The total value of big-ticket retail properties that have changed hands so far this quarter has surged to S$731.3 million, up 22.4 per cent from S$597.4 million in the preceding quarter and more than double the S$320.3 million in Q4 last year. This tally as at Dec 8, compiled by Savills Singapore, was based on deals of at least S$10 million originating from the private sector. Perennial Real Estate...
General
RESALE prices of non-landed private homes in Singapore rose 0.3 per cent in November 2016 over the previous month, based on SRX Property's flash estimates for last month released on Tuesday. This contrasts with a 0.7 per cent month-on-month decline in the index for October 2016. Last month's increase in the index came on the back of price gains of 0.5 per cent in the Core Central Region (CCR) and 0.4...
Real estate developers and financial investors are capitalising on fast-rising demand for leasing of "co-working" spaces in China, as Beijing encourages startups and small businesses in a bid to offset slowing growth at traditional industries. Developers, including China Vanke, Soho China and Singapore's CapitaLand, are renting out property space that hordes of self-employed persons or small-sized...
THE Work Project - a Hong Kong-based co-working space operator - is the official co-working space partner of Downtown Gallery in OUE Downtown, OUE's upcoming mall located at 6 Shenton Way, The Business Times has learnt. It will fill the entire fourth floor of Downtown Gallery - that is, 20,000 square feet of space - and is set to deliver a new concept here of workspaces designed for the future...
THE freehold bungalow at 85 Branksome Road, vacated by the bankrupted managing director of spice and nut trader Pars Ram Brothers and his family, has found a buyer. According to caveats obtained by The Business Times, the property was sold to a special purpose vehicle (SPV) named Branksome Realty 1 Pte Ltd for S$15.08 million. This was below the opening price of S$16 million at its first auction, where...
Homegrown space provider JustGroup is rapidly scaling up its presence in the segment of co-working spaces, with plans to open two new shared offices in the heart of Singapore's Central Business District (CBD) next April. Its co-working brand JustCo currently offers 50,000 square feet of space at two locations - 120 Robinson Road and 6 Raffles Quay. With a combined floor area of more than 100,000 square...
French multinational company AccorHotels will be investing S$24 million into Singapore-based hospitality brand Banyan Tree Holdings, the latter said in a press release on Thursday (Dec 8). Under the long-term partnership, both parties intend to work together to develop and manage Banyan Tree branded hotels around the world. Banyan Tree will also have access to AccorHotels’ global reservations and...
The Housing & Development Board (HDB) announced on Saturday (Dec 10) it has given out about S$83 million in Proximity Housing Grants (PHG) since the scheme was announced over a year ago, helping more than 4,300 families. HDB said the response to the scheme "has been very encouraging" as it gives Singaporeans more options to buy a resale flat with or near their parents or married children, in their...
Real estate agency SQFT Global Properties Singapore was on Oct 4 fined S$10,000 for failing to supervise its agent with regard to the sale and marketing of a property in New Zealand. In a media release on Monday (Dec 5), the Council for Estate Agencies (CEA) said Paleenia Wong Mui Wah, who was an agent with SQFT Global Properties Singapore at the time, had told an investor that the NZ$65,000 (S$65,555)...
The minimum occupation period of the Fresh Start Housing Scheme can be “flexible” depending on the progress of the household, said Minister of State for Defence and Foreign Affairs Maliki Osman on Saturday (Dec 3). Fresh Start Housing, which opened for application on Thursday, is a scheme to help public rental families who once owned a Housing and Development Board flat to afford one again. Of...