The most coveted address among the traditional prime residential districts is district 9, in the neighbourhood of Claymore Road and Claymore Hill, Ard more Park and Draycott Park and in the vicinity of the American Club and Tanglin Club, just off Orchard Road. Luxury condominiums in both existing and new developments in that area have soared above $2,000 psf in the last two months — which is pretty much...
2009
Sales of uncompleted private homes reached a new high last month. The number of units sold surged more than 50 per cent from June, as improving market sentiments spurred more home buyers to snap up properties. A total of 2,767 units were sold in July, up from 1,825 in June. The developments that sold the most units last month were The Gale, Meadows@ Peirce, Waterfront Key, Sophia Residences and Parc...
Mainboard-listed BBR Holdings has secured a S$104.2-million contract from Singapore's Housing & Development Board (HDB) to build seven blocks of flats in Yishun Neighbourhood 4. This is the company's first HDB contract and work is expected to begin next month. The project will be carried out in 10 phases and is expected to complete by 2012. The work comprises 864 homes, a Child Care Centre, a roof...
An industrial site at Kaki Bukit which attracted a record number of bids has been sold to highest bidder, Kng Development Pte Ltd, for S$12.1 million. The 115,342 square foot plot in Kaki Bukit Road 2 was launched for public tender on July 14, after an application bid of S$5 million was submitted. Eighteen offers were made by the end of the bidding period – the most ever received for an industrial...
WHEN National Development Minister Mah Bow Tan warned against property speculation recently, many - especially those in the real estate business - thought he was being a party pooper coming in to spoil the fun. He had said: "Some of the practices and habits that you saw in the last property boom are beginning to come back, so I think we'll have to be careful." The note of caution was appropriate and...
Work has begun on the construction of Punggol Promenade to develop the waterfront area in Punggol East. It is part of bigger plans by the Urban Redevelopment Authority (URA) to promote local tourism at lesser-known coastal areas in Singapore. Even though many of the plantations and farms in Punggol are now gone, the rustic laidback charm of the area remains and this is a major draw for residents here. By...
Mainboard-listed Hotel Properties has posted a 71.7 per cent drop in second quarter net earnings to S$4.4 million. Revenue for the period dropped 27 per cent to S$103.3 million as the firm's hotels and resorts' business was adversely affected by the global economic crisis. HPL, which owns hotels and properties in Thailand, said the situation there was further aggravated by political instability and the...
City Developments Limited (CDL) has become the latest property heavyweight to give a bullish outlook for the property sector. Executive chairman Kwek Leng Beng said on Thursday the recent strong home sales momentum is sustainable. The comment came as CDL booked a 15 per cent drop on-year in second quarter earnings to S$139.9 million – its fifth straight quarter of decline. Revenue, meanwhile, rose by...
Lincoln Suites, an iconic 29 storey twin height condominium has 175 units. You will be enthralled by the spectacular view from the sky gymnasium while working out on the exercise machine. In addition, there is a 360 degree Spa Pool, Therme Spa with Jacuzzi, 50 m Lap Pool, Massage Decks and a Lounge with Bar Counter. Lincoln Suites attractive location at District 11 means you are quite literally at...
The slide in office rental rates across the region has slowed, and analysts said this is a good sign the market has stabilised. A year ago, office space rental in Singapore's central business district could come up to as much as S$19 per square foot a month. Today, that rate has fallen by almost half. Singapore, which is home to Asian headquarters of a number of foreign companies, has seen rents fall...