Hotel rooms in Singapore are the most expensive in Asia, according to the latest Hotel Price Index by Hotel.com. This despite a two per cent fall in average hotel room rates in the region. The latest index placed Singapore sixth among traditionally expensive countries like Switzerland, Italy, Denmark and France. Average room prices for hotels in Singapore came in at S$239 last year, a two per cent drop...
General
Singapore has been ranked the most competitive city in Asia, according to a report by the Economist Intelligence Unit. The "Hot Spots: Benchmarking Global City Competitiveness" report also identified Singapore as the third most competitive city in the world, after economic and financial hubs New York and London. The report covered a total of 120 global markets, assessed on the basis of 21 qualitative and...
Three new tenants are taking up space at the Tower 3 of Marina Bay Financial Centre (MBFC). According to a news release, the three are mining group Rio Tinto, Fitness First and The Regus Group. They will collectively occupy a total of 75,000 square feet of the 46-storey tower. Mining giant Rio Tinto will occupy one-and-a-half floors totalling 46,000 square feet when it moves its Singapore staff to MBFC...
The winners of the "Journey of Possibilities" ideas competition for the Rail Corridor will be unveiled on March 30. The Urban Redevelopment Authority said the winners will share their ideas at a presentation which will be held at the URA Centre from 7.00 pm to 9.00 pm. The public is invited to attend this session to learn more about the winners' innovative solutions and ideas in addressing some of the...
Mapletree Logistics Trust (MLT) said it has acquired seven logistics facilities in Japan for JPY 17.5 billion or about S$292 million. In a statement, the Trust said the seven properties, with a total gross floor area of 124,300 square metres are located within the key logistics hubs across Japan in the Hokkaido, Greater Tokyo, Nagoya and Osaka regions. The acquisition is expected to generate a stabilised...
The freehold mixed-use development Seletar Garden has been successfully sold in a collective sale exercise for S$96.2 million to a consortium led by Oxley Holdings. It is the first successful en bloc sale out of the eight sites launched this year. The sale price is much higher than the asking price of between S$80 million and S$85 million. Each apartment owner is set to receive between S$2 million and...
Singapore's property market may be set for an uptrend in 2012, even as the market comes to terms with the cooling measures introduced in December 2011, according to a local property website. iProperty.com Singapore arrived at this conclusion based on initial enquiry figures from the first two months of 2012. Data from email and SMS leads generated by the portal showed a 60 per cent jump in February 2012,...
The recent saga in Toh Yi estate where a petition by some residents to stop the building of a block of studio apartments for the elderly in their neighbourhood, as well as the earlier case of Woodlands residents opposing to an eldercare centre being built at their void deck, shocked many right-minded Singaporeans. Are some of us so caught up in the rat race that we have become so uncaring and unfeeling...
Malaysia's state-backed fund, Permodalan Nasional Berhad (PNB), has acquired two landmark London offices for around £500 million (S$1 billion) in the latest example of continued overseas interest in the UK capital. PNB bought One Exchange Square in the City, the famously lavish home of the European Bank for Reconstruction and Development; and 90 High Holborn, the headquarters of law firm Olswang. The...
Singapore ranks among the world's top five in terms of residential property price growth, said a report released on Thursday. According to the Global House Price Index by Knight Frank, Singapore saw home prices increase by 50.5 per cent over the last five years, the fourth highest increase globally. Over the same period, China topped the list with a 110.9 per cent increase in home prices followed by Hong...