The average size of executive condominium units has become smaller over the years, say property analysts. And the trend is likely to continue as developers struggle between maintaining their bottom lines and keeping units affordable for buyers. Executive condominiums (ECs) were introduced about 20 years ago, and since then, unit sizes have been shrinking. According to property firm SLP International,...
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More than 1,000 people visited the Kingsford Waterbay showflat on Saturday (Feb 21). Located at Upper Serangoon View, the project has 1,165 units on offer. These range from one to five-room apartments - though smaller units make up about half of those on offer. Prices are expected to start at above S$500,000 for a one-room unit. The development is the first to stand on two plots of adjacent land...
Sales of private homes in January rose from the previous month as developers launched more units. Excluding executive condominiums (ECs), developers sold 372 new units in January, up from the 230 units sold the previous month, data from the Urban Redevelopment Authority showed on Monday (Feb 16). Including ECs, 556 new units were sold last month, up from 406 units the previous month. The rise in...
Property group Frasers Centrepoint (FCL) on Tuesday (Feb 17) unveiled plans for Frasers Tower, its latest project in downtown Singapore. Frasers Tower is a 38-storey premium Grade A office development located at Cecil Street in the Central Business District. It will have a total net lettable area of around 690,000 square feet (sq ft) with an open-space terrace on the fourth floor, and a roof...
Frasers Centrepoint on Tuesday (Feb 17) announced it awarded the main contract for Northpoint City to Lum Chang Building Contractors, and works for the development in Yishun will begin on April 15. The integrated development is expected to be completed by 2018, and will mark a landmark change for the mature estate - one of the earliest townships developed in the late 1970s, Frasers Centrepoint said in...
Real estate company CapitaLand Limited posted a Profit After Tax and Minority Interests (PATMI) of S$409.4 million for the fourth quarter of 2014, an 187 per cent increase over the same period in 2013, it announced in a news release on Tuesday (Feb 17). The group also posted a PATMI of S$1.16 billion for the 2014 financial year, which is a 38.2 per cent increase year-on-year. The group attributed the...
A proposed merger of four urban solutions firms under industrial landlord JTC Corporation and investment company Temasek will go ahead - and is expected to be completed by June 2015. The tie-up between Ascendas, Singbridge Group, Jurong International and Surbana International Consultants will create an integrated platform for sustainable urban development to pursue large-scale and complex projects...
Police have arrested a 49-year-old man believed to be involved in more than 20 cases of rental scams, the Singapore Police Force announced on Tuesday (Feb 17). In a news release, police said that on Feb 14, two similar cases of flat rental scams were reported. In these cases, the victims had responded to an online advertisement for rental of a unit in Boon Lay Drive and Ghim Moh Road. "The suspect...
The Housing Development Board (HDB) has about 10,000 balance flats currently, with about 3,000 units in mature estates. About 4,000 units are three-room and smaller flats. These flats are planned to be released in two batches of about 5,000 units each, to offer more choices of flat types in various locations and give applicants a better chance of success for each exercise. Minister of State for...
As at Jan 31, 87,900 households have rented out their flat, or one or more rooms. Ninety-two per cent of these are Singaporean households, while the remaining 8 per cent are owned by permanent residents. Since January 2013, the Housing Development Board (HDB) has disallowed permanent residents from subletting their entire flats. These figures were given by Minister of State for National Development...