Budget hotels in Singapore are outpacing their five-star counterparts by a number of measures. They are being built at a greater pace, and they are also fuller. More are in the pipeline for 2013 and 2014, as demand for budget travel continues to grow. And with new attractions like the Marine Life Park at Resorts World Sentosa to attract visitors, industry players see positive outlook for the...
General
Towering 43 storeys high on the edge of the city centre, Echelon ascends as the peak of luxury in Alexandra/Redhill estate. Conveniently located within a minute walk to Redhill MRT station, Echelon offers its residences the ultimate ease of accessibility to all parts of Singapore. Perched admidst a horizon that displays a stunning greenery and city landscape, Echelon’s contemporary twin towers are...
The Republic is no longer the region's top destination for real estate investment and development opportunities, according to a report co-published by PricewaterhouseCoopers (PwC) and the Urban Land Institute (ULI). In the report, called Emerging Trends in Real Estate Asia Pacific 2013, the Republic fell to third place in the rankings, losing the top place it held for the last two years to Jakarta. "The...
Construction has begun on the plot of land opposite Parkway Parade, which will be redeveloped into a commercial and recreational hub. The space, once occupied by a golf driving range, is located at East Coast Park. National Parks (NParks) told MediaCorp on Wednesday that the development is expected to be ready by early 2014, and that the space will consist of over 10 F&B and retail outlets housed...
Executive Condominium project CityLife@Tampines has received over 1,600 applications from interested homebuyers, three times the total of number of units available at the development. The 514-unit project is developed by a consortium comprising Amara Holdings, Kay Lim Holdings and SingXpress Land. In a statement issued on Wednesday, the consortium said its dual-key units and larger-sized units drew the...
Property tycoon Simon Cheong is taking his flagship company SC Global Developments private and has made a cash offer of S$1.80 a share. The offer price values the luxury property developer, SC Global, at approximately S$745 million. It is also at a 49.4 percent premium to its last traded price of $1.205 on November 30. Mr Cheong currently holds a 55.06 percent stake in SC Global and plans to de-list the...
Singaporean billionaire investor Peter Lim plans to invest up to three billion ringgit more in Johor's Iskandar region over the next few years. He said he is currently looking at another one or two more projects in the area, but declined to disclose more details. Speaking at the sidelines of a press conference at the World Islamic Economic Forum in Johor Bahru, Mr Lim said his investments would be real...
The 99-year leasehold 'white site' with a minimum hotel component at Thomson Road/Irrawaddy Road received a total of 9 bids at the close of tender on Tuesday. A white site is a site in which a variety of uses are allowed. The developer will possess the flexibility to decide on the mix of uses and respective amount of floor space dedicated for each use, as long as the total allowed Gross Floor Area (GFA)...
The warehouse loft inspired development Martin No.38 by SC Global Developments has been conferred The Presidents Design Award 2012, Singapore’s most prestigious design award. This notable award is the development’s fourth major accolade since its completion earlier this year. In June, the development was awarded both the prestigious ‘Building of the Year Award’ and the top Design Award within the...
National Development Minister Khaw Boon Wan has spoken of the possible new uses and opportunities that lie underground in land-scarce Singapore. He said in his blog entry, "Going Underground", on Tuesday that he recently explored the Jurong Rock Caverns (JRC) with Mr S Iswaran, who's Minister in the Prime Minister's Office and Second Minister for Trade and Industry and Home Affairs. Mr Khaw described his...