GUOCOLAND, controlled by Malaysian tycoon Quek Leng Chan, recently completed Guoco Tower - the office component of its integrated mixed-development project, Tanjong Pagar Centre, on a 99-year leasehold site above Tanjong Pagar MRT Station. The mainboard-listed property group has announced that 80 per cent of the 890,000 sq ft net lettable area of office space has been committed, that is either leased or...
General
LEVEL 15 is probably the "luckiest" floor in new condominium project Parc Riviera at West Coast Vale, thanks to an unconventional pricing strategy by its developer. In what could be unprecedented for new property launches, EL Development is adopting a "one-tier pricing" scheme for the first day of sales this Saturday for each unit type from the lowest floor to the 15th floor of the 36-storey...
DATA released by the Urban Redevelopment Authority (URA) shows that its retail property rental index fell 1.5 per cent in the third quarter of this year over the preceding quarter - a smaller decline compared with the 3.9 per cent quarter-on-quarter drop in Q2 2016. URA's retail property price index eased 0.6 per cent q-o-q in Q3 2016, after sliding 3.1 per cent in Q2 2016. The islandwide vacancy...
No significant market impact or policy changes are expected from the announced transfer of industrial units and industrial land leases from the Housing & Development Board (HDB) to JTC Corporation, especially since there will be no change to the contracted terms and conditions of existing HDB industrial tenancies and leases. But what's notable is the beefing up of JTC's role as an industrial landlord...
A surge in purchases of Hong Kong homes by non-residents offers one explanation for what's driven an 11 per cent rebound in property prices from a March bottom. In September, 250 homes were sold to non-resident foreigners, the most in 14 months and 36 per cent higher than the average for the previous four months, according to data from Hong Kong's Inland Revenue Department. That compares with a low of...
Singapore real estate investment trusts have gone from last year's biggest losers to this year's best performers as their world-beating yields attract investors including BNP Paribas Investment Partners to Samsung Asset Management. Singapore Reits, which mostly invest in malls, offices and industrial buildings, offer the highest dividend yields among developed markets, according to data compiled by...
INDUSTRIAL land and properties currently under the Housing & Development Board (HDB) will soon be consolidated under JTC Corporation (JTC) to better support small and medium-sized enterprises (SMEs) in their business growth. Minister for Trade and Industry Lim Hng Kiang on Wednesday announced that in the first quarter of 2018, some 10,700 industrial units and 540 industrial land leases under HDB will be...
AUSTRALIA-LISTED property developer Lendlease is optimistic about appetite for its S$3.2 billion Paya Lebar Quarter urban regeneration mixed-use development, even as the retail sector is softening and outlook for the Singapore economy gets gloomy. Sharing the plans for the project located at the junction of Paya Lebar Road and Sims Avenue, Lendlease on Monday said the development will comprise seven...
AFTER a relatively quiet August and September amid an absence of fresh project launches, developers' private home sales are expected to soar this month, possibly to the highest monthly level this year, on the back of a few big new-project launches. Already Forest Woods near Nex mall and Serangoon MRT station and The Alps Residences in Tampines, both released earlier this month, have sold well; at least...
CONSTRUCTION firm Lian Beng Group announced on Monday it has acquired Khong Guan Industrial Building, an eight-storey freehold building at 20 Mactaggart Road, for S$31 million. The deal was done through Lian Beng's wholly owned subsidiary Smooth Venture. The light industrial building has a gross floor area of 57,019 square feet. The purchase amount means the price per square foot is approximately...