Hawaii Tower, on Meyer Road, is expected to be launched for sale next week with an indicative price of $700 million, or approximately $1,401 psf ppr, including a $55 million development charge (DC). The site, which sits on a 192,340 sq ft plot, is zoned for residential use with a gross plot ratio of 2.8 and a height of up to 36 storeys. It can be developed into a new condominium with approximately 430...
General
Prive, the first executive condominium (EC) in the new waterfront township of Punggol, will be open for preview on Friday. Two to four bedroom units, in sizes ranging from 775 sq ft to 1,442 sq ft, are available at an average price of about $660 to $700 psf. The project, which boasts quality finishings and a basement carpark as well as a yoga deck and spa pods, is developed by NTUC Choice Homes...
The Housing Development Board (HDB) has received two bids for the sale of a site at Upper Serangoon Road. The 20,000 square metre site is designated for public housing under the Design, Build and Sell Scheme (DBSS). It was launched in October and the tender closed at 12 noon on Tuesday. Kwan Hwee Investment made the top bid at S$155 million which amounts to about S$2,217 per square metre. Meanwhile,...
Non-landed private home prices saw a 0.7 percent decline in October, after a 1.1 percent monthly increase in both August and September, according to the Singapore Residential Price Index (SRPI) of the National University of Singapore (NUS). The decline was attributed to falling prices in the “non-central” and “central” locations, which saw a drop of 0.5 percent and 1.1 percent, respectively. The...
Police have arrested a 41-year-old man and his 43-year-old female accomplice who are believed to be involved in at least two cases of rental scams. Their victims were cheated of advance rental payments and deposits amounting to about S$2,600. Police said their investigations revealed that since early November, the male suspect had advertised his flat for rent on the Internet and newspaper. Unsuspecting...
Suntec Real Estate Investment Trust is launching a private placement of between 310.7 million and 320 million new units at an issue price of between $1.34 and $1.38 each. In a stock exchange filing yesterday, Suntec REIT said the net proceeds of the placement would amount to around $417.9 million, after deducting estimated fees and costs. This amount will be used to finance part of the REIT's $1.49...
Rentals for primary, secondary and suburban shopping areas in Singapore are expected to remain stable with some marginal upside over the next 12 months, according to the latest report from Jones Lang LaSalle. It said vacancies of retail space are likely to stabilise as the market finds its equilibrium one year on, from the large addition of supply along Orchard Road. The property consultant noted that...
Global Logistic Properties Ltd (GLP), reported on Monday its second quarter net profit rose 179 percent from a year ago, helped by higher rental income, a stronger yen and revaluation gains. GLP, a real estate unit of the Government of Singapore Corp, owns warehouses and other logistics assets in China and Japan Net profit for the quarter ended September 30 rose to US$74.2 million compared with US$37.4...
Starwood Hotels and Resorts will be the first to open a hotel at Marina Bay's Asia Square, located at Singapore's newest financial district. In a release, Starwood Hotels & Resorts, which owns the Westin brand, said the hotel will be operational end 2013. The hotel, occupying over 300,000 square feet, will offer 306 rooms. The rooms will take up 15 storeys (32nd to 46th floors) of Asia Square Tower...
HDB is launching a tender for a mixed commercial and residential sale site in Punggol Town Centre on Tuesday. It said the site can potentially yield 50,400 square metres of gross commercial space and 685 housing units. The site, occupying 3 hectares, is being released for tender under the Confirmed List Government Land Sales (GLS) Programme for the second half of this year. HDB said this development...