In a move to enable Singapore real estate investment trusts (S-Reits) to better compete against private capital and foreign Reits when making real estate acquisitions, the Monetary Authority of Singapore (MAS) is considering raising their current leverage limit of 45 per cent. Leverage, defined as the debt-to-asset ratio, measures how well-capitalised a company is. The central bank on Tuesday...
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A state tender for a 99-year leasehold private housing site along Clementi Avenue 1 has attracted five bids. Units of UOL Group and United Industrial Corporation (UIC) teamed up to place the top bid of S$491.3 million, which works out to S$788.31 per square foot per plot ratio (psf ppr). The second-highest bid came from MCL Land's Vesta SG Residences - it bid slightly more than S$471 million or...
Private properties prices in Singapore rose by 1.3 per cent in the second quarter of 2019 - catching market watchers by surprise. The rise erases the declines that had set in after Q3 last year. Based on the Urban Redevelopment Authority's (URA) flash estimate on Monday, the private property price index for Q2 would be the highest since the first quarter of 2014. Several analysts believe Q2's...
Strategically located in the highly sought-after Handy Road residential area in District 9, Haus on Handy is just a two minutes’ walk to the Dhoby Ghaut MRT interchange for the North-South, North-East and Circle Lines. Haus on Handy is close to Plaza Singapura shopping mall and a host of cafes, restaurants, parks and entertainment facilities such as cinemas, concert halls and art galleries. Several...
Private home prices in Singapore rose 1.3 per cent in the second quarter, reversing two straight quarters of decline, according to flash estimates released by the Urban Redevelopment Authority (URA) on Monday (Jul 1). The private residential property index increased 1.9 points from 148.6 points in the first quarter to 150.5 points in the second quarter. This is an increase of 1.3 per cent compared to...
Prices of resale flats for the second quarter of this year fell 0.2 per cent from the first quarter, according to flash estimates released by the Housing and Development Board (HDB) on Monday (Jul 1). The resale price index - which provides information on the general price movements in the resale public housing market - is estimated to have dipped slightly from 131 to 130.8. Resale prices for HDB...
Peak Tower Corporation, which is acquiring Selegie Centre in a collective sale, is seeking approval from the Urban Redevelopment Authority (URA) for its plans to build a hotel on the site, which is presently zoned for commercial and residential use. An earlier application by Peak Tower for a proposed one block, 11-storey hotel on the site and to change the use of the site was turned down by the URA in...
Prices of completed private apartments and condominiums in Singapore inched up 0.2 per cent in May from the previous month, continuing its advance after an upwardly revised 0.3 per cent increase in April. The figures are flash estimates released on Friday by the National University of Singapore (NUS) for its Singapore Residential Price Index (SRPI), which tracks prices of completed non-landed private...
The Government has reduced industrial land supply for the second half of 2019, as a global manufacturing slowdown and rising trade tensions have lowered Singapore's growth outlook. Under the Industrial Government Land Sales (IGLS) programme for the second half of 2019, the Government will release four sites in the confirmed list and six sites in the reserve list, with a total site area of 9.98 hectares...
Alpha Investment Partners has sold a 241-room hotel in Singapore’s Novena area for just under S$170 million. The private equity division of Keppel Capital has already handed over the Ibis Novena Hotel to companies controlled by Bangladeshi tycoon, Mohammed Saiful Alam, chairman of Chitttagong-based conglomerage S Alam Group, in a deal which closed on Wednesday. Through the off-market transaction,...