Marina Bay Sands has leased about 75 per cent of its retail space, or 225 units of the 300 stores at the Marina Bay Sands Shoppes. The integrated resort provides over 800,000 square feet of retail and restaurant space. Sands said about half of the total retail space will be ready by the first phase of its opening in early 2010. And 80 per cent of the stores that are due to open has already been...
2009
A STRONG revival in property sentiment has propelled real estate investment sales in Singapore to surge in the second quarter to hit a total of $1.35 billion, according to latest statistics in a report by Colliers International. This was the highest level achieved since the third quarter of last year, said the property consultancy firm yesterday. The residential sector made up the bulk of the activity,...
Retail landlords are turning to more creative ways to charge rent amid the current downturn and market watchers are also expecting changes in rental structures. This is due to factors such as the increased presence of institutional landlords. The economic slowdown is also expected to lead to falls in retail rentals by up to 20 per cent by the end of the year. An expected glut in retail space, especially...
Property developer CapitaLand has channelled an additional capital of S$1 billion to its wholly owned China, Vietnam and Ascott businesses. The developer said it intends to sharpen its focus for the next phase of growth. The funds came from its recent S$1.8 billion rights issue. Out of the S$1 billion, half will be allocated to CapitaLand China Holdings, while S$299 million will be deployed to its...
Construction firm Lian Beng has clinched a contract worth S$101 million to build a residential project at Bedok Reservoir called Waterfront Key. The contract was awarded by FCL Peak, a joint venture between Frasers Centerpoint and Far East Organization. It covers the construction of about 440 apartment units in eight blocks, together with a basement car park, swimming pool and other facilities. Work on...
Frasers Hospitality has signed a contract to manage its first Fraser Suites property in India's capital, New Delhi. The nine-storey, 90-unit Fraser Suites New Delhi is scheduled to open in October next year. The company said the property has an ecological design, aimed at optimising the use of solar energy for lighting, heating and electricity generation. Situated in the Mayur Vihar area, it is part of...
Steel contractor and civil engineering firm Yongnam said it has won a contract, worth nearly S$39 million for the Marina Bay Sands Integrated Resort. Under the terms of the deal, Yongnam will supply and construct structural steelworks required to support the roof and facade of the North Crystal and South Crystal Pavillions. Both Pavillions are located in the waters of the Marina Bay Reservoirs, a stone's...
The Lenox, a freehold development with 76 residential units and 3 commercial shops. A perfect balance of simplicity and sophistication. Enjoy every convenience imaginable within close proximity. An evening stroll along Siglap Park Connector, shopping at Parkway Parade, feasting on local delights along Katong... A lifestyle envied by many. Location : 396/398 Changi Road Tenure : Freehold Year of Completion...
IMAGINE you are a condominium owner, and your property's management corporation (MCST) has been engaging the services of two administrators, two technicians and some cleaners for the estate. You cheered when the government announced the Jobs Credit scheme earlier this year, thinking the savings will go to your MCST. Well, think again. Like the MCST of Bayshore Park, a condominium on the East Coast, you...
SALES of private homes hit a new high for the second straight month in July, surging about 52 per cent from June. Low interest rates, relatively lower prices and a fear of missing the bottom are some reasons behind the strong sales. Although there were also signs of speculation, a significant portion of the sales was backed by real demand, said analysts. According to the Urban Redevelopment Authority,...