A community park will be built in Holland Village by the fourth quarter of next year. A joint statement from the Urban Redevelopment Authority (URA) and the National Parks Board (NParks) said the park would be sited next to the entrance of Holland Village Circle Line (CCL). It would serve as a new gateway to Holland Village, as well as a green refuge for visitors and residents. New features such as park...
General
The single-biggest attraction of PoMo, the Selegie Road mall formerly known as Paradiz Centre that has been put up for sale, is its busy, city-fringe location. But converting footfall into shopping revenue may need a new tenant mix, analysts say. "At this moment, the tenant mix of the mall is not attractive," said Mr Samuel Tan, course manager for retail management at Temasek Polytechnic. "It does not...
Leisure and work opportunities will attract developers Developers are keen on the long-term potential of Tanjong Pagar's inner-city living, analysts say, with sites in the area attracting record bids and transaction prices. Guocoland's bid last month for a white site above Tanjong Pagar MRT Station for $1.71 billion remains the highest on record for a Government land sale. The bid translates to $1,006...
Without a doubt but that alone is not going to stop buyer demand Since the announcement last month of another bumper crop of land for new residential projects for the first half of next year, there has been a pick-up in the number of comments from the real estate industry raising concerns about a potential oversupply of residential housing. Most developers, though, do not appear to be too concerned as...
Over the last few months, I have explained in this series of commentaries how the Government provides affordable housing for the majority of Singaporeans, and how these flats are not only a home, but also an asset which grows in value to support social mobility and provide for old age. Many readers have said they now understand the issues better and agree with the hard choices that the Government has to...
Rising consumerism fuelling demand for more quality malls It is a typical evening after work - groups of fashionably-dressed office women walk into a ZARA store for some retail therapy and to de-stress after a hard day's work. After trying the latest in women's fashion, they walk out with happy smiles and paper bags of their purchases in hand. This scene is played out every night - except that it is not...
Market experts said Selegie road mall PoMo which was put for sale on Wednesday will see much interest from investors. Experts said this is due to its busy, city-fringe location but added that a new tenant mix is needed to attract more shoppers. PoMo underwent a S$20-million refurbishment to increase its retail space three years ago. Formerly known as Paradiz Centre, the retail and office development has...
Good Class Bungalow (GCB) deals in Singapore hit $1.85 billion year-to-date, an increase of 7.3 percent from the $1.72 billion deals recorded last year, according to CB Richard Ellis. Also, at least $100 million worth of GCB deals are expected to be exercised before the year ends. The $1.85 billion worth of GCB deals so far this year includes 101 transactions, slightly lower that the 109 GCBs sold in...
Singapore's commercial property sector will likely see a 15-20 per cent increase in rental values next year, after a 22 per cent growth this year, according to CBRE. This will be driven by strong occupier demand for office space in Singapore despite plenty of supply coming on stream. CBRE points to the Marina Bay Financial Centre (MBFC) as one example of strong demand. The first phase of MBFC was fully...
Owners of Tanglin Shopping Centre in Tanglin Road have put the building up for collective sale, which could be the biggest of its kind in the area. The property now comprises 363 shop, office and medical units, but can be redeveloped to have homes, shops, offices, or hotel rooms. Reports have put the reserve price for Tanglin Shopping Centre at $1.25 billion. This works out to a record price of about...