Gold Ridge has put in the top bid of nearly S$801 million for a white site at Serangoon Central. The price works out to S$850 per square foot per plot ratio for the 99-year leasehold site. This is 10 percent more than the next highest bid of S$727 million from Serangoon Community Developments. All in, the site attracted 6 bids, with the lowest by Peak Star at S$215 million. Analysts expect a full...
Developer News
The Housing and Development Board is releasing two parcels of land for condominium housing under the Reserve List of the Government Land Sales programme.One of them, at Jurong West Street 42, is for executive condominium housing, while the other at Chestnut Avenue is for private apartments. Among the two sites, the one at Chestnut Avenue is expected to get more attention from developers. Analysts said this...
Increasing presence in emerging markets makes CapitaLand a good bet for investors. With Singapore’s property market cooling, analysts are looking at developers which have bought substantially into other promising places. To many, CapitaLand could be a good bet for investors. Analysts say the company’s diversified business portfolio and increasing presence in emerging markets, including Vietnam and...
Mainboard-listed Roxy-Pacific has nearly quadrupled its full-year net profit to S$19.3 million in its maiden results since going public. The specialty property and hospitality group is crediting this to the strong property market and robust tourism industry. Revenue more than doubled to about S$103 million. Looking ahead, Roxy-Pacific said it is optimistic about the Singapore property market and intends...
Billion Rise - a company believed to be linked to Hong Kong property giant Cheung Kong Holdings - has put in the top bid of S$110.4 million for a residential site at West Coast Crescent. This works out to S$305 per square foot per plot ratio for the 99-year leasehold parcel. Analysts expect a break-even price of between S$680 and S$720 per square foot for a new condominium on the site. The units are...
Mainboard-listed CentraLand is buying a 25,460-square metre site in China for 200 million renminbi (S$39 million). The site in Zhengzhou, the capital of the Henan province, will be redeveloped into a new mixed-commercial building, comprising retail and office space. There will be about 16,000 square metres of commercial retail space and approximately 94,000 square metres of office space. The parcel is...
Developer Boon Keng Development has put in the top bid of S$11.8 million for a landed housing site at Westwood Avenue. The price for the 150,700 sq ft site, which is being sold on a 99-year lease, works out to be S$78 per sq ft. Only two bids were received by the Housing and Development Board (HDB) for the plot. Sunway Concrete Products put in the lower offer of S$10.3 million. Property consultants CB...
New Ophir-Rochor land parcel marketed at premier property event in Cannes. A PRIME land parcel enveloping Parkview Square in Bugis may soon draw more top developers to Singapore, just as the Beach Road and Marina View parcels did last year. The 2.74 ha site, along Rochor and Ophir Roads, will comprise office and hotel space, said the Urban Redevelopment Authority (URA), which is pitching it to an...
Kuwait Finance House (KFH) has allowed options to acquire 97 units of the high-end Goodwood Residence to lapse. The deal would have been worth S$818 million for developer GuocoLand, which has said that Singapore's property market appears to be cautious. The developer had granted Kuwait Finance House the options back in December. In a filing to the Singapore Exchange, GuocoLand said the two parties are...
Property developer UOL Group has unveiled a new luxury serviced apartment, marking its entry into the extended stay business. Pan Pacific Serviced Suites, located in the Somerset area, will open for business in April. It offers 126 deluxe units, which come with personal assistants to tend to the needs of guests. Besides waking up to a view of downtown Singapore in an apartment kitted out with designer...