Singapore is set to see the launch of its largest initial public offering (IPO) for the year, with Ascendas Hospitality Trust lodging its preliminary prospectus with the Monetary Authority of Singapore (MAS) to list on the SGX Mainboard. The trust, which comprises a real estate investment trust and a business trust, plans to sell between 506 million and 530 million stapled securities in its IPO to raise...
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CapitaLand said it will buy an Orchard area property from its associate, Ascott REIT, for S$359 million. It will redevelop the property, Somerset Grand Cairnhill, into an integrated development comprising serviced residences (with hotel licence) and high-end residential properties. CapitaLand is expected to sell the redeveloped serviced residences (with hotel licence) back to Ascott REIT for S$405...
Property developers will launch some 8,000 new private homes over the next six months, according to analysts' estimates. While there are small risks of oversupply in the horizon, market watchers told Channel NewsAsia that private property prices should remain stable this year. A consortium comprising Hong Leong Group, City Developments and TID Residential won the tender for the site at Mount Vernon in...
Private home prices recovered to hit a new high in the second quarter, rising on the back of an increase in the prices of resale units rather than those at developer sales, a permutation that helps to allay concerns over the sustainability of the market. According to the Urban Redevelopment Authority's (URA) flash estimates, overall private residential property prices rose by 0.4 per cent in the second...
The Housing and Development Board (HDB) said the Holland Village car park Q82, when vacated, will be re-developed for residential or commercial use - depending on prevailing demands and market sentiments. Blocks 14 to 17, 22 and 23 in Holland Avenue/Drive selected for Selective En bloc Redevelopment Scheme (SERS) are pending demolition. But news that the 30-year-old car park will be closed had left some...
The World Cities Summit ended on a high note with landmark deals signed, record participation and a call for cities to focus more on integrated solutions. The event, held in Singapore from 1 to 4 July, brought together world leaders and key industry players. It served as a platform for them to address challenges and develop integrated solutions for sustainable cities. Executive director of the Centre...
Residential property purchases made by foreigners from countries exempted from ABSD (additional buyer’s stamp duty) rose in 1H2012, according to data released by CBRE. These foreign buyers, including permanent residents (PRs), hail from the US, Iceland, Liechtenstein, Switzerland and Norway – countries that have free trade agreements with Singapore. CBRE noted that the group accounted for 3.1 percent...
Malaysians have outpaced the Chinese as the top overseas buyers of Singapore properties, according to data compiled by the Urban Redevelopment Authority (URA) and CBRE Research. In 1H2012, Malaysians accounted for 27.6 percent of all foreign purchases, while buyers from China comprised 20.3 percent. In comparison, the Chinese took pole position in 2H2011 at 29.6 percent with Malaysia trailing at 18.7...
Cambridge Industrial Trust is acquiring the property at 30 Teban Gardens Crescent for S$41m from Eurosports Auto Pte Ltd. The property consists of (a) a 3-storey industrial building with a single storey factory cum car showroom and (b) a brand new annex block of a 2-storey showroom with ancillary office to be completed by the vendor. The total gross floor area of property to be acquired is expected to...
Since 2009, private homeowners in Singapore have greatly benefitted from the recovery in the property market. A report by Square Foot Research revealed that owners received at least S$20.3 billion in gross profit since late 2009 based on caveats data. This explains the strong sales figure of S$60.1 billion recorded during the period, noted the report. Square Foot added that actual figures could be a lot...