Hong Kong-listed developer Sun Hung Kai Properties bought a rare luxury residential site for HK$4.49 billion (S$708 million) in a hotly contested government land auction on Thursday. The price was at the upper end of market expectations, suggesting the impact of the government's property tightening measures remains limited due to shortage in the supply of prime land. The winning bid at the second public...
General
10 Shelford is the ticket to a relaxed yet sophisticated lifestyle for discerning individuals who appreciate the finer things. An exclusive development with lavish units await you in the central part of Singapore. Every essence of prestige and dynamism presents itself when you inhabit the ravishing address. With incredible amenities and facilities, you lead a flawless lifestyle. Featuring 69 residential...
The 16-unit Haig Mansions, which was put up for collective sale, has been sold to Vicland Realty Co Pte Ltd for S$21.5 million, says Credo Real Estate, which brokered the deal. The sale price translates to a land rate of approximately S$720 per square foot per plot ratio (psf ppr) at a gross plot ratio (GPR) of 1.54, including the 10 per cent gross floor area (GFA) for balconies. Each owner is set to...
Property developer SC Global has posted a first-quarter net profit of S$72.8 million, 15 times that of the same period a year ago. This was mainly due to higher revenue recognition for the group's Singapore development projects as construction progressed, and the effects of the accounting changes relating to the adoption of the Financial Reporting Standard INT FRS 115. Group revenue for the quarter was...
The en bloc sale market has been feverishly picking up activity this year. Apart from more en bloc properties being offered for sale, analysts say that the average prices for the sites have also increased by more than 50 per cent compared to a year ago. However, the offer prices have yet to surpass the levels seen by the market at the peak of the property boom in 2007. Since the start of this year, some...
One of Singapore's first generation apartment developments from the post-colonial era has been put up for collective sale. The 40-unit development on 402 River Valley Road in district 10 was built in the early 1960s and has a land area of over 22,000 square feet. It is effectively a freehold site as it has a unique tenure of close to a million years. More than 80 per cent of the owners have signed a...
Malaysia is set to become the next possible destination for investors from Singapore, according to a government official from the middle-income economy while citing actions taken to strengthen the business environment. “With housing prices in Singapore escalating, Singapore-based investors are looking for neighbouring investments that offer strong alternatives with less entry barriers,” said Chris...
Property group City Developments (CDL) said its net profit surged 78 percent to S$282.34 million for the first quarter ended March 31. The property developer attributed its improved financial performance to strong profit contribution from the rental properties segment, as well as gains from the sale of investments. The investments that were sold are The Corporate Office and a strata unit in GB...
Rental growth for residential units is expected to moderate over the next few years, as 30,491 new homes come onstream in 2013. This is according to property consultants. Data out earlier from the Urban Redevelopment Authority showed that residential rental growth slowed down to about 1 per cent in the first quarter this year - the slowest pace in more than a year. And the downward trend is expected to...
A residential site at the junction of Jalan Loyang Besar and Pasir Ris Drive 4 has attracted only three bids at the close of tender. The top bid came from MCL Land at S$246.1 million, with the lowest bid coming from a partnership between FCL Topaz, F.E. Lakeside and China Construction Development at S$220.1 million. Some observers said that there were only a few bids because developers were concerned...