The Ministry of National Development (MND) said it will inject about 43 sites into the government land sales programme (GLS) for the second half of this year. Out of the 43 sites, 19 sites will be on the confirmed list, while 24 sites will be on the reserve list. To address the strong demand from home buyers and developers, MND said 17 out of the 19 sites on the confirmed list will be for residential...
General
The property arm of Keppel Group in China has secured a 7.2-hectare site in Shanghai's Jiading District for S$241 million to develop around 1,000 high-rise apartments. The acquisition of the site at Nanxiang Town marks Keppel Land China's fifth residential development in Shanghai, a news release said. The deal was completed through two subsidiaries of the Keppel Land Group, namely Merryfield Investment...
WITH visitors from all over the world coming to Singapore's shores, the hotel industry here has been diversifying to accommodate different tastes and various budgets, with offerings ranging from business travel to boutique hotels. Enter The Porcelain Hotel - a boutique hotel in the Chinatown precinct with Oriental-themed spa treatments by beauty veteran Mary Chia Holdings. The Porcelain Hotel is...
JTC Corporation has awarded the tender for the business park site at Fusionopolis to Ascendas Real Estate Investment Trust (A-REIT) for S$110 million. Mr Tan Ser Ping, Executive Director and CEO of A-REIT, said the site will be developed into a modern suburban business space facility. The manager of A-REIT said the development is expected to be completed in the third quarter of financial year 2013/2014,...
The continued strength of the Singapore dollar has pushed the Republic up to sixth place on the list of the most expensive locations in Asia for expatriates to live, according to the latest Cost of Living survey from ECA International. Worldwide, Singapore rose from the 68th to the 36th spot in one year, becoming more expensive for international assignees than places like Hong Kong, New York, Amsterdam,...
The historical beachside villa of the late Choa Kim Keat has been sold to Far East Organization for S$103.8 million. In a statement, marketing agent Credo Real Estate said the deal was undertaken by Orchard Mall, a member of the Far East Organization. The single-storey conservation house built in 1898 was put up for sale last month and received five submissions during the tender exercise which closed...
Sales of luxury properties in Singapore seems to be losing its shine and has slowed down in recent weeks. That is according to industry players who say that the segment has underperformed despite the overall property boom last year. Analysts said most buyers of luxury properties here, mainly foreign investors, are turning cautious about buying their next multi-million dollar home due to the uncertain...
The Urban Redevelopment Authority (URA) has received three bids for a 99-year residential land site at Woodlands Avenue 2 and Rosewood Drive. The highest bid of S$151.5 million came from a consortium of Fragrance Group and Aspial Corporation. It works out to about S$3,950 per square metre. The next highest bidder was a consortium of Far East Civil Engineering and Sekisui House, which submitted a bid of...
The initial public offering of Perennial China Retail Trust (PCRT) has gained strong interest from both institutional and public investors. PCRT said in a statement that the S$776.2 million IPO was 1.6 times subscribed. The trust added that its initial eight cornerstone investors make up 46.1 per cent - or 516.6 million units - of PCRT upon completion of the offering. Together with the additional units...
HDB will launch a Design, Build and Sell Scheme (DBSS) housing site at Fernvale Link/Sengkang West Avenue for sale Wednesday. This year, HDB plans to launch enough sites for about 4,000 DBSS flats, an increase from last year's supply of 3,000 units. The 4,000 DBSS flats will supplement the 25,000 BTO flats and the 1,000 balance flats to be released this year. Thus far, two DBSS land parcels yielding a...