Main board listed developer Sim Lian Group will launch its latest development, Parc Lumiere, by walk-in-selection on April 18. Parc Lumiere is a public housing project under the Housing & Development Board's "Design, Build and Sell Scheme" (DBSS). The development which is located near the Simei MRT station will comprise 360 four and five room units. Sim Lian said the average selling price for the...
Developer News
The Singapore government will not step in to underwrite existing bank loans to property developers for now. This is because loans and other financing options are still available despite the current credit crunch, said National Development Minister Mah Bow Tan in Parliament on Monday. The economy is facing a difficult recession, but Singapore property developers may have been spared the brunt of the...
Keppel Corp plans to build an international school in Tianjin, China. It is teaming up with education groups EtonHouse International and Chiway Holding to develop the first international school in the Sino-Singapore Tianjin Eco-City. The three partners will also jointly develop residential apartments on an adjoining site 10-hectare site. Together they plan to invest as much as 1 billion yuan (S$220...
Property developer CapitaLand has been recognised as a corporate sustainability leader by two international sustainability benchmarks. It has been included as a component of the newly-launched Dow Jones Sustainability Asia Pacific Index. The index ranks the top 20 per cent of the largest 600 companies in Asia Pacific based on long-term economic, environmental and social criteria. CapitaLand is the only...
Property developer Far East Organization has said its S$700 million Orchard Central mall is on track to open in June. The 12-storey mall has just obtained the temporary occupation permit. It expects to raise tenancy take-up rate to 75 per cent in the coming months, from the current 65 per cent. Far East Organization said Orchard Central will stand out from other malls when it opens in about two...
CapitaLand's CEO Liew Mun Leong has raised his stake in its unit, CapitaMall Trust, following the REIT's recent rights issue. Mr Liew almost doubled his interest in CapitaMall, increasing the number of shares held from 333,410 to 633,479. That means he now holds about 0.02 per cent of CapitaMall, up from the previous stake of 0.0105 per cent. Mr Liew is the deputy chairman and a non-executive director...
The Real Estate Developers' Association of Singapore (REDAS) is celebrating its 50th anniversary this year with a series of activities. One of the activities was a dragon boat championship cup-cum-charity held at Bedok Reservoir on Saturday morning. Gracing the event was Foreign Minister George Yeo, who cheered on the 16 teams - comprising government agencies like the Housing & Development Board and...
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...
Singapore's main shopping district has officially welcomed its first boutique hotel, Quincy, which marks Far East Organisation's maiden foray into this market segment. The 108-room Quincy hotel at Mount Elizabeth Road has been open for just over a month, but it has already managed 76 per cent occupancy in February, despite falling tourist arrivals. Raphael Saw, director of Hospitality Operations, Far...
Far East Organisation has launched its first-ever major rebranding exercise for its hospitality division. The property developer plans to rebrand its stable of 17 hotels and serviced residences in Singapore under new names. This was announced on Wednesday as Far East opened its first boutique hotel at Mount Elizabeth Road. Under the first phase of the rebranding, Far East will introduce a new "Village"...