The Housing and Development Board (HDB) will launch the tender for a residential site at Punggol Field Walk on Wednesday. Slated for condominium development, the site can potentially yield 550 dwelling units. It's being released for tender under the Confirmed List of the First Half 2011 Government Land Sales Programme. Located near Sungei Serangoon, residents will enjoy convenient access within Punggol...
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Home loans have been a major driver of the lending business for the three local banks, but they could also be a drag in the event of a downturn in the property market, according to global debt watcher Fitch Ratings. Fitch Ratings estimates that home mortgages and construction-related loans account for 50 per cent, or half, of the three local banks' total loan books. The latest figures from the Monetary...
Asia Square Tower 1, located at Shenton Way, has already leased out 62 per cent of its office space and pre-let more than half of the building. The developers of the building, MGPA, gave the update after it was awarded its Temporary Occupation Permit (TOP) on June 21. MGPA said it was awarded the land parcel in September 2007 and construction was completed in less than four years, making it the fastest...
The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at West Coast Link/West Coast Crescent to Boo Han Holdings. The developer submitted the highest bid for the land parcel at nearly S$175.8 million, which works out to about S$4,958 per square metre of gross floor area. A total of 12 bids were received for the site, starting from a low of about S$127.1 million from CEL...
The Urban Redevelopment Authority (URA) received a total of nine bids for an industrial site at Woodlands Avenue 12 (Parcel 2) at the close of the tender on Tuesday. The top bid of S$84.24 million was submitted by OKH Development. It works out to about S$1,636 per square metre. The second highest bidder came from NSS Properties at S$76.48 million, or S$1,485 per square metre, followed by a joint bid from...
The Urban Redevelopment Authority (URA) has awarded the tender for the industrial site at Irving Place to developer Oxley Vista. The company submitted the highest bid of nearly S$43.4 million. That translates to about S$3,697 per square metre. There were 15 bids for the site off Upper Paya Lebar Road. Launched for sale on 25 April 2011, the 60-year leasehold site has a total area of 3,353 square metres...
Resale prices of private homes continue to rise in the second quarter of this year. According to DTZ Research, resale prices of private residential properties increased at a faster rate across all segments in the second quarter of this year compared to the first. It says the average resale price of leasehold condominiums in the suburban areas rose the fastest by 3.9 per cent on-quarter, compared to 0.8...
Singapore's office property market appeared to have averted an overheating situation, with office rents in the second quarter this year maintaining at single-digit growth. According to the latest quarterly office property market research report by Colliers International, this comes amid the continued easing of occupancy rate. Average monthly gross rents of Grade A office space in Singapore recorded the...
The Urban Redevelopment Authority (URA) on Tuesday launched the tender for a commercial site at Robinson Road and Cecil Street. The land parcel, located within walking distance to Tanjong Pagar MRT Station, occupies a prime location in the heart of the Central Business District. The 0.29 hectare site, which can generate about 32,000 square metres of gross floor area, is poised to be developed into a...
Singapore investment firm Temasek Holdings and Malaysian sovereign wealth fund Khazanah Nasional will jointly develop prime land parcels in both countries into projects worth about S$12.2 billion. The two investment firms have established two subsidiaries - M+S Pte Ltd and Pulau Indah Ventures Sdn Bhd - for the purpose. Temasek has a 40 percent stake in M+S while Khazanah owns the remaining 60 percent...