A cluster of 18 shophouses fronting Joo Chiat Road and Onan Road has been sold to property developer World Class Land for S$25.6 million. This translates to S$410 per square foot on the existing gross floor area of the properties. World Class Land is a unit of public-listed Aspial Corp. The freehold site consists of two back-to-back rows of nine shophouses, each three-storeys tall. The total gross...
2009
Niche property developer Hiap Hoe said its net profit more than tripled in the second quarter from a year ago to S$9.9 million, while its turnover quadrupled to S$31.9 million. The firm said the healthy numbers were driven by the progressive revenue recognition of its new residential developments, Cuscaden Royale and Oxford Suites. By the end of June, 55 per cent of revenue for Cuscaden Royale and 62 per...
Contractors in Singapore need to look beyond the country for businesses. Despite the increasingly positive outlook for private sector construction projects, the Singapore Contractors Association said that local firms should tap into opportunities in the region. According to a forecast from the Building and Construction Authority earlier this year, demand for projects in 2009 will come in at between S$20...
Singapore’s only beachfront condominium (with direct beach-access) Location: Sentosa Cove (District 4) Tenure: 99 years leasehold Total Units: 41 Unit Size: 2,700 to 6,800 sqft, penthouses between 4,000 and 8,000 sqft Email [email protected] for more...
The Urban Redevelopment Authority (URA) is embarking on a survey to establish lifestyle needs and trends in Singapore. The findings will provide inputs to the ongoing Concept Plan 2011 Review, which maps out the long-term directions for land use and transportation plans over the next 40 to 50 years. Through this survey, URA also hopes to discover the lifestyle needs and aspirations of residents so that...
Industry watchers said the boutique hotel sector in Singapore is under-penetrated. They said there's room for at least another 10 new ones to spice up the local hospitality scene and to attract more niche travellers looking for something different. Take a shower right in the middle of the room just a few feet from your bed is what you get to do for about S$385 per night in a basic executive room at...
Ascendas Reit said Tuesday it is launching a private placement of new units to raise S$301.6 million in total proceeds. It is placing out 185 million new units at an issue price of between S$1.63 and S$1.70 per unit. At those prices, the new units represent a discount of between 3.4 per cent and 7.4 per cent from the Reit's last closing price of S$1.76. Ascendas Reit said most of the net proceeds or...
Mainboard-listed K-Reit Asia said on Tuesday the CEO of its management firm is stepping down. 49-year-old Tan See Yiow will be resigning on August 17, and will be replaced by Ng Hsueh Ling. Prior to this appointment, Ms Ng has held key positions with other real estate companies. Most recently, she was the CEO of Ascendas Korea and Japan from 2007 to 2009. K-Reit Asia said Mr Tan will remain as an...
Residents in Bukit Panjang will soon have lift landings on every floor. Work has already been completed on 124 Housing and Development Board (HDB) blocks under the lift upgrading programme. And upgrading of the remaining eight eligible blocks will be finished in a few months’ time. The S$80 million lift upgrading programme is part of wider measures to develop the town's infrastructure. Ramps and...
With the opening of the $6 billion Resorts World at Sentosa fast approaching, there is a buzz of excitement as investors anticipate the influx of visitors expected in 1Q2010. To cater for a surge in tourists and locals to the island, a 620m $70 million walkway is being constructed and is expected to be completed in November 2010. As development at the upcoming casino gain traction, interest in properties...