A print media hub will be built at Paya Lebar iPark in Tai Seng Avenue to house print and digital media players all under one roof. To be built at a cost of more than S$27 million, the new five-storey facility, named Pixel Red, will be developed by mainboard-listed printing solutions provider Teckwah Industrial Corporation. While Teckwah will take up half of the 23,000-square-metre development for its...
General
One Dusun Residences is an iconic freehold mix development standing 29 storeys high, integrated with a 2-storey retail mall hosting a wide array of F&B outlets and retail shops. Located at 1 Jalan Dusun off Balestier Road, One Dusun Residences is easily accessible to expressways (CTE, PIE) & Novena MRT. It is within 5 minutes drive away to Novena & Orchard shopping belt which offers residents...
For the last three years, the trend in Singapore's residential property market has been virtually one-directional: Up. Despite the Government's repeated efforts to cool the market, home prices have remained resilient and recently hit new highs. It is not hard to see why. Population growth has been on an uptrend, there has been a housing shortage for years, and borrowing rates are currently low. I have...
The Housing & Development Board (HDB) has said it will take all measures to minimise inconvenience to residents while building new Build-To-Order (BTO) flats. Some residents in Ang Mo Kio have said they are upset that the government is launching a BTO project less than 50 metres away from their flat. HDB said it is not uncommon for HDB blocks or private apartments to be built within 50 metres from...
CDL Hospitality Trusts (CDLHT) has announced a 10.2 per cent increase in its second-quarter distribution per unit (DPU) to 2.92 cents, up from 2.65 cents in the same period last year. The trust said its gross revenue climbed 6.0 per cent to S$36.6 million, due mainly to higher revenue per available room (RevPAR) and strong growth in visitor arrivals. Its net property income rose by 5.9 per cent from...
Sentiment for the property development industry in Singapore has improved marginally in the second quarter. This according to the latest survey jointly developed by the Real Estate Developers' Association of Singapore (REDAS) and the NUS Department of Real Estate. According to the Real Estate Sentiment Index (RESI), the outlook for Singapore's real estate market is showing a modest improvement compared...
The Government's aggressive ramping up of the supply of Build-to-Order (BTO) flats has got at least one group of residents unhappy. At Ang Mo Kio St 52, some residents of a Design, Build and Sell Scheme (DBSS) project are upset over plans to build a BTO project less than 50 metres from their development. The new 710-unit BTO project is expected to be launched next month and the concerns of some of the...
Singapore's property cooling measures do not appear to have hurt the bottomline of property and hospitality group, Roxy-Pacific Holdings. Roxy-Pacific booked an 8 per cent rise in second quarter net profit to S$17.7 million, due partly to higher revenue from its property development business. Its market capitalisation leaped from S$190.97 million at listing, to S$410.6 million as of July 31,...
Overseas Union Enterprise posted a 13.3 per cent on-year increase in net profit to about S$22.8 million for the second quarter ended June 30, 2012. Revenue for Q2 was up by 33.8 per cent to some S$96.7 million, compared to the previous year. In a stock exchange filing, OUE said the increase in revenue was mainly driven by the hospitality and the property investment divisions. The hospitality division...
Real estate agency DTZ is inviting interested parties to participate in an expressions-of-interest exercise for an industrial property located at 745 Lorong 5 Toa Payoh. The four-storey light industry building has a 60-year tenure commencing January 19, 1970. It sits on a land area of 44,906 square feet, and has a gross floor area of 83,342 square feet. This site is zoned "Business 1" at plot ratio 2.5,...