An industrial property at Enterprise Road in Jurong has been put for sale by tender. The asset consists a large single-storey factory - comprising warehouses, production and office areas. Exclusive agent for the deal Jones Lang LaSalle said the site has a built up area of about 62,500 square feet. It is located on a leasehold site of 109,164 square feet with a remaining term of 25 years. Meanwhile, the...
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Ascendas Real Estate Investment Trust (A-REIT) is acquiring The Galen, a property located in Singapore Science Park II, for S$126 million. The Galen is a six-storey multi-tenanted building, with net lettable area of 21,775 square meters. The building has an occupancy rate of about 97.5 percent. In a statement, A-REIT said it will be granted a land lease of 66 years for the property and expects to...
The increasing use of debt, or leverage, in Singapore Real Estate Investment Trust (S-Reit) funding mixes could pose risks to the sector, said Fitch Ratings. According to a report on the S-Reit sector by the ratings agency, these risks include refinancing risk and exposure to interest-rate shocks. Fitch added that "the competition for assets that results from the use of leverage will put downward...
Analysts have said that it's timely to rebuild multi-generational flats, in view of Singapore's changing demographics. Their comments follow National Development Minister Khaw Boon Wan's announcement that such flats may be built in Yishun, to test demand. The units at block 633, Yishun Street 61 built in 1987 are some of HDB's multi-generational flats rolled out in 1986. These flats, typically consist...
Sales of new private homes plummeted 65 per cent in February from the previous month, a drop which analysts ascribed to a “knee-jerk” reaction to the latest round of cooling measures and a lull in the market because of the Chinese New Year holiday. However, they said they expected volumes to rebound sharply this month as developers launch new projects with sweeteners to woo buyers — and, indeed,...
Sales of new private homes in Singapore fell sharply in February, due to the Lunar New Year holidays, fewer launches and the government's latest round of cooling measures. However, analysts said it is still too early to gauge the effectiveness of the cooling measures introduced earlier this year. According to data from the Urban Redevelopment Authority, 708 new units were sold during the month, down by...
The recently-published and hotly-debated Population White Paper highlights the key demographic, infrastructural and economic challenges facing Singapore over the next 20 to 30 years. Specifically, it tries to balance the tricky demographic–infrastructure equation. On one hand are Singapore’s persistently low birth rate and consequent need for an immigrant population; on the other are growing concerns...
Many singles have been waiting for months, some for years, but when it was finally announced that those among them aged 35 and above will soon be able to buy new flats directly from the Housing and Development Board (HDB), the details came as a big letdown. The singles have been eagerly awaiting the green light to buy three-room Build-To-Order (BTO) flats, if not larger ones. After all, the new three-room...
A new condominium, D'Nest, located at Pasir Ris Grove will be launched for preview sales on Friday. The 912-unit project is jointly developed by City Development Limited (CDL), Hong Leong Holdings and Hong Realty. In a statement, CDL said it is planning to sell the units at an average price of S$990 per square foot. However, it will be offering an early bird discount of 7 per cent on the launch price in...
National Development Minister Khaw Boon Wan said his ministry plans to see how it can come up with a new housing option which can be a lot cheaper than today's prices for Build-To-Order (BTO) flats. He said if such a low-cost housing option is offered, there must be restrictions to differentiate it from the existing BTO flats. Some restrictions proposed by a few MPs include a longer minimum occupation...