Buyers are showing keen interest in the Lion City Hotel and Hollywood Theatre site up for sale near Paya Lebar MRT station. About 40 companies have already made enquiries said Landmark Property Advisors and Knight Frank, the marketing firms for the site. The list includes 'every major developer' in the market, Landmark director Lee Hon Kiun said yesterday. He and Knight Frank's senior manager for...
General
Prices of freehold landed housing in Singapore's prime districts have surged 5.1 per cent in the fourth quarter from the previous three months, compared to growth of 2 per cent in the third quarter. The average price of landed homes in the prime districts in the fourth quarter stands at $1,693 psf, property consultant DTZ said yesterday. Outside the prime districts, landed prices are up by 4.3 per cent to...
Liat Towers has installed and tested a new anti-flood system, in time for the wetter weather ahead. This is to prevent another episode of flooding, which caused severe damages to its basement shops in June. So the building's management has installed a S$200,000 flood barrier system. Liat Towers receives heavy rain warnings from PUB through SMS alerts. A security officer will then do a visual check to...
Analysts are confident Singapore will achieve about five per cent Gross Domestic Product (GDP) growth for the whole of next year. Economists said that is a very strong number, coming after a 15 per cent expansion estimated for 2010. But they warn of possible risks such as inflation, which might be a drag on the city-state's economy. Economists have said that 2010's growth was uncharacteristic and...
A six-storey light industrial building at Jalan Pemimpin, Sin Cheong Building, is being put up for sale by tender. The asking price will be set at an indicative range of between S$32 million and S$36 million. This is S$291 to S$327 per square foot per plot ratio. The building currently sits on freehold land of about 44,000 square feet. The District 20 Jalan Pemimpin area is located inside the Central...
Merger and acquisition activity in Singapore almost doubled this year compared with 2009, led by financial services and real estate, according to Thomson Reuters data. Total value of announced deals stood at 40.7 billion US dollars, which included SGX's proposed 8-billion-dollar takeover offer for the Australian Securities Exchange. Analysts say real estate is likely to dominate the M&A scene next...
Property firm City Developments (CDL) says it is looking at up to seven property projects in China. And its wholly-owned Chinese subsidiary CDL China believes that these projects have a strong chance of coming to fruition. Analysts say that China's recent property cooling measures may actually lower the barrier for foreign developers to enter the market. Many are confident that China's property market...
Rents along Orchard and Scotts Road edged higher in the fourth quarter after staying flat for four straight quarters. According to real estate consultancy DTZ, the average gross rent of first-storey space in the Orchard/Scotts Road area increased by a marginal 0.3 per cent or 10 cents on-quarter to S$39.80 per square feet per month. DTZ said there will be very little new supply coming on-stream in 2011...
A booming property market spurred homeowners and property developers to jump on the collective sale bandwagon this year, leading to record asking prices for landmark properties and transaction volumes that were the highest in three years. Even then, this year is just a scene-setter, analysts say. With the world awash in cheap money, local and foreign developers keen to build their land banks, and with...
The Housing and Development Board (HDB) has reached a milestone in its 50-year history, with the completion of its one millionth flat. With the completion of Treelodge@Punggol's 709 units, HDB has for the first time crossed the one-million milestone in its home-building programme. On Sunday, the keys to the one-millionth flat were handed over to the couple - Mr Wang Weiji and his wife, Christina Ng. The...