Global Logistic Properties (GLP) will be joining the Straits Times Index (STI), the Singapore Exchange's (SGX) benchmark of the country's 30 biggest listed companies, replacing SMRT Corp. As part of the half-yearly review by Singapore Press Holdings (SPH), SGX, and the FTSE Group, SMRT will now join the FTSE Mid-Cap Index. The STI reserve list, comprising the 5 highest-ranking non-constituents in order...
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Freehold residential development Grand Tower is up for collective sale for an indicative price of S$92 million. This works out to about S$1,430 per square foot per plot ratio, said its sole marketing agent Savills Singapore. Each owner is expected to get S$3.28 million from the sale. The 33-year-old single tower block is located in Novena and is the development's first collective sale. Sitting on 27...
A Good Class Bungalow (GCB) at Cluny Road has fetched a record land price per unit of S$33 million (approximately S$2,038 psf) on a freehold land area of approximately 16,200 sq ft. This amount surpasses the previous record of S$1,899 psf on land area that Chew Hua Seng, Chairman and Founder of Raffles Education, paid for 32H Nassim Road in 2007. The latest transaction was handled by Singapore Home...
Property developer Yanlord Land has appointed HSBC, JP Morgan and RBS as joint lead managers and bookrunners for its proposed US dollar bond offering. In a statement to the SGX on Wednesday, Yanlord said the issue was expected to be rated "Ba2" by ratings agency Moody's and "BB" by Standard & Poor's. The Singapore-listed company said the bonds would be guaranteed by certain subsidiaries of the...
Ho Bee Investment expects its new office development at One-North in Buona-Vista to yield higher rents than initially projected, due to the growing demand for office space. Developers are building more office blocks outside of the central areas as robust economic growth pushes up demand for business space. It now projects that the project may fetch rental rates as high as S$8 per square foot. This...
A hotel site at Robertson Quay has attracted a total of nine bids from developers at the close of its tender by the Urban Redevelopment Authority (URA). The highest bid of S$127.8 million was jointly handed in by Novel Developments and New Vista Realty. That translates to S$10,098 per square metre. The second highest bid of S$127.1 million came from RB Capital Robertson City, while the third highest bid...
The Housing and Development Board (HDB) has closed the tender for a residential site at Clementi Avenue 4 after receiving 11 bids. "This is the highest number of bids submitted since the Design, Build & Sell Scheme started in 2006," said Nicholas Mak, executive director of the research & consultancy department at SLP International Property Consultants. The highest bid of S$224 million came from...
SBS Transit has said that Woodleigh, the last unopened station along the North East Line, will begin revenue service on Monday June 20, thanks to an increase in new developments that have come up in the area. With its opening, residents in new developments like 'Blossoms@Woodleigh' and 'Parc Mondrian' can hop onto the 20-kilometre line to get to places like Punggol and HarbourFront in less than 19...
Far East Organization has purchased Amber Glades through a en bloc sale. The price is said to be $118.12 million, which works out to about $1,066 per square foot per plot ratio, inclusive of about $4 million in development charges (DC). The deal is subject to approval by the Strata Titles Board. Amber Glades has a freehold land area of 40,917 sq ft and is zoned for residential use with a 2.8 plot...
The Singapore government is planning to release new guidelines on promotional materials for new houses, in order to better help home buyers make decisions. National Development Minister Mah Bow Tan announced last week that stricter rules will likely be introduced to guarantee that developers’ showflats resemble the actual apartments. Mr. Mah’s announcement comes after the Urban Redevelopment...