Prime Minister Lee Hsien Loong said yesterday that the city- state's red-hot property market was a matter of concern and needed careful monitoring to avoid the creation of a bubble. Recent measures to cool the market have dampened sentiment, but liquidity is awash in the region, he told news agency Reuters in an interview on the risks facing Singapore. Mr Lee also said the government will continue to...
General
The intersection of Choa Chu Kang and Woodlands Road looks set for a facelift as Far East Organization unveils a new mixed-development project that includes a shopping complex and a residential tower at the Ten Mile Junction site. Far East unveiled the commercial component of the development yesterday, eight months after the company won the tender for the site. The developer is investing $28 million in...
he Housing and Development Board (HDB) has received six bids for the land parcel at Bedok Reservoir Crescent at the close of the tender on Tuesday. The site is for public housing development under the Design, Build & Sell Scheme (DBSS). The highest bid came from CEL Development, which submitted a bid of S$112.69 million. Kwan Hwee Investment placed the second highest bid of S$109.89 million, while...
Some developers are trying to release new projects before the year-end holiday season sets in. UOL Group is expected to preview the freehold Spottiswoode Residences condo next week, and the price is expected to be about $2,000 per square feet (psf). The project, a 36-storey tower, is next to Spottiswoode Park, a green lung in the area, and close to Tanjong Pagar, which is slated to be transformed into a...
At least five real estate investment trusts (Reits), each worth around $500 million or more, are expected to list over the next six months, according to DBS Group Holdings. More dual listings of Reits might also be on the cards, after China firms up guidelines for the sector. Eng Seat Moey, managing director and head of DBS Bank's asset-backed structured products, said 'You can expect a lot more initial...
Beijing's latest move on Sunday to charge higher mortgage rates for first time home buyers may not be enough to curb the country's huge appetite for real estate investments, an analyst told CNBC on Monday. "Even with the increase in mortgage (rates), those rising costs are not even keeping pace with the rise in inflation in China, which means the real interest rate that households are looking at — the...
Located next to the prestigious Leedon Park Good Class Bungalow area, the 48,525 square metre site will be developed into one of the largest freehold residential developments in prime District 10. The vibrant shopping, dining and lifestyle locales of Holland Village, Dempsey Hill and Orchard Road are easily accessible while the Singapore Botanic Gardens is just a stone’s throw away. Reputable educational...
A 150-unit freehold condominium, The Glyndebourne, met with good response over the weekend's private preview. City Developments (CDL) said in a statement that 75 per cent, or 112 units, of the development have been sold over the weekend. The selling price ranged from S$1,900 to S$2,350 per square foot, giving an average price of about S$2,100 per square foot. The development, which comprises eight...
The Urban Redevelopment Authority (URA) has accepted an application from a developer to put up the hotel site at Gopeng Street/Peck Seah Street for sale via public tender. The land parcel was made available for sale through the Reserve List system on 21 February 2008. URA said the developer has committed to bid at a price of not less than S$94.05 million in the tender for the land parcel. As the minimum...
Property developer Keppel Land has sold more than 90 per cent of the 220 units released during the soft launch of its Seasons Park residential development in the Sino-Singapore Tianjin Eco-City. Seasons Park, comprising a total of 1,672 residences, is the first collection of eco-homes to be launched in the Keppel development in China. The average price achieved was about 11,000 renminbi or S$2,124 per...