General

DBS Group Research on Monday noted that the government's efforts to rejuvenate the Greater Southern Waterfront (GSW) area offers significant opportunities for developers, with Mapletree Commercial Trust (MCT) standing to gain as VivoCity, which is owned by the trust, is likely to remain the "bedrock of the GSW rejuvenation". Other potential beneficiaries include Frasers Commercial Trust, which owns...

New attractions are being planned for Pulau Brani, similar to Universal Studios Singapore on Sentosa, announced Prime Minister Lee Hsien Loong on Sunday (Aug 18). The island, currently home to Brani Terminal, will be set aside for “fun and recreation” as part of the Government’s plans to remake Singapore’s Greater Southern Waterfront (GSW), he said in his National Day Rally speech. Mr Lee...

Pulau Brani is now home to a port terminal, but the island is earmarked to house new attractions similar to the Universal Studios on Sentosa island, as well as a new resort called Downtown South for National Trades Union Congress (NTUC) members. The land on which Keppel Club in the south of Singapore sits will be redeveloped to build 9,000 public and private housing units with waterfront promenades,...

Australia-listed property developer Lendlease Group is injecting a shopping mall in Orchard Road into its upcoming global commercial real estate investment trust (Reit) listing worth at least S$1 billion in market capitalisation. The Business Times understands the initial public offering (IPO) portfolio will comprise one property each in Singapore and Milan, Italy with a total net lettable area of 1.3...

Home owners hoping for some relief from their monthly mortgage repayments may be in for some disappointment, even if a benchmark local interest rate, which many home loans are pegged to, has edged down following a recent rate cut by the US Federal Reserve. This as some banks have begun trimming their home loan interest rates as early as April in anticipation of the Fed’s move, market watchers told...

Rent of condominiums in Singapore inched up in July after two straight months of decline, while those of HDB flats held largely steady from June, according to monthly flash data from real estate portal SRX Property released on Thursday. The number of units leased also saw a month-on-month increase for both condos and HDBs. For non-landed private homes, overall rents last month improved 0.8 per cent...

Developers sold 1,178 private homes in July 2019, up 43.5 per cent from the 821 units they moved in the previous month, but down 31.7 per cent from the 1,724 units they found buyers for, in July 2018. The figures - which exclude executive condominium (EC) units - were released by the Urban Redevelopment Authority (URA) on Thursday based on its survey of licensed housing developers. Including ECs,...

Fund manager Arch Capital Management completed the acquisition of Anson House for S$210 million on Wednesday. The price works out to S$2,435 per square foot based on the 13-storey building's net lettable area (NLA) of 86,239 sq ft. This confirms a report in June in The Business Times Weekend, which had cited market watchers tipping Hong Kong based Arch Capital Management as the party that was doing...

A row of six adjoining conservation shophouses along Kampong Bahru Road has been launched for sale at a guide price of S$39.6 million, or about S$6.6 million each, marketing agents JLL and Tuscany Realty said in a press statement on Wednesday. Located at 69, 71, 73, 75, 77 and 79 Kampong Bahru Road near Outram MRT station, the six freehold two-storey shophouses can be sold either individually or...

Singapore's largest private residential site - Braddell View estate - has been relaunched for collective sale by tender, with the owners' reserve price remaining unchanged at an eye-grabbing S$2.08 billion. Owners of the residential units stand to receive between S$2.04 million and S$4.03 million each if the sale succeeds, marketing agent Colliers International said on Tuesday. Apartments range in size...