The Urban Redevelopment Authority (URA) launched the food & beverage site at Punggol Point for sale by public tender today. Punggol Point has been envisioned as a rustic coastal recreation destination with activities and attractions to enhance its unique waterfront location. With the opening of Punggol Promenade, Punggol Point Park and the North-Eastern Park Connector Network, Punggol Point today is a...
General
GLP J-REIT, a real estate investment trust set up by Singapore's Global Logistic Properties (GLP), will sell as much as ¥111 billion ($1.6 billion) worth of shares in its initial public offering in Japan, according to a regulatory filing yesterday. GLP, one of the world's largest warehouse operators, said last month it would sell shares in the REIT, which has 30 properties valued at US$2.6 billion (S$3.2...
Competition in the Executive Condominium (EC) market is likely to heat up, say analysts. Four EC sites have already been sold while bids for two sites have opened, indicating that at least six EC projects will be launched in 2013. Popular with developers, ECs like Heron Bay in Hougang which have five-bedroom units sell especially well. Less than a month after its launch last October, all 16 of its...
Mapletree Commercial Trust said yesterday it agreed to buy Mapletree Anson for S$680 million from a wholly-owned unit of its sponsor Mapletree Investments. Mapletree Anson, is a 19-storey premium office building in the CBD, with a 99-year lease beginning from October 2007. It has a gross floor area of 383,812 sq ft and net lettable area of 331,854 sq ft. Source : Today - 4 Dec...
Property developers expect land prices for private homes in Singapore to scale higher. This may add to their woes as they are already faced with increasing development costs and rising unsold units. Soon, all private homes in Singapore can no longer be called "mass market" developments. This according to the President of the Real Estate Developers' Association of Singapore (REDAS), Wong Heang Fine, who...
Analysts have attributed rising Executive Condominium (EC) prices to strong demand and rising quality of EC projects. Prices for ECs have risen by 10 to 20 per cent in the last two years, since the government re-introduced them to increase the supply of flats for middle-income home buyers. "We all recognise that Singaporeans are getting affluent and especially the young, they read a lot and they see a...
The Urban Redevelopment Authority (URA) has released the detailed sales conditions for the hotel site at Victoria Street/Ophir Road today. The land parcel at Victoria Street/Ophir Road is made available for application under the Reserve List of the 2nd half 2012 Government Land Sales (GLS) Programme. The land parcel is located near to the Ophir-Rochor Corridor, a new growth area envisioned to become an...
The signs are clear for all to see: Developers' appetite for sites has rebounded strongly. In addition to the land parcels made available on the Confirmed List of the Government Land Sales programme, more sites have been triggered from the Reserve List in recent months. Under the Reserve List, the tenders will only be launched when a developer submits an application committing to bid at a minimum price...
A residential site at Bishan Street 14 has attracted nine bids. The top bid of S$505.1 million came from Allamanda Residential Development, a wholly-owned subsidiary of property developer CapitaLand. That is about 3.1 per cent higher than the second bid jointly placed by Singland Homes, UOL Venture Investments, and ORIX Investment and Management. Analysts had expected CapitaLand to submit a strong bid...
The Ministry of National Development (MND) will find it hard deciding on land supply to be allocated for private housing projects in 1H2013, said property experts. It will have to balance several factors such as looming supply glut, record home sales, an economic slowdown and developers’ keen appetite for land. “The quandary the authorities will face is that in the short run, demand chases supply....