Investment holding company Rowsley Ltd, which is controlled by former "Remisier King" Peter Lim, plans to transform itself into a property play in a S$581-million deal which will also see leading architectural firm RSP Architects Planners & Engineers absorbed into the company and getting a backdoor listing. The term sheets of the all-share deal are non-binding and subject to due diligence and further...
General
Prime area rent for shopping malls and retailers in Orchard Road inched down 0.28 per cent this quarter, compared to the previous quarter. In a report by Savills World Research, average monthly rent in prime areas in Orchard Road were S$35.1 per square foot in the fourth quarter. This is a slight drop from the S$35.2 per square foot in Q3. Analysts felt that this is due to adjustments in the market, as...
Despite six rounds of cooling measures in the last couple of years, the private property market continued its uptrend unabated in 2012. Although data for December is yet to be out, but both sales volume and prices of new private homes have already surpassed previous highs. In the past two years, the Yaps have bought four private properties, three of which were in 2011. They hold to the view that...
As we approach the end of the year, analysts' property market forecasts for 2013 and beyond are coming in thick and fast. From the reports I have read, it is quite a mixed bag - some are negative while others are mildly positive. The forecasts in themselves are not really as important as the reasons cited to back them up. The reason I say this is that given the uncertain and abnormal global environment, I...
All 653 units of the Forestville Executive Condominium located at Woodlands Avenue 5/Woodlands Drive 16 will be open for e-application from today until Dec 26. The project, conceptualised by MCC Land, comprises 14 blocks of 13-storey apartments, with 22 two-room, 294 three-room, 96 three-room dual-key, 83 four-room, 93 four-room dual-key, 24 five-room units and 12 five-room dual-key. There will also be 29...
With higher incomes, buyers will likely create more demand for executive condominiums (ECs), according to a report by DTZ. As of Q3 2012, there were 6,500 EC units for sale. This is in addition to the 3,100 units expected to be delivered under the confirmed list of the 1H2013 Government Land Sales (GLS) Programme. Demand is expected to match supply with a larger pool of buyers following the recent...
The Building and Construction Authority (BCA) has inked a partnership with US-based Lawrence Berkeley National Laboratory to build a facility for test-bedding green building technologies. BCA said the collaboration, signed last month, is pivotal to developing new innovations and solutions for greater energy efficiency of buildings in Singapore. The new facility will be built at the BCA Academy. It will...
Two 99-year leasehold residential sites released under the Government Land Sales (GLS) Programme this month are expected to receive healthy interest from developers, with seven to nine bids due to their strategic locations, said Knight Frank Singapore. Located at Commonwealth Avenue and New Upper Changi Road/Bedok South Avenue 3 (Parcel B), the sites are just next to Queenstown and Tanah Merah MRT...
With the global residential market expecting a brighter outlook in 2013, some international property hotspots are beginning to emerge. In a recent report in My Paper, property analysts recommended several destinations that could provide lucrative investments to Singaporeans. First on the list is London, UK, regarded as a safe haven for property investment despite the decline in prices in past years....
The Singapore government has set aside nearly 25 hectares of industrial land for the first half of 2013, according to the Industrial Government Land Sales Programme (GLS) released by the Ministry of Trade & Industry (MTI) on Wednesday. A new regulation by the government now requires developers to build a minimum number of large factory units. This applies to four large land plots with a site area of...