Category Archives: Office / Retail Space

More co-working spaces sprouting up in CBD as demand rises

Property developers are leasing more space to co-working space operators, even as demand rises from businesses in the new economy looking for flexible work areas. Currently, there are 53 co-working space locations in Singapore, almost one-third of which are in … Continue reading

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DBS Group selling PwC Building to Manulife

In the first transaction of an entire Singapore office building this year, DBS Group announced on Friday evening that it is selling PwC Building at 8 Cross Street to an indirect subsidiary of Manulife Financial Corp. The deal values the … Continue reading

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Soaring Hong Kong office rents are now triple those of Singapore

Hong Kong’s office rents are almost three times more expensive than those in Singapore as property markets in two of Asia’s largest commercial centers have diverged sharply in recent years. The spread has boosted Singapore’s appeal as a competitive business … Continue reading

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Cushman & Wakefield secure approval for redevelopment of Katong Shopping Centre

CUSHMAN & Wakefield, together with the Collective Sale Committee, has secured approval for the redevelopment of Singapore’s first air-conditioned mall Katong Shopping Centre for commercial and serviced residence use. The reserve price remains the same at S$630 million which translates … Continue reading

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CDL plans to spruce up Republic Plaza

Property and hotels group City Developments Ltd (CDL) is planning a major refurbishment of its flagship Singapore office property in Raffles Place, turning an imminent outflow of some tenants into an opportunity to spruce up the ageing building. CDL deputy … Continue reading

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NTUC co-op tipped as front runner for Jurong Point

A New party has emerged in the race for Jurong Point mall. The Business Times has learnt that Mercatus Co-operative – an NTUC social enterprise that owns and manages suburban malls – is now the front runner for Jurong Point. … Continue reading

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The Prospex back on the market, with lower price tag

THE Prospex, a nine-storey retail and office building next to Bugis+, is back on the market, this time with an indicative guide price “in excess of S$70 million”. This appears to be lower than the S$80 million asking price when … Continue reading

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GSH, Vibrant stand to book nice gains from GSH Plaza sale

GSH Corporation stands to make a net profit of nearly S$80 million from disposing of its 51 per cent stake in the consortium that holds GSH Plaza. This figure is based on information released in the regulatory filing by GSH … Continue reading

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GSH-led consortium in deal to sell company holding GSH Plaza to HK-listed Fullshare

A CONSORTIUM led by Sam Goi’s GSH Corporation has entered into a binding term sheet with Hong Kong-listed Fullshare Holdings for the proposed sale of the consortium’s investment vehicle, Plaza Ventures, at S$725.2 million. Plaza Ventures is the vehicle the … Continue reading

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Robinson Towers carpark to use smart vehicles for parking

WHEN the redeveloped Robinson Towers opens in end-2018, it will be equipped with a new automatic carpark system that uses battery-powered automated guided vehicles (AGVs) instead of conveyor belts or lifts. MHE-Demag, the material-handling arm of industrial group Jebsen & … Continue reading

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