CapitaLand has sold its entire 50 percent stake in Chevron House for over S$366 million. When the deal is done, the property developer will book a gain of S$151 million on the investment. Chevron House is an office building in the banking and financial district of Raffles Place. It was formerly known as Caltex House. CapitaLand has been taking advantage of the buoyant office property market to divest...
General
Home owners could scramble to secure the required number of signatures to seal their en bloc deals in the weeks ahead, according to industry watchers. This is due to the impending changes to the collective sales legislation aimed at adding more transparency to the process. Owners at Pacific Mansions are still working out a deal with some four to five potential buyers. Pacific Mansions has 288 apartment...
THE law on en bloc sales looks set to be beefed up, on the back of lessons learnt from the many tussles of the past year. When the Bill to amend the Land Titles (Strata) Act was introduced yesterday in Parliament, it contained far more rules than the Ministry of Law (MinLaw) had proposed five months ago. This, on the back of over 400 suggestions it received during public consultation in April and May....
DIVORCED couples will soon find it easier to divide their matrimonial assets in a “smooth and equitable” manner, thanks to changes to the Central Provident Fund (CPF) scheme. From Oct 1, an ex-spouse no longer has to wait for her husband to turn 55 and be eligible to withdraw his CPF. These rules, passed under the CPF (Amendment) Bill in Parliament yesterday, now allow the immediate transfer of CPF...
CapitaLand has acquired the remaining 50 percent stake in Eureka Office Fund for S$590.6 million. The fund owns the commercial building known as 1 George Street and 163 strata-titled units in The Adelphi. It also owns a 20 percent interest in Temasek Tower. CapitaLand says the transaction is not expected to have any material impact on its net tangible assets or earnings per share for this financial...
Market watchers and analysts are still studying the impact of proposed changes to rules governing en bloc sales unveiled in Parliament on Monday. Some say the revision will benefit property developers as it means greater clarity and certainty to their initial investment. Owners of Neptune Court at Marine Parade are exploring an en bloc sale. And insiders tell Channel NewsAsia, that so far, only about 40...
The Daniel Libeskind showcase Daniel Libeskind’s first residential showcase in Asia has its platform in Singapore in Keppel Bay. His iconic design for Reflections at Keppel Bay will put Singapore on the world map for luxury waterfront homes. Reflections at Keppel Bay comprises a total of 1,129 luxurious waterfront condominium units housed in six glass towers of 24 storeys and 41 storeys as well as 11...
Grange Residences occupies a prime location in the residential heart of Singapore, at the junction of Tanglin Road and Grange Road – two of the most desirable residential address in the city. There is also the added benefit of being just a short walk from the magnificent Botanic Gardens and the myriad attractions of Orchard Road. Grange Residences remains a special and remarkably private address,...
The short supply of available office space in the central business district is driving financial institutions to be more flexible when planning their real estate needs. “Currently, banking and finance tenants occupy 36 per cent of all Grade A stock in Singapore, or close to 500,000 sq m,” said Justin Kean, associate director of Asia Pacific occupier research at consultancy Jones Lang LaSalle...
If it seemed to you that seeing the doctor or eating out is becoming more expensive of late, you were spot on. Inflation rose at the fastest pace in 12 years last month — as the Goods and Services Tax (GST) hike kicked in, food costs rose and rents soared. The Consumer Price Index (CPI) rose 2.6 per cent from a year earlier after rising 1.3 per cent in June, the Department of Statistics said yesterday....