More than 10 buildings, including One Fullerton and Marina Bay Sands, will support the "i Light Marina Bay" festival which starts this Friday and will last till 7th November. Properties involved will light up using less energy to raise awareness on sustainable urban development. One Fullerton, for example, will switch off selected building facade lights, while Marina Bay Sands will raise air-conditioning...
General
Demand for executive condominiums (ECs) is expected to remain strong - at least for the next year. This is despite the lower-than-expected reception to one of the ECs launched last weekend. Property watchers believe there is still a sizeable group of sandwiched class buyers who are priced out of private apartments. Crowds thronged the showflats of the first EC to be launched in five years. The Esparina...
The average rents and capital values for factories and warehouses in Singapore continued to increase in the third quarter, but the average rent for hi-tech buildings stayed unchanged, according to property consultancy CB Richard Ellis (CBRE). It also noted a healthy level of activity in the investment market for industrial properties with major investment transactions totalling S$835.7 million in the...
Hong Kong's leader on Wednesday outlined new steps to cool the world's hottest property market, including a halt to automatic residency for rich buyers, in the face of simmering public anger. The residency measure will particularly hit wealthy investors from mainland China, whose buying spree in high-end apartments has done much to stoke fears of a new bubble in the Hong Kong economy. Chief Executive...
Sabana Reit is planning to raise about $600 million in an initial public offering on the Singapore Exchange in the first syariah-compliant listing here, a person familiar with the situation said yesterday. The company - poised to become the largest syariah-compliant real estate investment trust in the world - is planning to launch the offering by the end of the year, the source told Dow Jones...
A 52-year-old businessman has been found guilty of failing to declare his rental income in his income tax returns for Year of Assessment 2005. The rental income amounted to about $139,000. Goh Ah Bah was sentenced to one week's jail and ordered to pay a penalty of $74,000 after pleading guilty to one charge. Goh has paid the penalty in full but he is also appealing against his sentence. His bail of...
The Goldman Sachs funds which own the 999-year leasehold Hitachi Tower along Collyer Quay are looking to refinance the loan on the asset which matures in January next year instead of selling. The driver for the change in strategy is the improving outlook for the Singapore office market, say experts. 'The thinking now is to get refinancing on the asset, ride the current office upcycle and perhaps sell in...
Property developer Far East Organization has announced that it sold 76 units, including a bulk deal, at a preview of The Lanai project which began on October 9. Located in the Hillview area, the 10-storey development comprises 214 units in six towers. The project includes a mix of two-, three-, and four-bedroom units with sizes starting from 947 sq ft. The developer released three towers with a total of...
The once sleepy Tanjong Pagar district looks set for another boost that could turn the area into one of the most prized downtown residential districts. The Keppel group yesterday unveiled a billion-dollar asset reshuffle that will see it put up a massive residential development at its flagship buildings - Keppel Towers and GE Tower - in the heart of the area, whose skyline already boasts the Icon Loft...
Temasek-linked Mapletree Industrial Trust has launched Singapore's second biggest IPO this year and will raise as much as 1.2 billion Singapore dollars if the over allotment of 91.7 million shares is exercised. This was just a day after GIC's Global Logistic Properties launched the biggest share offering in Singapore since 1993. Mapletree has priced its IPO at 93 cents, the top end of its indicated...