Waterscape at Cavenagh launching soon
Property developer Hiap Hoe Group will be launching its latest residential project – the Waterscape at Cavenagh.The 101,193-sq-ft freehold development project will occupy the former Le Chateau and Clemenceau Court site and it is just a five-minute walk to Orchard MRT station.The project...
Continue Reading • 4 Mar 2010
Developers gear up for more prime property launches
Property developers are preparing to launch more projects, particularly prime developments, in a booming real estate market driven by confident buyers on the back of a low interest rate environment and improving economy.Last month’s anti-speculation measures by the government are having...
Continue Reading • 4 Mar 2010
Major tenants looking for trendy new office space
Singapore's improving office leasing deals, which began in July 2009 shows no signs of letting up. The good demand has persuaded some property consultants, that rentals of quality office space in the country’s financial district could be poised to perk up.The Infocomm Development Authority...
Continue Reading • 3 Mar 2010
Straits Trading set to develop 12 freehold bungalows at Chancery Lane
The Straits Trading Company’s property unit is set to develop a cluster of freehold bungalows in the prime area of Chancery Lane, as the mainboard-listed firm is acquiring Tertius Development, the original developer.The Chancery Five project will have 12 bungalow units located on a...
Continue Reading • 3 Mar 2010
Court gives green light for Koon Seng en bloc sale
The Koon Seng en bloc sale, which is comprised of nine pre-war terrace houses and Koon Seng House, a four-storey block of 24 apartments in Joo Chiat, can now go ahead with its sale.On Tuesday, the Court of Three Judges dismissed the appeal of Goh Teh Lee, the lone objector to the sale. It ruled...
Continue Reading • 3 Mar 2010
Copthorne Orchid to proceed with condo plans
As its tenants have heard before, the Copthorne Orchid Hotel will be converted into a condominium.In 2005, property developer City Developments Ltd (CDL) expressed its plan to turn the hotel into a condominium, but it did not happen.CDL owns Millennium & Copthorne (M&C), which operates...
Continue Reading • 2 Mar 2010
Property buyers not deterred by speculation curbs
More than 300 of the 350 units released at The Estuary condominium have been sold as of Monday.The MCL Land project in Yishun is the first major property launch since the government announced its measures to curb property speculations.Over 80 individuals were seen in The Estuary's showflat at...
Continue Reading • 2 Mar 2010
DC rates for residential homes increase
The improved real estate market has prompted the government to increase the fees that developers pay to develop the use of residential sites.This fee, referred to as the development charge (DC), closely reflects the recent values of properties and lands, as it is adjusted every six months. A...
Continue Reading • 1 Mar 2010
Developers set to convert CBD offices into prime new homes
About one million sq ft of office space located in the Central Business District (CBD) is set to be converted into at least 1,000 private homes within the next three years.According to property analysts, developers are now considering to renovate older office buildings in the current CBD in...
Continue Reading • 1 Mar 2010
CDL to start construction of its South Beach project next year
City Developments (CDL) will start building the $2.5-billion South Beach project in Beach Road next year, said CDL Executive Chairman Kwek Leng Beng.Mr. Kwek gave recent updates on the project, as he unveiled that the company’s net profit in Q4 made a 77 percent increase. The project was...
Continue Reading • 26 Feb 2010
URA releases Hougang site for tender
A 99-year leasehold site at Hougang Ave 2 is now open for application from interested developers, according to the Urban Redevelopment Authority (URA).Six new residential sites had been introduced by URA to the reserve list under the government’s land sales programme in the first half of...
Continue Reading • 26 Feb 2010
REDAS members to bring forward property launches
The Real Estate Developers' Association of Singapore (REDAS) recently announced that its members will bring forward property launches.REDAS added that its efforts are only limited by the land available and thus, adequate supply remains the long-term solution to a stable market. The association...
Continue Reading • 26 Feb 2010
MBS CEO says April 27 target is 'ambitious'
With about two months to go before the Phase One opening of Marina Bay Sands (MBS), Thomas Arasi, its president and chief executive, says the construction schedule of the project is 'ambitious'.Still, Mr. Arasi remains positive that it will go well.“Everything is aligning itself to the...
Continue Reading • 26 Feb 2010
Record price achieved for Ardmore Park unit
Prime property prices may still be far behind the record levels hit during the property boom in 2007, but one project in Orchard Road recently achieved a new record price.A 2,885-sq-ft unit at Ardmore Park was sold for $10.64 million, or $3,688 psf – a record price for the project.According...
Continue Reading • 24 Feb 2010
Swiss bank chief remains optimistic about Singapore property market
Burkhard Varnholt, chief investment officer of Bank Sarasin, said that Singapore real estate is “exceptionally attractive” from a yield and capital appreciation perspective.Dr. Varnholt dismisses fears of a bubble, even with the introduction of new measures in the country to control...
Continue Reading • 24 Feb 2010
Prime office rents continue to fall
Prime office space rental rates continue to soften and could slip another two to three percent this quarter, according to Cushman & Wakefield.“The relocations of office tenants from existing to new buildings will exert pressure on rents...prime rents would remain soft over the first...
Continue Reading • 24 Feb 2010
Marina Bay Sands set to open on April 27
Las Vegas Sands Corp has announced plans to launch the first phase of the $5.5-billion Marina Bay Sands on 27 April 2010.Marina Bay Sands, the most expensive integrated resort property ever built, will immediately hold its first event – the annual conference of the Inter-Pacific Bar...
Continue Reading • 24 Feb 2010
Government has no control over property prices, says PM Lee
Prime Minister Lee Hsien Loong has reiterated for the second time in a month that his administration has no control over property prices.“We can try to influence it, but whether it goes up or goes down depends on sentiment, depends on what happens in the region and the world…,”...
Continue Reading • 23 Feb 2010
New property measures do not appease property fever
New measures were introduced on Saturday to curb speculation in the real estate market.As such, all residential properties purchased on Saturday and sold within a year will be imposed with a Seller's Stamp Duty, while home loans from financial institutions will be capped at 80 percent of the...
Continue Reading • 22 Feb 2010
Siglap V unit sold for $1,634 psf
Few people associate the leafy suburbs of Siglap with high property prices. However, one unit there has been sold for about $1,634 psf – a surprising price for a project that is not situated in the central area.According to data by the Urban Redevelopment Authority (URA), the Siglap V...
Continue Reading • 19 Feb 2010