Marks & Spencer will take over the Wheelock Place retail space once occupied by Borders bookstore. The British retailer will move from its current location at basements one and two, and set up a flagship store at level one. Since Borders moved out, at least 10 retailers have expressed interest in the prime shop space. They included new players who do not have a presence in the Singapore scene just...
General
A second person was charged on Thursday with representing himself as a property agent without being registered with the Council for Estate Agencies (CEA). 30-year-old Raymond Sim Soon Leong was also charged with failing to obtain a written authorisation from a licensed real estate firm before practising. Despite being unregistered and unauthorised, CEA said in a media release that Sim had advertised two...
The Republic has moved up two notches to rank seventh in a list of the world's most expensive office locations as of June, its highest ranking in two years. It is also the world's sixth most expensive warehouse location as of June, up from seventh position in December, according to two surveys by Colliers International released yesterday. Data shows that rental growth for Grade A offices in the Central...
Singapore shopping mall developer Capita-Malls Asia said yesterday its third-quarter net profit fell 30.3 per cent from a year earlier mainly due to higher finance expenses and absence of gains from sold assets. Net profit for the three months ended September was S$36.5 million, compared with a restated S$52.4 million, the company said. The company restated comparative figures from 2010 after adopting a...
Singapore is suddenly awash with properties up for enbloc sale. With almost 10 estates going to market this month, analysts said this will probably be the last wave for the year. A last splurge for developers for 2011, and possibly the last before the market cools - that's what some owners of en bloc properties are hoping for. Estates such as Crystal Tower in Bukit Timah and Faber Garden in upper...
Property developer Keppel Land has reported a 6.6 per cent on-year increase in its third quarter net profit to S$58 million from a restated S$54 million last year. In a statement, Keppel Corp's real estate unit said the increase was due to higher earnings from property investment, as well as the introduction of a new accounting policy. The group adopted a new policy in January, under which revenue and...
The tender for a Government Land Sale at Flora Drive closed on Wednesday with a top bid of S$163 million from Realty Consortium. The company is understood to be part of Koh Brothers Development. A total of eight bids were received with the lowest coming in at S$130 million. Tripartite Developers and Qingjian Realty (South Pacific) Group put in the second and third highest bids of $147.6 million and...
Mr Khaw Boon Wan has outlined his priorities for the first two years of his term as the National Development Minister. In his first speech on housing issues in Parliament on Wednesday, he said he will focus on the newlywed HDB first-timers and vulnerable families. Mr Khaw said he is committed to help all newlywed first-timers earning below S$10,000 per month get their first HDB home as soon as...
Plans to build ahead of order are continuing with seven HDB Build-To-Order (BTO) projects on track despite the subdued response of home-buyers. Among seven Build-To-Order (BTO) projects launched in September, the Housing and Developmemt Board said three had relatively low application rates. According to a HDB statement, the Golden Peony BTO project at Jurong West, comprising 190 Studio Apartment, had an...
Applications for the DBSS project in the Jurong lake district opened on Tuesday. As of 6pm, Lake Vista@Yuan Ching has received 100 applications. And developers are confident the applications will soar over the weekend. The 682-unit public housing project comprises 3-, 4- and 5-room apartments. Prices of 4-room flats range from $481,000 to $575,000. Despite other DBSS projects also coming up in Bedok...