Property consultants on Wednesday (June 18) said the office space market in Singapore could see a slight moderation in 2016, when some 4 million square feet of new supply come onstream. New office buildings are already taking a longer time to find tenants, they said, and this could push vacancy rates up in the Central Business District. According to analysts, the take-up rate in the Central Business...
General
Developers in Singapore have been cutting prices for some city fringe and suburban projects. Property watchers Channel NewsAsia spoke to say price cuts are likely to be done in a "very limited way" in the city area despite a lower take-up rate of new homes there over the past year. Developers have been launching fewer units in the city area. For instance, in the first five months of this year, 231...
Frasers Hospitality Trust (FHT) has priced its upcoming initial public offering (IPO) at S$0.88 per stapled security, giving investors who buy into the offer an indicative yield of 7 per cent per annum. According to a draft prospectus filed on the Monetary Authority of Singapore's (MAS) website on Monday (June 23), Frasers Hospitality will sell 182.1 million stapled securities at S$0.88 apiece in its...
Serviced residence operator Ascott has secured another four management agreements in China, the company said on Monday (June 23). Ascott, CapitaLand’s wholly-owned serviced residence business unit, said it will operate its first serviced residence in Taiyuan, the 170-unit Ascott Taiyuan, which is slated to open in 2018. It will also operate the 195-unit Ascott Riverside Garden Beijing and 342-unit...
Far East Orchard will soon have a new man at the helm. The property firm announced on Wednesday that Group CEO and Managing Director Lucas Chow will retire on September 1, 2014. Mr Chow, who is 61 years old, will be succeeded by Mr Lui Chong Chee, who has extensive financial and management leadership experience from major listed companies, including Raffles Medical Group and CapitaLand Group. Mr...
A commercial site along Paya Lebar Road that is expected to be launched for sale later this year could set the tone for the development of the Paya Lebar regional centre. That is according to some property analysts, who also say that any developer keen on the site may have to cough up more than a billion dollars, just in land cost alone. In October, the Government is expected to release a 4-hectare...
The private residential property market sprang to life in May after months of remaining in the doldrums, with developers’ sales surging 96 per cent as buyers snapped up units at the slew of new launches last month. Developers sold 1,470 new private homes last month, nearly doubling the 749 units that they moved in April, latest data by the Urban Redevelopment Authority (URA) showed on Monday (June...
While more developers have taken to cutting prices to improve sales amid a property slowdown, potential home buyers anticipating a broad-based price war may be disappointed as the private residential market has yet to reach a tipping point that could trigger such a situation. Analysts told TODAY that most developers are not in a rush to lower prices given that demand has yet to reach a standstill....
Despite lingering concerns about shrinking cost advantages and a lack of skilled labour in Iskandar Malaysia, the developers of a new industrial estate have said the special economic zone remains a compelling choice for Singapore companies to expand or relocate to amid land and manpower constraints at home. Nusajaya Tech Park will be the latest addition to the Iskandar economic infrastructure when its...
To further promote greenery in Singapore’s urban landscape, the Landscaping for Urban Spaces and High-Rises (LUSH) initiative has been expanded to cover more development types and geographical areas than its original scheme, the Urban Redevelopment Authority (URA) said yesterday. Termed LUSH 2.0, the enhanced programme includes additional incentives and regulations to encourage developers and building...