The Urban Redevelopment Authority (URA) of Singapore has begun work on preparing the next Concept Plan. National Development Minister Mah Bow Tan announced at his ministry's National Day Observance Ceremony on Friday. Concept Plan 2011 will be a major review of Singapore's long-term land use plans and strategies to cater to the changing needs of a growing economy and population. Mr Mah said: "This is a...
2009
The Urban Redevelopment Authority (URA) is launching a 2.1-hectare parcel of land at Yio Chu Kang/Seletar roads for public tender in about two weeks. The URA says this follows a commitment from a developer to bid at least S$40.5 million for the site. The land parcel is located within the residential area at Seletar Hills and near the future Seletar Aerospace Park. It will be available for development...
Singapore Exchange's Mainboard-listed Fragrance Group said one of its subsidiaries plans to buy a property at Changi Road for S$33.5 million. The freehold property has a land area of 28,500 square feet. It can yield a maximum permissible gross floor area of around 60,000 square feet. Fragrance said it plans to develop the land into a five-storey mixed development comprising commercial space and...
Conglomerate Fraser & Neave said its third quarter net earnings rose 11.7 per cent to S$123.2 million from a year earlier. Revenue for the three months ended June rose 12.3 per cent to S$1.3 billion. F&N said it saw broad-based solid expansion across key businesses. In particular, its Food & Beverage business maintained its strong growth momentum during the quarter, while properties benefited...
The government has launched a residential site at Dakota Crescent for public tender. This comes after a developer said it would bid at least S$130 million for the site two weeks ago. The land parcel, which was made available for sale through the Reserve List System, has a site area of 1.7 hectares. The 99-year site, which is located near Old Airport Road, can generate a maximum permissible gross floor...
Singapore Exchange's Mainboard-listed Parkway Life Real Estate Investment Trust (REIT) has posted a 13.7 per cent rise in its second quarter distributable income per unit (DPU) to 1.89 Singapore cents, from 1.66 cents a year ago. This was on the back of a 27.9 per cent increase in net property income to S$15 million in the same quarter, from S$11.7 million last year. Gross revenue in the three months...
Singapore Exchange's Mainboard-listed Banyan Tree Holdings said its first real estate investment fund has proven successful. The luxury resorts developer plans to use the fund-based model to develop future projects in markets such as China and the Philippines. Banyan Tree is tapping into its first real estate investment fund to finance the development of its Laguna Hue project in central Vietnam. Its...
LUXE does not have to mean excessive, as Sentosa Cove demonstrates with environmentally-friendly initiatives that characterise the exclusive residential enclave. "From the onset, Sentosa Cove was designed (in 1996) with the natural environment in mind - approximately 40 per cent of our development is dedicated to landscaping and waterbodies," said Mr Jason Yeo, general manager of Sentosa Cove Resort...
ARA Asset Management has announced a net profit of $22.1 million for the six months ended June 30, 2009 (1H2009), a 22% increase from the $18.1 million achieved in 1H2008. The increase in net profit was achieved on the back of a 13% rise in total revenue to $38.5 million in 1H2009 from $34.1 million in 1H2008. ARA says management fees from REIT and private fund management rose 4% to $32.4 million in...
With the residential market picking up strongly, Far East Organization yesterday said it had decided to launch Centro Residences in Ang Mo Kio in phases over the next three years. The reason, it said, was the Government's plan to rejuvenate Ang Mo Kio into a vibrant town. "We see vast potential for the enhancement of real estate values in this area," Far East said in a statement. So far, it has sold...