General

The tender for Horizon Towers - the first major en bloc exercise to close after July's property cooling measures - ended on Wednesday without a single bid. While strong interest was not expected given the tough measures introduced on July 6, the absence of any bids from developers added to the disquiet in the en bloc market, especially big estates eyeing billion-dollar tabs. Horizon Towers' marketing...

HSBC Singapore has announced that it will be relocating its head office to Marina Bay Financial Centre (MBFC) Tower 2 from its current premises at HSBC Building, This is to accommodate the company’s rapid growth plans. HSBC Singapore will occupy about 140,000 sq ft over the top floors of the 50-storey building. Fit-out work is expected to start in the second half of 2019, with target occupation by...

Given the recent cooling measures affecting residential property purchases in Singapore, some investors could turn to alternative real estate investment classes such as industrial properties. This segment has opportunities, areas of growth, as well as challenges. Location is also a very important consideration. One area in Singapore that is attracting the attention of investors and industrialists is...

Only religious groups that actively contribute to the community can bid for land reserved for places of worship, the Ministry of National Development (MND) said on Thursday (Sep 13) in a press release outlining changes to the tender framework for place of worship land. MND will be tightening the prerequisites for such tenders, which used to be evaluated solely on price, it said in the press...

HDB flats were in the limelight again earlier this year, when the matter of lease decay became a hot-button issue. Many flat owners were concerned over the value of their own flats, as it was mentioned that they would eventually become zero at the end of 99 years and that not all flats will be eligible for the Selective En Bloc Redevelopment Scheme (Sers). In fact, only an estimated 5 per cent of HDB...

Funeral parlour operators here could benefit from taking over just 10ha of some 1,500ha of land currently occupied by 17 golf courses, some panellists suggested, during a discussion on the future of the business in land-scarce Singapore. The industry is facing a space crunch as it is often relegated to operating in industrial estates, and leases are typically for only three years. Funeral director...

The lacklustre rental market for both private and HDB properties dragged on for another month, going by data from real estate portal SRX on Wednesday. Rents for condominiums and private apartments in August dipped by 0.1 per cent from July, after being unchanged since May. This brings private rents back to year-ago levels, that is August 2017. Private property rents are also now down by 19.1 per cent...

Freehold development Gisborne Light in district 10 will be put up for collective sale in a public tender starting Sept 13, with an asking price of S$37 million, which translates to S$1,671 per square foot per plot ratio (psf ppr). "The land rate of Gisborne Light is attractive and fairly adjusts for the current market sentiment following the introduction of new cooling measures on July 6, 2018," said...

Singapore's small construction firms are likely to face more difficulties repaying debt as a clampdown on property speculation worsens their already tight liquidity. The island's economy grew at a slower pace in the second quarter than initially projected as construction plunged. Singapore increased stamp duties for developers in July, and also tightened borrowing limits for individuals taking up their...

Singapore Press Holdings (SPH) has acquired a portfolio of 14 purpose-built student accommodation buildings across six towns and cities in the United Kingdom for about £180.5 million (S$321 million) cash, it announced early on Monday morning. The buildings, acquired from the Unite Group, have a total capacity of 3,436 beds. They include 10 freehold assets and four leasehold assets, and are located in...