Hao Yuan Investment has submitted the highest bid of S$191.8 million for a residential site along Sembawang Road and Jalan Sendudok. The Urban Redevelopment Authority (URA) closed the tender for the site, after receiving six bids in total. The 27,600 square metre site, with a 99-year lease, was launched for tender on March 29. CBRE Research said the site seems fairly popular based on the number of bids...
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Real estate firm Mapletree Investments said it plans to launch three property funds worth US$2 billion over the next few years. The funds will invest in commercial and mixed-use properties in China, Vietnam and Japan. Mapletree, the real estate arm of Temasek Holdings, also announced a 90 per cent increase in its profit after tax to S$747 million for the full year ended March 31, driven by higher rental...
Southeast Asia's largest property developer CapitaLand has submitted the highest bid of S$968.99 million for a vast "white site" property in the Jurong Lake district. The Urban Redevelopment Authority (URA) closed the tender for the site, after receiving five bids in total. The top bid also translates to about S$1,012 per square foot per plot ratio. The next highest bid of S$917 million came from the...
The Securities Investors Association (Singapore), or SIAS, has called for strict regulation of land banking investments. This came after investors filed complaints against British land banking firm Profitable Plots. They claimed that the firm's directors were not transparent with their investments. However, experts said that a regulatory framework for land banking investments would be difficult to...
Foreign buyers accounted for 16 per cent of private home purchases in Singapore in the first quarter of this year, setting a new record high, according to real estate consultant DTZ Research. The previous high of 15 per cent was recorded in the fourth quarter of 2007. DTZ defines foreign buyers as non-Singaporeans and non-permanent residents. Singaporeans' share of private property purchases fell to 67...
Industrial and residential projects with affordable prices continue to attract demand. MCL Land has marketed 150 of the 200 units it has launched at its 414-unit Terrasse condo in Hougang. “Before we began sales last Saturday (May 21), we had intended to release only 120 units initially. But because demand was strong, we released another 80,” said Koh Teck Chuan, MCL Chief Executive. The units in...
SINGAPORE: The Urban Redevelopment Authority (URA) has launched the tender for an industrial site at Tuas View Square. The land parcel was available for sale through the Reserve List system in November last year. The tender was triggered because URA has received an application from a developer for the site. The developer has committed to bid at a price of not less than S$4.9 million for the land...
Laguna Park, a residential redevelopment site in District 15, is up for en bloc sale at an expected price of S$1.33 billion. This is the second time the 33-year-old development has been put up for sale, with a previous attempt in October 2009. Sole marketing agent Knight Frank said the prime leasehold site is located along Marine Parade Road and has a land area of nearly 63,000 square metres. The land...
Brookvale Investments has launched a friendly takeover of mainboard-listed Allgreen Properties by offering S$1.60 per share for the developer. The cash offer values Allgreen at S$2.54 billion, which is a premium of 39.1 per cent over the stock's closing price of S$1.15 on Friday. In a filing with the Singapore Exchange, Allgreen also said the offer price is about 20.3 per cent higher than the highest...
The property market may see some radical changes in the coming months, according to analysts. They say the newly sworn-in Cabinet is expected to carry out extensive review of current housing policies. This may include a review of the government land sales programme and moderating home prices. However, some analysts say the population must continue to grow, otherwise the housing market will risk an...