Singapore Press Holdings (SPH), the newspaper publisher that owns Paragon shopping mall on Orchard Road, has tapped Credit Suisse and DBS Group to manage a listing of its property assets in an initial public offering (IPO) of as much as S$1 billion, according to people with knowledge of the matter. The IPO could take place as soon as the third quarter of this year, said two sources, who asked not to be...
General
The first quarter of the year is traditionally a quiet period for the industrial property market. However, market sentiment seems a little different this year. Data from Knight Frank shows that sales volume of strata-titled factory space in the first quarter this year is 26.5 per cent lower than the same period last year. Knight Frank's latest report analysed caveats lodged up till March...
Some property developers are turning to commercial and mixed development projects to make up for the weak en bloc market. This comes as transacted deals for the first quarter of 2013 dropped by 20 per cent to S$360 million, compared to the same quarter in 2012. Real estate services firm Jones Lang LaSalle says some 50 en bloc deals amounting to S$3.2 billion were transacted in 2011, and 26 deals at...
Park Hotel Group has agreed to sell Park Hotel Clarke Quay to Ascendas Hospitality Trust for S$300 million. The hotel is located in the Clarke Quay area, started operations in 2009. The hotel has 336 guest rooms and suites. Source : Channel NewsAsia – 8 Apr...
First-time home buyers have been propping up demand in the local property market. They are not affected by the latest cooling measures implemented in January since they belong to the group without a mortgage loan. 24-year-old Travis Ye became a condo owner for the first time in September last year, when his parents put down a 30 per cent downpayment for his S$1.4 million condominium at eCo. That's...
After more than 10 years pushing to get their estate privatised, residents of Shunfu HUDC estate finally won the day. The government has given it the green light to turn private. Attempts started as early as 2001, but it was only in 2008 that the effort gained momentum, with the necessary 75 per cent of residents agreeing to privatisation. There was a small notice on the lift landing... with big news...
Prices of private resale homes dropped 1.4 per cent in February from January, after rising 0.8 per cent month-on-month in January. This is according to the latest Singapore Residential Price Index (SRPI), which tracks prices of completed private apartments and condominiums. The weaker SRPI data from the Institute of Real Estate Studies at the National University of Singapore (NUS) comes in the wake of...
JTC Corporation (JTC) has launched the sale of a plot of industrial land at Loyang Way by public tender on Thursday. JTC said the site has a land area of 20,633 square metres, and is zoned for Business-2 development. This means the plot can be used for industry and warehouse purposes. The land parcel has a tenure of 30 years and gross plot ratio of 2.5. Developers have up to 84 months to complete...
To provide developers and home-buyers with more choices for private housing, the Urban Redevelopment Authority (URA) and Housing & Development Board (HDB) will be releasing three residential sites for sale in March 2013 under the Government Land Sales Programme (GLS) for 1st half 2013 (1H2013). Together, these three sites can yield about 845 residential units. An executive condominium site at...
Four- and five-room flats in Punggol look to be the most heavily subscribed among first-time home buyers in this month's Build-To-Order exercise which closes at midnight. A total of 3,898 flats were launched in this month's Build-To-Order exercise. They are all in non-mature estates of Sengkang, Punggol and Bukit Batok. Analysts say this may be one reason why there has been a small dip in the overall...