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The Housing and Development Board (HDB) has received four bids for the land parcel at Upper Serangoon View at the close of the tender on Tuesday. The site has an area of 13,000 square metres. The highest bid came from joint bidders FCL Topaz, Far East Civil Engineering and Sekisui House. They submitted a bid of S$156.8 million. That translates to about S$3,446 per square metre per gross floor area for...
Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana REIT) plans to raise up to S$696.1 million through an initial public offering (IPO), according to a prospectus it has filed with the Monetary Authority of Singapore (MAS). Sabana said it plans to sell 632.8 million units, with each unit priced at between S$1 and S$1.10. If successful, this would make it the first Shariah-compliant...
Singapore and Hong Kong have emerged as the top two preferred property investment markets in Asia. That's according to property consultant Colliers International's "Global Investor Sentiment Survey" for the third quarter of this year. The survey found 70 per cent of the investors are only interested in their own domestic market when looking to expand their real-estate portfolio. The remaining 30 per...
Healthcare real-estate investment trust First Reit is launching a rights issue to partly finance its acquisition of two Indonesian hospitals. The trust said on Tuesday it would raise some S$172.8 million in gross proceeds through the issuance of about 345.6 million new units. The rights issue is offered to unitholders on a pro-rata basis of five rights units for every four existing units at a price of 50...
Keppel Land said on Tuesday it would issue 500 million dollars worth of unsecured convertible bonds. The Singapore-dollar denominated bonds will pay interest at the rate of 1.875 per cent per annum, payable semi-annually in arrears. The bonds, which have a term of five years, will be convertible into new ordinary shares at an initial conversion price of 6.72 dollars apiece. The initial conversion price...
The gap between the top developer's bid and next highest bid for residential sites and sites with residential components has started to narrow as the impact of the property cooling measures kicks in. Developers looking to build homes are no longer bidding with wild abandon at Government Land Sale (GLS) tenders as caution sets in. The gap peaked in August and early September before declining in recent...
Mainboard-listed construction firm Chip Eng Seng said third-quarter net profit grew 37 per cent from a year earlier to S$23.7 million. This compares with a net profit of S$17.3 million in the same three-month period last year. Meanwhile, revenue grew 10 per cent from a year earlier to S$115 million. The company said revenue growth was driven by property-development revenue, which jumped 79 per cent, led...
The government is investing nearly S$1 billion to build the new Jurong General Hospital (JGH) and Jurong Community Hospital (JCH). Located along Jurong East Street 21, the project will see the construction of three main buildings. They include the nine-storey community hospital, subsidised and private towers, and the eight-storey general hospital's specialist outpatient clinics. All three buildings will...
Developer Wheelock Properties has secured Hermes as the maiden tenant for its Scotts Square retail podium which is slated to open by Christmas next year. Hermes will occupy a 3,000 sq ft ground-floor corner unit. This will be Hermes' fourth outlet in Singapore - after Liat Towers, Takashimaya Department Store, and The Shoppes at Marina Bay Sands. The Liat Towers store will remain open even after Hermes...