Of all the ways our lives have changed during the coronavirus pandemic, few are as obvious as how and where we eat. With restaurants either shuttered or reopening with vastly reduced capacity, and people staying home as second-wave outbreaks erupt, demand for food-delivery services has exploded. Now Kishin RK, the 36-year-old heir to a multi-billion dollar Singapore property empire, is joining the...
General
A prime development site at 15 Hoe Chiang Road will be put up for sale with a guide price of S$715 million via expression of interest on Wednesday, exclusive marketing agent JLL said on Tuesday. The freehold 39,337 square foot (sq ft) site has been approved for hospitality use with a gross floor area (GFA) of about 248,483 sq ft, or an equivalent gross plot ratio (GPR) of above 6.31 based on written...
Three adjoining conservation shophouses at 223, 225 and 227 Geylang Road are up for sale collectively by expression of interest with a guide price of S$12 million, exclusive marketing agent CBRE said on Monday. The freehold, two-storey shophouses sit on a combined site of about 4,318 square feet (sq ft), with a total built-up area of about 6,754 sq ft. After factoring in an estimated development...
A freehold four-storey commercial and residential building at 320 Balestier Road has been launched for sale via expression of interest with a guide price of S$22 million, Showsuite Consultancy announced on Monday. The guide price translates to an estimated blended rate of S$1,200 per square feet (psf) based on the existing gross floor area (GFA), said Karamjit Singh, chief executive officer of...
With the retail sector one of the hardest hit by the Covid-19 pandemic, property analysts are expecting retail rents to decline by between 4 and 14 per cent for the whole of 2020. Despite the drop in rents, they do not expect retailers to take up vacant lots, especially in prime shopping malls in the central region. Analysts expect rents in prime malls in areas such as Orchard Road to drop by between...
Despite the economic slump as a result of the Covid-19 pandemic, the existing cooling measures for the property market will stay, the head of Singapore’s central bank said. Mr Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), said that this is because the property market has remained stable as a result of previous property curbs. There are also the temporary relief measures...
CDL Hospitality Trusts (CDLHT) has completed the sale of its entire stake in Novotel Singapore Clarke Quay, while Ascott Residence Trust (ART) has sold its interest in the land which includes Somerset Liang Court Singapore. These form part of the transaction for the Liang Court site’s redevelopment - by a consortium comprising real estate heavyweights CapitaLand Limited, City Developments Limited...
Retail sales assistant Joyce Loh and her husband were supposed to get the keys to their new Build-To-Order (BTO) flat in Bukit Batok last month but will now have to wait till the start of next year. Their block in West Plains @ Bukit Batok is one of several in BTO projects facing a longer delay of up to nine months, in a revision of an earlier estimation of six months, the Housing Board (HDB) told The...
Green Court, a freehold mixed-use development along Geylang Road, has been relaunched for collective sale by tender, sole marketing agent Knight Frank Singapore said on Wednesday. It was previously launched for sale by tender in January, with owners also expecting offers above their S$28 million reserve price. Including an additional development charge of about S$5.24 million payable to the...
A seven-storey light industrial building at 463 MacPherson Road is up for sale via private treaty with a guide price of S$21 million, marketing agent Savills Singapore said on Monday. The property has a total gross floor area of about 38,287 square feet (sq ft), a land area of 14,400 sq ft and comes with a basement car park and a sky terrace. The property sits on land zoned B1 Industrial and has a...