Singapore-listed Keppel Land is making its first foray into Sri Lanka with the signing of a conditional joint venture agreement with CT Properties, a leading property developer in Sri Lanka. The joint venture will develop a luxury condominium project with about 260 residential units in the affluent Kotahena district in Colombo, the commercial capital of Sri Lanka. In a statement released on Friday,...
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JTC Corporation has awarded the tender for an industrial site at Tai Seng Link to OKH (Woodlands) Pte Ltd. The company is a subsidiary of property developer OKH Holdings. OKH (Woodlands) put in the top bid of S$23.3 million out of the four bids received for the site. That's about 28 per cent higher than the second bid of S$18.2 million submitted by Soilbuild Group Holdings. Spanning 4,336 square...
The Urban Redevelopment Authority (URA), in collaboration with LASALLE College of the Arts (LASALLE), unveiled 10 student-designed benches along the Marina Bay waterfront promenade. This is part of the URA’s ongoing “My Marina Bay, My Inspiration” programme to encourage student and community groups to draw inspiration from Marina Bay and to translate it into creative designs for the area. Besides...
The debate over industrial property has been consistently grabbing the headlines in recent months. Earlier this month, a news report highlighted a gap in data for industrial property. Apparently, some transactions were not captured in the Urban Redevelopment Authority's Realis database due to incomplete information provided in the caveats lodged. As a result, they were not used in the compilation of...
Mainboard-listed Straits Trading Company has acquired the Rendezvous Grand Hotel Melbourne for S$79.3 million. The company said this latest acquisition will add to its Rendezvous Hospitality Group portfolio. It will also strengthen and expand its footprint in the Asia Pacific region amid growth in travel and tourism. Mr Eric Teng, Straits Trading's Chief Executive Officer (Property & Hospitality)...
The property market is expected to see demand rise over the next 12 months from deep-pocketed institutional buyers such as real estate investment trusts (REITs), which are starting to see more value in the local marketplace, analysts say. More REIT listings are also likely to spur acquisitions here. The proposed listing of Ascendas Hospitality Trust is set to be Singapore's largest initial public offering...
Wee Hur Holdings is set to launch the Parc Centros condominium, its largest residential development to date, in Punggol Central on July 21. The Singapore-listed property development and construction firm said Parc Centros will be the first condominium to offer five-bedroom apartments in the surrounding area of Punggol. The project comprises 618 units and is located near the Punggol MRT station. Wee Hur...
Credit Suisse said its recent survey found that majority of the respondents expect property prices in Singapore to continue to rise and more cooling measures to come. According to its inaugural proprietary housing survey, six in 10 home buyers believe that there'll be more cooling measures, with 40 per cent of them expecting measures to be introduced in the next 12 months. Credit Suisse noted that buyers...
Marina One, a landmark mixed-use development at Marina South, broke ground on Wednesday. M+S, a joint venture owned by Malaysia's Khazanah Nasional and Singapore's Temasek Holdings, says the development will provide commerce, high-end residences and retail spaces, and is on track to be completed by 2017. The 60:40 joint venture between Khazanah Nasional and Temasek came about after a landmark land...
Property prices here grew at a slower pace and sales fell in the second quarter as global stock markets weakened, but the risk of a bubble will remain as long as interest rates stay low, the city's Financial Secretary warned yesterday. Mr John Tsang told legislators that market sentiment had moderated in the past two months after a sharp rebound in February. In May, prices grew by less than 1 per cent and...