Baha Mar, the highly anticipated US$3.5 billion (S$4.48 billion) integrated destination resort currently being built in The Bahamas, will launch residential sales in Singapore this weekend, June 29 – July 1, 2012, at the Conrad Centennial. Singapore world travellers are invited to own a piece of the 400-hectare multi-property resort enclave, which will feature top hotel brands Rosewood Hotels &...
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The Urban Redevelopment Authority (URA) has released the detailed sales conditions for the hotel site at East Coast Road today. The land parcel at East Coast Road is made available for application under the Reserve List of the 1st half 2012 Government Land Sales (GLS) Programme. The land parcel is prominently located at the junction of East Coast Road and Joo Chiat Road, an area lined with conserved...
K-REIT Asia will acquire a 12.39 per cent interest in Ocean Financial Centre for S$228.4 million, raising its stake to 99.9 per cent. In a filing with the Singapore Exchange, K-REIT Asia said the acquisition wil be funded by bank borrowings and the issue of 60 million new units at S$1.17 per unit. The issue price translates to a 15 per cent premium to K-REIT's Monday closing price of S$1.02 per unit. The...
Asia's largest logistic facilities provider, Global Logistics Properties (GLP), has signed new leasing agreements totalling 44,000 square metres of its space in southern China. In a filing with the Singapore Exchange, the firm said the leases were for two of its facilities in Guangdong Province. Located along the Guangzhou-Dongguan-Shenzhen economic corridor, GLP Park Zengcheng leased out 30,000 sqm of...
Blocks 1A to 6A Woodlands Centre Road were on Monday identified for the Selective En bloc Redevelopment Scheme (SERS) by the Housing and Development Board (HDB). The Woodlands site, the 78th to benefit from SERS, comprises 147 flats that were completed in 1980. These flats will be 36 years old by the time the residents move to the new replacement flats at Woodlands Drive 70. HDB will build about 190...
CapitaLand President and Chief Executive Officer Liew Mun Leong will retire in a year's time when he turns 67, South-east Asia's biggest listed developer said yesterday. Mr Liew became chief executive of CapitaLand in 2000 after the company was created through the merger of Government-owned Pidemco Land and DBS Land. CapitaLand said a board succession committee would review the internal and external...
Residential property prices have been on an uptrend over the past two years, especially those of suburban condominiums and HDB resale flats. In mature estates, buying interest and prices have been strong due to established property fundamentals such as location, accessibility, town centre amenities and, in some cases, proximity to prominent educational institutions. However, the recent years have also...
Another unregistered estate agent has been sentenced. 48-year-old Lim Beng Kwang is the third unregistered salesperson to be sentenced this year under the Estate Agents Act. Lim was fined S$6,000 for holding himself out as a salesperson, when he was not registered with the Council for Estate Agencies (CEA). Another count of him doing estate agency business without a licence was taken into...
The Urban Redevelopment Authority (URA) closed the tender for the residential site at Farrer Drive today. The site at Farrer Drive was launched for sale by public tender on 24 May 2012. It was originally on the Reserve List of the Government Land Sales Programme. URA had, on 11 May 2012, accepted a successful application for the site to be put up for sale. The site was offered for sale on a 99-year...
Riding on the strata retail property boom, Griffin Real Estate Investment Holdings, a wholly-owned subsidiary of education group ERC Holdings, is launching units for sale at Bugis Cube this Saturday. Up to 91 strata units will be available at Bugis Cube, a six-storey, 999-year leasehold building at North Bridge Road. It is currently undergoing a multi-million-dollar retrofitting that is expected to be...