CapitaCommercial Trust is preparing to spend up to S$1.5 billion to convert the Market Street Car Park into an office tower. Whether the project will go ahead or not depends on feasibility studies, but a major regulatory hurdle has been cleared. The URA has lifted restrictions for the site, which originally requires the land to be used mainly for car parks. CapitaCommercial, which owns the car park...
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Mainboard-listed construction firm Chip Eng Seng is expanding its footprint in Vietnam with two residential projects in Ho Chi Minh City.The projects are expected to cost a total of S$180 million and will be undertaken with local partners. One is a condominium development comprising three 18-storey blocks, yielding a total of 780 units. This will be built on a 23,000 square metre site. Chip Eng Seng will...
A redevelopment site along Changi Road spanning 26,500 square feet is up for sale by tender.The site can be redeveloped into a hotel or commercial development with a plot ratio of 3, giving a maximum gross floor area of about 80,000 square feet. Civil engineering and property development firm Koh Brothers, which is selling the site, is asking for S$55 million. This excludes a development charge of S$12.5...
The famous Tekka Centre in Little India will be undergoing a major facelift, come March this year. The work is expected to take about 16 months. During the renovation, nearly half of the more than 500 tenants will be moving to temporary premises in Race Course Road. Rental for the entire period will cost between S$4,500 and S$12,000, depending on location and shop size. Tan Siat Hiang, a stall owner,...
Singapore’s economy grew at a slower-than-expected 6.0 per cent in the fourth quarter, pulled down by falling manufacturing output, the government said on Wednesday. Economists had expected growth of 7.0-8.5 per cent for the last three months of the year. The estimate for real gross domestic product (GDP) growth, compared with the same period a year earlier, meant a moderation from the revised growth...
The government will continue to monitor the residential property market in a bid to ensure that prices remain stable, according to National Development Minister Mah Bow Tan (Picture). He was responding to questions from reporters on Wednesday for his outlook for the property sector in 2008. He noted that the government had taken measures last year to cool the sector, but also said that there are external...
Private residential property prices rose by a slower pace in the fourth quarter - up 6.6 per cent compared with the previous three months. Meanwhile resale prices for public housing or Housing and Development Board flats grew by 5.6 per cent in the fourth quarter. That’s also at a slower pace, down from 6.6 per cent in the previous quarter. Analysts believed this was due to the uncertainty over the...
A LIFESTYLE LIVING LIKE NO OTHER, AT THE CENTRE OF SINGAPORE'S FINEST Rising above others with panoramic views of the City and embraced in the enclave of Singapore's most famous shopping belt - Orchard Road, it is a lifestyle defined only by the extraordinary. At the heart of the prestigious Orchard and Tanglin locale amidst Embassies, high-end residences and six-star luxury hotels, this 9720 sq ft sky...
New Projects / Launches Martin Place Residences (District 9) For Sale - Under Construction - Preview Now Cliveden at Grange (District 10) For Sale - Under Construction - Preview Now The Wharf Residences (District 9) For Sale - Under Construction - Preview Now Helios Residences (District 9) For Sale - Under Construction - Preview Now The Marq on Paterson Hill (District...
The CPF housing withdrawal limit for buying houses will be reduced by six percentage points from 1 Jan 2008. It will be cut to 120% of the valuation limit, down from 126%. The CPF housing withdrawal limit is being reduced to ensure that Singaporeans have enough savings when they retire and also for health care. It was introduced in 2002 - at 150% of the valuation limit. Analysts said the reduction is...