When Kit Chan performed Home at this year's National Day Parade, she struck a chord with many in the crowd, including me. This is my home. This is where people can "build our dreams together". This is what "will stay within me, wherever I may choose to go". Over the last few months, in this series of articles, I have explained how the Government strives to foster a sense of home and belonging for all...
General
Global Logistic Properties (GLP) will acquire a 19.9-per-cent stake in Shenzhen Chiwan Petroleum Supply Base, for $91 million, in a move that will strengthen its market position in China. GLP, a unit of the Government of Singapore Investment Corp, said the stake would be acquired through its subsidiary, China Logistics Holding. The subsidiary has entered into an agreement to buy 45.89 million shares for...
A hotel site at Robertson Quay will be released for sale by public tender. The Urban Redevelopment Authority (URA) said the land parcel was made available for sale through the Reserve List System in April 2010. The sale process was triggered when URA received an application from a developer to put up the land parcel for tender. The unnamed developer has committed to bid at a price of not less than...
Bedok New Town, located in the eastern part of Singapore, is getting another facelift. Senior Minister S Jayakumar said the next five-year upgrading plan for the town will be revealed in January. Prof Jayakumar was speaking on Thursday evening at a community event to recognise his 30-year contribution as MP for the estate. Bedok is one of the older estates in Singapore, and as a Member of Parliament...
Everitt Building - a four-storey commercial property at 116 Changi Road - has been sold to Roxy-Pacific Holdings' subsidiary Roxy-Pacific Developments for S$35.5 million or S$877 per square foot. The sale of the property, which has a net lettable area of 40,468 square feet, was conducted via a private treaty deal, said marketing agent CKS Property Consultants in a statement. Everitt Building is near the...
Runaway private housing prices compelled governments to impose cooling measures, with varying results Asia's residential property market stole much of the limelight this year as concerns of record property prices spurred government intervention in the form of repeated cooling measures. Singapore, China and Hong Kong were among the jurisdictions that have introduced anti-speculative measures to cool down...
The record $36 million deal for a Sentosa Cove bungalow in April this year seems to have fizzled out, with the buyer forfeiting a cool $500,000 deposit and more. Lianhe Zaobao reported yesterday that the buyer of the 14,983 sq ft, 99-year leasehold site on Paradise Island recently backed out of the deal. He may have cold feet after learning from the widespread coverage of the deal at the time that his...
CapitaMalls Asia is acquiring Penang's largest mall -- Queensbay Mall -- for RM658.3 million (S$275.6 million). It will be the firm's second mall in Penang and its fourth in Malaysia. The acquisition will be carried out through CapitaMalls Asia's subsidiaries with an asset-backed securitisation structure, the company said. CapitaMalls Asia will acquire 90.7 per cent of the Queensbay Mall's retail strata...
Rentals in the Singapore office market have continued its upswing, growing strongly in the final quarter of the year, according to property consultancy Jones Lang LaSalle (JLL). Based on its preliminary estimates, average Central Business District (CBD) Prime Grade A gross effective rent in the fourth quarter increased 7.5 per cent on-quarter to S$9.35 per square foot per month. This translates to a 19.9...
The Housing & Development Board (HDB) has launched another Build-To-Order (BTO) project - the Punggol Topaz with 1,010 standard flats - in Punggol. HDB said 95 per cent of the flat supply would be set aside for first-timer households. With the launch on Wednesday, HDB would have offered a total of 17,713 new flats for sale under the BTO and Sale of Balance Flat exercise in 2010. Punggol Topaz,...