Singapore's office vacancy rates are expected to rise further across all grades and micro markets, with a peak expected in 2013, according to property consultant CB Richard Ellis (CBRE). Island-wide vacancy in Singapore increased to 7.3 per cent in Q1 2012. Vacant stock island-wide totalled 3.8 million sf. In Core CBD, the vacancy rate grew to 9.30 per cent from 8.80 per cent in Q4 2011. Going forward,...
General
Drawing on its experience as a world leader in serviced residences, Frasers Hospitality Pte Ltd (Frasers) today unveiled its new brand, Capri by Fraser, the latest addition to its portfolio, which will include more than 73 properties in 39 cities worldwide within the next three years. Designed to meet the lifestyle needs of the digital generation, Capri by Fraser cuts through the conformity of typical...
CapitaMalls Asia and Sime Darby Property will jointly develop a shopping mall in Klang Valley, Malaysia. The companies said they have entered into a conditional agreement to form a 50-50 joint venture to develop the mall on a freehold site in Taman Melawati. The total development cost is expected to be about RM500 million (S$204.5 million). Upon completion. the mall will have a total net lettable area of...
Located along River Valley Road, Stellar RV is an interesting, modern iconic deisgned project that is set to stand out among other property developments along River Valley Road. Conveniently located opposite various excellent eateries and cafes, Stellar RV is also just a short drive away to Orchard Road and the Central Business District. Location: 408 River Valley Road (District 9) Tenure: Freehold Year...
Prospects of higher investment yields are driving demand and prices of industrial properties. The robust economic growth since the rebound from the US debt crisis in 2008 has generated a lot more economic activity. This has boosted demand for industrial space in Singapore in the last two years. Latest URA data shows industrial property prices have bucked the general downtrend and grew by 7.2 per cent in...
The proposed acquisition of Pandan Logistics Hub from CWT Limited is expected to boost Cache Logistics Trust's total assets under management to S$944 million. In a statement, ARA-CWT Trust Management Limited, manager of Cache Logistics Trust, said the acquisition is the largest that Cache has made to date. Cache has proposed to acquire Pandan Logistics Hub from CWT for S$66 million. On completion of the...
The seeds of the next financial crisis could be sown even before the current one is completely over. That's the warning from some experts at a conference on asset price bubbles in Singapore at the Singapore Management University. However, they noted that crisis could be averted, if central banks did a better job of communicating their policy stance to the market. Property price bubbles are in part...
Approximately 325 new private homes were sold over the past week, amid property launches and rock bottom interest rates. 67 units were sold at Far East Organization’s 338-unit SeaHill in West Coast Link, taking total sales to 185 units since it was launched last month. Homes at the 99-year leasehold project were sold for an average of S$1,329 psf. Far East also saw 34 more units taken up at the Hillsta...
The robust economic growth since the global financial crisis in 2008 has boosted demand for industrial space in Singapore in the last two years. Some analysts say the industrial property segment has been a star performer with capital values going up by an average of 23 per cent since 2010. And prospects of higher investment yields are driving demand and prices of industrial properties. Data released by...
The total value of new non-landed homes sold decreased by 21.7 per cent in 2011 compared to 2010 though the number of units sold dropped only 2.3 per cent, according to real estate consultancy CBRE. 13,611 caveats for non-landed homes amounting to some S$16.6 billion were lodged last year, compared to 13,933 caveats worth S$21.2 billion in 2010. CBRE attributes this to the robust sale of shoebox units....