CapitaMalls Asia (CMA) is planning to acquire at least seven more malls by the end of the year, to grow its S$24.1-billion global portfolio to 100 properties. This is in line with plans to acquire another S$2 billion worth of new projects this year. All eyes are on the growth of the Chinese market, which makes up the lion's share of the portfolio in terms of gross floor area (GFA) at 70 per cent, ahead of...
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Mainboard-listed Ascendas REIT (A-REIT) has submitted a S$110 million bid for a business park site at Fusionopolis. A-REIT said this property, together with its existing properties within the one-north region and the neighbouring Science Park I and II, will enhance its market leadership position in the Business & Science Parks segment. The trust is planning to develop the business park site into a...
In his last blog post as Health Minister, Mr Khaw Boon Wan said he is determined to make housing and HDB Singaporeans' popular icon again. Recounting his earlier days in the Health Ministry, Mr Khaw said he went to the Health Ministry in 2003 during the SARS period with some trepidation, not quite sure what he was walking into. He will go to National Development Ministry, with even greater...
Property analysts are expecting policy shifts on HDB flats and mass market private homes, with the appointment of Mr Khaw Boon Wan as the new National Development Minister. They say Mr Khaw is known to be an effective game changer. With housing affordability as a hot-button topic during the elections, the analysts foresee Mr Khaw as being forceful on this issue, at least early on. Terence Wong, research...
Industrial property - a less glamorous and often neglected asset class that includes business parks, high-tech industrial space, factories and warehouses - has been thrust into the limelight in Singapore following its stellar performance in the first quarter of the year. According to the Urban Redevelopment Authority, the sector clocked rental and capital value gains of 6.3 and 8.3 per cent, respectively,...
OCBC Centre has been awarded a Green Mark Gold Award for sustainability efforts, and it is the oldest historic site to receive the prize. The award from the Building and Construction Authority (BCA) is for the bank's headquarters, as well as OCBC Centre South which was built in 1985. The S$100 million OCBC Centre development was officially opened on 1 October 1976, and at that time, it was the tallest...
Developers continued to launch new projects in May, after witnessing a 29 percent month-on-month increase in private home sales last month. Two new housing projects are set to be released this week — Belysa, an executive condo (EC) project in Pasir Ris, and Terrasse, a private condo development in Hougang. Both projects have a leasehold tenure of 99 years. The Belysa project comprises a 16-storey block...
Demand in luxury homes seems to be creeping back, if last month's new private home sales figures and reports of a fresh jaw-dropping record sale price are anything to go by. A four-bedroom unit at SC Global's The Marq on Paterson Hill recently sold at $17.5m, a record-breaking $5,842 psf - surpassing the previous high of $5,600 psf at The Orchard Residences in October 2007. A total of 15 non-landed homes...
An ultra-prime residential site in the Orchard Road area and a Shenton Way commercial property were put up for sale by tender yesterday. Separately, units at an industrial property zoned for light industrial use were also launched for sale. Elizabeth Tower, a residential property off Orchard Road, is up for collective sale with an asking price of S$630 million. Considered one of the two dozen...
Laguna Park residents will be pocketing about S$2.2 million each from the successful sale of the property, which will be put up for tender on May 24. With a plot ratio of 2.8, Laguna Park's price works out to S$975 per square foot per plot ratio. The 528 unit, 677,493 square feet property is attempting a second collective sale attempt with Knight Frank as its sole marketing agent. Knight Frank said the...