The Housing and Development Board (HDB) handed out a new "Innovative Design" award at its annual Design and Construction Awards on Tuesday. Targeting projects that have not been constructed, the new award aims to encourage architectural consultants to place more emphasis on good and innovative design, and serve as an impetus for consultants to fine-tune their design before the construction...
General
THE Glyndebourne, a 150- unit proposed freehold condo slated to be built on the Copthorne Orchid Hotel site along Dunearn Road, is expected to go on the market as early as next week, say sources. Market watchers suggest the average price could be about $2,000 per square foot (psf). Unit sizes are said to range from about 690 sq ft for a one-bedroom apartment with a study to 3,563 sq ft for a five-bedroom...
Singaporeans have generally welcomed the 7-day cooling-off period for buying and selling HDB resale flats. The cooling-off period takes effect from November 1. The process starts as soon as the seller completes and sends out an online resale checklist to HDB. In that checklist, they have to state clearly their next housing arrangement. A financial plan for the next home purchase has to be made clear as...
A hotel site at Robinson Road / Boon Tat Street will be put up for public tender. The land parcel had been made available for sale through the reserve list system in June. The sale has been triggered by a developer's application, which had met the minimum price acceptable to the government. The developer has committed to bid at a price of not less than S$30.8 million, on a 60-year lease term. Tenderers...
Mapletree Industrial Trust (MIT) said on Tuesday it has received strong demand for its initial public offering (IPO). In all, it received a total demand of some 21.6 billion units, 37.9 times more than the 569.4 million units available for subscription. Strong demand from international and local institutional investors saw them requesting for 19.4 billion units, even though just some 488.7 million units...
Mainboard-listed Mapletree Logistics Trust said on Tuesday it was buying a warehouse facility in Japan for some S$16.2 million. It signed a sale and purchase agreement to acquire Toki Logistics Centre from Hamakyorex, a third-party logistics company in Japan. Under the deal, Hamakyorex will enter into a 10-year lease agreement with Mapletree Logistics. The property is a two-storey warehouse facility...
Proposed changes to foreign ownership of landed residential property in Singapore and a seven-day cooling period for HDB resale flats are not expected to weigh down on property prices, according to analysts. Over 80% of Singapore's population resides in flats. Hence, proposed amendments to the Residential Property Act will have little impact on the overall market, said experts. The Act regulates foreign...
Foreign ownership of landed homes here is set to be tightened, four years after the Residential Property Act was last revised. The latest changes to the law, tabled yesterday in Parliament, include more stringent penalties and come at a time when residential property prices have risen significantly while some fines and jail terms have been the same since 1974. The newest requirement is for Singaporeans...
The new statutory board regulating the real estate industry will put in place its dispute resolution scheme early next year. The Council for Estate Agencies will ask property agents and consumers to go for mediation to resolve contractual disputes, such as payment of commission. For disputes which cannot be settled through mediation, the parties can opt for arbitration. National Development Minister Mah...
Mr Ching Chiat Kwong, the man who made shoebox apartment living a new lifestyle, is now thinking big. The policeman turned entrepreneur is planning to build similar apartments abroad, especially in China and neighbouring countries like Vietnam. For Mr Ching, the developer of about a dozen projects with apartments as tiny as 258 sq ft at Suites@Guillemard, small is beautiful. But to go abroad he needs...