The Tengah new town, which had been announced earlier, will be integrated with Jurong Innovation District and planned as a "Forest Town", announced National Development Minister Lawrence Wong in Parliament on Monday (Apr 11). Tengah new town will be next to the Jurong Innovation District, which was earlier announced by Finance Minister Heng Swee Keat during his Budget 2016 statement, said Mr Wong. The...
General
PRICES of non-landed private homes in the resale market inched up 0.3 per cent last month, compared with February, SRX Property estimates. This was buoyed by the Rest of Central Region (RCR) and Outside Central Region (OCR), which posted 0.1 per cent and 1.3 per cent price increases respectively. Resale prices in the Core Central Region (CCR) however slipped 1.7 per cent last month. For the overall...
SINGAPORE'S Minister for National Development Lawrence Wong on Monday maintained that the property cooling measures have been effective in stabilising the property market and it remains "too early to declare victory and unwind the measures". A week ago, Member of Parliament Christopher de Souza (Holland-Bukit Timah) had reiterated his call for the government to take a gradual approach in easing the...
PROPERTY developer Oxley Holdings has agreed to sell 241 units at Plot 21 of the Royal Wharf Development in London for £59.9 million (S$115.6 million). The buyers have paid £1.8 million of the consideration amount, and will pay the remainder upon completion of Plot 21, which is expected to be in the fourth quarter of 2018. The sale was carried out by Oxley's wholly owned unit Oxley Wharf Property...
Office rents in Singapore's CBD fell by 3.9 per cent in the first quarter of this year from the previous quarter - their third straight quarterly decline - as concerns over a global economic slowdown dampened demand for office space. according to DTZ Southeast Asia, office rents fell to S$9.90 per square foot (psf) per month in Q1 2016, which is expecting them to continue dropping due to weak demand and...
Social networking site LinkedIn opened its S$80 million Singapore data centre on Wednesday (Apr 6) - the company's first data centre outside of the United States. The 23,500-square-feet facility is housed in Digital Realty Trust's data centre in Jurong, and will process all of LinkedIn’s online traffic in the Asia-Pacific region and handle about a third of global traffic, it said in a news release....
OFFICE rents in Singapore's central business district (CBD) fell by 3.9 per cent in the first quarter of this year from the previous quarter - their third straight quarterly decline - as concerns over a global economic slowdown dampened demand for office space. Office rents fell to S$9.90 per square foot (psf) per month in Q1 2016, according to DTZ Southeast Asia, which is expecting them to continue...
DISRUPTIVE technology may be shaking up the property valuations space, but the incumbents have sounded a note of caution to the use of computer-generated valuations. The Singapore Institute of Surveyors and Valuers (SISV) on Wednesday stated categorically that it does not recognise these valuations. "Such computer-generated values are not considered valuations (in accordance with SISV Valuation...
A PROPERTY fund managed by Alpha Investment Partners has taken full ownership of 78 Shenton Way after buying out partner Commerz Real's half stake in the asset. Alpha Investment Partners is part of Keppel Corporation. The transaction, said to have been done three weeks ago, was effected through the sale of shares in the special purpose vehicle that holds 78 Shenton Way. The deal priced the entire...
AccorHotels, Europe's largest hotel group, said on Tuesday it bought British high-end serviced home rental company onefinestay as it fights the rising challenge of online home-sharing company Airbnb and booking websites like Expedia. The world's fifth-largest hotel group, undergoing a reorganisation initiated by Chief Executive Sebastien Bazin, said it paid 148 million euros (S$228.56 million) for...