The recently imposed Additional Buyer's Stamp Duty (ABSD) on certain categories of residential properties had some analysts predicting a spillover of demand to non-residential properties like industrial, retail or office strata units, but the situation might not be as straightforward as it seems. Industrial strata units have always been an alternative investment to residential properties given its...
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Swire Properties said yesterday that it plans to build a 2.9-million-sq-ft project in Miami's financial district. The Hong Kong-based company had previously said that the development, Brickell CitiCentre, would cost about US$1.05 billion (S$1.3 billion). It said the project would include three office towers, two residential blocks, 500,000 sq ft of shopping and dining space, as well as a hotel, with...
The Urban Redevelopment Authority (URA) has on Thursday placed two sites for sale by tender. The first plot is a hotel site at Rangoon Road / Farrer Park Station Road which was made available for sale through the Reserve List system last November. With a land area of about 0.3 hectare, the hotel site is expected to generate a gross floor area of about 13,004 square metres. URA said a developer has...
Property group CapitaLand said its chairman and non-executive director Dr Hu Tsu Tau is retiring from his posts on April 30. Mr Ng Kee Choe, an independent and non-executive director of the company, will succeed Dr Hu as chairman of the board and its investment committee. He is currently a member of CapitaLand's Executive Resource and Compensation Committee, Investment Committee, Nominating Committee,...
The Housing and Development Board (HDB) has launched the tender for four residential sites, which could yield approximately 2,070 residential units. Three of the four land parcels were released under the confirmed list, while the last plot was made available under the reserve list of the 1H2012 Government Land Sales (GLS) Programme. The three sites — Punggol Central/Edgefield Plains (pictured),...
Singapore’s private property market has witnessed stellar growth in recent years, yet that outstanding performance has also seen a rise in the number of empty homes in the city state. At the end of last year, there were 15,890 unsold homes in Singapore – a substantial increase on the 12,740 at the start of the year. Right now, almost six percent of all private homes in Singapore remain...
After several weeks of stagnation, the bungalow market is starting to move again, as the stock market becomes more solid and the Eurozone crisis has shown improvement of late. “The market is surprisingly getting back its momentum and buyers are making offers for units which are reasonably priced,” said William Wong, Managing Director at RealStar Premier Group, which specialises in bungalows around...
While the Council for Estate Agencies (CEA) considers a potentially shorter timeframe for dispute resolution, National Development Minister Khaw Boon Wan has responded to Singaporeans’ feedback over a recent blog post about the CEA entitled ‘A Very Busy First Year’. Mr Khaw expressed gratitude for the feedback, highlighting that the views agreed on were improving public education for consumers,...
Ultra Mansion at Derbyshire Road will be put up for collective en-bloc sale on February 16. Spanning over 45,500 square feet, the freehold site is located in one of the prime districts in Singapore at the Novena area. Its marketing agent Cushman & Wakefield told MediaCorp that the site is expected to fetch over S$170 million, with very minimal development charges payable. It adds that based on a...
What used to be a concrete canal in Bishan Park has been transformed into a natural river that will make the community space more vibrant. The National Park Board (NParks) said on Wednesday that the waterway flows right at the doorsteps of Bishan and Ang Mo Kio. The project by NParks and national water agency PUB is part of the Active, Beautiful, Clean Waters (ABC Waters) Programme to beautify...