Singapore will have two new MRT lines, while three existing lines will be extended. These will double the rail network stretch to 360 kilometres, compared with the current 178 kilometres. By then, eight in 10 households will have a train station within a 10-minute walk, compared with about six in 10 currently. These plans for the rail network followed a review of the Land Transport Master Plan by the...
General
Q Bay Residences at Tampines is the first private residential project to be launched since the latest round of property cooling measures kicked in last weekend. To attract buyers, the developer is offering discounts of up to 22 per cent. Market experts said Q Bay Residences will be a test of home buyers' appetite for new developments The 630-unit project, which is a joint venture by Frasers Centrepoint,...
The outlook for the en bloc market has become bleak in the aftermath of the latest round of cooling measures, according to experts. “I think these measures caught everyone by surprise. For en bloc developers, the first couple of months will show more subdued dealing of land parcels. If developers are not confident to sell, they will not bid aggressively,” said Ian Loh, Head of Investment at Knight...
Singapore's construction demand is expected to remain strong in 2013, fuelled by public sector projects. The Building and Construction Authority (BCA) is projecting a construction demand of between S$26 billion and S$32 billion for 2013. This comes after the industry reported S$28 billion worth of contracts awarded in 2012. BCA said the public sector will contribute to 53 per cent of the industry demand...
Shares of property developer SC Global that are freely traded on the Singapore Exchange (SGX) have dropped to 9.64 per cent of the firm's issued shares. This has triggered a voluntary unconditional cash offer by its majority shareholder, SC Global chairman Simon Cheong. Based on Singapore law, the majority shareholder can force the delisting of a firm once the public float falls below 10 per cent. Mr...
Urban Vista - a new condominium being designed with style, coupled with SOHO units with high work space ceiling height and the immerse flexibility of Dual-Keys units for own stay and investment. Situated right next to the Tanah Merah MRT Interchange, the development is only a station away from the upcoming fourth university (SUTD), Changi International Business Park and 2 stations from Changi...
Despite the regional economic uncertainty, the Pan Pacific Hotels Group is betting that Singapore's tourism and hospitality industry will remain robust this year, with big expansion plans after a period of relative quiet. The newest addition to the group's Singapore portfolio, the upper upscale Parkroyal on Pickering hotel opens its doors today after about four years of construction. While it will likely...
Singapore’s sweeping package of property cooling measures to curb rising home prices not only applies to foreigners buying properties in the city-state, but has gone one step further to include permanent residents (PRs) and citizens. Introduced last Friday, this is the government’s seventh round of measures since 2009 and includes a stamp duty hike of between five and seven percent across the board,...
Q Bay Residences - the first private condominium to have the balinese chalet-style villa that comes with fully fitted facilities with adjacent spa pools which visitors can book to stay overnight when they visit their family or friends staying in the development. All the residential towers are exquisitely design and layout in such a way whereby they are separated by lush landscaping, spa pools and water...
Ascendas Real Estate Investment Trust (A-REIT) has reported a 4.0 per cent on-year increase in distribution per unit (DPU) to 3.62 cents for its third quarter ended 31 December 2012. The amount available for distribution increased 11.9 per cent to S$81.1 million in the quarter under review. In a filing on the Singapore Exchange, A-REIT said it recorded positive rental reversion of between 5.5 per cent...