Green Lodge at Toh Tuck Road has been sold for S$191.888 million, becoming the biggest en bloc sale so far this year, according to The Business Times. Located off Jalan Jurong Kechil in Upper Bukit Timah, the property has a land area of 151,075 sq ft and could be developed into a five-storey condominium under the 2008 Master Plan. With a plot ratio of 1.4, the purchase price translates to S$907 psf...
General
Demand for new private homes fell in August after recording a strong rebound in July. According to data released by the Urban Redevelopment Authority (URA), 1,421 units of new homes were sold in August, excluding Executive Condominiums (ECs). This was a 27 per cent drop from July's sales. The best seller for August was One Dusun Residences in Balestier. Buyers snapped up 153 units of the 154 units...
Heron Bay, Singapore's first-ever deluxe executive condominium (EC) at Upper Serangoon attracted more than 1,000 visitors on its opening day for e-applications. Several young couples and families thronged the sales gallery of the 394-unit project in District 19. Developers said they had expected a high turnout rate as the EC offered several premium features including living rooms with private jacuzzis...
The Hong Kong Monetary Authority (HKMA) said yesterday it has ordered banks to toughen lending requirements for borrowers with more than one mortgage on residential property, in a bid to prevent the city from being flooded with "hot money" after the United States announced an aggressive new stimulus plan to spur growth. Hong Kong's de facto central bank also said it had restricted the maximum length for...
Singapore's Fraser and Neave has agreed to sell its 56.05 per cent stake in Frasers Property (China) for S$261 million to a unit of Shanghai-listed Gemdale Corporation, as it streamlines its property business in China. Source : Today - 14 Sep...
Real estate management firm ARA Asset Management (ARA) has received approval from the Singapore Exchange (SGX) to list a yuan-denominated real estate investment trust (REIT) in the city state. The Dynasty Real Estate Investment Trust (Dynasty REIT) will be the first share sale in Singapore to be denominated in the Chinese currency. It will also be the second initial public offering (IPO) denominated in...
Property group CapitaLand is raising capital by tapping into the US dollar bond market for the first time. The company said its subsidiary CapitaLand Treasury has successfully priced US$400 million fixed rate notes due 2022 at a coupon of 4.076 per cent on Friday. The fixed notes are part of the S$5 billion Euro Medium Term Note Programme (EMTN Programme) established on August 3. CapitaLand said in a...
A majority of Singaporeans responding to a poll in July said that they are looking to purchase residential property within the next six to 12 months, despite the uncertain economic environment and high prices. The latest Asia Property Market Sentiment Report, conducted by the iProperty Group, surveyed 25,754 people from Singapore, Malaysia, Indonesia and Hong Kong, of which 2,983 were from the...
Strata commercial property such as shops and offices have been extremely popular in the primary market this year and are expected to sustain buyer interest, even in the sub-sale market, as attention is increasingly diverted away from residential and industrial segments. Since the introduction of the seller's stamp duty for private residential purchases in January last year, investors have flocked into...
Hotel and serviced residence owner Far East Hospitality Trust aims to tap South-east Asia's booming tourism demand and grow its portfolio value by 50 per cent over the next two years. Far East Hospitality expects to acquire a hotel and two serviced residences - Orchard Parksuites and Orchard Scotts Residences - from its sponsor Far East Organisation within the next 24 months, increasing its portfolio by...