A commercial and residential site at Hillview Avenue has been put up for public tender by the Urban Redevelopment Authority. The land parcel is on the confirmed list under the government land sales programme for the first half of 2011. The site has an area of about 1.4 hectares, and has a maximum permissible gross floor area of 40,000 square metres. This could potentially yield about 370 housing...
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CapitaMall Trust Management (CMT) has entered into an agreement to buy Iluma shopping mall in the Bugis area. It is set to pay Jack Investments S$295 million for the property. The mall has a net lettable area of over 185,000 square feet and has an occupancy rate of nearly 84 per cent. CMT expects the acquisition to strengthen its foothold in the downtown core of Singapore. It currently owns four prime...
The Housing & Development Board (HDB) has launched three Build-To-Order (BTO) projects comprising 1,593 standard flats. Two of the projects - Fernvale Flora and Fernvale Gardens - are located in Sengkang. The third, Segar Vale, is in Bukit Panjang. Units in Segar Vale cost between S$83,000 and S$354,000 while the units at the two Sengkang BTO projects cost between S$88,000 and...
The Wisma Atria shopping mall at Orchard Road is poised to undergo redevelopment. The manager of Starhill Global REIT said it plans to redevelop the shopping mall to boost its positioning on Singapore's shopping belt. Starhill said phase one of the redevelopment is expected to cost about S$31 million. This will in turn generate an additional net property income of around S$2.5 million a year. The REIT...
Mainboard-listed Metro Holdings has set up a firm with a private equity real estate fund to co-invest in Chinese properties owned by retailer Tesco. The newly set up firm, Choice Bright Holdings, will invest about US$49 million in return for a 50 per cent stake in three assets in China under Tesco. They are Tesco Chelsea, Tesco Tianying and Tesco Shenyang Beihai. Metro will contribute about one-fifth of...
Mainboard-listed Overseas Union Enterprise (OUE) has turned a full-year net profit of S$777.2 million. This is a reversal from a net loss of S$93.4 million in 2009. The firm said the better performance is on the back of a 57 per cent increase in its full-year revenue to S$215.6 million. It added that this is driven by higher contributions from its hospitality and retail divisions, while rental income...
Living in Devonshire Residences is almost like enjoying rides in the amusement park. Situated in the heart of Orchard, an amazing hive featuring reputable city attractions and up-to-the-minute style, you are pampered with choices. Forget mundane. This residential number is fashioned for you, the young, vivacious and fabulous. The project is a delightful 25-storey development that houses 84 units and 2...
Following completion in December, buyer interest has returned to the 231- unit The Trillium located along Kim Seng Road. The luxury condominium was fully sold by Lippo Group at private previews in early 2007, at prices averaging $1,700 psf. Prices of units at the project, which obtained its Temporary Occupation Permit (TOP) in December, are well supported above the $2,000 psf level. A 5,533 sq ft...
One Shenton will be the latest residential development at Marina Bay to achieve completion, with the temporary occupation permit (TOP) expected this month. “Owners of the lower floor units at One Shenton are expecting to collect their keys soon, while mid- to high-floor units will also be ready for handover in the near future,” says Kelvin Cheong, an associate director at Dennis Wee Realty Pte...
The proportion of mainland Chinese buying Singapore residential properties jumped three percent in the fourth quarter of 2010, from 20 percent in the previous quarter. For the full-year 2010, their proportion among non-Singaporean buyers hit a yearly high of 19 percent, against 15 percent in the previous year. Ms. Chua Chor Hoon, Head of DTZ South East Asia Research, commented: “Mainland Chinese buyers...