Gone are the days where size matters for home seekers. Smaller apartments are making their presence. In the public housing sector, 3-room and studio flats have been re-introduced in new Build-to-Order HDB projects, while new private residential offerings seem to be increasingly smaller, yet popular. Colloquially referred to as "Mickey Mouse" or "shoebox" apartments, there has been an increased demand for...
General
Pan Pacific Hotels Group yesterday announced that its wholly-owned subsidiary, Success City, had agreed to acquire Hilton Melbourne Airport Hotel in Australia for about $141.6 million as part of its regional expansion plans. Pan Pacific, part of the UOL Group, said it planned to manage the 276-room hotel under its Park Royal brand. The acquisition could, through economies of scale and greater brand...
The Chinese division of Singapore-listed City Developments Limited (CDL) has acquired its first development site in Chongqing, China, for 232 million yuan (about S$45 million). CDL China, which was formed in August this year, was awarded the residential site at a government land auction last Wednesday. CDL said the plot has a site area of more than 27,000 square metres, and is located on a historical...
With more prime real estate changing hands, the sale value at property auctions in Singapore has shot up 33 per cent from the previous year to a total of S$223.9 million in 2010, according to international property consultant Colliers International. This rise above 2009's sale value of S$168.39 million is still 45 per cent lower than the decade-high of S$407.43 million recorded in 2007. The increase in...
The Urban Redevelopment Authority (URA) has awarded the tender for a residential site at Seletar Road to Asplenium Land. The company submitted the highest bid of S$123 million for the land parcel, which translates to about S$5,033 per square metre. Tender for the site was launched on October 26 and closed on December 14. The land parcel has a site area of over 17,400 square metres and a maximum...
Analysts say surge in private home sales reinforce the case for harsher measures A surprising surge in private home sales last month - coming at a time when the Government's cooling measures were expected to take effect - has prompted analysts to predict that another round of intervention could be on the cards. Private home sales in November jumped almost 80 per cent from the previous month, bringing the...
The tender for Serene House has been awarded to luxury-home developer Shelford Properties for S$99 million. A total of seven bids were received for the residential freehold site. Marketing agent Colliers International said there were major and mid-tier property players who bid for the site. The winning bid of S$99 million translates to S$1,400 per square foot per plot ratio. Serene House is a...
A total of 1,909 private residential units, excluding executive condominiums, were sold in November, up from a total of 1,058 units taken up in the previous month, data from the Urban Redevelopment Authority showed. The data, released every month, showed sales outside the prime central region (ORC) led with 1,229 units sold, followed by rest of central region (RCR) at 467 units, and core central region...
A Malaysian lifestyle furnishing store has estimated that it suffered some S$800,000 worth of losses due to a late handover of premises by nex shopping mall. King and King Wong said it was handed the premises more than a month late - on December 1, instead of mid-October. The delay saw the lifestyle furnishing store missing out on the early crowds and potential revenue. The store said the delay was due...
The Urban Redevelopment Authority (URA) has received 11 bids for the sale of a site at Seletar Road at the close of the tender on Tuesday. The land parcel, which has a site area of over 17,400 square metres, is designated for residential housing. The maximum permissible gross floor area is about 24,400 square metres. The highest bid of S$123 million came from Asplenium Land. That translates to about...