The dip in consumer spending due to the economic downturn has caused concerns among many retailers who are paying top dollar for retail space. Market watchers said they do not expect any rental growth in the 4th quarter, but some retailers may be holding out for concessions. Orchard Road, Singapore's prime shopping district, is set to welcome four new malls next year - ION Orchard, 313@Somerset, Orchard...
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Frasers Hospitality has signed agreements to manage its first three properties in India. The first is a 50-unit serviced residence which will open in June next year, near Bangalore's new international airport. The second is a 153-unit serviced residence near the Bangalore IT Park. Both properties are owned by the Skyline Group. Under a third contract, Frasers will manage 99 serviced apartments for the...
MPs suggest using Govt buildings as interim housing, more levels of rental subsidies IF WE can make space for foreign workers in disused schools, why can’t we do the same for Singaporeans in desperate need of housing, suggested a Member of Parliament yesterday. Why not use unoccupied Government buildings as interim housing for the “homeless”, asked MP for Sembawang GRC Lim Wee Kiak. He was...
Location: Makeway Avenue (Newton) Tenure: Freehold Year of Completion: 2011 Total Units: 103 apartments in 2 towers of 13 & 19 storeys + 1 strata bungalow Unit Types: 1 bdrm / 1+study ~ 441-743 sqft 2 bdrm / 2+study ~ 624-915 sqft 2 / 3 bdrm duplex penthouse ~ 786-1464 sqft 4+1+1 bungalow ~ 9462 sqft Modern architecture with sleek lines and clean design. Living in the inner fringe of City. Great...
The Housing and Development Board (HDB) will continue to keep tabs on flat owners who default on their HDB mortgage payments. It stressed that long term measures to help these owners manage their mortgage payment is the best solution, and that compulsory acquisition of the flat is a last resort. As of October 2008, some 33,000 flat owners owed HDB arrears of three months or more. They make up less than 8...
Structural networks like pipelines, cables, ducts and railway lines will be subjected to property tax by January 1. The provision is one of the changes to the Property Tax Act which was passed in Parliament on Tuesday. Senior Minister of State for Finance Lim Hwee Hua says the Inland Revenue Authority of Singapore (IRAS) currently taxes structural networks together with the building to which they are...
Parliament has passed the Property Tax Amendment Bill. One of the changes seeks to provide clearer rules under which structural networks of pipelines, cables, ducts and railway lines are taxed. This will bring Singapore in line with the practice in the United Kingdom and Hong Kong. While machinery is excluded from property tax, these structural networks - if they extend beyond the buildings which house...
The Urban Redevelopment Authority (URA) is seeking public feedback on the proposed names for two iconic spaces at Marina Bay. The first is the landmark bridge which comprises two linkways for pedestrians and vehicles going to Marina Centre from the Bayfront area. Designed to resemble the double helix structure of a DNA, the proposed names for the 280-metre pedestrian crossing are "The Double Helix" and...
YOU might have noticed that there are fewer ads for home launches. Perhaps you have also overheard that some condominiums in a prime area just went for a price you could only dream of a year back. Yesterday, official data bore out the coffee-shop talk that has been making the rounds. Reflecting weak consumer confidence, private homes sold and launched last month plunged to their lowest since June last...
IRs expected to meet economic targets, albeit with impact from crisis THE promise, when the Government decided to allow the Integrated Resorts (IRs) in, was a $1.5-billion increase in our Gross Domestic Product (GDP) and 35,000 new jobs - but will these economic rewards now materialise? And if so, when? In response to questions by Nominated MP Eunice Olsen and Non-Constituency MP Sylvia Lim yesterday,...