Global Logistic Properties (GLP) has signed a strategic partnership framework agreement with Unicharm, a Japan-based leading manufacturer. The agreement outlines a strategic partnership in the development of logistics facilities for manufacturing bases of Unicharm in China. It starts with a Build-to-Suit (BTS) development agreement with Unicharm and Tianjin Xiqing Economic Development Area (XEDA), to...
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Analysts have said buyers of shoe-box apartments may have difficulties selling them in future, even though their current rental returns of about five per cent make such apartments popular with small-time investors. Although they are small in size, they are priced at about S$600,000. Analysts added that at this price, buyers are still able to afford them. In one of his recent blog posts, National...
The Singapore and Malaysian governments plan to open a rapid transit link between the city-state and the neighbouring city of Johor Bahru in Malaysia's south by 2018, both governments said in a joint statement on Monday. "The terminating stations of the (rapid transit system) link will be in the vicinity of JB Sentral, Johor Bahru and in the vicinity of Republic Polytechnic, Singapore," the statement...
Some S$1.7 billion in collective sales have been transacted so far this year. According to property consultant Credo Real Estate, the figure is almost the same as the collective sales transacted last year. One of the latest transactions is a 40-unit walk-up apartment development on River Valley Road, which fetched S$70.5 million. Credo said successful deals over the past 18 months have been relatively...
A 40-unit walk-up apartment at 402-414 River Valley Road has been successfully sold en bloc for S$70.5 million to Alliance Land. This translates to a land rate of about S$1,139 per square foot per plot ratio, with a gross plot ratio of 2.8 for the 22,000-square foot site. If the 10 per cent gross floor area for balconies is included, it will work out to S$1,035 per square foot per plot ratio, at a gross...
The Urban Redevelopment Authority (URA) has released the detailed sales conditions for a hotel site (Land Parcel B) located at Kallang Riverside. The land parcel, which can potentially yield about 490 hotel rooms, has an area of about 0.82 hectares with a lease period of 99 years. The site has a maximum permissible gross floor area of about 22,900 square metres and a maximum allowable building height of...
A freehold industrial building at 42 Alexandra Terrace has been put up for sale at an indicative guide price of S$21.8 million or about S$715 per square foot. The six-storey building is located next to the recently completed Mapletree Business City and sits on a land area of around 13,600 square feet. It has a Gross Floor Area of approximately 30,470 square feet. The property is situated in the business...
Property agents have been reporting a drop in Good Class Bungalow (GCB) sales, as the gap between asking and offer prices widens. About S$750 million worth of sales have already been closed so far this year, for the residential market’s ultra-elite segment in Singapore. In 2010, a record S$2.3 billion worth of GCB deals were witnessed. Among the latest transactions in Singapore’s GCB areas is the...
Local banks face the risk of taking a hit if there is a downturn in the property market given their heavy exposure to the real estate sector, according to global debt watcher Fitch Ratings. Home mortgages and construction-related loans account for 50 per cent, or half of local banks' total loan portfolio, Fitch Ratings financial institutions director Alfred Chan said . He pointed out, however, that the...
Mapletree Investments has broken ground for its VivoCity Nanhai in Guangdong, China. The four-storey shopping mall is slated to open in 2014 and will have a gross floor area of more than 100,000 square metres. It is part of the proposed 42-hectare Nanhai Business City developed by Mapletree that will feature retail, residential, hotel and office components. Nanhai is where the cities of Foshan and...