A land parcel for an executive condominium (EC) development attracted relatively large number of responses at the close of the tender on Thursday (Feb 12), but the top bid received was the lowest in three-and-a-half years. The Housing and Development Board (HDB) said it received seven bids for the EC land parcel at Woodlands Avenue 12. Hao Yuan Investment submitted the top bid of S$103.79 million, which...
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Rowsley, a real estate, architectural and engineering consultancy firm part-owned by Singapore billionaire Peter Lim, is making its foray in Myanmar by investing US$275 million (S$274.5 million) in a property project in Yangon. Under a heads of terms agreement signed on Thursday (Feb 12), Rowsley will take a 50 per cent stake in a company that wholly owns HAGL Myanmar Centre - one of the country's...
Rental prices for Housing and Development Board (HDB) flats fell 0.5 per cent in January from the previous month, while rents for private homes rose 0.2 per cent, according to SRX Property. Four-room, five-room and executive flats saw rental prices fall 1.3 per cent, 0.3 per cent and 1.6 per cent, respectively. Three-room flats, however, bucked the trend with rents rising by 0.3 per cent. On-year,...
Going into 2015, property developers are gearing up to roll out new private residential projects. Amid challenging market conditions, analysts said the new units will likely be more competitively priced. Looking at past transactions, real estate agency PropNex Realty said prices of new homes have weakened by 10 to 12 per cent on average over the past year. Symphony Suites at Yishun was launched over...
Rents for shops and restaurants in Singapore are expected to fall this year, with prime rents on Orchard Road forecast to recede by 3 to 5 per cent and rents in suburban malls by up to 3.0 per cent, real estate services firm Savills said in a report on Wednesday (Feb 11). "It appears that landlords in the prime shopping districts are beginning to hold out olive branches to retailers, many of whom are...
Home owners and developers will soon get to enjoy greater flexibility in configuring the interior space of their landed homes, after the Urban Redevelopment Authority (URA) on Wednesday (Feb 11) released a new set of guidelines for landed houses. The new guidelines will come into effect on May 11 to give the industry sufficient notice of the change, said URA. The guidelines adopt an approach where the...
JTC on Wednesday (Feb 11) broke ground for the first industrial development in the Republic that will house companies within the entire manufacturing value chain when it is completed in 2017. The development, JTC @ Space, is sited on a 6.4-hectare land in Tuas, and will have seven land-based factories on the ground floor for heavy manufacturing activities such as those in the oil and gas sector. There...
Far East Hospitality Trust (FEHT) posted lower revenue and earnings for the fourth quarter of 2014, hurt by lower occupancy and room rates at its hotels and serviced residences in Singapore. FEHT, whose properties include the Rendezvous and Orchard Parade hotels, said on Wednesday (Feb 11) that it recorded gross revenue of S$30.3 million for the quarter - a drop of 9.8 per cent compared to the same...
The Housing and Development Board on Wednesday (Feb 11) launched its first Build-To-Order Exercise of the year, with 3,995 new flats in Bukit Batok, Hougang and Geylang made available. This is the first tranche of a total of 16,900 BTO flats planned for release in 2015. HDB said that in May, it will offer about 4,040 BTO flats in Clementi, Punggol North, Sembawang and Tampines, while between 4,000 and...
The non-landed private residential resale market here continued to weaken in January with prices falling and sales volume staying flat compared to the previous month, SRX Property said Tuesday (Feb 10). Resale prices for the segment dipped another 0.2 per cent in January from the preceding month, a flash report by SRX showed. On a year-on-year basis, prices were 6.5 per cent below that of January...