There is much to attract shoppers to Orchard Road this year-end shopping season. With three new malls open this year in the prime shopping district, retailers have pulled out all the stops to attract customers. And while the new malls enjoy the novelty factor, the more established ones appear to be holding their own. For instance, Palais Renaissance said it saw an initial drop in traffic of between 10...
2009
The Housing and Development Board’s (HDB’s) latest Build-To-Order (BTO) exercise saw lukewarm demand for smaller units in non-central areas. Housing analysts said this may be due to a shrinking target segment for smaller flats. Singaporeans like to think big, especially when it comes to housing. But Singaporeans wanting a bigger house may not be the only reason for the low demand for smaller...
Singapore's gross domestic product climbed by 3.5 per cent in the fourth quarter of 2009, but growth for the full year is still negative at minus 2.1 per cent. In his New Year message, Singapore Prime Minister Lee Hsien Loong said that next year could see 3 to 5 per cent growth. And observers believe this could result in a move away from manufacturing as the key driver of Singapore's economy. After a...
Singapore achieved 3.5 per cent growth in the fourth quarter of 2009 - after negative growth in the first and second quarters, and 0.6 per cent growth in the third quarter. But for the whole year, growth is still negative at minus 2.1 per cent. The Trade and Industry Ministry had forecast GDP growth for 2009 at minus 2.5 per cent to minus 2.0 per cent. Charting out the goals for 2010 in his New Year...
Regency Park may be 19 years old, but the 292-unit condominium has recently been on the radar of property investors. On Nov 20, three caveats were lodged for its units, with average prices ranging from $1,584 to $1,727 psf. Alexz Wan, an associate with Propmax Real Estate and a property marketing agent who specialises in the project, says investors are betting that new launches in the neighbourhood will...
Office rents in Singapore are down almost 50 per cent for the entire 2009 and observers said this is mainly due to the global economic crisis. But the fall is not cause for undue concern as it follows a 90 per cent spike in rents in 2008. However, analysts said there's room for rents to fall further in 2010. Singapore's office rentals have suffered amid the global downturn as many companies with offices...
Greenlodge Condominium on Toh Tuck Road has been put up for collective sale. The owners are asking for S$135 million for the site, which works out to S$683 per square foot per plot ratio (psfppr) inclusive of development charge. The freehold land of about 14,000 square feet currently comprises 80 units. Its marketing agent, Newman & Goh, believes the site can be potentially redeveloped to 211 units...
The government has announced that its industrial land sales programme for the first half of 2010 will have 10 sites including two on the confirmed list. Sites on the confirmed list will be put up for tender regardless of developers' interest. The two on the confirmed list includes a site at Tampines Industrial Avenue 4 which was previously on the reserve list and a new site at Ubi Road 1. The two...
Far East Organization said it has seen strong demand for its latest project, The Shore Residences, since private previews started two weeks ago. The 408-unit residential development is located in the Katong area. Far East said over 70 units have been sold and prospective buyers have also registered their interest for units, which will be released at the official launch on January 21. Among them, the...
Mainboard-listed property investment firm Japan Land said Wednesday it has appointed Leow Tet Sin as managing director and member of the nominating committee of the company with effect from December 23. The appointment resolves a conflict of interest issue that has plagued the company since last month when Japan Land's independent director, lawyer and Tampines Member of Parliament Sin Boon Ann, resigned...