Singapore construction firm Lian Beng Group has won two contracts worth a total of S$90.2 million. The first is a S$73.5 million contract to build a 21-storey freehold condominium Amber Residences along East Coast Road. The building contractor also sealed a deal worth S$16.7 million to build a 7-storey industrial building at Paya Lebar i-Park. Work on the projects will begin in May and expected to be...
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Office park developer Ascendas is taking full control of the manager of Ascendas Real Estate Investment Trust (A-REIT). Under a deal announced on Wednesday, Ascendas is buying over the 40 percent stake in Ascendas-MGM Funds Management Limited that is now held by Goodman Group. Upon completion of the sale, Ascendas-MGM Funds Management Limited will become a wholly-owned subsidiary of Ascendas, and will be...
Mainboard-listed logistics company, CWT, has opened two new logistics hubs in Singapore, expanding its warehouse space by one million sq ft. The new facilities cost CWT more than S$80 million, but they are expected to help drive revenue up by some 10 percent. Most of the new space will be used to store chemicals, which will help boost CWT's position in the sector. Loi Pok Yen, Group CEO of CWT, said: "We...
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...
BTO project Punggol Spring four times oversubscribed THE demand for public housing continues to be brisk. Case in point: The Housing Development Board’s (HDB) first build-to-order project this year at Punggol Spring is already four times oversubscribed. New flats aside, property agents have also described the HDB resale market as the kingpin for the real estate sector this year. The application for...
Singapore has received the thumbs-up from expatriate businessmen in the region as the cleanest Asian economy. In a latest survey by the Political and Economic Risk Consultancy (PERC), both Singapore and Hong Kong retained their top spots of first and second, respectively. Over 1,400 expatriates were asked to rank 13 Asian economies between January and February this year. The 13 economies were China,...
The demand for public housing continues to be brisk. HDB's first build-to-order project this year at Punggol Spring is already four times oversubscribed. New flats aside, property agents have also described the HDB resale market as the kingpin for the real estate sector in 2008. The application for Punggol Spring, where 494 units of four-room flats will be built, will not close until 17 March, but the...
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...
People's attitudes towards loans are changing, according to a survey conducted by consumer finance firm, GE Money, last month. With the Singapore economy expected to moderate this year, two thirds of 365 consumers polled said they were more cautious about taking up loans. A total of 95 percent of respondents said flexibility was very important when applying for a loan. Almost half said they wanted...
The Ophir Rochor area is undergoing a revamp. And a landmark development has been planned for this new office district. The Ophir Rochor district has been slated to be a new growth extension from the Marina Bay area. An artist's impression of Ophir Rochor district. The first plot next to Parkview Square will be released for sale in June as part of the government land sales programme. Analysts expect...