The government sees Tengah and Bidadari as potential residential towns as it plans ahead for a growing population. This was mentioned on Wednesday in the National Development Ministry's addendum to the President's Address. The addendum was issued by Minister Khaw Boon Wan. Highlighting his ministry's commitment to achieve sustainable economic, social and environmental outcomes, Mr Khaw said: "We will...
General
CapitaMalls Asia said its multi-billion dollar investments in China won't contribute much to its earnings in the near-term. The property developer played host to some of its tenants at a convention in Singapore on Wednesday. While Japanese exporters may be hurting from gains in the yen, the currency's strength has given Daiso - market leader of 100 yen shops - reason to cheer. Mr Hirotake Yano,...
Singapore's Law Minister said he expects the approval rate of foreigners owning private property to reduce by more than half, since the amendment to the Residential Property Act. The changes, which kicked in in January this year, impose tighter restrictions on foreign ownership. Those who renounce their citizenship or Permanent Residency are to sell their restricted residential properties in two...
Growth in the capital values of Grade A office buildings in Singapore fell 2.1 per cent to US$19,990 (S$25,700) per sq m in the third quarter of the year from the previous three months as investors became more cautious. According to a report by Jones Lang LaSalle (JLL), corporate hiring sentiment and leasing demand weakened here amid market volatility and news of some companies shelving relocation and...
UOL Group said yesterday that its high-end condominium project in Bukit Timah, Duchess Residences, has won the inaugural FIABCI Singapore Property Awards 2011 in the Residential (low rise) category organised by the International Real Estate Federation here. UOL has previously won four international FIABCI awards. The FIABCI Singapore Property Awards judges individual properties in terms of design,...
The tender for a executive condominium (EC) site at Pasir Ris has attracted a high number of developers, according to the Housing & Development Board (HDB). There were a total of 11 bidders for the site at Pasir Ris Drive 3 and Pasir Ris Link. The top offer of S$122 million came from joint bidders Ho Lee Group and Maxdin. That translates to about $291 per square foot per plot ratio. This means a...
A Design, Build and Sell Scheme (DBSS) project in Bedok is set to be launched this week. The project, Belvia, is one of a few projects for which tenders were given out before the government announced it will put DBSS projects on hold. CEL Development said on Monday e-applications for Belvia -- a 488-unit project comprising three-, four- and five-room units in Bedok -- will open from 14 to 18...
The Urban Redevelopment Authority (URA) launched the Commercial and Residential site at Jelebu Road / Petir Road for sale by public tender today. Located adjacent to the existing Bukit Panjang LRT station and the upcoming Bukit Panjang MRT Station, the land parcel is well positioned to be an attractive mixed-use development, with retail, F&B and residential uses. The future development will also be...
Two freehold residential sites have been relaunched for en bloc sale. One of them is St Patrick's Garden on St Patrick's Road. The property currently holds just under 100 units and sits on a 137,559 freehold land parcel. It is zoned for "residential" use with an allowable gross plot ratio of 1.4. The site can be re-developed into a five-storey residential development, which could make up over 175 units...
Average rental values for private industrial space stagnated in the third quarter of 2011 as leasing demand softened for industrial space, according to DTZ Research. The average rent for hi-tech industrial space and upper-storey private industrial space stood unchanged quarter-on-quarter at S$3.45 and S$1.75 per square feet per month respectively in Q3 2011. DTZ said the slowdown in the office sector has...