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...
General
Singapore will double the size of its financial district over the next 15 years, after demand for offices surged last year with the city-state seeking to become a centre for business in Asia. The city will add 2.82 million sq m of office space, the equivalent of Hong Kong’s Central district, the government’s Urban Redevelopment Authority (URA) said in an e-mailed statement yesterday. Occupancy of...
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...
Singapore's economy will grow 5.7 percent in the first quarter from a year ago, picking up slightly from a 5.4 percent expansion in the fourth quarter, a central bank survey showed on Monday. However, growth in the full year will slow from last year’s pace of 7.7 percent to 5.6 percent, the Monetary Authority of Singapore's (MAS) quarterly survey of 19 economists showed. In a statement, MAS added that...
The construction industry is expected to lead Singapore's economic growth this year, according to 19 economists polled in the latest quarterly survey by the Monetary Authority of Singapore (MAS). They projected an expansion of 15.9 per cent for the construction sector this year, up 2.4 percentage points from the forecast in the previous MAS survey in December. Analysts Channel NewsAsia spoke to, shared...
The Urban Redevelopment Authority has announced its plans for the Ophir-Rochor corridor. The project is expected to be developed over the next ten to 15 years as part of plans to rejuvenate the Central Business District. It will feature a mix of offices, hotels and other complementary facilities in a park-like environment. The first land parcel in the new Ophir-Rochor corridor will be launched for sale...
Motorists driving into Sentosa from Tuesday will be travelling on a brand new road. It will replace the current Gateway Avenue which will be closed to make way for the development of Universal Studios Singapore, a part of the Resorts World at Sentosa. Sentosa Leisure Group said the 730-metre, four-lane road (marked out in red) will help improve traffic on the island. The Resorts World at Sentosa is bearing...
Poh Lian Construction, a unit of United Fiber System, has won the building contract to redevelop a site formerly known as Green Meadows condominium along Upper Thomas Road. The contract, awarded by UOL Development, is worth about S$202 million. The award of the project has boosted Poh Lian’s order book to a new record of S$550 million, up 58 percent since January 31. Poh Lian said the latest contract...
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...
There will be a new financial incentive to encourage singles to live with their parents. Minister-in-Charge of Ageing Issues Lim Boon Heng disclosed this in Parliament on Wednesday when he responded to concerns raised by MPs over the needs of lonely elderly. Over the last few years, the Housing and Development Board (HDB) has built studio flats for the elderly who still want to stay within the...