Real estate giant City Developments (CityDev) will inject three of its office properties into an investment platform, in a move that will free up hundreds of millions of dollars in funds for new investments. In a statement on Tuesday (Dec 15), CityDev said the three properties are Central Mall (Office Tower), 7 & 9 Tampines Grande and Manulife Centre. The properties - valued at around S$1.1 billion -...
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Real estate fund manager M&G Real Estate will become the sole owner of Compass Point mall in Sengkang, after entering into a deed to buy the remaining 18.99 per cent of shares it does not already own. M&G said on Wednesday (Dec 16) it will be buying the shares from FCL Centrepoint, a subsidiary of Frasers Centrepoint. The transaction is expected to be completed in February next year, M&G added. FCL...
Amid all the gloom and doom surrounding the private residential market, a more contrarian view that has emerged now points to green shoots of recovery in the second half of 2016. A continual downward drift in residential prices is almost a foregone conclusion in light of rising vacancies, impending interest-rate hikes and a slowing economy, consultants say. But some believe transactions could see a...
Sales of private homes by developers in Singapore rose 79 per cent in November compared with a year earlier, government data showed on Tuesday (Dec 15). The Urban Redevelopment Authority said developers sold 759 units last month, up from 423 units in November 2014. Sales rose 38.5 per cent from the 548 units sold in October 2015. Source : Channel NewsAsia – 15 Dec...
Dover Street Market, an edgy fashion retail and concept store conceived by Comme des Garçons’ Rei Kawakubo, will be opening its first Singapore outlet in Dempsey. The multi-brand store will be opening in one of two blocks on Dempsey Road, Block 17 and 18, which have been awarded to COMO Lifestyle in a tender to develop the site for retail and food and beverage (F&B) use. COMO Lifestyle scored the...
Former flat owners now living in rental flats may soon be able to buy 2-room Flexi flats with shorter leases with a second concessionary loan and a housing grant, National Development Minister Lawrence Wong said. These are some of the ideas the Housing and Development Board (HDB) is exploring for the Fresh Start Housing Scheme, Mr Wong said in a blogpost on Tuesday (Dec 15). A new housing grant will...
Orchard Central will be undergoing a revamp, its first since the mall opened in 2009. In a statement issued on Monday (Dec 14), Mr Eric Tong, assistant director of Far East Organization's Retail Business Group said works on the mall began in the fourth quarter of this year and will be completed in the third quarter of 2016. These include the introduction of new escalators and reconfigured walkways,...
The one-stop destination for electronic gadgets, Funan DigitaLife Mall, will close its shutters in the third quarter of next year as its owner, CapitaLand Mall Trust Management, has plans to turn it into a new integrated development over three years. The redevelopment of the shopping mall could potentially increase its floor area by as much as 80 per cent, according to property firm SLP International....
Despite the slowing down of the private property market, more than two-thirds of the units at the Red House Project have been sold. The Red House, which once housed a famous bakery, was an iconic landmark in the Katong District. Two years after the launch of the project, Warees Investments, the property arm of the Islamic Religious Council of Singapore (MUIS), on Thursday (Dec 10) said it is on track...
SGX broke its mainboard IPO duck this year, welcoming BHG Retail REIT as its first and likely only mainboard listing in 2015 on Friday (Dec 11). BHG Retail REIT has five retail properties, with another 12 in the pipeline, all located in China. It is the first REIT backed by a Chinese-based group to be listed in Singapore. BHG Retail REIT's five retail properties are in key cities Beijing, Chengdu,...