Ascendas Real Estate Investment Trust said on Thursday it has completed the acquisition of four industrial properties in Singapore for a total cost of S$185.5 million. The properties - named Cintech 1 to 4 - are located at Singapore Science Park I in the island nation's south, and were paid for with cash from internal resources and the drawing down of existing debt facilities, the trust said in a...
General
Sky Habitat is designed by renowned international architect Moshe Safdie as a distinctive example of new urban living. Located on an 11,997 sq m site in the heart of Bishan Central, one of Singapore’s choice residential areas, the condominium will comprise approximately 500 apartments across two 38-storey towers. Moshe Safdie has introduced a strong and distinctive stepping form for the condominium,...
Sun Hung Kai Properties, Asia's biggest developer by market value, has suspended trading of its stock, pending the release of a statement that could be "price sensitive", the company said. The announcement came as local media reported that its billionaire co-chairmen Thomas and Raymond Kwok were asked to assist in an investigation by Hong Kong's anti-graft agency. The company also suspended trading of two...
rices of resale private homes are 0.8 per cent cheaper in February than in the previous month. This is according to the NUS Singapore Residential Price Index (SRPI ). Still, analysts expect overall prices to rise by between 0.5 and three per cent in the first quarter. Since January, the market for new private homes have been abuzz, with eight in 10 buyers being locals. In December last year, the...
Rental rates for shops in the prime Orchard/Scotts Road belt dropped in the first quarter from a year earlier, and will continue to slide in 2012, according to industry researcher, DTZ. It said an expected moderation in tourist arrivals, tighter labour supply and more properties coming on-stream will all act to soften the retail rental market. It forecasts rents will fall by two per cent to four per cent...
The Housing and Development Board (HDB) has tweaked its rules to discourage buyers who book a flat but subsequently cancel their booking, in a move designed to better protect the interests of serious home buyers. Such applicants who cancel their booking cannot, within one year from the date of cancellation, apply or be included as an essential occupier for a new HDB flat, DBSS (Design, Build and Sell...
The remaking of Paya Lebar Central is taking shape with the ground breaking of a new 13-storey commercial project, on Tuesday. Paya Lebar Central has been earmarked by the government for development as a commercial hub, under its 2008 Master Plan. At the ground breaking ceremony of Paya Lebar Square, its developer said 75 per cent of the office space has been committed. The S$1 billion development will...
The Housing and Development Board (HDB) will launch a bumper crop of 8,000 flats in Build-to-Order (BTO) and Sale of Balance Flats (SBF) exercises on Wednesday. The flats are in mature and non-mature estates, and cover a full range of flat types from three- to five-room flats. HDB is using the ramped-up supply of new flats to help other buyer groups, now that the queue of first-time flat applicants has...
Property developers and agents are venturing into other avenues of business, as the once booming resale market for private and public housing has been affected by the government’s tightening measures. According to estimates, the number of resale transactions in both markets dropped significantly in the first quarter compared to last year. However, the slowdown has spurred activity in other segments,...
Housing and Development Board (HDB) upgraders are facing challenges as they look to move into the private housing market, with cash-over-valuation (COV) figures falling amid a weakening resale market. The HDB has stopped providing overall COV figures for resale flats, but data released from PropNex Realty for February shows that average COVs fell between S$3,000 and S$7,000, excluding three-room...