General

Hong Kong's office rents are almost three times more expensive than those in Singapore as property markets in two of Asia's largest commercial centers have diverged sharply in recent years. The spread has boosted Singapore's appeal as a competitive business hub and made it a more attractive location for companies to house their regional headquarters, according to Cushman & Wakefield Inc. Scarce...

The land parcels at Jiak Kim Street, Toh Tuck Road and Owen Road are the most outstanding sites available in the first half of government land sales (GLS) this year, according to property consulting firm Edmund Tie & Co. Close contenders include the Woodleigh Lane site and the Fourth Avenue site, the firm said in a report released on Thursday. Edmund Tie & Co's GLS report ranks land parcels based on...

SINGAPORE's property market remains high on the agenda of Asia's ultra-rich, notwithstanding the cooling measures still in place. Its commercial properties are a top consideration for Asian ultra high net worth individuals (UHNWIs) keen on this asset class, moderately ahead of the UK and the US. Singapore's residential market is the second most likely place for Asian UHNWIs to own an overseas home,...

AMID strong developer appetite for condo development sites which has buoyed land prices, the government has upped the average DC (development charge) rate for non-landed residential use by 4 per cent for the March 1-Aug 31, 2017 period. This is the second consecutive hike in the average DC rate for such use, following the 2.7 per cent rise during the previous revision six months earlier. DC is...

Northstar Group said it is in the early stage of exploring an initial public offering of Singapore's biggest real estate agency ERA Realty Network, which has turned out to be one of its top-performing investments thus far. But the Singapore-headquartered private equity firm remains mum about when ERA will return to the local bourse since the delisting of its former listed parent Hersing Corporation four...

CUSHMAN & Wakefield, together with the Collective Sale Committee, has secured approval for the redevelopment of Singapore's first air-conditioned mall Katong Shopping Centre for commercial and serviced residence use. The reserve price remains the same at S$630 million which translates to a land price of $S2,248 per square foot of gross floor area, said Cushman & Wakefield, the exclusive marketing agent...

The Clementi Canopy, a new condominium project in Clementi Avenue 1, has sold 195 units (38.6 per cent) of the 505-unit development during its first weekend launch. Some 250 units were released over the recent weekend, according to property developer UOL Group. Anthony Wong, general manager for marketing at UOL, said: "Out of the 250 units released on the first weekend launch of The Clement Canopy,...

THE two largest property realtors in Singapore have yet to receive any cancelled prior sale submissions for resale flats following the announcement of bigger housing grants for first-time HDB buyers in the Budget reading on Monday. Finance Minister Heng Swee Keat had announced in Parliament that young couples buying a resale HDB flat for the first time will be enjoying higher subsidies of up to...

Property and hotels group City Developments Ltd (CDL) is planning a major refurbishment of its flagship Singapore office property in Raffles Place, turning an imminent outflow of some tenants into an opportunity to spruce up the ageing building. CDL deputy CEO Sherman Kwek, speaking to reporters after the group posted weaker fourth quarter and full year earnings, said works at Republic Plaza are likely...

ARMED with a war chest of more than S$3 billion and an improved balance sheet, City Developments (CDL) is poised to make acquisitions in Singapore and overseas, prompting some analysts to raise the target price for the property group. CDL is their preferred pick among property counters here for its asset monetisation ability, nimble capital management and acquisition potential. "We expect City...