Developer Frasers Centrepoint said Tuesday 91 per cent of its 8@Woodleigh residential project has been sold following a weekend preview. The mass market development comprises 330 units, out of which 302 have been snapped up during the past four days. Frasers said it will now release the remaining units for sale and there will be no public launch. The 99-year leasehold property comprises a mix of two to...
Developer News
CapitaLand has announced a management shake-up that sees some of its younger senior officers taking over leadership roles from July 1. Lim Ming Yan, currently CEO of CapitaLand China Holdings (CCH), will be appointed CEO of The Ascott Group. Jason Leow, currently deputy CEO of CCH, will take over as CEO. Ee Chee Hong, currently deputy CEO of CapitaLand Commercial, will be promoted to CEO. He has also...
Evan Lim & Co’s property development arm has scored a few successes and now plans to acquire more residential development sites THE PROPERTY MARKET stirred when Illuminaire on Devonshire, the first launch in a prime district (District 9) for the year, saw all its units snapped up within three days of previews. Also noteworthy was the average price per sq ft (psf) achieved at $1,700 psf, which was...
Fragrance Assets, a unit of mainboard-listed Fragrance Group, has put in the top bid of S$15.5 million for a hotel site at Short Street. The Urban Redevelopment Authority said it received a total of 15 bids, ranging from S$8 to S$15.5 million. Other companies that had tendered for the site include Regal Land, Centurion Properties and Sim Lian Land. Property consultancy CBRE said the strong response...
Developer CapitaLand's unit Australand said it has teamed up with St Hilliers to undertake a A$300 million public housing redevelopment project in Victoria, Australia. The project spans 7.5 hectares across three sites in Carlton, Victoria. It will involve replacing 192 old, outdated flats with over 240 new public and social housing apartments and 500 new inner city, residential homes. Construction of...
The iconic South Beach development project along Beach Road is back on track, after a City Developments-led consortium secured S$1.2 billion in new funds. The South Beach Consortium will get money in the form of an S$800 million bank loan, and S$400 million in secured convertible notes. The South Beach project came about after a hot contest for a land parcel at Beach Road. The South Beach consortium,...
Singapore-listed property developer CapitaLand has secured a S$5 billion credit line with two Chinese banks – Bank of China (BOC) and Industrial and Commercial Bank of China (ICBC). It said the money will fund its future growth plans in China, including those in the residential, retail and financial services sectors. Liew Mun Leong, president and CEO of CapitaLand Group, said: "China is a core market...
High-end private homes have seen renewed interest among buyers recently and the trend looks set to continue. Developer Frasers Centrepoint said 15 out of 40 units launched on Friday at its Martin Place Residences have been sold. Frasers said it has lowered prices by about 20 per cent to between S$1,350 and S$1,600 per square foot. It said the homes sold were a mix of studios, two- to four-room units and...
City Developments (CDL) and CapitaLand have fully sold their joint venture Botannia condominium project, located near West Coast Park. The majority of the 493-unit development with a 956-year leasehold was bought by Singaporeans. Foreigners purchased about a quarter of the units. In a statement, CDL said the strong sales is a clear indication that homeowners and investors have become more upbeat,...
CapitaLand's wholly-owned service residence business unit, Ascott, has opened its newest property in northern China. The property - called Somerset YouYi, Tianjin - is located in the heart of the downtown Hexi commercial district. The serviced apartment in Tianjin is the fifth property that Ascott has opened this year. Another eight will follow for the rest of this year, including three in...