The Housing and Development Board (HDB) will calculate its Resale Price Index (RPI) using a new methodology on its flash estimates of the fourth quarter of 2014, which are expected to be released in January next year. The RPI provides the general price trend of resale HDB flats, and was last revised in 2002. With the revision, the RPI will be calculated using a methodology that captures price...
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Shopping mall The Verge and its connecting block Chill @ The Verge located at the junction of Serangoon Road and Sungei Road are going up for sale, and the owners are expecting between S$320 million and S$350 million, real estate company JLL said in a news release on Tuesday (Dec 9). The Verge comprises a 6-storey shopping mall with two basement levels while Chill @ The Verge is an 8-storey building...
Global Logistic Properties (GLP) said on Monday (Dec 8) it is co-investing with Singapore sovereign wealth fund GIC to acquire a US logistics real estate portfolio for US$8.1 billion (S$10.7 billion). Singapore-listed GLP, which provides logistics facilities in China, Japan and Brazil, said in a statement it would initially hold a 55 per cent stake in the venture and GIC would take 45 per cent. However,...
For a second year in a row, HDB households will see reduced property taxes, the Inland Revenue Authority of Singapore (IRAS) said on Monday (Dec 8). The reduced property taxes kick in from Jan 1, 2015, and HDB residents will enjoy tax savings of between S$42 and S$54 for the year, compared to two years ago, IRAS said in a news release. IRAS said next year, the Annual Values (AVs) or estimated annual...
The Republic has been ranked ninth among cities in the region in terms of investment and development prospects for real estate next year. This is according to the latest Emerging Trends in Real Estate Asia Pacific 2015 - a study jointly released by the Urban Land Institute and PricewaterhouseCoopers (PwC). Singapore was ranked seventh a year ago. According to the report, the slip of two notches suggests...
The hotly anticipated initial public offering (IPO) of Keppel DC REIT was launched on Friday (Dec 5). The Reit will be managed by Keppel DC Reit Management, a wholly owned subsidiary of Keppel Telecommuncations and Transportation (Keppel T&T), which owns the data centres. Its final prospectus was registered with the Monetary Authority of Singapore in relation to its proposed listing on the Main Board,...
To provide home buyers with more choices for private housing, three sites that can yield about 1,500 homes will be released for sale under the second half of the Government Land Sales (GLS) Programme in 2015. A residential site at Jurong West St 41 was released for sale on Friday (Dec 5) by the Urban Redevelopment Authority (URA), while the Housing and Development Board (HDB) will launch an Executive...
Tenants at Red Dot Traffic must vacate their Maxwell Road home in 2015 - the Singapore Land Authority (SLA) has decided not to renew the building's lease after nine years. The Red Dot is a refurbished colonial building from the 1920s, and it houses bars, restaurants and offices, as well as the first contemporary design museum in Asia. SLA said the lease should have ended this October but will expire...
Qatar on Thursday lodged a "final offer" to buy the owner of London's landmark Canary Wharf office quarter for US$4.1 billion. Sovereign wealth fund Qatar Investment Authority and US group Brookfield Property Partners said in a statement they have increased their bid for Songbird, a property firm which controls 69 per cent of Canary Wharf Group. The cash bid, pitched at 350-pence per share, compared...
Nineteen land sites were launched for sale on Thursday (Dec 4) under the first half of the Government Land Sales (GLS) Programme for 2015. The 19 sites - six Confirmed List and 13 Reserve List sites - can collectively yield up to 8,770 private residential units once developed, the lowest in five years. These will include 1,010 executive condominium (EC) units and 265,000 square metres of gross floor...