Developers and property agents must not mislead buyers into mis-using industrial land for unauthorised commercial or office activities. In fact, they are required to inform prospective buyers upfront that industrial units can only be used for industrial activities. In a blog post on Friday, National Development Minister Khaw Boon Wan said some appear to be abusing the lower rentals at industrial premises...
General
Admiralty Park, East Coast Park and Jurong Lake Park will be developed into large regional parks, offering recreational features not usually found in public parks. Called Destination Parks, the three were selected based on geographical location - one each in the North, East and West regions of Singapore. They're expected to be developed within three to five years. Prime Minister Lee Hsien Loong...
Marine Cove at East Coast Park on Sunday marked it last weekend of operations for tenants before the area undergoes redevelopment. This comes as the leases for the businesses end this month. The area was still bustling with many spending their weekend here despite the wet weather. Some shops had already moved out while others, like the McDonalds outlet, will end operations at midnight. The outlet has...
Leasing activity in the private residential market is expected to slow this year as the uncertain economic outlook causes companies to be more cautious in hiring expatriates. But there may be some leasing opportunities arising from recent property market cooling measures, particularly December's announcement of the 10 per cent additional buyer's stamp duty (ABSD) on foreigners who purchase private...
A few days ago, a Hong Kong businessman told me he felt that a lot of supposedly "independent" property analysts were bent on pouring cold water on the private housing market in Singapore. Well, not all, but he is right to an extent. The rhetoric may have cooled somewhat but the negativity remains. I can understand where they are coming from. A number have made judgement calls that housing prices will...
Even as property markets have cooled in China, Singapore property developer CapitaLand is forging ahead with its big ambitions there. Speaking on the sidelines of a talk organised by the NUS Business School on Thursday, CapitaLand's president and CEO, Liew Mun Leong, said China remains under-urbanised, and there are lots of opportunities to expand its residential and shopping malls there. China's booming...
Singapore investment company Temasek Holdings and its Malaysian counterpart Khazanah Nasional have signed S$5 billion worth of property development loans, according to a person familiar with the matter. DBS Bank, Oversea-Chinese Banking Corp, United Overseas Bank and Malayan Banking lent S$850 million each, while Australia and New Zealand Banking Group, Sumitomo Mitsui Banking and Bank of Tokyo-Mitsubishi...
Demand for new private homes in Singapore continued to increase in February, after rising sharply in January. The Urban Redevelopment Authority said excluding executive condominiums, 2,413 new private homes were sold in February, up by about 29 per cent from the previous month. In January, 1,872 new units changed hands, almost three times more than December's sales. For February, the best selling...
Four residential sites which could yield a total of 2,415 housing units will be released this month. In a statement, the Housing and Development Board (HDB) said it will be launching two Executive Condominium (EC) sites for sale on Thursday. The land parcels are located at Woodlands Avenue 5 and Tampines Central 7. Together, they can offer about 1,300 housing units. In addition, HDB said the Urban...
There has been mixed reactions from residents to the illegal use of land at Clementi Avenue 4. Some in the area said they are concerned about their health due to smoke from burning vegetation while others said they like the kampong feel. The Singapore Land Authority (SLA) said the area was previously under Malaysia's KTM Berhad but it has since reverted to the State when the Singapore-Malaysia land swap...