A consortium led by property giant CapitaLand, CapitaMalls Asia and Temasek unit Singbridge will spend about 21 billion yuan (S$4.1 billion) on a mixed-use development in Chongqing, China, after it won the tender yesterday for the site in the world's largest city. Lead developer CapitaLand said this as it announced plans to turn the property on the banks of the Yangtze and Jialing rivers into something...
General
Recent reports have signalled that property prices across China and other parts of Asia are heading towards a correction. But regional developers and market observers say it is not all doom and gloom yet for the sector. The integrated resorts and international events like the F1 have brought the spotlight on Singapore. They have also piqued foreign investors' interest to invest in luxury properties, say...
A property consortium led by CapitaLand, CapitaMalls Asia and Temasek unit Singbridge Holdings has won the tender for a mixed development site in Chongqing, China. CapitaLand said it hopes to develop the property like ION Orchard, Raffles City or Clarke Quay. The Chao Tian Men site will be developed into a shopping mall and will also have eight towers. The towers will have a hotel, residential units,...
The tender for the industrial site at Soon Lee Street closed on Tuesday with only three bids. The top bid of S$48.1 million was submitted by KNG Group. This works out to S$1226.15 per square metre. It is also about 40 per cent higher than the second highest bid of S$33.8 million submitted by Soilbuild Group. Elitist Development comes in third with a bid of S$27 million. The Urban Redevelopment...
Three new residential sites for private housing have been released under the Government Land Sales (GLS) Programme. The sites are at Mount Vernon Road, Jalan Lempeng and the Kovan Road/Simon Road area. The Urban Redevelopment Authority and the Housing & Development Board said the sites are for sale on Tuesday, by public tender. Together, they are expected to yield about 1,830 units, adding to the...
JTC Corporation has awarded the tender for an industrial site at Lavender Street/Kallang Avenue to PLC 8 Development. The firm submitted the highest bid of S$218.3 million. The 60-year-lease site is zoned for Business 1-White and has a land area of 28,348 square metres. The industrial site has a gross plot ratio of 3.0 with a project completion period of 84 months. It was launched for public tender on...
Home prices in Singapore inched up 0.9 per cent last month from September mainly due to a turnaround in the value of private non-landed residential properties in the central region, according to data from the National University of Singapore (NUS). The Overall NUS Singapore Residential Price Index rose to 167.9 last month from 166.4 in September, when prices fell 0.1 per cent. Excluding small units,...
Measures introduced to control China's real estate market are at a "critical stage" and the government should keep the curbs, Chinese Vice-Premier Li Keqiang said, Xinhua reported yesterday just hours before the Organization for Economic Cooperation and Development (OECD) warned that property risks were "overshadowing" the economic outlook of the world's second-largest economy. Mr Li, who is in line to...
Prices of private non-landed homes in Singapore resumed their upward trajectory in October, according to figures from the National University of Singapore (NUS). The NUS Singapore Residential Price Index (SRPI) rose 0.9 per cent from the previous month, after a decline of 0.1 per cent in September. SRPI is a transactions-based index that tracks the month-on-month price movements of private non-landed...
Singapore’s property sector may soon face difficult times, as Standard Chartered Bank’s latest report has stated a bearish outlook for the market. According to the bank’s analysts, prices and rents of residential properties in Singapore will drop by 30 percent over the next three years. This will be quite a setback, given that prices rose 18 percent in 2010, as Singapore recovered strongly from the...