Most indicators are pointing to a gradual moderation in the property market in Singapore. But latest figures showing a 1.4 per cent month-on-month growth in home loans have got some analysts wondering if the outlook is as clear cut. Latest figures from the Monetary Authority of Singapore (MAS) showed that building and construction loans growth in May fell 13 per cent month-on-month to S$59 billion. New...
General
Singapore's industrial property market showed signs of a pick-up in the second quarter. According to Colliers International, average monthly gross rents for prime factory and warehouse spaces surged between 6 and 7 per cent on-quarter. This was the fastest quarterly growth in three years. But rents for all segments of prime factory and warehouse space are still below peak rates in the second half of...
The tender for the collective sale of Laguna Park has closed with no confirmation of a buyer. Its marketing agent Knight Frank declined to elaborate if any bids were received in the tender, or if the bids matched its reserve price. But Mr Nicholas Wong, executive director of Investment at Knight Frank said that it is, "in the process of negotiating with an interested party". The marketing agent has...
Property group CapitaLand on Wednesday said that it has formed a subsidiary, Storhub Songjiang (Shanghai) Co., Ltd, incorporated in the People's Republic of China, as part of its ongoing business development. The principal activity of the subsidiary is property holding and its registered capital is about S$9.36 million. StorHub Songjiang (Shanghai) Co., is a wholly-owned subsidiary of StorHub Holding...
Crystal Tower, located at Ewe Boon Road, has been put up for collective sale by tender at an indicative price of S$155 million. It is a 28 unit, 11-storey residential development. The 60,482 square foot residential freehold site has a gross plot ratio of 1.6. Its elevated site enjoys an unobstructed view of the Bukit Timah residential district. Its marketing agent Colliers International said the...
The Urban Redevelopment Authority (URA) has awarded the tender for the industrial site at Tuas View Square to SCB Terraform Pte Ltd. SCB Terraform submitted the highest bid of S$7.33 million for the site. That translates to S$1,882.06 per square metre of gross plot ratio. The site was launched for public tender on May 24 on a 45-year lease and closed on June 29. The 4,352.5-square metre site has a...
Daisy Apartments, a residential redevelopment site near Serangoon Gardens, is up for en bloc at an expected price of above S$14.5 million. Property consultants Credo Real Estate said the freehold site is located at Daisy Road and has a land area of more than 13,000 square feet. The land is zoned for Residential use at a plot ratio of 1.4 and an allowable height of up to five storeys. All the owners of...
Property developer Ascendas Group has said it is looking at listing a new fund, but is still weighing all options before it makes a decision. This came in response to a report by South China Morning Post about its plans to list a yuan-denominated real estate investment trust (REIT) of its China property assets in Hong Kong. The move is said to be in line with the growing interest in renminbi products and...
The decision by National Development Minister Khaw Boon Wan to suspend future land sales under the Design, Build and Sell Scheme (DBSS) will be welcomed by all those who think that HDB land should be for the masses and not for the select few. In January, I had called on the Housing & Development Board to get out of the DBSS programme when it should be busy catering to the thousands clamouring for more...
Global Logistic Properties (GLP), which owns warehouses in China and Japan, said that it had submitted a bid to acquire a portfolio of over 20 industrial assets in Japan from LaSalle Investment Management, confirming earlier media reports. If its bid is successful, GLP, partly owned by Government of Singapore Investment Corporation (GIC), expects to acquire the portfolio in a fund structure with one or...