The chief executives of commodity trader Wilmar International and Perennial Real Estate are leading a group of investors in setting up a property joint venture with a target capital base of S$500 million. Wilmar CEO Kuok Khoon Hong will hold a 49.5-per-cent stake in the joint venture - named Perennial Real Estate Holdings, while Perennial Real Estate CEO Pua Seck Guan will take up a 20-per-cent...
General
The pace of China's economic growth has eased markedly but investment interest in the country, especially in second-tier cities such as Chengdu, by investors from Singapore appears to have waned little. Take Frasers Hospitality, the serviced apartment arm of conglomerate, Fraser & Neave, for instance. It is already looking for a second and perhaps even a third property following the official opening...
Property giant UOL Group has put out its first mixed-use development for sale in 2012. Some 70 per cent of residential units in Katong Regency were booked on its launch. Of these, the sale of about 130 units have been confirmed. Buying momentum of new private homes seems unabated as seen at the latest property launch of Katong Regency, with buyers out in full force despite it being a weekday...
Mapletree Logistics Trust (MLT) said its distribution per unit rose 9.7 per cent to 1.70 cents on-year for the January to March period. In a stock exchange filing, the trust said this was supported by earnings from the four properties acquired in the past 15 months and growth from its existing portfolio. Net property income for the quarter rose 12.3 per cent to S$61.4 million. Meanwhile, property...
The Urban Redevelopment Authority (URA) launched on Thursday the industrial site at Kaki Bukit Road 5 for sale by public tender. This is the third site out of the 16 industrial sites to be released for sale under the Confirmed List of the First Half 2012 Industrial Government Land Sales Programme. The remaining 13 sites will be progressively released for sale in the first half of this year. The land...
CapitaMalls Asia (CMA) has unveiled details about the S$38 million makeover for its mall Bugis+, which was formerly known as Iluma. CMA had acquired the mall in April 2011. With the revamp, CMA says shoppers can look forward to new fashion tenants, including UNIQLO -- which will open its largest store in Singapore at close to 20,000 square feet -- and a standalone MANGO TOUCH store. The mall will also...
Green Lodge, a freehold property at Toh Tuck Road, has been put up for collective sale with an indicative price of S$195 million. Property consulting firm DTZ Debenham Tie Leung (SEA) is conducting the tender exercise for the sale, which will close on May 15 at 3pm. Green Lodge can be developed into a five-storey condominium development at a gross plot ratio of 1.4. It sits on a land area of about...
The Urban Redevelopment Authority (URA) has announced changes to the Housing Developers Rules (HDR) that will take effect from 18 May 2012. The changes will enhance transparency in the real estate industry and enable home-buyers to make better informed decisions when buying a home. Among the changes, developers will have to provide more information on the housing project and property to a home-buyer...
Singapore-listed SC Global Development has unveiled plans for its luxury residences at Ardmore Park, near Orchard Road. In a filing with the Singapore Exchange, SC Global said Sculptura Ardmore, a 36-storey freehold development, offers privacy and exclusivity with just 35 apartments. The developer said it will comprise 4-bedroom apartments ranging from between 2,800 to 4,000 square feet, and some of the...
The tender for the hotel site at Rangoon Road/Farrer Park Station Road, near Little India district, has attracted 10 bids, according to the Urban Redevelopment Authority (URA). The top bid of S$151 million was jointly placed by RB Capital Robertson City and RB Capital Farrer. That works out to about S$11,612 per square metre of Gross Floor Area. URA said the remaining bids for the 99-year leasehold site...