Jobs will be brought nearer to the homes to help ease the congestion in the city centre, with two new commercial belts. The government, which outlined these developments in its Land Use Plan, will also make it easier for people to use public transport. And, it hopes to see 75 per cent of all journeys made by public transport by 2030, compared with the current 60 per cent. The first new commercial belt is...
General
Singapore plans to increase its land supply by nearly 8 per cent to 76,600 hectares to accommodate its projected population of 6.9 million by 2030, according to the Land Use Plan report released on Thursday. Singapore's total land area now stands at 71,400 hectares. The details came just two days after the release of the White Paper on Population outlining Singapore's strategies for a sustainable...
The Republic’s office rents are set to rebound from their first annual decline in three years as new supply shrinks and more businesses expand, said CapitaCommercial Trust. Rents in the city are reaching a trough and demand may rise as the country positions itself as a regional business hub, said Ms Lynette Leong, Chief Executive Officer of CapitaCommercial Trust. Supply for the next three years will...
CDL Hospitality Trusts reported a 1.4 per cent on-year decline in income distributed per stapled security for the fourth quarter of 2012. CDL Hospitality Trusts, which is a stapled group comprising CDL Hospitality Real Estate Investment Trust and CDL Hospitality Business Trust, reported a fourth quarter distribution per unit of 2.9 cents. For the full financial year, income distributed per stapled...
Singapore's population could hit 6.9 million in 2030 - up from the current 5.3 million - if strategies outlined in the White Paper on Population to mitigate the country's ageing and shrinking population are met. The population projection also takes into account a lower GDP growth rate beyond 2020. The White Paper on Population, released on Tuesday, is the first comprehensive report to outline the...
The government has been ramping up housing supply in recent years, particularly in the north-eastern part of Singapore and some analysts said there is room for more commercial developments to meet the needs of the growing population. According to the Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB), a total of 44,868 residential units will be completed in Sengkang and...
Starhill Global REIT on Tuesday reported distribution per unit rose 11.9 per cent in the fourth quarter from the previous corresponding period, as its performance was boosted following the completion of asset enhancement work in Wisma Atria on Orchard Road. Distribution per unit for the three months ended Dec 31 amounted to 1.13 cents as income available for distribution rose 12.1 per cent to S$24.9...
A residential land site at Jurong West Street 41 attracted 12 bids at the close of tender by the Urban Redevelopment Authority (URA) on Tuesday. Property consultants said the high number of bids reflects the keen interest from developers. It also shows that developers' outlook on the property market has not been dampened by the recent property cooling measure announced earlier this month. Joseph Tan,...
The HDB has launched six Build-To-Order (BTO) projects where there will be a total of 3,346 new flats in three non-mature towns - Choa Chu Kang, Hougang and Yishun - and three mature towns - Ang Mo Kio, Kallang/Whampoa and Tampines. This is the first tranche of the 23,000 BTO flats which HDB has planned for 2013. Eligible first-timer households can enjoy up to S$60,000 of housing grants comprising...
Ascendas Hospitality Trust on Monday reported distribution per unit (DPU) of 1.77 cents for its fiscal third quarter, topping its own forecast by 4.7 per cent, as cost-cutting measures more than offset the lower-than-expected revenue. The 1.77 cents DPU takes into account the waiver of the sponsor’s distribution. Not accounting for the waiver, the DPU would have been 1.55 cents, or 5.6 per cent above...