expiring in March 2012, according to Colliers International, the property’s marketing...
Continue Reading • 25 May 2010
Bintan Villas a hit with expats
Over at Bintan’s first seaside residential estate, more than 10 units have been sold, mainly to expats living in Singapore, according to the company behind the project.The Pantai Indah estate is a gated community on a 13-hectare land at Bintan Resort's Lagoi Bay. The project, with162...
Continue Reading • 25 May 2010
Office market improves with rents going up
The commercial real estate sector’s sentiment is improving as renting activity shows signs of growing with the economic recovery.Prime office vacancy in Singapore has declined but only rents for new office buildings have increased, as property consultancy firms have detected increasing...
Continue Reading • 25 May 2010
Current KTMB station site provides opportunities for development
The current Malayan Railway station site located at Tanjong Pagar provides tremendous opportunities for commercial and residential development. However, these will likely take shape in 2015 or 2016, according to some property watchers.Malaysia and Singapore announced the relocation of Tanjong...
Continue Reading • 25 May 2010
Capella Singapore joins Conde Nast Traveler Hot List
The ultra-luxury resort on Sentosa Island – Capella Singapore – has been listed on the annual Hot List of Conde Nast Traveler, which recognizes the top 134 new hotels in the world.Capella Singapore, which is surrounded by 30 acres of rainforest, was opened in March last year on...
Continue Reading • 24 May 2010
Woodlands Waterfront Phase One opens
Singapore’s latest recreational destination in the north – Woodlands Waterfront – was officially opened yesterday.Organized by Nee Soon Central, Nee Soon East SMCs and Sembawang GRC, the opening was held in conjunction with a sports carnival and a community walk attended by over...
Continue Reading • 24 May 2010
Prices increase but sub-sales remain steady
Investors should be prepared to fork out more cash if they wish to enter the sub-sale market.Prices have risen during the first quarter even though the volume of sub-sale transactions of non-landed homes remained stable at 13 percent of the total non-landed sales, according to the latest report...
Continue Reading • 24 May 2010
MGPA sells Cascadia units to Alpha fund
MGPA, a private equity property group, is said to have sold its share in 162 apartments it purchased at The Cascadia three years ago to a fund managed by Alpha Investment Partners by Keppel Land.The average selling price at the latest sale of the freehold apartment on Bukit Timah Road ranges from...
Continue Reading • 21 May 2010
Shopping mall in Serangoon Central reports strong demand
Owners of a new shopping mall in Serangoon Central, known as nex, have announced strong demand for the property, with 95 percent of the total space already leased out to more than 300 confirmed tenants.Property developer Gold Ridge has disclosed the figures with the announcement that the property...
Continue Reading • 21 May 2010
JTC launches tender for North Buona Vista Drive site
JTC Corporation (JTC) has announced that the 1.8-ha, 99-year leasehold site in North Buona Vista will be launched for public tender after it has accepted an application from a developer.The unnamed developer committed to bid a minimum price of S$320 million or US$229 million for the land site,...
Continue Reading • 21 May 2010
MCL Land tops Hougang residential site tender
Property developer MCL Land outbid six other developers for a 99-year leasehold residential site at the junction of Hougang Avenue 2 and Yio Chu Kang Road.MCL Land offered a top bid of $207.5 million, which translates to about $456 psf ppr. This was higher than the analysts' projection of $310...
Continue Reading • 21 May 2010
Private home market remains firm in Q1
The private home market remained firm during the first quarter of 2010, with more expensive units changing hands and transaction volumes on the rise.Based on DTZ’s analysis of caveats lodged, there were 8,159 private residences sold in Q1 2010, 22 percent higher than that in the preceding...
Continue Reading • 21 May 2010
Singapore ranks 11th overall for leading retailers
A survey of 294 of the world’s leading retailers showed that 39 percent of them are in Singapore, a smaller percentage than in Asian cities such as Shanghai, Tokyo, Beijing and Hong Kong.The study, conducted by estate firm CB Richard Ellis (CBRE), indicated that 40 percent of the retailers...
Continue Reading • 20 May 2010
Space snapped up for new office projects
The increasing trend in office rental deals continues, helping to take in more of the space in new office projects being developed.Most of the leasing buzz has focused on 50 Collyer Quay and Ocean Financial Centre (OFC), which will be completed in 2011, and 71 Robinson Road, which was finished in...
Continue Reading • 20 May 2010
Construction firms grab the spotlight
Construction firms were once struggling to qualify, but now they are prominently appearing on the top ten spots for this year’s SME Growth Excellence Recognition Awards.Compiled by HSBC Singapore and DP Information Group, five construction firms were among the top ten small- and...
Continue Reading • 19 May 2010
Twin Peaks project launching next month
Property developer Overseas Union Enterprise (OUE) will be launching the Twin Peaks project located at the site of The Grangeford next month.Units in the 99-year Twin Peaks project at Leonie Hill Road will be fully furnished and OUE will launch the project at “market rates”, said OUE...
Continue Reading • 19 May 2010
HDB receives $148.89m top bid for Yishun DBSS site
HDB received the highest bid of $148.89-million for a public residential site at the corner of Yishun Avenue 11 and Yishun Central through its Design Build and Sell Scheme (DBSS).The $148.89 million top bid, which reflected a unit price of $180 psf ppr and being sold on a 103-year leasehold, came...
Continue Reading • 19 May 2010
Ascendas optimistic on Asia, plans to expand
Ascendas, a business space provider in Singapore, has announced that it plans to expand in ten Asian countries over the next five years, said Chong Siak Ching, the company’s chief executive officer.The economic crisis is fading, and while growth is still unbalanced, the “imbalance...
Continue Reading • 19 May 2010
Call to launch office sites to avoid supply crunch
Time is ripe for the Singapore government to release additional sites for office development in the H2 2010 Confirmed List to prevent a potential supply crunch, according to some property consultants.While others think these new office sites must be launched in prime CBD areas like Marina Bay,...
Continue Reading • 19 May 2010