Mainboard-listed Fragrance Group said one of its units has bought a property at Telok Kurau for S$36.5 million. The freehold land parcel has a total site area of nearly 48,000 square feet. It can yield a maximum permissible gross floor area of some 93,000 square feet. Fragrance said it plans to turn the site into a five-storey mixed development, comprising commercial shops and residential apartments. It...
Developer News
Mainboard-listed Keppel Land said its second quarter net earnings rose 10.4 per cent to S$58.2 million from a year ago, as sales of residential property rose on improved sentiments. Revenue for the three months ended June climbed 34.4 per cent to S$250 million from a year earlier. The developer said sales of its Marina Bay Residences, The Sixth Avenue Residences, Reflections at Keppel Bay and The Tresor...
Mainboard-listed Australand says it expects the value of its investment property portfolio to drop by 235 million Aussie dollars for the six-month period ended June. This is about 10 per cent lower compared to what the portfolio was worth at the end of last year. The company, which is also listed in Australia, says it has also undertaken a review of its residential, commercial and industrial development...
The chief executive of property group Roxy-Pacific, Mr Teo Hong Lim, seems unmoved by the ongoing bull run in the property market. He is not in a hurry to join in the fray with new project launches. "It seems very strong and has caught many industry players off guard, I don't know when this window of opportunity will close," he told Today. So although the developer's strategy is to buy a plot of land and...
Property developer Far East Organization has launched a scheme to encourage start-ups at its shopping malls. Instead of paying rent, these tenants can issue preference shares to the developer for up to three years. Tenants at six Far East Organization malls – including the new Orchard Central – can now pay rent in shares, instead of cash. The other participating malls are Central, Far East Square,...
Hong Leong Holdings has said it will hold a preview of its latest development, The Gale, on Friday. It will also start taking bookings for up to 80 units during the preview. The freehold condominium in Changi has 329 units in all. At the preview, the available units will be priced from S$600 to S$700 per square foot. Buyers will also have the option to take up the Interest Absorption Scheme, under which...
IT'S launches galore in the property market, as developers take advantage of improved sentiment to release their residential projects. Yesterday alone, three developers announced plans for the sale of two residential and one serviced apartment developments. Silversea, a 383-unit condominium in the East Coast area, will be launched this weekend by Far East Organization, with prices starting from $1,300...
SPURRED by the success of recent property launches at the upper end of the middle-class market, GuocoLand Ltd, the Singapore-listed arm of Malaysian tycoon Quek Leng Chan, will soon start marketing its Sophia Residence project on - where else? - Sophia Road. Sophia Residence The 272-unit project comprises several blocks of between eight and 14 storeys nestled in landscaped surroundings on a 166,000 sq ft...
CEL Development is launching the remaining units of its Oasis @ Elias condominium at Pasir Ris on Saturday. Half of the 142 units previewed have been sold, at an average price of S$670 per square foot. The units that have been sold included six of nine penthouses in the property. Marketing agent CB Richard Ellis said HDB upgraders made up 80 per cent of the buyers. The strong take-up rate reflects the...
Singapore Exchange's Mainboard-listed Frasers Commercial Trust has asked for a trading halt of its units pending an announcement. No further details were given. Back in April, Frasers Commercial Trust had said it was exploring ways to refinance its existing debt, which may include a rights issue. Frasers Centrepoint, which sponsored the trust, is a unit of the Fraser & Neave (F&N) group. F&N...