LEE Rubber Company is selling a stand-alone block of 11 adjoining conservation shophouses in Lavender Street for nearly S$55.56 million. A fully-owned unit of Lee Rubber that owns the freehold interest in the property will carve out a 99-year leasehold interest for the buyer, Broadway Textile. Broadway is located at Textile Centre along Jalan Sultan nearby and is understood to have a part...
General
Five teams have been shortlisted to develop a concept master plan for the Jurong Lake District, billed as Singapore’s second Central Business District, the Urban Redevelopment Authority (URA) said on Tuesday (Sep 27). “This marks another important step towards realising the vision of Jurong Lake District as a ‘district of the future’ and our second Central Business District,” URA said in a...
To make way for a new neighbourhood in the Teacher's Estate area, clearing work has begun at a large part of a 30-hectare secondary forest just off Yio Chu Kang Road. Bound by Tagore Road, Upper Thomson Road, Munshi Abdullah Avenue and Yio Chu Kang Road, land preparation work will take about five years. Currently, low hoarding of about three metres high has been put up and this could be extended to...
London's mayor Sadiq Khan will launch an inquiry into foreign ownership of property in the British capital which has helped push up housing costs, the Guardian newspaper cited him as saying on Thursday (Sep 29). "It's clear we need to better understand the different roles that overseas money plays in London's housing market, the scale of what's going on, and what action we can take to support...
THOUSANDS of potential buyers thronged the showflats of private condominium projects Forest Woods and The Alps Residences over the weekend when they were first opened for preview. MCC Land's spokesman said some 6,000 visitors were recorded over Saturday and Sunday, attributing this to a lack of new condo launches in Tampines since the launch of The Santorini, also a MCC Land project, in 2014. More...
PRICES of high-end residential homes are bottoming out on the back of a host of reasons such as a significant volume pick-up, return in foreign interest, relatively cheaper pricing compared to global peers and a limited supply in the medium to long term. This is according to the projections of JPMorgan, the latest among market watchers to call for a bottom in the high-end segment here. A list of some...
To reduce its reliance on foreign manpower, Singapore will need to "fundamentally change" the way it builds and adopts high impact, productive technologies upfront, Senior Minister of State for National Development Desmond Lee said on Wednesday. One way to do so will be for players in the building and construction industries to build capabilities in the building information modelling system to improve...
PRICES of completed private apartments and condominium units here generally eased in August over July, with the Non-Central Region faring worst. This is according to the National University of Singapore's (NUS) August 2016 flash estimate for its Singapore Residential Price Index (SRPI) series released on Wednesday. NUS' data showed that the sub-index for Non-Central Region (excluding small units of...
AT its recent mid-Autumn festival lunch, the Real Estate Developers' Association of Singapore (Redas) flagged the nearly 21,500 unsold private residential units in the pipeline as at the second quarter, and warned that if industry experts expect only between 7,500 and 8,500 units to be sold by year's end, it would take about three years for the market to sop up these unsold units. Indeed, official...
MORE prime shophouse properties have been put on the market as owners ride on a renewed wave of buying interest from local and foreign investors. JLL is launching an expression of interest (EOI) exercise for 22 and 23 Mosque Street, a pair of restored freehold conservation shophouses spanning three storeys and a mezzanine level. The two shophouses are on a single land lot of about 2,688 sq ft and have a...