The Ministry of Trade and Industry launched Thursday its Industrial Government Land Sales Programme for the second half of 2011. To continue to meet the demand for industrial land, MTI said there will be three sites in the Confirmed List and six sites in the Reserve List, with a total site area of 15.99 hectares. The three Confirmed List sites are at Soon Lee Street, Lavender Street and Kallang Avenue,...
General
A historic chapter will close on Thursday at the Tanjong Pagar Railway Station. Seven trains, bound for Malaysia, will make their final journey from the station on Thursday. Many have flocked to the station to take a last train ride from the Tanjong Pagar Railway Station. One of them is 64-year-old Mohd Jani Abdul Manap, who arrived in Singapore from Kuala Lumpur to do just that. Mr Mohd Jani said the...
Auction sales in Singapore have hit approximately S$63.1 million so far this year, down 27 percent compared to the S$87 million recorded in June 2010, according to a Jones Lang LaSalle (JLL) Auction House report. The number of mortgagee sales was less than half the total sales registered over the same period last year, mainly attributed to the improved economy. Meanwhile, the proportion of owners’ sales...
Developers can earn gross profit margins of up to 76 percent from the public housing projects they develop under the Design, Build and Sell Scheme (DBSS), according to a Business Times report. In the report, five out of the seven DBSS projects launched since 2008 have achieved gross profit margins of at least 28 percent. This is similar to the 30 to 40 percent gross profit margins that real estate groups...
More measures are being taken to raise the professionalism of the real estate agency industry. Council for Estate Agencies (CEA) on Tuesday issued two practice guidelines - Ethical Advertising and Use of Prescribed Estate Agency Agreements for Residential Transactions. The Practice Guidelines on Ethical Advertising will provide directions and establishes best practices on the use of advertisements for...
Visitors to Gardens by the Bay at Marina Bay can look forward to seeing 162,900 plants comprising more than 200 species and varieties planted on 18 Supertrees, when they opens next year. Some of the bromeliads, orchids and tropical flowering climbers come from Brazil, Panama, Ecuador and Costa Rica. Ranging from 25 to 50 metres in height, some of the Supertrees will have environmentally-sustainable...
The rise in private home prices in Singapore has accelerated, reports released yesterday showed, as the Government again reminded buyers of the large supply in the pipeline in a bid to calm the market. The NUS Singapore Residential Price Index (SRPI) gained 2.5 per cent last month from April, following a revised 1.1-per-cent rise in the previous month. The SRPI is a transaction-based index that tracks the...
Singapore's office property market appears to have averted an overheating situation, with office rents in the second quarter growing at a single-digit pace amid the continued easing of occupancy rates, real estate consultancy Colliers International said on Tuesday. Average monthly gross rents of islandwide Grade A office space in Singapore recorded the third consecutive quarter of moderation in...
Mapletree Investments, a property arm of Singapore investment company Temasek Holdings, is in discussions to buy the Festival Walk retail complex in Hong Kong's Kowloon Tong district, the Sing Tao Daily reported yesterday, citing an unnamed person familiar with the matter. Sing Tao said Hong Kong conglomerate Swire Pacific may divest Festival Walk for HK$22 billion (S$3.5 billion). If successful, the sale...
Non-landed private home prices in Singapore continued its uptrend in May, rising 2.5 per cent from April. The National University of Singapore's Singapore Residential Price Index (SRPI) showed that the month-on-month increase in the overall index in May was sharper than the 1.1 per cent rise the month before. NUS's price index for properties in the central area jumped 3.5 per cent in May, while...