A Singapore property agency that marketed a US hotel project to an investor has been fined S$7,500, for failing to inform him in writing of the risks involved in buying foreign properties. The US developer was later charged with alleged fraudulent activities. According to the Council for Estate Agencies (CEA) in a news release on Thursday (Jan 19), Square Yards Singapore and US developer North Dakota...
General
When Ms Hidayah Amin walks around her old neighbourhood of Kampong Glam, she does not hide her disappointment. To her, it “has no spirit anymore”. “Last time, this used to be a residential area. Today, it is just very sanitised and commercialised … the whole place is just for tourists,” she told the programme Talking Point. The former resident feels that despite conservation efforts since...
See, smell, hear, touch and taste what nature has to offer - this is what Singapore's first childcare centre in a park will offer when it opens its doors at the end of this year to 400 children aged between two months and six years. The two-storey facility at Sengkang Riverside Park will be run by anchor operator Skool4kidz, and is one of four mega childcare centres that will be built by the middle of...
SUNTEC Real Estate Investment Trust posted on Wednesday a distribution per unit (DPU) of 2.596 Singapore cents for the fourth quarter ended December 31, 2016, 5.6 per cent lower than the DPU of 2.750 cents seen a year ago. Distributable income stood at S$66.1 million, 4.9 per cent lowerthan a year ago. Net property income generated was S$60.7 million, 2.9 per cent lower on year due to the divestment of...
THE misuse of industrial space has become rampant, and with tenants having settled into units in new strata projects offering office-like designs and proximity to transport nodes, the trend has become even more conspicuous. Businesses ranging from law firms and real-estate agencies to accounting and tax advisory firms, recruitment agencies, training providers, commercial schools and boutique investment...
Sales of private homes last month fell 57.3 per cent from the previous month in the traditionally quiet year-end period, even as 2016 saw a continued uptick in sales, according to data released by the Urban Redevelopment Authority (URA) on Monday (Jan 16). Excluding executive condominiums (ECs), developers sold 367 new units in December, down from the 860 units sold in November. Year-on-year, the number...
When completed, Mandai’s eco-tourism hub is expected to attract more than 10 million visitors each year, as well as generate a significant number of jobs in conservation research, tourism and hospitality, said developer Mandai Park Holdings as it launched the construction phase of the project on Monday (Jan 16). The Mandai rejuvenation project will see the relocation of Jurong Bird Park and the...
Residents in Punggol have a new community space that offers vantage views of Punggol Waterway. Located near transport and shopping facilities, the new town square will be used for a variety of activities such as exercise, food and music events. Speaking at the opening on Sunday (Jan 15) morning, Deputy Prime Minister Teo Chee Hean said Punggol has seen a huge transformation, with over 30,000 housing...
Qualifying certificate (QC) rules have generally been effective in curtailing property speculation, but pressured developers, using innovative ways to escape the harsh penalties, raise the question of whether the policy's efficacy outweighs some of its unintended consequences. QC rules were enacted to prevent foreign developers from hoarding or speculating on residential land in Singapore. After the...
SINGAPORE has fallen to seventh place in a regional ranking for high-end rental accommodation this year. It was the fourth most expensive location in Asia last year. According to the latest Accommodation Survey published by mobility solutions provider ECA International, rents for an unfurnished three-bedroom apartment across popular expatriate neighbourhoods in Singapore average US$4,535 per...