The Central Business District (CBD) here is the most expensive place in South-east Asia to park a car, according to a report which looks at parking rates in global commercial areas. It costs a driver an average daily rate of US$24.59 (S$30.40) to park his car in Singapore's CBD - more than 20 times what his counterpart in Jakarta has to pay. Parking in the Indonesian capital's CBD costs an average of 92...
General
Grade A office properties in the Marina Bay and Raffles Place vicinity have been commanding respectable take-up rates. Overseas Union Enterprise's OUE Bayfront, which obtained its temporary occupancy permit (TOP) in January, has committed leases of 77 per cent of its 500,000 square feet of net lettable area. OUE said that its latest tenants include international law firm Hogan Lovells International and...
Police are looking for a man whom they believe can help them with their investigations into a series of flat rental scams reported at Blk 123 Rivervale Drive. The man was identified as Dennis Ang Beng Kiat who's in his 40s. He is slim-built and about 1.7 metres tall. Police said at least three cases have been reported since November last year. The victims had responded to flat rental advertisements...
Renowned architect Moshe Safdie has been appointed by CapitaLand Residential Singapore as the lead designer for its condominium at Bishan Central. For the approximately 540-units development, Moshe Safdie has introduced a strong and distinctive stepping form that provides for private garden spaces for a large number of the units. There will be two 38-storey towers linked by three bridging "sky gardens",...
Market watchers said the HDB resale flat prices will likely hold for the rest of the year amid an imbalance between supply and demand. Over the weekend, the National Development Minister said it would take three to five years to "substantively resolve" the problem of high resale flat prices and for prices to stabilise. Prices of resale HDB flats have been heading north, rising nearly 5 per cent in the...
Frasers Centrepoint Trust (FCT) has posted a Distribution Per Unit (DPU) of 1.95 cents for the third quarter. This represents a fall of 5.8 per cent compared to the same period a year ago. The trust posted gross revenue of S$27.3 million and net property income of S$18.7 million, which represents year-on-year decreases of 11.1 per cent and 13.4 per cent respectively. FCT said that this was mainly due to...
The Urban Redevelopment Authority (URA) launched the second land parcel in Paya Lebar Central for sale by public tender today. Located at the fringe of the city centre, Paya Lebar Central is envisaged to be a bustling commercial centre, with a mix of office, retail, hotel developments and attractive public spaces. The precinct has in total about 12 hectares of land which can potentially yield 500,000 sqm...
Starhill Global REIT (SGR) has reported a distribution per unit (DPU) of 1.04 cent for the second quarter ended June 30. This is 14.3 per cent higher compared to the 0.91 cent it achieved for the previous corresponding period. Income to be distributed to unitholders in the quarter was S$20.2 million, 14.3 per cent higher than the S$17.7 million in the second quarter of 2010. Starhill also recorded net...
Luxury residential prices and rents in Hong Kong rose to a new high in the second quarter of the year due to tight supply and strong demand from mainland Chinese buyers, according to a report by Colliers International. Overall luxury residential prices rose by 3.8 per cent on a quarterly basis to a record of HK$19,520 (S$3,024) per sq ft in the three-month period ended May, surpassing the previous peak in...
Several projects in Singapore have secured provisional permission (PP) from the Urban Redevelopment Authority (URA) in the second quarter. In the central business district, a Tuan Sing unit obtained PP to develop an office / retail project on Robinson Road. The development comprises 380 sq m of shopping space and 23,530 sq m gross floor area (GFA) of offices. Also on Robinson Road, Oxley Consortium Pte...