AUSTRALIA-LISTED Lendlease has unveiled its plans for the S$3.2 billion Paya Lebar Quarter urban regeneration mixed-use development. The development, located at the junction of Paya Lebar Road and Sims Avenue, is directly connected to two train lines, and will comprise seven buildings across the 99-year leasehold site. The site, comprising two land parcels with a total area of 3.9 hectares, was...
General
DEVELOPERS sold 509 private homes, excluding executive condominium (EC) units, in September 2016, up from 468 units in August 2016 and also higher than the 341 units for September 2015. Including ECs, which are a public-private housing hybrid, developers moved 769 units last month, slightly lower than the 799 units they sold in August 2016 but higher than the 629 units sold in September 2015. The...
A Lee Foundation-linked company has sold a row of four freehold conservation shophouses along Outram Road for S$23.8 million to construction and property group Chiu Teng. In another deal, a pair of adjoining shophouses at 277 and 279 New Bridge Road - where Korean BBQ and steamboat restaurant Manbok operates on the ground floor - was sold for S$14.5 million. The freehold, four-storey shophouses,...
Goodwood Park Hotel, once one of the best-known listed companies here, is offering to buy out its remaining minority shareholders. The Khoo family used Hotel Holdings, a private vehicle, to mount a voluntary unconditional cash offer yesterday for all the remaining shares it does not own at $43 per share. The offer values the company at $1.85 billion. The Straits Times understands that there are 183...
TWO ultra high net worth foreign property investors in Singapore are expanding their presence here. In the luxury condo market, a Hongkonger and Singapore permanent resident who co-founded a jewellery business in the Special Administrative Region is understood to have picked up a duplex penthouse at Nassim Park Residences for S$21.2 million. The 6,878 square feet penthouse - which has four bedrooms,...
The hotel that was formerly known as Movenpick Heritage Hotel Sentosa and is being rebranded into a Le Meridien has been put on the market. Sources say the asking price is S$300 million, although two recent valuations were done at S$270 million and S$284 million. These valuations work out to S$1.41 million and S$1.49 million per room respectively. Talk in the market is that both valuations assume a...
RENTALS as well as leasing volumes fell month-on-month (m-o-m) in September 2016 for both non-landed private homes and HDB flats, according to the latest flash estimates released by SRX Property on Wednesday morning. SRX's rental index for private apartments and condos fell 0.6 per cent in September 2016 over August 2016 after easing 0.5 per cent m-o-m in August 2016. The index has contracted 4.6 per...
Singapore’s iconic Raffles Hotel will embark on a 16-month restoration programme starting January 2017, the hotel announced on Tuesday. SINGAPORE’S iconic Raffles Hotel will embark on a 16-month restoration programme starting January 2017, the hotel announced on Tuesday. Structurally, the heritage property will remain unchanged; it was declared a national monument in 1987. As such, the...
NON-LANDED private residential resale prices fell 0.9 per cent in September to the lowest level in four years since July 2012, while volume slumped 17.7 per cent. According to data compiled by SRX Property, an estimated 683 private condominium and apartment units were resold in September, compared to 830 units resold in August. R'ST Research director Ong Kah Seng said: "The price fall from July to...
Resale prices for non-landed private homes fell 0.9 per cent in September 2016 from August to their lowest level in 50 months since July 2012, data from SRX Property on Tuesday morning showed. SRX said prices in the city fringe fell 1.3 per cent while those in the suburbs tumbled 1.5 per cent from the previous month. However, city centre prices rose 0.6 per cent in September from the preceding...