The Ministry of Trade and Industry said it will continue to keep a close watch on the industrial property market and will release more land when necessary to ensure a stable and sustainable market. Trade and Industry minister, Mr Lim Hng Kiang, said this in a written response to a question posed by MP Zaqy Mohamad, Member of Chua Chu Kang GRC. Mr Zaqy had asked whether the ministry had assessed the real...
General
Nearly 57 percent of home buyers in Singapore believe the government is either on track or will likely exceed expectations to cool the public housing market in five years. This includes 19.9 per cent who feel prices will stabilise over the next one to two years. And another nearly 37 per cent who feel three to five years is a fair assessment for public housing prices to stabilise. The poll was conducted...
The appointed marketing agent for Bedok Residences, ERA, said as many as 500 people have formed a queue outside Bedok Residences since Sunday. But it said only those above 16 years of age have been queuing overnight, from 11pm to 6am, for the project. ERA said the people in the queue are paid by agents with potential buyers keen on the project. The agents themselves are not able to join the queue as...
MP for Moulmein-Kallang GRC Denise Phua said in Parliament on Monday that she has received 25 appeals from residents of Rochor Centre to have a dialogue with the authorities over the fate of their homes. This after the area was slated for the construction of the North South Expressway. Some 20 residents said they want a dialogue session with the Housing and Development Board and the Land Transport...
The Government's intent to keep the commercial office market in Singapore competitive does not mean that it will sell State land below its fair market value, the Ministry of National Development (MND) said yesterday in response to a question asking why it rejected the joint bid from UOL Group and Singapore Land for a site in Paya Lebar. Earlier this month, subsidiaries of the two developers submitted the...
China may ease property controls in the second quarter of next year due to concerns a steep drop in prices will push economic growth below 9 per cent - an unspoken but key target for Beijing, a prominent Chinese university said in a report published yesterday. Property prices, transactions and investments will fall in the first quarter due to the tightening measures, a Renmin University of China report...
The Housing & Development Board (HDB) has launched the tender of a commercial site at Sengkang West Avenue/Fernvale Road. The land parcel has a site area of 8,790.3 sq m and has a maximum allowable gross floor area of 26,370.9 sq m. The 99-year lease site is linked to the Sengkang MRT/LRT Station and Sengkang Bus Interchange and is near the Fernvale LRT Station. HDB said the site is accessible by...
CapitaLand's serviced residence business unit, The Ascott Limited has won contracts to manage two properties in China. In a news release, The Ascott said the properties include 186-unit Ascott M-City Foshan which will open in 2016, and the 71-unit Somerset Victoria Park Hongkong in 2013. At the moment, Ascott owns and operates Citadines Ashley Hongkong in the Tsim Sha Tsui district. Mr Lim Ming Yan,...
After its proposed en-bloc sale fell through earlier this year, Tanglin Shopping Centre is turning its attention to rejuvenating the mall and reminding shoppers it is still open for business. The 40-year-old shopping centre took out a full-page newspaper advertisement yesterday, declaring: "We are staying". Management council member Anil Bhatia, who sat on the now-dissolved en bloc committee, told Today...
Visitors to fishing spots along the coast of Punggol will now have better access to the area with the opening of the 1.2-kilometre Punggol Point Walk. It's the second zone to be opened as part of the S$16.7 million Punggol Promenade. When fully completed next year, the 4.9 kilometre-long waterfront promenade will connect two recreational clusters along the north eastern coast of Singapore. Lee Howe...