Mixed-use concepts have become increasingly popular in key property projects as the market matures and as developers and landlords innovate product offerings, Planners and developers have seen the increased preference by occupiers to have a wide array of living experiences - being work, leisure and stay - at their convenience. Additionally, from the developers' point of view, mixed-use projects allow for...
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An Institute of Policy Studies (IPS) report released this week painted a grim picture of Singapore's population shrinking in 24 years if the country closes its doors to immigrants. This is because of Singapore's total fertility rate (TFR), which is one of the lowest in the world. Despite incentives to boost population growth, the TFR slumped to a historic low of 1.15 last year. With a shrinking...
Singapore ranked second on the list of the most expensive places to build in Asia, according to the 2011 International Construction Cost Report released by EC Harris. Coming in behind Japan and sharing the spot with Hong Kong, Singapore is also among the top 20 most expensive countries to build worldwide, the report added. According to the recent survey, the building prices in Asian countries have...
Global Logistic Properties (GLP), a subsidiary of Government of Singapore Investment Corporation (GIC), said it sees strong demand for its logistics facilities in China. The company announced on Wednesday that it has signed new and expansion lease agreements totalling 152,000 square metres at GLP Park Chongqing and GLP Park Chengdu Hi-tech. It said due to the growing demand from customers in western...
Housing agents said prices for the first executive condominium launched after the income ceiling was raised for households, range from just under S$600,000 to S$1.32 million. Agents said that two-bedroom units, for Arc at Tampines, located at Tampines Avenue 8, are going for between S$741 and S$875 per square foot while the price for three-bedroom units ranges from S$693 to S$810 per square...
A residential land site for condominium development at Upper Serangoon Road received just three bids at the close of its tender on Wednesday. The top bid of S$270.3 million from Allgreen Properties is also below market expectations. The 265,013 square feet site has a maximum gross floor area of 927,545 square feet. Thus, the bid price by Allgreen works out to be a unit land price of S$291 per square...
A small freehold development at Robin Road, off Bukit Timah Road, has been put up for sale with an expected selling price of S$58 million. The property at numbers 2 to 8 Robin Road comprises 16 residential units and has a land area of approximately 23,084 square feet. Under the 2008 Master Plan, the site is zoned for residential development at Gross Plot Ratio (GPR) of 1.4 with an allowable building...
Park West, a prime residential site at Jalan Lempeng, is up for en bloc at an indicative price of S$803 million. Marketing agent ERA Realty Network said the estimated differential premium and topping-up of the lease is S$230 million. The site has a 99-year lease and a total site area of over 633,600 square feet. This represents a gross floor area of about 1.33 million square feet and the site is zoned...
Daisy Apartments, a residential redevelopment site near Serangoon Gardens, was successfully sold via en bloc for S$14.618 million to SingBuilders. This translates to a land rate of about S$738 per square foot per plot ratio, including an estimated development charge for the 10 per cent bonus gross floor area for balconies. With the successful sale, each owner stands to receive gross sales proceeds of up...
Dynasty Garden, a freehold redevelopment site in District 10, along with its adjoining plot, have been launched for sale through a public tender. Located along Sixth Avenue, Dynasty Garden currently comprises 33 walk-up apartments with unit sizes of between 97 sq m and 242 sq m. Knight Frank, the property’s sole marketing agent, said it has a price tag of S$105 million (around S$1,432 psf), based on a...