K-REIT Asia has acquired Ocean Financial Centre (OFC) from Keppel Land for more than S$2 billion. The deal sees K-REIT's aggregate leverage level rise about two percentage points to 41.6 per cent. OFC is currently 80 per cent occupied with some existing leases at lower-than-existing market rental rates due to the global financial crisis. To sweeten the deal, Keppel Land has promised rental support of up...
General
The private residential market saw a rebound in September. Figures released by the Urban Redevelopment Authority (URA) on Monday showed 2,064 units, including executive condominiums (ECs), were transacted. This is the highest number of monthly transactions this year and a significant 26 per cent increase from August's 1,638 units. Treasure Trove, a development in Punggol, accounted for about 40 per cent...
She grew up in Punggol but, today, Mdm Wee Sah Muay can no longer recognise the area where she had lived for more than 30 years until she moved out in 1975 to Hougang. The 78-year-old, who used to live at the 20th track near the old Punggol Zoo, told TODAY: "I have no impression of the new place. Everything looks different and the place where I used to stay is now an empty plot of land that the Government...
To provide developers and home-buyers with more choices for private housing, the Urban Redevelopment Authority (URA) and Housing Development Board (HDB) will be releasing four residential sites for sale in October 2011. Together, these sites will yield about 1,900 units, adding to the 13,825 units which have been launched under the Government Land Sales (GLS) Programme this year. The supply of private...
Analysts said flats sold under the Design, Build and Sell Scheme (DBSS) may be losing their relevance, as the gap in the housing market they previously served is now covered by Build-To-Order (BTO) flats. The income ceiling to qualify for a BTO flat was recently raised to S$10,000 - the same as DBSS flats. Since the public outcry over the record-breaking asking prices of a previous DBSS launch, Centrale...
The issue of foreign ownership of private residential properties has been a fairly hot topic of debate for newspaper readers recently. Sensational news reports on foreigners buying private housing properties in Singapore never fail to draw many online comments, and some of the more unbiased and thoughtful comments have made it into print in the letters-to-the-editors section. While some have called for...
Finally! After a long wait since your Sale and Purchase Agreement (SPA) signing, your property in Malaysia is ready for handover by the developer. Here are some things to keep in mind to ease the experience of taking over your new home. Issue of Vacant Possession Vacant Possession (VP) refers to the condition of a property when it is fully completed but not fit to be occupied. To protect your interest,...
CapitaCommercial Trust (CCT), an office landlord partly owned by CapitaLand, reported yesterday a distributable income of S$51.9 million for the third quarter, down 7.8 per cent from the same period last year. This is due to lower rental income following the sale of StarHub Centre and Market Street Car Park for redevelopment as well as negative rent reversions from expiring office leases this year, CCT...
Bedok Residences is located in the heart of the vibrant Bedok Central with direct access to the Bedok transportation hub. Accessible via the Pan Island Expressway and East Coast Parkway, it is a 15-minute drive to Singapore’s Central Business District. Sitting on top of Bedok Mall, the development is a short walk away to a myriad of lifestyle facilities including the Bedok Public Library, supermarkets...
Supply of land for residential homes is not likely to let up in the short-term. The government said it will release more land and calibrate measures to ensure property prices are in line with economic growth. The price of property has become a hot button issue here and is likely to get considerable airing in Parliament next week. In the addendum to the President's Address in Parliament, National...