Ho Bee Land announced on Sunday that it has acquired a freehold 21-storey Grade A office building in London, by purchasing its owner Frasia Properties Sàrl for £650 million (approximately S$1.16 billion). Registered in Luxembourg, Frasia Properties Sàrl owns the property known as Ropemaker Place, a 21-storey Grade A office building comprising approximately 602,000 square feet of commercial...
Singtel is selling its Hill Street property to homegrown-property group EL Development. Planning approval has been granted for redevelopment of the site into a hotel. The price is between S$115 million and S$120 million, which works out to about S$1,830 per square foot per plot ratio, according to Business Times. The unit land price is inclusive of a differential premium to change the use of the...
ARMED with a war chest of more than S$3 billion and an improved balance sheet, City Developments (CDL) is poised to make acquisitions in Singapore and overseas, prompting some analysts to raise the target price for the property group. CDL is their preferred pick among property counters here for its asset monetisation ability, nimble capital management and acquisition potential. "We expect City...
ingapore's residential property curbs are set to stay in place for at least another year amid signs the city's housing market is stabilising, the chief executive officer of South-east Asia's biggest developer said. "We see volume picking up and the price declines have slowed," Lim Ming Yan, the president and CEO of CapitaLand Ltd, said in a Bloomberg Television interview on Wednesday. "We see this trend...
THE Real Estate Developers' Association of Singapore (Redas) is urging the government to review property tax for vacant private land, and exempt property tax for land under or slated for development or buildings undergoing renovations. Among other key suggestions, it is asking the government to offer more transparency in valuation when it comes to computing development charges to top up lease tenures as...
HATTEN Land Limited said on Friday that it has entered into a non-binding memorandum of understanding (MOU) with the founding Tan brothers to acquire four land parcels and a company that owns development rights in Malaysia. Those targeted four plots of leasehold land in Melaka range from 2.05 acres to 66 acres (0.83 hectare to 26.7 hectares), of which two have obtained development order approval. The...
THE Real Estate Developers' Association of Singapore (Redas) is urging the government to review property tax, improve transparency in the property valuation process, and reduce business costs and regulatory fees. It is also asking for special training grants to enhance maintenance skills and technical expertise among building maintenance engineers and technicians. The association's president,...
PROPERTY group Ho Bee Land has entered into a deal to sell Rose Court, an office block in Southwark, London to an unrelated Guernsey property unit trust for £94.5 million (S$167.5 million). The buyer has paid a deposit of 10 per cent of the sale price and the balance will be payable upon completion on Feb 21, 2017. The transaction is a cash purchase, Ho Bee said in a news release issued after the close...
AUGUSTINE Tan was on Thursday named president of the Real Estate Developers' Association of Singapore (Redas) management committee for the term 2017/2018. Mr Tan, 58, executive director, property sales & corporate affairs of Far East Organization, was re-elected to the position at the Redas' 57th annual general meeting. Mr Tan is flanked by Redas management committee vice-presidents, UOL Group's...
Public spaces on private property will soon have to meet new design guidelines such as providing ample shade and public seating, according to a circular to building owners and developers by the Urban Redevelopment Authority (URA) on Tuesday (Jan 24). These spaces include covered public spaces such as the area outside Asia Square, outdoor public spaces such as the atrium outside Ion Orchard, and urban...
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