SC Global Developments has received a strong response to its private views for its latest high-end residential project, Martin No 38. All 30 units released in the first phase of marketing have been sold at an average price of $2,130 per square foot (psf), above the expected average price of $2,000 psf. "We are naturally very pleased with the response and how well-received the project has been by the...
September 2008
ECONOMIC growth forecasts may be trimmed, and hiring may falter, but a slowing economy may actually turn out to be a blessing in disguise for Singapore's integrated resorts (IRs). So says Mr Mike Barclay, the new chief executive of Sentosa Leisure Group, which manages the 500-hectare (1,235-acre) island on Singapore's southern tip where the Resorts World at Sentosa integrated resort is being built. "With...
Singapore has recorded robust demand in the office sector for the first six months of this year. According to a mid-year review by Colliers International, the Singapore office sector has seen high rents and low vacancy rates, with office occupancy costs the third highest in the Asia-Pacific region. On average, annual Grade A office rents in Singapore fetched US$125.06 per square foot - behind Hong Kong...
The Ascott group, wholly-owned by CapitaLand, has sold the 88-unit Somerset Orchard serviced residence for S$100 million. The sale to OG Private Limited translates to some S$1,530 per square foot. With a carrying value of S$57 million, CapitaLand is expected to recognise a gross gain of about S$43 million from the deal. After the sale, Ascott will continue to manage the serviced residence for 15 years,...
The turmoil in the Asian markets last week is just the beginning of worse to come, said economists and analysts, and Singapore is unlikely to be spared in the weeks ahead. There were jitters, even signs of panic, in Asian bourses the end of last week, with the rise in United States jobless claims — the highest in five years — spooking market sentiment. The Straits Times Index (STI) dropped 51.84...
Never mind that 100,000 spectators are expected to descend on the Marina Bay area. Even all-out efforts by the management of shopping centres to tap the crowds have yet to dispel the lingering doubts of retailers that their cash tills will be ringing during Singapore’s inaugural Formula 1 race at the end of the month. Some retail tenants still think that Singapore’s tourism event of the year on Sept...
WELCOME TO CITY LIVING AT ITS MOST SPECTACULAR Rising to a high of 40 storeys along Beach Road, Concourse Skyline is a distinctive urban address that offers discerning home owners exceptional views, uncompromised luxury, and the privilege of being in the heart of Singapore's brand new downtown. Get ready for cosmopolitan living with front row seats - reserved just for you. DESIGNED FOR THE...
The Ministry of National Development is "seriously considering how to create townships for foreign workers which are sustainable and self-contained". Foreign Minister George Yeo said this to reporters at a community event on Sunday. Foreign workers come under the spot light, after an announcement of plans to turn the former Serangoon Gardens Technical School in Burghley Drive into a hostel for 1,000...
Building an Icon British-based Iraqi architect Zaha Hadid is a force to reckon with. From the DNA-inspired sci-fi futurism of Singapore’s Biopolis to the deconstructionism of Cincinnati’s Contemporary Arts Centre, Hadid has created sculptures out of buildings. So when CapitaLand announced in July 2008 that the renowned architect will be designing its seven 36-storey apartment blocks worth S$3 billion...
DESPITE the sluggish economy, downtown office rentals show no sign of budging from high, with multi-nationals seemingly largely unfazed by top dollar demands for prime space. Yesterday, office landlord CapitaCommercial Trust (CCT) announced that mining giant BHP Billiton had renewed its lease at Capital Towers, while JPMorgan Chase expanded its premises by one-and-a-half floors in the same...