Property developer Keppel Land plans to sell one-third stake of its Phase One of Marina Bay Financial Centre (MBFC) to K-REIT Asia for about S$1.4 billion. This is part of an asset swap agreement with K-REIT, a real estate investment trust. Under the deal, K-REIT will in turn sell Keppel Towers and GE Tower (KTGE) to Keppel Land for S$573 million. The one-third stake of Marina Bay Financial Centre Phase...
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A Design, Build and Sell Scheme (DBSS) site at Upper Serangoon Road has been released for sale by public tender by the Housing & Development Board (HDB). HDB said the site has an area of 20,000 square metres and a maximum allowable gross floor area of 70,000 square metres. It is expected to yield about 630 units and has a lease term of 103 years, including a 48-month construction period. Located...
Industrial landlord JTC's CleanTech One has already achieved a 50 per cent occupancy rate. This structure is the first to be completed at Singapore's first eco business park, CleanTech Park in Jurong West. CleanTech One is expected to be completed by December next year. Some of the key tenants include the Nanyang Environment and Water Research Institute and Sinomen Technology, a membrane solution...
Since its launch on Saturday, the new executive condominium (EC) project in Yishun, The Canopy, has attracted 240 applicants over the weekend. Its showflat attracted mainly young families and residents living around Yishun, with about 60 per cent of those present being young couples aged 35 and below. Although some buyers are still cautiously observing the property market, estate agents feel that the ECs...
Mainboard-listed property investment firm Japan Land said on Tuesday that its first quarter net loss has widened. For the three months ended August, the firm lost S$4.6 million compared to a net loss of S$3.7 million in the same period last year. The loss came despite a 23.1 per cent increase in revenue over the period to S$1.3 million. The better revenue was due mainly to the provision of advisory and...
Lately, there has been a surge in transactions at The Calrose and Seasons Park along Yio Chu Kang Road. The reason? Property agents like Benjamin Tan of C&H Group note that upgraders see value in the competitively priced condominiums, which are located in a good neighbourhhod. The Yio Chu Kang/Ang Mo Kio area has become an attractive residential enclave as it is just a few bus stops away from the Yio...
BUYERS snapped up 344 units of Esparina Residences, the first executive condominium (EC) to be launched in five years, on the first day of sales yesterday. The most popular units are the dual-key apartments, a studio attached to either a two- or three-bedder for extended families to live together, said developer Frasers Centrepoint Homes. Experts say the great response was expected as the project located...
Many Singaporeans aspire towards real estate ownership. High-rise living, whether in private condominiums or HDB estates, is the norm in Singapore, with more than 90 per cent of people housed in this manner. Residents may enjoy better views and ventilation. For those living in condominiums, they may also enjoy the benefit of common facilities and security. On the other hand, many diehards value landed...
If you have not realised it by now, Singapore has a new national asset. What made the recent F1 race and the inaugural Youth Olympics Games stand out as a truly memorable experience for participants and spectators alike was not how efficiently the events were organised. Singapore has made efficiency its trademark for many years now, so that was to be expected. Rather, it was the location of the events -...
Alpha Investment Partners (AIP), the wholly-owned real-estate fund management arm of Keppel Land, has made a structured investment of US$210 million ($274.9 million) in Seoul Square, Korea, under its US$1.2 billion Macro Trends Fund (AAMTF). Located in the heart of the City Hall area, the 23-storey Seoul Square has a total rentable area of 1,429,509 sf of prime Grade A office space. The building has been...