General

Amid a lower-for-longer interest rate environment, Singapore real estate investment trusts (S-Reits) are ramping up their acquisitions worth billions of dollars, according to market observers. Just this week alone, three S-Reits have announced equity financing to partially fund their acquisitions - Keppel DC Reit raised S$478.2 million to fund its proposed acquisition of two data centres worth about...

Manhattan House - a full commercial site along Chin Swee Road - will be up for sale via a public tender on Friday, with a reserve price of S$300 million. This reflects a land rate of S$1,681 per square foot per plot ratio, inclusive of the differential premium payable, ERA Realty Network said in a news release on Wednesday. The collective sale launch was announced after Manhattan House received a...

The Government is working out a new pricing model for future public housing in the Greater Southern Waterfront, in order to mitigate the so-called “lottery effect” of obtaining a subsidised flat in a prime area, said Minister for National Development Lawrence Wong on Thursday (Sep 19). His comments come after Prime Minister Lee Hsien Loong said in his National Day Rally speech last month that the...

Warburg Pincus-backed ARA Asset Management, one of the largest Asian real estate fund managers, is exploring a dual stock market listing, including one in Singapore, in the next two to three years, group CEO and co-founder John Lim said. "A dual listing is a likely scenario. Singapore definitely will be one venue," Mr Lim told Reuters on the sidelines of a conference organised by DealStreetAsia on...

Five adjoining conservation shophouses located in Kampong Glam are up for sale via public tender at a guide price of S$23.8 million, real estate firm Knight Frank said on Wednesday. The freehold shophouses at 17, 19, 21, 23 and 25 Baghdad Street are located at the prime corner of Baghdad Street and Muscat Street. They have five individual titles with a total land area of 4,892 square feet (sq ft),...

Coworking spaces now take up 3.7 million square feet (sq ft) in net lettable area (NLA) of Singapore's commercial space, tripling from 1.2 million sq ft in 2015 to become one of the top six occupier sectors, said Colliers International. The top occupier sector in the Singapore CBD (central business district) Grade A office space are financial services, followed by professional services, technology,...

Sales of private homes by developers in Singapore rose 81.9 per cent in August from a year earlier, official data showed on Monday (Sep 16). Data compiled by the Urban Redevelopment Authority (URA) showed developers sold 1,122 units last month, compared with 617 units in the same month a year earlier. However, sales fell from the 1,179 units sold in the previous month. Analysts said sales momentum...

While market activity typically tends to slow during the Hungry Ghost month, sales volumes for private homes in August seemed to hold strong as developers sold over 1,000 new homes. The 1,468-unit Parc Clematis is the top selling private residential project, with 316 units snapped up in August (as at Sept 12). Other projects launched earlier that continued to bring in a steady stream of buyers during...

CITY Developments Limited (CDL) said its final cash offer to acquire all the remaining shares in its London-listed subsidiary Millennium & Copthorne Hotels (M&C) has been declared unconditional in all respects. The delisting of M&C shares from the London Stock Exchange (LSE) is expected to be effective on Oct 11, the mainboard-listed property developer said early on Friday morning. As of 5pm London...

A good class bungalow (GCB) at 80 Belmont Road, owned by The Stratech Group's Chew family, will be relaunched for auction next week with a lower guide price of S$39 million, marketing agent Knight Frank Singapore said on Thursday. The auction will be held on Sept 18 at 2.30pm at Amara Hotel, Level 3. The new guide price works out to S$1,444 per square foot (psf) based on 27,000 square feet (sq ft) in...