Global Logistic Properties (GLP), a subsidiary of the Government of Singapore Investment Corp, said yesterday that it has not made any decision on the setting up of a real estate investment firm in Japan. The statement follows media reports last week that GLP is considering a listing of its Japanese assets through a real estate investment trust in an initial public offering in Japan that could raise at...
General
33,054 real estate agents were registered with the Council for Estate Agencies (CEA) as at end of August and 1,535 agencies have been awarded licences. The CEA gave an update on its operations to the media at a closed-door event on Monday, one year since its formation. The council is tasked with industry development and enforces regulations such as compulsory licensing. So far, the CEA has issued about...
Foreigners are acquiring posh apartments in Singapore and contributing to the health of the luxury market, which had been weak since early 2007, according to an article in The Straits Times. Foreigners, including permanent residents (PRs), acquired 162 non-landed units with an average price of over S$5 million in the first half of 2011. According to a Cushman and Wakefield analysis of URA caveats lodged,...
There’s been a return of interest in the landmark condominium The Sail at Marina Bay in the past month, with three transactions from Aug 5 to 12. According to property agents, The Sail is seeing renewed interest from foreign high-net-worth individuals. A one-bedroom unit on the 56th floor of the 63-storey Tower 2 changed hands recently for $2.1 million, or $3,048 psf. This is the seventh transaction at...
Global Logistic Properties (GLP), a subsidiary of the Government of Singapore Investment Corp, is planning to raise at least ¥100 billion (S$1.6 billion) in an initial public offering of its Japanese assets by the end of this year, three people with direct knowledge of the matter said. GLP has hired Citigroup, Goldman Sachs and Nomura Holdings as the main underwriters for the IPO, which would be the...
The 55 units at its The Nassim condo is expected to price between $9 million and $33 milllion. The low-rise condo, on the former ANA Hotel site at Nassim Hill, has been designed by Mok Wei Wei of W Architects. The project will be set amidst lush greenery, creating a distinct ambience of living in a landed area. 'This will appeal especially to foreigners, who face restrictions buying landed properties on...
Property agents have said buyers from China make up the largest group of foreign investors in Singapore's private residential property. The number of buyers from China has doubled in the past three years. Property agents and developers said Chinese buyers are mostly interested in properties that are in prime districts and have a sea view. Agents said previously, the traditional groups of foreign buyers...
President of the Real Estate Developers Association (REDAS), Mr Wong Heang Fine, has urged the government to review the various property market tightening measures from time to time. He said this is needed to avoid artificially suppressing genuine demand for private properties in Singapore. Mr Wong also expressed concerns of a potential oversupply situation in the near term. Under the government's Land...
Property and construction company Sim Lian Group Limited has launched its newest condominium, A Treasure Trove in Punggol Central. The 99-year leasehold development features two-bedroom, two-plus-study, three-bedroom, three-plus-study and four-bedroom units, as well as high-end single-level penthouses with seven bedrooms. “Sim Lian Group creates homes on the tenets of prime location and accessibility,...
A Hoi Hup led-consortium sold 220 units at the Arc at Tampines executive condo (EC) project during balloting yesterday, at an average price of S$722 psf. “Arc is the first EC launch to benefit from the higher monthly household income ceiling of S$12,000 compared with S$10,000 previously,” said a market watcher. He noted that the project has seen more units sold than other recently launched EC...