The Ministry of National Development (MND) has raised the development charges (DC) for new building projects in Singapore, effective from September 1. The new rates will apply to cases which are granted Provisional Permission (PP) or second and subsequent extension to the PP on or after the effective date, the ministry said in its half-yearly review on Wednesday. The DC rates for commercial projects have...
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CapitaLand's wholly-owned serviced residence business unit, Ascott, has won two new contracts to manage properties in Chengdu and Beijing. The properties are the 181-unit Ascott Financial City Chengdu, which is slated to open in 2014, and the 187-unit Somerset Wangjing Beijing, which is scheduled to open a year later. With the two additional properties, Ascott said it is on track to achieve 12,000...
The sale of Tanglin Shopping Centre will drag on for at least another month. Millennium and Copthorne Hotels (M&C Hotels) said in a statement released yesterday that the collective sale agreement for the potential sale of Tanglin Shopping Centre - with a price tag of about S$1.25 billion - has been extended by one month until Sept 26. The collective sale of Tanglin Shopping Centre was revealed in...
Luxury-home prices in central London climbed the most in nine months this month as the increasing risk of a global recession prompted investors to seek a haven for their wealth. According to real estate consultancy Knight Frank, the values of houses and apartments costing an average of £3.7 million (S$7.28 million) rose 10.5 per cent in the 12 months through August. "There's a lot of money out there...
JTC Corporation has launched a 2.83-hectare site at the junction of Kallang Avenue and Lavender Street for sale. The 60-year lease site has a maximum permissible gross plot ratio of 3.0. It is zoned for Business-1 White development. Tender closes on October 27. Source : Channel NewsAsia - 31 Aug...
Singapore-listed property and lifestyle group Wing Tai Holdings reported yesterday a full-year net profit of S$314.2 million, up 95 per cent from a year earlier, largely due to fair value gains recognised on properties and higher contribution from associated and joint venture companies. The company recorded a S$74.6 million in fair value gains from investment properties in the fiscal year ended June,...
The NUS Singapore Residential Price Index (SRPI) has shown that Singapore private home prices in July were flat, as compared to the previous month. The overall index gained just 0.2 per cent from June, as the pace of price increase slowed. Colin Tan, head of Research and Consultancy for Chesterton Suntec International, said this is mainly due to the global uncertainty over the US economy and the eurozone...
The property market was quiet during the Lunar Seventh Month this year, according to real estate services company Colliers International. Only one property was sold, out of a total of 34 properties put up for auction sale, for S$1.66 million. This is comparable to the same period in 1998 - the year of the Asian Financial Crisis - which saw two properties sold for S$1.65 million out of the 29 properties...
Latitude, a high-end condominium located on Jalan Mutiara in the prime River Valley area, has seen a spike in transactions since late July. The 127-unit freehold condo by giant listed developer CapitaLand was completed late last year. Caveat data downloaded from URA for the period from July 26 to Aug 2 saw four caveats lodged for the sale of four four-bedroom units sized at 2,766 to 2,928 sq ft. The...
The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Serangoon Garden Way to Sunmaster Holdings Pte. Ltd. and Garden Estates (Pte) Limited. The company submitted the highest bid in the tender for the site at $105,000,000 or $3,696.99psm. The land parcel was offered for sale on a 99-year...