The Monetary Authority of Singapore is looking into recent property listings that appeared on the website of United Overseas Bank, the Dow Jones news agency reported on Thursday. The move comes after local media reported earlier this week that property listings had appeared on the website of UOB, Singapore's third-largest bank by assets. The MAS did not elaborate if the action contravened any local...
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The Urban Redevelopment Authority (URA) closed the tender for the residential with 1st storey commercial site at Tai Thong Crescent today after receiving a total of 8 bids. The highest bidder for the 99-year lease site is Verwood Holdings Pte. Ltd. and Intrepid Investments Pte. Ltd at S$245 million. The site at Tai Thong Crescent was launched for sale by public tender on 30 July 2012. It was originally...
Shopping mall developer CapitaMalls Asia is acquiring its third mall in Wuhan, China. On a completed basis, the investment cost of the shopping mall is expected to be about S$228.3 million (RMB1,156 million/HK$1,413.5 million) The developer had acquired the mall from a subsidiary of a state-owned construction enterprise, China Railway Construction Corporation Limited (CRCC). Scheduled to be completed in...
Developers with luxury residential projects seem to be delaying the launches and, in some cases, completions as they await the anticipated uptick in the high-end segment, according to a report in Straits Times. While homes in suburban areas are selling well at record high prices, sales volumes in the luxury sector is anaemic and prices are languishing over the past year. In a report by property...
Eleven properties were put up for sale at an auction held by Knight Frank Singapore last week, of which two were sold even before the event. The properties that changed hands are a 904 sq ft two-bedroom condominium unit and a retail space along Petir Road. The condo at Cube 8 is currently under construction, with the temporary occupation period (TOP) set for 2014. On the other hand, the 538 sq ft shop on...
The government is capping the total number of units that can be built on a site for non-landed private residential developments outside the Central Area. This will take effect from November 4 when new guidelines issued by the Urban Redevelopment Authority (URA) take effect. The URA says the new guidelines will discourage developers from building new developments consisting mainly of shoebox units outside...
The Housing and Development Board (HDB) tender for the land parcel at Punggol Way/Punggol Walk for Executive Condominium Housing Development has attracted three bids at the close on Tuesday. The top bid came from Qingjian Realty (South Pacific) Group Pte Ltd at S$189.87 million or $3,375.86 per square metre. This works out to S$314 per square foot per plot ratio. The top bid was just 1 percent higher...
The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Farrer Road to Far East Soho Pte. Ltd. The company submitted the highest bid in the tender for the site at $45.777 million or $11,924.20 per square meter of gross floor area (GFA). With a land area about 0.27 ha, the residential site is expected to generate a GFA of about 3,839m². Tender for the 99-year lease...
With the Council for Estate Agencies (CEA) coming down hard on the industry, there is a growing need for real estate agents to protect themselves. As estate agents look to renew their license this month, many will also be updating their professional indemnity insurance to help safeguard their rights. “By taking up the right type of Real Estate Professional Indemnity Insurance coverage, it also takes...
It is that time of the year when many Chinese Singaporeans shy away from undertaking major projects or "risky" activities during the Hungry Ghost Festival. The festival, which occurs during the 7th month of the lunar calendar, has affected everything from renovation to marriages. But observers said the property market has not really been affected this year. Property analysts said new projects are still...