Shares of mainboard-listed Global Logistic Properties (GLP) closed 3.1 per cent higher at S$1.98 yesterday as concerns eased about its operations in disaster-struck Japan. The rally, on a volume of about 31 million shares, brought it roughly back to the pre-earthquake levels. Shares in GLP, which counts Japan as its largest market, had fallen to as low as S$1.74 following the killer quake and tsunami on...
General
Hong Kong tycoon Li Ka-shing's Beijing-focused real estate investment trust (REIT) plans to raise between 10 billion yuan (S$1.9 billion) and 12 billion yuan in an initial public offering (IPO) ahead of a Hong Kong listing on April 29, a person familiar with the situation said yesterday, in what will be the first yuan-denominated IPO outside mainland China. News of the listing of Hui Xian REIT, part of Mr...
ibis Singapore Novena, the latest addition to international hotel group Accor, welcomed its first guest at 11.00 am at its new hotel near Novena MRT station Sunday. This is the second ibis hotel in Singapore, targetting corporate and individual bookings for both mid and long-term stays. "The opening of the second ibis hotel in Singapore marks another important milestone for the ibis brand in this part of...
Hospitality stocks look set to get a short-term boost these couple of months as tourist arrivals continue to rise. Experts said they expect some tourists to re-route their vacation to Singapore instead of Japan as the country is still grappling with the aftermath of the March 11 earthquake. And this will only mean that the long-term prospects of the hospitality industry remain good. An average hotel...
A freehold residential site at 28 Lim Tua Tow Road is up for sale. The 28,676 square feet site presently accommodates three single-storey houses. Based on the Master Plan 2008, it can be re-developed into a five-storey development comprising about 43 apartments averaging 850 square feet each. Savills Singapore, which is handling the sale, said that the sale of this site is expected to be carried out...
Tulip Garden was set to be the third-largest en bloc sale in Singapore, with a reserve price of S$650 million. However, after the 31 March deadline, no developer has signed for the 164-unit Farrer Road condominium. Launched in December, the tender for the 316,708 sq ft property closed on 20 January. Three parties were believed to have expressed interest in the tender but no bids were submitted. Under...
Once known as an industrial hub, Jurong is fast transforming into one for business and leisure, driving demand and prices of homes in the vicinity, including The Lakeshore. Plans for the Jurong Lake District — which, at 360ha, is equivalent to the size of Marina Bay — comprises a commercial hub known as Jurong Gateway and a recreational-leisure hub known as Lakeside. It was unveiled by the URA in its...
National Development Minister Mah Bow Tan said the cash-over-valuation (COV) paid on resale public flats has continued to drop. He said that based on early estimates, COV levels are currently S$20,000 to S$21,000, down from S$23,000 in the last quarter of 2010. Transaction volume has also dropped, but he declined to give figures. His comments came a day after HDB released figures showing that the growth...
The Boutiq is located along Killiney Road (Somerset), in close proximity to Orchard Road - Singapore's District 9. It is within walking distance to Somerset MRT, and the various shopping malls in Orchard Road shopping belt. Schools such as River Valley Primary School and Chatsworth International School are also within easy reach. The project is inspired by chic designer boutique hotels emerging in leading...
Prices of non-landed private homes in suburban areas have picked up the fastest in the first quarter this year. Flash estimates from the Urban Redevelopment Authority (URA) showed that price increases in suburban homes beat the overall private property price index, which rose 2.1 per cent to 198.8 points in the quarter. Analysts said that suburban condominiums may continue to see price increases of...