DESPITE the recession, the saga over the Gillman Heights en bloc sale continues, as some minority owners from the 608-unit development off Alexandra Road take their fight to the highest court to block the sale. The 10 minority owners have filed for a hearing with the Court of Appeal in a bid to overturn the decision made by the High Court in June that allowed the $548 million collective sale to...
2008
... as prices of high-end private properties move down PRIVATE home launches and sales were up last month after a dismal October. The number of private residential units launched more than doubled from October's 159 to 382, and units sold increased from 118 to 192, according to the data released by the Urban Redevelopment Authority (URA) yesterday. Analysts said the jump in units launched reflects...
WILL I ever get to live in peace? My condominium's third sales committee disbanded a few months ago. We thought we had seen the last of them due to the tough economic times. But I received a new circular in my mailbox last week, saying yet another sales committee wants to go en bloc. Just as I was heaving a sigh of relief and thinking that I could now renovate my apartment, too. When will it end? Surely...
Sales of uncompleted private homes rebounded 63 per cent on month in November, after falling 70 per cent in October. Some 192 new units were sold in November. Data from the Urban Redevelopment Authority (URA) also shows that developers put out more units for sale. According to analysts, many developers had launched new projects in November after delaying launches in October, in the wake of the global...
THE market may have cooled, but en bloc fever is even higher than before at Laguna Park, as approval from owners at the 30-year-old condominium crossed the 80-per-cent threshold on Friday, allowing the en bloc sales process to proceed to the marketing stage. Now the residents are optimistic the prime location of the 528-unit property will help them get their asking price of $1.2 billion, despite the...
While the en bloc market may have slowed, the residents of Laguna Park are optimistic their prime location will help them get their asking price of S$1.2 billion. The en bloc sale of the 30-year-old condominium crossed the 80 per cent threshold on Friday allowing the process to proceed to the marketing stage. This is despite the property market softening from the economic slowdown. With schools like...
Mah: HDB upgrading a priority as deferred projects reinstated SOME of the Government's $4.7 billion worth of deferred construction projects are to be brought forward again, in a move expected to help smaller local building contractors. And priority will be given to smaller projects, National Development Minister Mah Bow Tan said. "We are also looking to see whether the different ministries are able to...
The fallout from the US sub-prime crisis has filtered down to the property market in Singapore. Property consultancy CB Richard Ellis (CBRE) says total investment sales in Singapore properties fell 70 per cent from 2007, to S$17.83 billion this year. CBRE says one year on, the crisis in the US has made investors of Singapore properties more cautious. But the sharp slowdown in transaction volumes was...
Two public housing upgrading programmes will be brought forward with other government projects in efforts to increase spending and stimulate the Singapore economy. Singapore previously deferred S$4.7 billion worth of public sector projects due to high construction costs. The Ministry of National Development said now is a good time to do so with material costs looking to fall further. Residents in older...
FOR 25 years, it has been Singapore’s main wholesale distribution centre for vegetables, fruits and dried food products. In recent years, it also made the headlines as a chikungunya fever cluster, the crime scene of the murder of Huang Na in 2004 and a quarantine area during the Sars outbreak in 2003. Now, the days of the Pasir Panjang Wholesale Centre (PPWC) may be numbered. The Housing and...