Starwood Hotels & Resorts Worldwide is planning to expand its portfolio in the Republic with a new hotel at the downtown city centre under its lifestyle brand W Hotels. It would be the US-based hotel chain’s second property under this brand after W Singapore Sentosa Cove. It also has a property under St Regis brand here. Both of the Singapore properties managed by Starwood — St Regis Singapore and...
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CapitaLand Commercial Trust (CCT), Singapore’s largest office real estate investment trust, will acquire the remaining 60 per cent stake it does not own in the CapitaGreen office tower for S$393 million. CCT will buy a 50 per cent share from CapitaLand group and another 10 per cent share from Mitsubishi Estate Asia, the company said in a filing to the Singapore Exchange on Monday (May 23). The...
Sales of new private homes fell 11.6 per cent in April despite more property units being launched. Excluding executive condominiums (ECs), property developers sold 745 units last month compared with the 843 units sold in March, data from the Urban Redevelopment Authority (URA) showed on Monday (May 16). Including ECs, 1,291 units were sold, down from March's 1,328 units. Excluding ECs, 900 units were...
Shunfu Ville has been sold for S$638 million to developer Qingjian Realty. It is one of the largest collective sale deals since Farrer Court in 2007. The deal was struck after 80 per cent of the owners agreed to accept the offer, despite it being lower than the reserve price of at least S$688 million. With the sale, owners of the 358-unit development will receive an average of S$1.78 million for...
Five hundred and forty-one households have taken up Housing and Development Board’s Lease Buyback Scheme within a year of enhancements, with 233 households owners of four-room flats. HDB noted that this annual take-up had more than doubled compared to previous years. Since the launch of the scheme in 2009, 471 households signed up in the first four years - averaging at about 117 annually. A further...
Property buyers who want to avoid the stress of using an agent who turns out to be a dud have an extra tool at their disposal, following the launch of real estate agency OrangeTee's platform that allows customers to write reviews and rate their agent. These reviews will then be published in full on the agents’ profile pages, which include contact information, a short biography, past achievements and...
CHEUNG Kong Property Holdings, which is developing private condominium project Stars of Kovan, has released a lower average pricing of S$1,417 per square foot (psf) for the first batch of units to be released for sale this weekend. This represents a larger-than-expected drop from the indicated prices released earlier, and comes on the heels of the full price-list released by the developers of GEM...
CBRE has launched an expression of interest (EOI) for the sale of a freehold site at 2 Derbyshire Road. Nestled in Novena within an established residential enclave, the 6,768 sq ft site comes with an existing four-storey building, and its current gross floor area is about 8,742 sq ft. Located just off the main junction of Thomson Road, the site is zoned for "civic and community institution". It is...
SC Capital Partners, a Singapore private equity real estate firm with US$1.2 billion in assets, said recent price declines make investing in Hong Kong property attractive. Founder Suchad Chiaranussati said he expects the Singapore government to maintain residential curbs in the city-state until the end of next year. Hong Kong offers more value after prices for homes, offices and hotels dropped, he said...
Singapore's second-largest developer has taken a potshot at the prices of prime land in the country, describing them as exorbitant and predicting that they'll only get even more expensive in years to come. "In land-scarce Singapore, it is increasingly difficult to secure prime land of this scale and even if available, the asking price for land alone is exorbitantly high," City Developments Ltd said in...