A government tender for a commercial site in the Woodlands Regional Centre drew strong response, with a consortium that included Far East Organization submitting the highest bid of S$634 million, the Urban Redevelopment Authority (URA) said on Tuesday. The bid by the consortium comprising Far East Organization, Tannery Holdings and Sekisui House for the Woodlands Square site works out to around S$906...
General
Rents for factories, warehouses and other industrial spaces in Singapore fell slightly during the first quarter of 2014 as firms became more cautious about expansion, Colliers International said on Tuesday. The real estate consultancy estimated that rents for ground floor factory and warehouse space fell 0.8 per cent in the first quarter from the last three months of 2013. For upper floor units, the...
Tuas West will be the most viable location for the proposed high-speed rail terminal in Singapore, say experts. This is due to its proximity to Malaysia and greater availability of space. On Monday, Prime Minister Lee Hsien Loong named three possible locations -- Tuas West, Jurong East and the city centre -- for the terminal of the planned high-speed rail link between Singapore and Kuala...
Changi City Point at Changi Business Park looks set to become the next shopping mall to be acquired by a real estate investment trust. Frasers Centrepoint Trust (FCT) said on Tuesday it has entered into a conditional sale and purchase agreement to buy Changi City Point from Ascendas Frasers Pte Ltd for S$305 million. Ascendas Frasers is a 50-50 joint venture between Ascendas Development and Frasers...
HDB resale prices rose slightly by 0.3 per cent in March compared to February, according to a flash report by the Singapore Real Estate Exchange (SRX). The increase is led by smaller flats -- 3-room flats rose 0.5 per cent and 4-room flats rose by 0.8 per cent. But prices of bigger flats -- both 5-room and executive flats -- continued to soften by 0.2 per cent and 0.7 per cent respectively. On a...
Newly-released government flash estimates for housing prices in the first three months of the year show that they have continued their downward trend. Private home prices fell a further 1.3 per cent from the previous quarter, while Housing and Development Board resale prices sank another 1.5 per cent. The downtrend was no surprise, as updates from other real estate bodies providing monthly data have...
The number of private-home completions in Hong Kong this year will reach its highest since 2004, said the government yesterday, further pressuring developers after a series of cooling measures forced them to cut prices. The number of flats forecast for completion this year is around 17,610 — a 113 per cent increase from a year earlier, said the Rating and Valuation Department. The government said...
Private residential property prices have been subdued, following cooling measures by the government last year. Overall, they are expected to remain muted this year. But some analysts have said prices of private homes in the city fringe could start picking up soon. This is due to new project launches in attractive locations like Commonwealth Avenue, Kim Tian Road and Prince Charles...
A new warehouse retail store, Big Box, is set to open soon in Jurong East. Warehouse retailing in Singapore was initiated by the Economic Development Board in 2004, through the 'Warehouse Retail Scheme'. The pilot programme was discontinued after three years, as new government schemes to support productivity improvements were introduced soon after, but it has allowed the likes of Ikea and Courts to...
Over 40 per cent of the retail mall at the Capitol Singapore integrated development has been committed so far, ahead of its opening at the end of the year. At its topping out ceremony on Thursday, developer Capitol Investment Holdings said the mall will have new-to-market brands and new concepts -- which will be announced at a later date. Capitol Investment Holdings is a joint venture company,...