Among business centres in Asia Pacific, Singapore and Beijing saw landlords enjoying the strongest growth in rentals in the third quarter of 2010. According to a Jones Lang LaSalle survey, both cities' Grade A rentals recorded a quarterly net effective rental growth of 10.9 per cent. Overall, the Asia Pacific Office Rental Index showed an increase of 1.8 per cent in the third quarter. In terms of...
General
Sabana REIT priced its initial public offering (IPO) on Monday at S$1.05 per unit. This will be the first Shariah-compliant real estate investment trust (REIT) listed on the Singapore exchange (SGX), as well as the world's largest listed Shariah-compliant REIT by total assets. The public offer will close on November 24, and trading of the units on the SGX is expected to commence at 2pm on November...
Prices at the 646-unit Icon on Gopeng Street reached a new high of $2,515 psf on Oct 15, when a 1,119 sq ft penthouse on the 46th floor was sold for $2.8 million. This breaks the previous record of $2,457 psf in November 2007, when another similar-sized unit on the same floor went for $2.75 million. The new high set at the four-year-old, 46-storey condominium was for a prime unit sold by developer Far...
Sabana Shariah Compliant REIT, which owns industrial properties in Singapore, has priced its IPO at $1.05 a share, the midpoint of an indicative range, to raise $637 million, IFR reported on Friday, citing sources. Sabana REIT, Singapore’s first Islamic REIT and the largest Shariah-compliant property trust anywhere, is offering 605.8 million units in the initial public offering (IPO). It had originally...
Strategically located in the prime area of District 10, d’Leedon sits on an expansive 840,049 sq ft, 99-year leasehold site along Farrer Road. The first condominium in Singapore to be designed by internationally-renowned Pritzker Architecture Prize winner Zaha Hadid, the landmark project will comprise a total of 1,715 units – comprising 1,703 apartments in seven 36-storey towers and 12 exclusive...
One Finlayson Green's strata offices and retail units in the Central Business District are on the market but investors have to buy entire floors. The prime location - near Raffles Place MRT station - and tight market should stimulate demand. The 19-storey building, which has retail outlets on the first and second levels, has a total saleable floor area of about 96,132 sq ft. Each floor measures up to...
Yishun estate has welcomed four new housing projects in the last three months. Yishun Greenwalk, one of two Build-to-Order HDB projects, has attracted more than 1,000 applicants in two days. It offers more than 1,100 flats for first-time households. The HDB is also rolling out the Adora Green under the Design, Build and Sell Scheme. Executive condominium, The Canopy, is also adding to the buzz in...
Pine Grove residents may be sitting on an enbloc gold mine, but analysts have said realising the dream of a collective sale may be fraught with hurdles. With a hefty asking price of S$1.7 billion and with more land sites launching soon, developers may pass on the 660-unit property. Situated along Ulu Pandan Road, Pine Grove has an 80 per cent approval for its third enbloc tender. And with its location...
Hong Kong's government on Friday unveiled its latest attempt to cool the red-hot property market, amid public anger at spiralling prices and fears highlighted by the IMF of a real estate bubble. Financial Secretary John Tsang announced a sliding scale of new stamp duties to take effect midnight Friday aimed at restraining what he called "short-term speculative" inflows into the glitzy financial hub's...
Commercial real estate in Asia Pacific continues to offer attractive returns to investors, led by office properties. This is according to the latest all-property DTZ fair value index for the third quarter. The index measures the attractiveness of commercial real-estate markets around the world. While the overall index score for Asia Pacific has dipped only slightly, suggesting a small drop in...