The Population White Paper released earlier this year drew public ire with its projection that the population in Singapore could reach 6.9 million by 2030, a figure that most agree would put a tighter squeeze on resources in an already crowded city. While it brought demographic challenges into the spotlight, the White Paper stoked an underlying concern which resonated among many Singaporeans: The price...
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Private equity firm Northstar Group, which has led a management buyout of the ERA Real Estate franchise here, said yesterday it aims to list the property brokerage on the Singapore Exchange within the next two to three years, moves that signal growing interest in the city’s real estate market. If successful, it would be the first listing by a real estate brokerage in the city, a spokesperson from the...
Singapore's second-largest developer City Developments (CDL) said it is not looking to put in top-dollar bids on land tenders just to grow its land bank in Singapore. This is due to the so-called "qualifying certificate", which requires developers of high-end residential projects to sell their new homes within two years. CDL's Executive Chairman Kwek Leng Beng said: “It will be suicidal to keep on...
Singapore developer Soilbuild Group Holdings launched yesterday a S$457.5 million initial public offering of its business space assets, pricing its units at S$0.78 apiece, the lower end of its indicative range. The IPO comes two weeks after two real estate investment trusts had somewhat mixed fortunes on their debut, with SPH REIT gaining 9 per cent but OUE Hospitality Trust ending flat. Soilbuild...
The overall cash premium, or Cash-Over-Valuation (COV), that buyers pay for HDB resale flats has dropped to its lowest in about two and a half years. This is according to data from major property agencies compiled by the Singapore Real Estate Exchange (SRX) released today (Aug 7). Overall HDB COV dropped S$4,000 in July from June to reach S$20,000 — the lowest since January 2011. This is compared...
Buying land at the prevailing high prices would be “suicidal”, City Developments (CDL) Executive Chairman Kwek Leng Beng said yesterday, as he forecast private home prices to decline 5 per cent over the next year, with the Government’s cooling measures working their way through the market. Under the law, developers with any foreign ownership — including most of the publicly-listed ones — are...
The Glades – a highly anticipated new launch by Keppel Land and China Vanke is located just within minutes walk away from the Tanah Merah MRT station. The development is also connected seamlessly to other parts of Singapore via major expressways like the Pan Island Expressway (PIE), East Coast Parkway (ECP) expressway and Tampines Expressway (TPE). Surrounded by host of retails and service amenities and...
The supply of retail mall space in Jurong has almost doubled from the second quarter of last year with the opening of the new shopping mall JEM in June this year. The retail mall space jumped by 573,600 square feet in June, to nearly 1.2 million square feet. Including the IMM Building and JCube, retail mall space in Jurong had amounted to 613,000 square feet in terms of net lettable area at the...
National Development Minister Khaw Boon Wan said new ground has been broken with the Housing & Development Board's (HDB) July's Build-To-Order (BTO) exercise where eligible singles can buy new two-room HDB flats in non-mature estates. In a blog post, Mr Khaw said the policy change was initially met with scepticism, with many predicting a lukewarm response. Mr Khaw said HDB expects to receive more...
The Tembusu – an exclusive residence that is the perfect synergy of exquisite living, convenience and modern ambiance. The project is just minutes away to Kovan MRT station. Residents will find it a breeze to zip around with well-connected roads and easy access to three major expressways – the TPE, CTE and PIE. Designed by multiple award-winning architects Arc Studio Architecture + Urbanism, the...