The Urban Redevelopment Authority (URA) has released a site at Woodlands Avenue 12 for sale from the Reserve List. The plot of land, which is meant for industrial development, will have a site area of about 3.2 hectares. It can generate a maximum gross floor area of 32,279 square metres and has a 60-year-lease period. URA said the site can be developed for a variety of uses under "Business 1" zoning....
2009
Marina Bay Sands on Monday said it has signed over 30 deals for premier events at its new Expo and Convention Centre. This is expected to attract over 150,000 attendees to the integrated resort when it opens next year. Marina Bay Sands said it has sealed events from a wide range of industries, from the engineering and legal sector to life sciences and renewable energy. Some events are marking their...
Singapore-based real estate investment house Pacific Star has announced the successful completion of the refinancing programme for Capital Square. The S$549 million facility included S$320 million of senior notes - the largest Singapore dollar corporate bond issue so far this year. The firm said the proceeds from the facility will be used to refinance the existing debt obligations and working capital of...
Mainboard-listed Soilbuild Group has been appointed by Kolette, a subsidiary of CSC Holdings, to manage and market a S$51.7-million business space development project in Tuas. The development will consist of 70 single, double and three-storey high terrace factory units, ranging from 3,000 to 6,000 square feet each. Under the agreement with Kolette, Soilbuild will receive a portion of these units for...
The Victoria Street Wholesale Centre will relocate in 2011, and most of the dry food shopkeepers will be moving to the new location. And the market's merchant association hopes the move will help revamp the market's image. Construction of the new Victoria Street Wholesale Centre will start in April next year and is expected to finish in late 2011 or early 2012. The new 8-storey building will be situated...
Mapletree Investments has signed a Memorandum of Understanding (MOU) on a joint venture with Japan's ITOCHU Corporation to undertake "Build-to-Suit" development projects for logistics tenants in Japan. The companies agreed to extend their collaboration on investment and development of logistics, retail, industrial and commercial real estate projects in Japan, Singapore and the rest of Asia. The extension...
The first group of foreign workers moved into a converted dormitory at Serangoon Gardens estate on Friday. The issue first made headlines last year, with nearby residents worried about safety and privacy issues. A wire fence around the dorm is all that separates the former school from a tennis centre and the rest of the Burghley Drive private estate. But many residents in the area on Saturday did not seem...
Singapore investors are not alone in their love for property. Those in Hong Kong have also allocated 25 per cent of their portfolios to property, according to a survey of high net worth individuals conducted by Barclays Wealth. In fact, both groups expect to allocate a greater part of their portfolios to property over the next two years by about 3 percentage points. They cited potential yield and capital...
The completion of the upcoming Marina Bay Sands integrated resort next year and the VIP private preview of the 221-unit Marina Bay Suites have put the spotlight back on The Sail @ Marina Bay. Sales activity at the 1,111 unit The Sail has picked up pace in recent weeks. Nine transactions were done in the first week of November alone — versus 10 deals achieved for all of October. Prices achieved in the...
Capitaland's wholly-owned serviced residence business unit, The Ascott Group, has opened its fifth serviced residence in Beijing. It is also the first time an Ascott serviced residence has partnered with Raffles City to offer an integrated lifestyle development comprising a retail mall, an office tower and a serviced residence. Located in Dongcheng District, the new serviced residence is near the Second...