AS part of its global exercise to go asset-light, Wartsila Singapore - the Singapore unit of Finland-listed marine and energy player Wartsila - is putting up five industrial properties here for sale via an expression of interest (EOI). Two properties located at 11 Pandan Crescent and 14 Benoi Crescent will be sold on sale-and-leaseback arrangements, while the other three properties at 43, 45 and 47 Gul...
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OCBC seems to be on a roll selling conservation shophouse properties of late. It recently sold a pair of adjacent freehold shophouses at 11 and 13 Bukit Pasoh Road for S$25 million. The buyer is understood to be the Leong family behind the famous homegrown Axe Brand medicated oil. The price works out to S$2,940 per square foot on the gross floor area (GFA) of 8,503 sq ft. The gross yield is about 1.5...
CLSA Capital Partners is said to have been selected to do exclusive due diligence for the purchase of 77 Robinson Road. The pricing is believed to be above S$530 million, or slightly above S$1,800 per square foot based on the net lettable area (NLA) of nearly 293,270 sq ft. Formerly known as Singapore Airlines (SIA) Building, the 35-storey office tower is on a site with 99-year leasehold tenure that...
The private home market returned to the doldrums in August, with sales of new condominiums down 56.6 per cent from the previous month, according to data from the Urban Redevelopment Authority (URA) released on Thursday (Sep 15). Excluding executive condominiums (ECs), property developers sold 473 units in August, less than half of the 1,091 units sold in July. Including ECs, 805 units were sold, down...
The upcoming Tengah development will feature eco-friendly water and energy features, an automated waste system as well as software that will aid in the planning of the town, the Housing and Development Board said on Friday (Sep 9). Dubbed “Forest Town”, Tengah will be the first HDB town planned with smart technologies from the onset. The first batch of flats in the town will be launched in...
The upcoming Tengah development will feature Singapore's first car-free Housing and Development Board (HDB) town centre, and the first batch of flats will be made available from 2018. Details of HDB's 24th town, dubbed "Forest Town" as it will be integrated with the area's greenery and biodiversity, was revealed by National Development Minister Lawrence Wong at the HDB Awards ceremony on Thursday (Sep...
The resale prices of Housing and Development Board (HDB) flats fell slightly last month and significantly more flats were sold, according to flash estimates released by SRX Property on Thursday (Sep 8). On a month-on-month basis, HDB resale prices were down 0.7 per cent in August. Compared to a year ago, prices declined by 0.2 per cent. Resale prices of four-room flats led the decline, falling by 1...
The upcoming Funan integrated development will include a Golden Village cinema, indoor climbing gym as well as a click-and-collect shopping experience, announced developers CapitaLand at the site's groundbreaking on Wednesday (Sep 7). The redeveloped Funan DigitaLife Mall, which is expected to be completed in 2019, will retain its digital roots by selling IT products. Additionally, the mall will...
The Monetary Authority of Singapore (MAS) said on Thursday (Sep 1) that it is fine-tuning the refinancing rules under the Total Debt Servicing Ratio (TDSR) framework to allow borrowers more flexibility in managing their debt obligations. The move was in response to feedback from some borrowers who are unable to refinance existing property loans owing to the application of the 60 per cent TDSR threshold,...
Staring next year, all operators of factory-converted dormitories (FCDs) will have to meet four new conditions when seeking approval to use their industrial premises to house foreign workers, announced the Ministry of Manpower (MOM). In a press release on Wednesday (Aug 24), MOM said the new rules follow consultations with industry stakeholders and calls earlier this month to operators to raise housing...