Property developers are set for project launches - from one-room units to upscale penthouses - over the coming weeks. Those developers with new projects include UOL Group, Sim Lian Group, and United Engineers (UEL). CapitaLand's The Nassim and its 1,715-unit condo on the Farrer Court site (D'Leedon) are also expected to be launched by the end this year. UOL Group has today released 100 out of the 351...
General
Mainboard-listed Second Chance Properties on Friday said that its net profit for its fiscal first quarter rose 27.94 per cent from a year earlier to S$5.92 million. Meanwhile, revenue increased 8.89 per cent from the year-earlier period to S$19.3 million. The company said its apparel, properties and securities units performed well. The only exception was its gold division, where revenue fell by 6.36 per...
Overseas properties may offer good returns but risks abound Signs of a slowdown in Singapore home sales showed in both the number of primary and secondary transactions following the Government's announcement of property market cooling measures on Aug 30. The number of developers' sales, subsales and resales fell by about 28 per cent, 52 per cent and 42 per cent, respectively, in September from the...
Sabana Reit, poised to become Singapore's first listed Syariah-compliant real estate investment trust (Reit), is likely to be well-received as low deposit rates drive investors to seek higher yielding instruments, analysts say. Sabana Reit is seeking to raise as much as $696.1 million, according to its prospectus filed with the Monetary Authority of Singapore. It is set to become the world's largest...
The headline of a news report for a recent tender for private housing development screamed "Serangoon site draws just 4 bids". Another said the top two bids were just 2.6 per cent apart. It was alluding to the fact that the margins between the top bids before the Aug 30 cooling measures were mainly in the double digits, peaking at 31 per cent for a condominium plot in Yishun in August. They are now in the...
Recently, the Housing and Development Board was conferred the UN-Habitat Scroll of Honour Award - the most prestigious human settlements award in the world. In recognising Singapore's achievement, the UN-Habitat Chief of Information Services said: "It's really quite impressive for a country to provide adequate shelter and home ownership for so many." Ask most housing experts and observers, and they will...
Property developer UOL Group said it will release 100 units of its Spottiswoode Residences project for preview on Friday. UOL expects the units to fetch about S$1.05 million for a one-bedroom apartment to S$2.67 million for a three-bedroom unit. The developer added that sizes for typical one-bedroom to three-bedroom apartments vary from about 600 square feet to 1,400 square feet. This works out to a...
Shaw Brothers Limited has sold the former Singapura Theatre site at No 55 Changi Road to a consortium for $44.9 million. The consortium includes Roxy-Pacific Holdings and Macly Capital. This works out to $768 per square foot of potential gross floor area for the freehold property. No development charge (DC) is payable for the 19,497 sq ft site, which is zoned for commercial use with a 3.0 plot ratio under...
SC Global Developments Ltd reported that its net profit for the third quarter ended Sept 30 surged to $33.42 million from $5.42 million a year ago. The six-fold rise in profit after tax and minority interests was mainly due to higher revenue recognition for the group's Singapore development projects (including The Marq on Paterson Hill, Hilltops and Martin No 38) following the progress of construction as...
The Housing and Development Board (HDB) has awarded the land parcel at Woodgrove Avenue to Tampines Court, a unit of Far East Organization, for S$105.12 million. The developer has submitted the highest of the six bids received at the close of the tender on November 4. The land parcel, which is meant for strata landed or condominium development, has a site area of over 20,900 square metres and a maximum...