The latest flash estimates showed private property prices rose by a slower 2.1 per cent in the first quarter from the preceding three months while HDB resale prices increased just 1.6 per cent. I must admit that I did not think it was possible to rein in HDB resale price rises so soon. This is because the problem here is not so much of dealing with strong demand but the lack of supply. Owners have to...
General
Rents for high-tech industrial properties in Singapore grew at a faster rate in the first quarter, DTZ Research said yesterday. The average rent for high-tech properties, which include business parks, rose 3.1 per cent quarter-on-quarter to S$3.30 per sq ft per month in the first three months of the year, following a 1.6-per-cent increase in the previous quarter. Rents for conventional industrial space...
Property developer CapitaLand says its wholly-owned subsidiary, CL Pinnacle, has acquired a 40 percent stake in Temasek Holdings' unit Surbana for S$360 million. CapitaLand says the purchase will complement and accelerate the growth of its value housing business initiative by leveraging on Surbana's expertise, particularly in large scale mass market residential developments. Last year, CapitaLand...
A condominium land site located on Bendemeer Road/Whampoa East has been awarded to United Engineers Developments, which submitted the top bid of S$543 million or S$8,332.87 per sqm (psm) based on gross floor area (GFA) The 99-year leasehold land parcel, sized at 18,618 sqm or 200,404 sq ft, has a maximum permissible GFA of 65,163.9 sqm or 701,424 sq ft. The site, which went up for tender on Feb 23, can...
European companies in China ranked Shanghai as the most attractive city to locate their Asia-Pacific headquarters as the Chinese city provides companies with direct access to the region's biggest market, a survey showed yesterday. Hong Kong and Singapore ranked the second and third most preferred locations out of 15 cities examined in the survey, which was conducted by the European Union Chamber of...
Analysts said property developers will soon have ample supply of prime land going forward, after the Urban Redevelopment Authority said it can build over 10,000 residential units near MRT stations, in the next 10 years and beyond. The URA announced this in its Concept Plan 2011 - an urban planning exercise done every 10 years. With their close proximity to public transport, analysts said that these land...
The Housing and Development Board (HDB) has closed the tender for a residential site at Tampines Central 7 after receiving four bids. The highest bid came from developer Sim Lian Land for S$278.8 million. The land parcel has a site area of 22,000 square metres and a maximum gross floor area of 66,000 square metres. The site, slated for executive condominium (EC) housing, was launched for public tender...
More housing will be injected in the Central and West Regions, where there are currently proportionately more jobs than homes, said National Development Minister Mah Bow Tan. Mr Mah was speaking at the URA Corporate Plan Seminar, and was revealing the key thrusts of Concept Plan 2011 that will chart the land use, infrastructure development and vision for Singapore in the next 40 to 50 years. More homes...
Hong Kong billionaire Li Ka-shing's Hui Xian real estate investment trust (REIT) said it plans to add more China-based properties to its current portfolio after its initial public offering (IPO). The REIT which launched its IPO on Monday will be the first yuan-denominated listing outside of China. It is expected to start trading on the Hong Kong Stock Exchange on April 29. Hui Xian REIT, part of Cheung...
K-REIT Asia said it will distribute 1.79 cents for its distribution per unit (DPU) for the first quarter of 2011. This is a 34.6 per cent increase from the same period a year ago. Distributable income for the group grew by 36.1 per cent year-on-year to S$24.3million due to contributions from newly acquired assets, the Trust said. This brings the annualised distribution of the REIT to 7.26 cents per...