The Housing and Development Board (HDB) is reviewing the leasing model for the Interim Rental Housing scheme, which was launched in 2009 to help needy families find temporary accommodation while waiting for permanent housing solutions. Currently, these families live in housing blocks spread across the island which are slated for redevelopment. These blocks are leased to operators - such as EM Services and...
General
Mickey Mouse homes - or homes below 500 square feet in area - are not new. But the trend of smaller format units has caught on in the industrial and retail sectors as well. Known as strata units, they are deliberately kept small to be affordable to retail investors. Strata shops are usually no larger than 300 square feet, which is a fifth of the size of an average retail store such as Starbucks. A 300...
Commercial properties in Asia will continue to do well in the second half of this year, according to real estate investment house Pacific Star in its biannual Asia Property Outlook and Strategy report. Pacific Star, a real estate investment house, said the Asian real estate environment continues to shine, despite greater global uncertainty, as it is supported by favourable economic fundamentals and...
Far East Organization (FEO) has sold more than 150 units at its euHabitat residential development in Jalan Eunos. Over 200 units of the project’s 748 units were released during its preview last week. The 99-year leasehold private residential project comprises 233 one- and two-bedroom Soho-style units, 160 one-bedroom suites and 51 four-bedroom townhouses. The remaining units consist of one- to...
Wheelock Properties' profit before tax for its half year ended 30 June fell 33 per cent to S$107 million. For the same period, revenue dropped 40 per cent to S$170 million. Wheelock Properties attributed the decline in revenue largely to the completion of Ardmore II and Orchard View in the second quarter of last year, as well as lower revenue recognition from Scotts Square based on the progress of...
SGX-listed Yanlord Land Group announced on Monday that it has sold 58.4 per cent, or 181 out of its 310 apartment units, at its inaugural launch of Yanlord Riverside Gardens in Tianjin, China. Yanlord Riverside Gardens is the group's second international community development in Tianjin and contracted a total of 572 million yuan in pre-sales. The real estate developer said that despite market...
Singapore property prices may continue climbing this year, contrary to a widely expected downturn, according to results of a survey by online portal PropertyGuru.com.sg. Most respondents said property in Singapore will remain expensive, and they are setting their sights on alternatives like commercial property and real estate investments overseas, the survey showed. Rising property prices are pushing...
The final twelve stations of the Circle Line running from Marymount to HarbourFront will start operating on October 8. Transport Minister Lui Tuck Yew announced this as he visited two new Circle Line stations at Holland Village and Caldecott on Monday. The opening of the final 16.6 km stretch will mark the completion of the entire Circle Line which has 28 stations. The expected daily ridership for the...
Singapore has retained its position as Asia's Top Convention City, according to the latest global rankings by the International Congress and Convention Association (ICCA). In addition, Singapore has maintained its spot as one of the Top Five Convention Cities alongside Vienna, Barcelona, Paris and Berlin. ICCA's CEO Martin Sirk congratulated Singapore on hosting the most rotating association meetings...
Singapore continues to be attractive for multi-national companies to set up headquarters and take advantage of growth in Asia. That was the message from Mr Leo Yip, Chairman of the Economic Development Board (EDB). Speaking to Channel NewsAsia on EDB's 50th anniversary, Mr Yip said prospects for Asia also remain bright despite the slower growth in the last quarter for Singapore. He said global companies...