The Urban Redevelopment Authority has awarded the tender for the industrial site at Pioneer Road North and Soon Lee Street to KNG Properties. The company has submitted the highest bid of over S$64.4 million. That translates to about S$1,890 per square foot per plot ratio. The tender for the industrial site was launched on June 16, and closed on July 13. The land parcel was offered for sale on a 30-year...
General
K-REIT Asia on Monday said its second-quarter distribution per unit (DPU) rose 17.7 per cent to 1.93 cents compared to a DPU of 1.64 cents recorded in the same period last year. Distributable income for the three months ended June rose 19.7 per cent to S$26.3 million. For the first half, K-REIT announced a DPU of 3.72 cents, a 25.3 per cent increase on-year. Distributable income for the first half came...
Mainboard-listed Global Logistic Properties (GLP) on Monday said it has signed a long-term lease agreement with DHL Supply Chain, a Japanese subsidiary of logistics firm DHL group. This would be the third lease agreement that DHL group has with GLP in Japan, bringing GLP's overall Japan portfolio to 99 per cent leased. GLP said it sees robust demand for modern logistics facilities. It added that with...
Ascendas Real Estate Investment Trust (A-REIT) on Monday said its first-quarter distribution per unit fell 5 per cent. This is mainly due to an increase in the number of units outstanding, after new units were issued earlier this year. The trust said the number of units outstanding had risen over 11 per cent from the previous quarter, as a result of new units issued in April and June. Unit holders will...
Condominium units in the Tanjong Rhu waterfront district are in the spotlight. There were eight transactions for apartments in the area, according to caveats lodged between June 14 and 21, with deals generally in the $1,160 to $1,400 psf range. The most actively traded condo seems to be the 510-unit Pebble Bay, developed by DBS Land (now known as CapitaLand). The 99-year leasehold condo was completed in...
Ming Arcade, a prime freehold commercial development located off Orchard Road, is up for collective sale by tender. The redevelopment site on 21 Cuscaden Road is zoned 'commercial' with a gross plot ratio of around 4.2 and an allowable building height of 20 storeys. With an approved gross floor area of 55,046 square feet, no development charge is payable for the site. According to sole marketing agent...
National Development Minister Khaw Boon Wan said it's more effective to release a larger number of Build-To-Order (BTO) flats per launch as it gives home buyers greater choice and improves their chances of selecting a unit. Thus, the BTO projects for the next two months will be combined into a single launch, and will likely be put up for balloting in September. Mr Khaw was speaking to reporters after...
National Development Minister Khaw Boon Wan has elaborated on who were the successful applicants in the Build-To-Order (BTO) exercises from January to March this year. In his latest blog entry, Mr Khaw said when an application rate is about 2, which means two applicants for one unit, almost all applicants will get a chance to select. This is because not all who are asked to select do so. For the January...
New private home sales slumped in June, falling by 25 per cent from the previous month to 1,182 units despite an increase in the number of new launches in the month. Data released yesterday by the Urban Redevelopment Authority (URA) showed that 1,614 units were launched last month, up from 1,215 in May. Most analysts attribute the decline in sales to the seasonal effect of the June holidays as well as...
CapitaLand, the manager of a mixed-development project in the Ophir-Rochor area, is considering the possibility of purchasing some components of the project. “We are in the midst of discussing with both Khazanah and Temasek arising from this involvement by us what our take-away (can potentially be). Do we have the right to purchase some of the buildings, the call option for some of those things? It’s...