Private residential properties in Singapore saw a sharp fall in rentals and a slight price decline in the first quarter of 2009. Real estate consultancy firm DTZ in its report on Tuesday said monthly rentals of luxurious homes slid 18.8 per cent to S$5.20 per square foot, a level not seen since the third quarter of 2006. Rent of units in prime districts also saw a drop, down 16.2 per cent to S$3.65 per...
2009
Frasers Hospitality, a unit of food and property conglomerate Fraser and Neave (FRNM.SI), has been in talks with private equity firms to form a real-estate fund but is not in hurry to start the business, a senior executive told Thomson Reuters in an interview today. “I think there will be many good deals, but we’re not in a hurry to jump in at the moment,” Choe Peng Sum, chief executive officer of...
Timeless Sophistication, Privileged Living. An Urban Masterpiece. An exciting architectural icon is set to illuminate the prime district 9 skyline. Inspired by the dawn of new age city living in exclusive boutique size units. Illuminaire is the essence of a metropolitan lifestyle, a Shangri-la for those conversant in the ways of the world. Designed with the aspiration to inspire Illuminaire's sensuous...
International and local companies have shown 'substantial' interest in the new Changi race track, the Singapore Sports Council (SSC) said yesterday when unveiling the Request For Proposal (RFP) to build and manage the project. The plan is for a permanent circuit on 41 hectares of land at the eastern tip of Singapore. Also on the site - next to Changi Exhibition Centre - will be an entertainment complex,...
Developer Far East Organisation said its new private residential project Mi Casa at Choa Chu Kang has seen brisk sales during a preview over the weekend. Far East said 97 of the 123 units released were snapped up even before the development was officially launched. Mi Casa – Spanish for "My Home" – comprises a total of 457 units at an average price of S$625 per square foot. Far East Organisation...
The Park Hotel Group hospitality chain is revamping its hotel property along Singapore's prime shopping district. It announced on Monday that the Park Hotel Orchard will be rebranded as the Grand Park Orchard after major renovation work. The hotel will be closed from April 1 this year till the second quarter of 2010. Park Hotel Group said the new five-star property will become the flagship of its...
An ultra-luxurious hotel has opened its doors in Singapore amidst dwindling tourist numbers here and in the region. Capella Singapore, located on Sentosa island, welcomed its first guests on Monday. The S$400-million hotel is set within more than 12 hectares of sprawling land and lush greenery. It boasts 111 rooms, including 32 private villas – the first of its kind on Sentosa which come with their own...
By end-2011, Singaporeans will enjoy motor racing in the country's first permanent track. The Singapore Sports Council (SSC) has called for tenders or a Request For Proposal for the Changi Motorsports Hub. The 3.5-kilometre-long track will sit on a 41-hectare site, which is about the size of 58 football fields. It will face the sea, near Singapore's Changi Airport on the eastern end of the island. The...
Housing budgets at the top end have been slashed, but limited supply make these black-and-white bungalows built during the British colonial periods in the early 1900s coveted lifestyle homes for expatriate families JUST LAST MONDAY, Brandon and Gabrielle Batagol, together with their three young children, Zac, nine, Mathilde, seven, and Brigitte, four, moved into their brand-new black-and-white bungalow on...
The credit crunch and a soft property market are putting the squeeze on Singapore property trusts, according to analysts. They expect more cash-strapped REITs to seek funding through rights issues in the coming months. Analysts added that some three to four smaller players may end up being absorbed by their bigger counterparts. There are currently 21 REITs listed on the Singapore Exchange (SGX). Banks...