A land parcel at Choa Chu Kang has been launched for sale by tender for residential development. The Urban Redevelopment Authority (URA) said it is one of four new residential sites to be released as a confirmed site under the Government Land Sales Programme for the first half of 2008. At 1.9 hectares, the plot will have a maximum permissible gross floor area of 53,200 square metres. A condominium up to 36...
General
Ascendas Real Estate Investment Trust (A-REIT) said the value of its industrial properties gained 14 percent to about S$484 million as at 29 February 2008. The numbers are likely to boost its performance for the financial year ending in March. A-REIT said the gains were booked after independent annual valuations for 80 properties in its portfolio by consultants DTZ Debenham Tie Leung, CB Richard Ellis,...
Starting next month, single Singaporeans aged 35 and above who buy HDB resale flats to live together with their parents may apply for a higher CPF housing grant of S$20,000 if they meet the eligibility conditions. The Housing and Development Board said this higher-tier singles grant will also apply to eligible singles buying the Design, Build and Sell Scheme (DBSS) flats with their parents. Under the...
CapitaLand has signed a deal with its Vietnamese partner Thien Duc to build about 1,400 homes in the prime District 2 of Ho Chi Minh City. The contract for the 6.7 hectare site includes commercial and retail space. The development, which is within a popular residential area, will have an estimated total project value of S$690 million. CapitaLand will take a 60 percent stake in the proposed joint venture,...
Non-landed residential market most likely to gain from influx of foreign talent, say CHUA YANG LIANG and JACQUELINE WONG SINGAPORE'S non-landed residential market put in a strong performance last year, sub-prime notwithstanding, driven by the luxury and prime segments whose resale capital values saw stunning year-on-year growth of 51.7 per cent and 50.6 per cent respectively. Lights, camera, action: Key...
CapitaCommercial Trust (CCT) has been given a call option to buy the 1 George Street building for nearly S$1.2 billion. This translates to S$2,600 per square foot of net lettable area. CapitaLand will also provide yield protection to CCT, ensuring a minimum net property income of some S$50 million per annum. This means a net property yield of 4.25% per annum on the purchase price for five years until...
Land above station will feature an amphitheatre and a F&B pavilion THE vacant state land above Dhoby Ghaut MRT station will soon offer more than just a convenient access point for pedestrians making their way from the station to the surrounding malls. The Urban Redevelopment Authority (URA) has unveiled plans for the site to be home to a new open space that will play host to community events and...
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...
Top Australian institution – the Curtin University of Technology – will be setting up shop here, adding another boost to the tertiary scene in Singapore. Students can expect degree programmes in business and technology when the campus opens in early December. Artist's impression of the Singapore campus of Curtin University of Technology The former ITE Balestier campus at Jalan Rajah may not look...
The Urban Redevelopment Authority has released detailed sales conditions for two reserve list sites at Clemenceau Avenue/Havelock Road and Upper Changi Road North/Flora Drive. The site at Clemenceau Avenue is slated for hotel development. The parcel is close to the popular entertainment districts of Clarke Quay, Boat Quay and Robertson Walk. It has an area of about 5,500 square metres and a permissible...