JTC Corporation launched the second stage of its two-stage tender on Thursday to engage an operator for Jurong Rock Caverns (JRC), Singapore's first underground hydrocarbon storage facility. JTC said in a statement that phase one of the project on Jurong Island, which comprises five caverns, will be completed in stages between 2013 and 2014. It aims to appoint an operator by mid-2013, which will be given...
General
Authorities have announced plans to raise the cash bonuses of two housing monetisation schemes for the elderly in response to public feedback. The latest changes to the Silver Housing Bonus (SHB) and Lease Buyback Scheme (LBS) will see households having to put less of their flat's sale proceeds into their Central Provident Fund (CPF) accounts - a national pension scheme. They will in return receive more...
JTC Corporation (JTC) has launched the sale of three plots of industrial land -- one at Ubi Avenue and two at Tuas South -- by public tender. JTC said on Thursday that the three plots form the last batch of the 16 sites in the Confirmed List under the Industrial Government Land Sales (IGLS) for the second half of 2012. Measuring 0.35 hectares, the site at Ubi Avenue 4 has a lease term of 30 years and a...
The cash offer by property tycoon Simon Cheong to take his flagship company SC Global Developments private is "fair and reasonable". That is the view of the independent directors of the luxury property development firm after taking into account recommendations from an independent financial advisor (IFA). In a company circular to shareholders on Wednesday, the independent directors recommended that...
Prices of industrial properties in Singapore have risen by some 27 per cent in the first three quarters of 2012. Some analysts say prices could climb by 30 per cent for the entire year, one of the highest in recent years. They attribute the increase to buoyant demand for strata-titled industrial premises. Low interest rates, high liquidity and cooling measures in the residential property segment have...
Property consultancy firm Colliers International has recommended the development of a "retirement village" for the growing population of senior citizens in Singapore. It has also suggested that a ratio/quota system be implemented to allocate Build-to-Order (BTO) flats to singles. Colliers said these are two groups within the larger population that have become significantly prominent over the last 12...
The Ascott, CapitaLand's wholly-owned serviced residence business unit, is strengthening its market presence in China. In a filing to the Singapore Exchange, the firm said it has secured contracts to manage three properties with more than 500 apartment units in China. The 90-unit Ascott Heng Shan Shanghai is scheduled to open in 2014. Meanwhile, two serviced apartments in Suzhou - the 250-unit Ascott...
The Ministry of National Development (MND) will spend about S$29 million over the next two years to upgrade and develop the infrastructure in private estates. Eight private estates have been selected - Goldhill, Mayflower Gardens and Yio Chu Kang Gardens, Cashew and Hazel Park Terrace, Greenleaf, Bartley Neighbourhood, Carmichael, Haig Road, and Limau. The Ministry said these are the older private...
The much-anticipated Echelon condominium project (pictured) by City Developments Limited (CDL) will commence sales later this week, reported The Business Times. Located along Alexandra Road, the 43-storey 99-year leasehold development will reportedly sell units at an average price of “S$1,700 psf plus”, said sources. The report added that about 30 to 50 percent of the 508 units will be released on...
Forestville, the latest executive condominium (EC) project at Woodlands, has seen strong demand from eligible home buyers since electronic applications opened on December 21. Close to 800 e-applications have been received over the weekend for the 653-unit Forestville EC project. The e-applications will be open until 10pm on December 26. Balloting will be carried out on 28 December. Hao Yuan Investment...