The Housing and Development Board (HDB) saw its deficit in the last financial year more than double to S$1.973 billion as it stepped up the building of homes. According to HDB’s annual report, its overall net deficit for the last financial year – from April 2013 to March 2014 – was S$1.973 billion before Government grants, up from S$797 million the previous year. Its home ownership segment...
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JTC Corporation (JTC) said on Tuesday (Dec 16) that it will offer two sites in Tuas for sale by public tender. The first site, which is on JTC's Confirmed List, is a 0.8-hectare piece of land at Tuas South Street 11 that had been zoned for Business-2 development. The site has a 20-year five-month tenure with a maximum permissible gross plot ratio of 1.0. The tender closes on Feb 10, 2015. Mr...
CITY Developments Limited (CDL) has come up with a novel way of monetising its Sentosa Cove assets in a soft property market, even as it anticipates more overseas acquisitions over the next few years. The Singapore-based developer cobbled together a club deal with US investment giant Blackstone and Malaysia's CIMB Bank, which along with senior bank loans, amount to S$1.5 billion. Through a complex...
The Total Debt Servicing Ratio was introduced in late Jun 2013, but it was in the fourth quarter of the year that private home prices registered the first drop in almost two years. Since then, it has been on a downward trend and property watchers expect prices to continue falling in 2015 amid weakening demand and a large oncoming supply. Including executive condominiums, official estimates put the...
United States investment giant Blackstone and Malaysia's CIMB Bank will invest in three Sentosa Cove properties owned by City Developments (CDL), including the W Singapore hotel, in a complex transaction valued at S$1.5 billion. The investment in the Quayside Collection – comprising the W hotel, the Quayside Isle retail complex and the Residences at W Singapore – will be via an investment instrument...
Applications have opened for The Amore, an executive condominium (EC) project at Punggol Central. It is the last EC on the market without a resale levy and the deadline for applications is next Sunday (Dec 21). The 395-unit EC project is expected to be completed in 2018. It is selling at S$780 to S$800 per square foot. Some analysts Channel NewsAsia spoke to say property cooling measures have also...
Peace Centre and Peace Mansion on Sophia Road were put up for sale on Monday (Dec 15) with an indicative price of approximately S$680 million, according to Colliers International, the property consultant that launched the sale. The property on 1 Sophia Road sits on a 76,617-square-foot site that has a 99-year leasehold tenure that commenced on Jun 2, 1970. The subject site is zoned for commercial use,...
The Singapore Land Authority has released a new site to be developed into a sports facility, and sports enthusiasts can look forward to a new futsal court or baseball batting area. The site is situated underneath a flyover at Jurong Hill. It spans slightly more than 5,900 square metres, with a monthly rental of about S$3,900. The site is up for tender on a three-year lease and interested bidders have to...
Sales of executive condominiums (ECs) rose sharply in November even as other transactions in other forms of private property slowed, according to Urban Redevelopment Authority (URA) data released on Monday (Dec 15). A total of 1,758 ECs were launched last month, with 855 units sold. This marked a significant turnaround from October, when 90 ECs were sold with no new units launched. EC projects were...
There has been a sharp jump in the number of residential properties put up for sale by mortgagees. According to property consultancy Colliers International, the total number so far this year is 123, a seven-fold jump from just 17 in 2013. Non-landed units accounted for 65.4 per cent of private homes in the mortgagee listings. These included condominiums in prime areas such as Marina Bay and Sentosa...