Laguna Park at Marine Parade Road is up for collective sale with a reserve price of S$1.25 billion. Together with Henry Park Apartments, which is also up for collective sale at between S$170 million and S$180 million, the total value of properties that have come up for sale in October has hit close to S$5 billion. With over 10 sites now available for sale, developers appear to be spoilt for...
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Suntec Real Estate Investment Trust (Suntec REIT) has announced a S$410 million asset enhancement initiative (AEI) for its flagship asset, Suntec City. The AEI is scheduled to start in mid-2012, and will comprise a S$230 million capital expenditure in remaking Suntec City Mall and a further S$180 million on Suntec Singapore International Convention and Exhibition Centre (Suntec Singapore). Suntec REIT...
The latest Design, Build and Sell Scheme (DBSS) development, Trivelis, has received a total of 2,877 applications when it closed on Monday. There are 888 units - this means there are 3.26 people vying for each unit. The development along Clementi Avenue 4 is the first DBSS project in the area. 60 per cent of applicants are first time buyers. The units have an average indicative price of S$650 per square...
MCC Land has won the tender to develop an executive condominium project at Yishun Avenue 7 and Canberra Drive. The Housing and Development Board said the tender was awarded at nearly S$214 million. The site on a 99-year lease can yield 725 units. Source : Channel NewsAsia - 31 Oct...
The Urban Redevelopment Authority (URA) has released the detailed sales conditions for a White site at Marina View / Union Street today. The subject land parcel is made available for application under the Reserve List of the second half 2011 Government Land Sales Programme. Developers interested in purchasing the site can now apply to URA for it to be put up for tender. With direct frontage to the planned...
Private home prices hit another all-time high even as the rate of increase continued to moderate, suggesting that caution had crept into the market amid heightened uncertainty in the macro-economic environment and a large supply pipeline. According to the Urban Redevelopment Authority (URA), the price index of private residential properties increased 1.3 per cent in the third quarter this year from the...
Prices of private residential properties increased by 1.3 per cent in the third quarter of 2011, lower than the 2.0 per cent rise in the previous quarter. This was the eighth consecutive quarter in which the rate of increase in overall private housing prices had moderated, according to real estate statistics released on Friday by the Urban Redevelopment Authority (URA). Prices of non-landed properties in...
The HDB's Resale Price Index (RPI) for the third quarter 2011 expanded to 187.2 from 180.3 in the second quarter. In a press release on Friday, the Housing and Development Board (HDB) said this was an increase of 3.8 percent over the previous quarter. HDB added that resale transactions for flats fell by about 10 percent to 5,903 cases from 6,581 cases in the second quarter. Subletting transactions also...
This week, two major employer groups raised the alarm about the labour woes faced by Singapore businesses. The Singapore Business Federation said companies in certain industries found it particularly tough to hire locals - notably in the food and beverage, construction and service sectors - and that foreign worker rules needed to be fine-tuned and tailored to specific industries. The Singapore...
Mr Pan Shiyi, the Chinese real-estate mogul who became an object of online ridicule earlier this month, on Wednesday showed an ability to laugh at himself - as well as an ability to turn a public-relations stumble around. Mr Pan, chairman of SOHO China, said on his Sina Weibo microblog earlier this month that Apple could best commemorate the passing of co-founder Steve Jobs by making cheaper versions of...