Funan DigitaLife Mall closes for renovations this month, and while some retailers at the IT and electronics hub have indicated they are moving operations online, at least two players said they are sticking with brick-and-mortar stores. One of them is AddOn Systems, which has been at Funan for as long as the mall has existed. This connection will come to an end when AddOn moves to Bugis Junction after...
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Owners at Harbour View Gardens in Pasir Panjang are hoping to make it second time lucky, after launching the project for collective sale at about $34 million yesterday. About three years ago, the proposed sale of the site to Roxy-Pacific Holdings for $33 million was blocked by the High Court, and the decision was upheld by the Court of Appeal. The basis for the rejection was that the public tender...
FRESH from selling Asia Square Tower 1 for S$3.4 billion, or around S$2,700 per square foot (psf) on net lettable area (NLA), to Qatar Investment Authority, BlackRock says it is looking at Singapore for other potential property investment opportunities. "We are looking predominantly at office and retail at the moment. Residential probably has a little bit further to fall because of the taxes (such as...
QATAR Investment Authority (QIA) said on Monday it has reached an agreement with a subsidiary of a fund advised by BlackRock to acquire Asia Square Tower 1 in Singapore at about S$3.4 billion. This marks the largest single-tower real estate transaction in Asia-Pacific to date, and the second largest single-tower real estate transaction globally. Asia Square Tower 1, an award-winning landmark office...
A decade after he got shunted aside at Facebook Inc, Eduardo Saverin's found another scrappy internet startup he's proud to put his name behind. The billionaire is reinventing himself as an Asian venture capitalist and thinks he's found a winner in little-known 99.co, a Singaporean house-hunting service founded by local wunderkind Darius Cheung. So much so that Mr Saverin, who's flown under the radar...
THE downtrend in the supply of state land in the confirmed list for private housing (excluding executive condos) development may be reversed in the second-half of this year. Some property consultants predict a moderate rise in supply, citing developers' strong appetite for land replenishment and a recent pick-up in private home sales. The timing of any potential tweaking of cooling measures would also...
In what is the biggest transaction in a Good Class Bungalow Area in nearly a year, a house along Kingsmead Road where the late Raffles Institution principal Philip Liau used to reside is being sold for S$29 million. The price works out to S$1,065 per square foot based on the freehold land area of 27,228 sq ft. The buyer is understood to be Darwin Indigo, a nephew of Wilmar executive deputy chairman...
SINGAPORE tycoon investor Peter Lim has bought a 20 per cent stake in TheEdgeProperty.com, the new property portal of Malaysia's The Edge Media Group, for an undisclosed sum. The EdgeProperty.com was launched in Malaysia on May 7, and will officially make its debut in Singapore on July 25. Mr Lim had previously also invested in Valencia football club, Thomson Medical Centre, FJ Benjamin, and McLaren....
A new per square foot record price for an entire Singapore office building could be set if a deal that is brewing for Straits Trading Building on Battery Road materialises. Indonesian tycoon and philanthropist Tahir is said to be in exclusive due diligence with a view to purchase the 28-storey, 999-year leasehold building for S$560 million. This translates to slightly more than S$3,520 psf based on the...
THE Straits Trading Company's subsidiary, Straits Real Estate, has entered into a conditional purchase and sale agreement with Osaka-based developer Chinju Co to acquire three residential buildings located in Central Osaka for 6.2 billion yen (S$76.8 million). Completion of the acquisition is expected to take place by end-June. "The acquisition will complement Straits Real Estate's existing...