THE Ministry of Trade and Industry (MTI) has launched its Industrial Government Land Sales (IGLS) Programme for the first half of 2017. There will be 6 sites in the confirmed list and 5 sites in the reserve list, with a total site area of 11.25 hectare (ha). The confirmed list of industrial sites will total 3.27 ha. These include plots in Tuas South Link 3, Tampines North Drive 3, Jalan Lam Huat and...
General
AS YET another sign of tough times facing businesses, new office leases this year - by companies that previously did not have a presence here or were not in the building where the new lease is inked - made up only 10 per cent of all office leases inked this year, down from 20 per cent in 2015. Relocation leases accounted for a significant 63 per cent of the leases, while the balance 27 per cent are...
The "flight-to-new projects" - a term used by the office leasing sector to describe the trend of tenants swarming into swanky new office projects - is set to continue next year as companies capitalise on softening rents to upgrade their working spaces. This merry-go-round, however, is causing pain to landlords of older buildings in the Central Business District (CBD). Based on analysts' projections,...
Property management company Franks Property and its sole director were on Wednesday (Dec 21) fined a total of S$215,000 for conducting unlicensed estate agency work, the largest fine meted out by a court for such an offence, the Council for Estate Agencies (CEA) said in a media release. The company had carried out three property transactions without first being licensed as an estate agent. Its sole...
“There's nothing much to say,” 80-year-old Mdm Lee said, when asked about the looming demolition of Rochor Centre - her home for the past 40 years. “I'm very sad.” Authorities have yet to announce the exact date the wrecking crew turns up, but have previously said the iconic, rainbow-coloured estate would be torn down at end-2016. Mdm Lee remembers the day the Government said it would acquire...
CACHE Logistics Trust on Monday said that it has signed a deal with Agility International Logistics for the proposed divestment of Cache Changi Districentre 3 for S$25.5 million. This price is in line with the independent valuation by CBRE on Nov 30, 2016. Cache Changi Districentre 3 is located in the Changi International LogisPark (North) and has a remaining land lease of about 17 years. The...
The government has marginally raised residential supply under the confirmed list of its Government Land Sales (GLS) programme in what is seen as a delicate balancing act of meeting improved buying demand, while managing the downside risks if the economy worsens. The lack of commercial sites on the confirmed list - a list where sites are put up for tender according to schedule - is also providing the...
Some 17,000 Build-To-Order (BTO) flats will be launched next year, about 1,000 fewer than the number put up for sale this year, as the Government tapers the supply of public housing units. Announcing the supply for next year, National Development Minister Lawrence Wong also said that young couples can look forward to shorter wait times for BTO units, possibly by 2018. "Over the past year, I’ve...
Private property developers saw lacklustre sales in November, with the number of new units sold falling 31.4 per cent from the previous month, figures released by the Urban Redevelopment Authority (URA) on Thursday (Dec 15) showed. Excluding executive condominiums (ECs), 860 new private homes were sold last month, down from the 1,253 units sold in October. Including ECs, 1,110 units were sold, down from...
Ministry of National Development unveiled on Friday five confirmed list sites and ten reserve list sites under the first half 2017 (1H2017) Government Land Sales (GLS) Programme. These sites can yield up to 7,465 private residential units and 158,080 square metres (sqm) gross floor area (GFA) of commercial space. The confirmed list comprises five private residential sites which can yield 2,330...