An estimated 40 per cent of total global energy consumption is attributable to buildings. And while 3D design, engineering and entertainment software is not something that you would often associate with building design, it is something that an increasing number of companies are turning to. They are using virtual solutions as an alternative to show flats and building mock-ups to cut costs and their carbon...
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Chief Executive Officer of CapitaLand Liew Mun Leong received a total of S$6.76 million in remuneration last year, up from S$5.795 million in the previous year. His bonus for the year accounts for more than half of his pay packet, coming in at S$3.6 million. Mr Liew's salary for the year comes in at S$1.299 million, which includes the annual wage supplement and employer's CPF contributions. The...
Pan Pacific Hotels will launch its flagship PARKROYAL hotel in Singapore in 2012. Designed by multi award-winning design and architecture firm WOHA, the hotel on Upper Pickering Street will feature a hotel-in-a-garden concept with sustainable features that have earned it a Green Mark Platinum rating. The 363-room property is situated at the key gateway into the Central Business District (CBD) and the...
The property investment sales market continues to manifest upbeat sentiment, amassing a healthy sum of S$9.77 billion in the first quarter of the year, riding through the Government's property cooling measures, the political unrest in the Middle East and North Africa, and the recent catastrophe in Japan, consultants Colliers International said. In a report issued yesterday, Colliers said the property...
Singapore office rentals will likely rise by double-digits this year amid expectations that foreign companies will scale up investments in the city-state given improved economic conditions, according to Keppel Land. "As the office upturn continues to run its course, property consultants are predicting another year of double-digit rental growth, barring unforeseen circumstances," said the property arm of...
Singapore’s high-end homes recorded the third largest increase in prices globally, behind Shanghai and Mumbai, according to a new report released today. Compiled by property consultancy Knight Frank and Citi Private Bank, The Wealth Report 2011 found that Singapore’s luxury home prices rose 18 percent in 2010. This was on top of a 17 percent increase the previous year, when Singapore recorded the...
Mapletree Commercial Trust, which last month delayed its initial public offering (IPO), said it is now going ahead with the deal to raise as much as S$648.7 million. The trust on Wednesday lodged its prospectus with regulators, offering 712.9 million shares at S$0.84 to S$0.91 per unit. Mapletree Commercial Trust had earlier delayed its IPO due to market volatility caused by Japan's earthquake and...
Property insiders claim that the 23,020 sq ft freehold condo Fortredale at Tanjong Rhu has been sold for approximately S$65 million, or about S$1,342 psf ppr. The alleged purchaser is a low-profile Chinese developer, which is also building a project in the Balestier area. The collective sale of Fortredale was brokered through a tender by CB Richard Ellis (CBRE), which closed on 29 March. Analysts expect...
Another four residential sites, which can potentially yield about 1,885 housing units, will be released in April to provide developers and home-buyers with more choices. The Housing & Development Board (HDB) will release a residential site at Sengkang Square/Compassvale Drive for sale on Wednesday under the Reserve List of the Government Land Sales Programme for the first half of this year. It said...
Haig Mansions, a 16-unit apartment block on Haig Road, has been put up for sale with an asking price of S$21 million, or about S$746 psf ppr. The freehold development site has a land area of 20,226 sq ft, with a gross plot ratio of 1.4 and an allowable height of up to five storeys. Based on the total gross floor area (GFA) of 28,317 sq ft, the property can yield up to 45 apartment units with an average...