Global Logistic Properties (GLP) posted a net profit of US$49.2 million for its fourth quarter ended March 2011. That is a 63 per cent drop from a year ago, when it posted a net profit of about US$133 million. GLP, a listed company which owns warehouses and other logistic assets in China and Japan, said its Japanese properties sustained minor damages from the Japanese earthquake, which contributed to...
General
Prime residential freehold property Dragon Mansion at 14 Spottiswoode Park has been put up for collective sale tender by its sole marketing agent Jones Lang LaSalle. Another Dragon Mansion site, located at 18 Spottiswoode Park, was sold to Roxy Pacific subsidiary Roxy Land in December 2009 for S$100.8 million. It has since been redeveloped into the new Spottiswoode 18. The land site for sale has a...
The Urban Redevelopment Authority has awarded the tender for a residential site at Sembawang Road and Jalan Sendudok to Hao Yuan Investment. The company submitted the highest bid of nearly S$192 million. That translates to about S$4,952 per square metre. The plot has a site area of almost 28,000 square metres, and a maximum gross floor area of almost 39,000 square metres. The tender for the residential...
Private non-landed home prices in Singapore rose slightly in April, according to the NUS Singapore Residential Price Index. The overall index increased 1.0 per cent from March to an overall index value of 162.4. The index covers completed non-landed properties in the central and non-central regions. The index for properties in the central area rose 0.8 per cent in April. Non-central properties rose 1.1...
National Development Minister Khaw Boon Wan said he has asked HDB to look into building more Build-To-Order (BTO) flats in mature estates. In his latest blog post, Mr Khaw said it is too late to prepare suitable sites for this year but HDB should be able to offer some BTO launches in mature estates next year. He said the National Development Ministry has been rather reluctant to launch BTO projects in...
Analysts said the move by the Ministry of National Development to build more HDB flats may give the local construction industry a fresh boost. The majority of first time HDB home buyers can rejoice with the MND's decision to develop more build-to-order (BTO) flats this year. And with the decision to address rental flat shortages, industry observers said the planned supply changes would be positive for...
Homes around Cairnhill and Scotts Roads are getting a buzz from new launches and the completion of condominiums in the neighbourhood. CapitaLand recently launched its boutique development, the 64-unit Urban Resort Condominium, and of 34 units launched, 21 had been sold as at end-April, with the latest median price achieved at $3,076 psf, according to the latest data by URA. At the neighbouring The...
Pine Grove and Laguna Park (picture) are currently the two most expensive en bloc properties up for sale, costing about S$1.7 billion and S$1.33 billion respectively. But analysts said Laguna Park's sea view frontage along Marine Parade Road and its rectangle-shaped land plot put it in a more advantageous position over Pine Grove in terms of attracting potential developers to bid for the sites. They...
Minister for National Development Khaw Boon Wan said there is a shortage of rental flats in Singapore, and there is a need to ramp up supply by "ten of thousands". However, Mr Khaw said it will take some time to make up this shortfall, as the construction industry is unable to cope with the sudden surge in demand. Mr Khaw spoke about the need to ramp up the supply of rental flats, during a youth forum at...
A number of shopping malls opened in Orchard Road in the last two years, increasing the prime shopping belt's retail space by about 30 per cent, but not everyone at these new spaces has been doing well. Only last week, tenants at 313 Somerset reportedly petitioned for lower rentals, complaining of poor business, raising questions over whether there is an oversupply of retail space in the area. Mr Colin...