Singapore-listed Global Logistic Properties (GLP), which manages logistics facilities in China and Japan, has priced a S$500 million perpetual bond issue at a 5.50 per cent coupon, according to a term sheet seen by Dow Jones Newswires yesterday. The bond was priced at 420 basis points above the Singapore offer rate. JP Morgan Chase was the global coordinator and bookrunner. Citigroup, DBS and Goldman...
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The Urban Redevelopment Authority (URA) has closed the tender for the hotel site at Jalan Bukit Merah/Alexandra Road. It attracted a total of six bids, with CEL Development submitting the highest bid at S$189 million. The rest of the bids ranged between S$118 million and S$184 million. The 99-year leasehold site, which has an area of about 0.79 ha and a maximum permissible gross floor area of 22,249...
The opening of Sengkang Hospital is likely to be brought forward to 2018 from 2020. Minister for Health Gan Kim Yong said on Thursday in his blog. Mr Gan said the Ministry of Health (MOH) is planning to open the hospital in phases to serve residents in north-eastern Singapore. MOH is also speeding up the hospital building programme to keep pace with the healthcare needs of the population. Meanwhile,...
Top regional real estate agents and developers were honoured at the inaugural South East Asia Property Awards 2011 in Singapore on Wednesday. The awards, which is aim to raise the bar in design and professionalism in the real estate industry, drew over 1,500 nominations. Its organiser Ensign Media said the large number of entries is a reflection of the growing strength of the industry in South East...
The Urban Redevelopment Authority has released a so-called 'white site' at Thomson Road/Irrawaddy Road in the Reserve List under the Government Land Sales Programme for the second half of 2011. A 'white site' is an area that may be developed for a variety of uses, namely commercial, hotel or residential. Developers who are interested in the land parcel can apply to the URA for it to be put up for...
The backlog of first-time applicants for the HDB's Build-To-Order flats appears to have largely cleared, following a ramp up in supply. As of 5:00 pm Wednesday, there were 1.4 first-time applicants for each flat offered, excluding studio apartments. The HDB launched 4,200 BTO flats last Thursday, including nearly 500 studio apartments meant for the elderly. Commenting on his blog on Wednesday, National...
The Urban Redevelopment Authority (URA) has closed the tender for the commercial and residential site at Jelebu Road/Petir Road. The 1.89-hectare site attracted a total of 10 bids, with the top bid of S$492.8 million coming from Sim Lian Land and Sim Lian Development. URA said the rest of the bids for the 99-year leasehold plot ranged between S$445.2 million and S$250 million. Located adjacent to the...
The Urban Redevelopment Authority (URA) is drawing on strong public interest for bold and fresh ideas on ways to develop the Malayan railway land that was returned to Singapore in July 2011. It has launched an Ideas Competition "Journey of Possibilities" to address the challenges and issues in turning the Rail Corridor into an extraordinary trail that can be enjoyed by all. The URA said the challenge is...
The Urban Redevelopment Authority has awarded the tender for the residential site at Chestnut Avenue to S P Setia International. The site attracted 12 bids, with S P Setia International submitting the highest bid at S$180 million. The 1.87-hectare land parcel which was offered for sale on a 99-year lease could yield about 380 housing units. Source : Channel NewsAsia - 30 Nov...
The Hong Kong government has proposed a new law that will slap fines and jail terms on property developers who mislead buyers of new homes. The government yesterday kicked off a two-month consultation period on the new law, which it hopes to introduce to the Legislative Council in the first quarter of next year. "There are consumer protections on other areas and there should be similar protections on...