The Urban Redevelopment Authority has awarded the tender for the industrial site at Kaki Bukit Avenue 4 to Wee Hur Development. The company submitted the highest bid of S$76.8 million for the site. The plot has a site area of more than 30,000 square metres, and a maximum gross plot ratio of 2.5. The tender for the industrial site was launched on July 19 and closed on September 14. The land parcel was...
General
The recent property-cooling measures are not likely to have a significant long-term impact on the overall real estate market in Singapore, with global economic issues playing a larger role, property experts speaking at an industry seminar said yesterday. "Generally, the property price is affected by external factors or the growth of the Singapore property prices is because of the improved economy....
Fragrance Group says wholly-owned subsidiary, Fragrance Realty Pte Ltd, has entered into an agreement to acquire the property known as MK25 Lots 06219X and 06220K at Geylang Road for $31.55 million. The development land has a freehold tenure with a total land area of 1,681.2 square meters. The development land can yield a maximum permissible gross floor area of 5,043.60 square meters. Fragrance Group...
The dizzying rise in property prices here is not sustainable and the market may be heading for a hard landing in one to two years' time. When that happens, property values may fall by as much as 50 per cent, according to an expert at a real estate forum yesterday. Property experts speaking at the National University of Singapore's Institute of Real Estate Studies Forum said that excess liquidity in the...
Recently, I received an appeal from a young couple who had applied for the first waterfront BTO project at Punggol Waterway Terraces. Seeing the high application rates, they were worried that the Housing and Development Board (HDB) was not building enough new flats and that prices would shoot up beyond their reach. The couple commented: "We read in the papers that the number of new flats completed each...
Not for the time being, but the expected decline in HDB resale prices may cause investors to think twice Since the announcement of the property market cooling measures late last month, I have been frequently asked the question: When can we expect private housing prices to correct? We have had two weekends and at least one major developers' preview of a condominium project in Pasir Ris to gauge the...
Following the recent Government measures to curb property speculation, some buyers have forfeited their booking fees on their planned purchases in anticipation of a dip in property prices. In the HDB resale market, anecdotal evidence has shown early signs of price moderation, in particular the cash-over-valuation component, as the expectations of buyers and sellers change. If HDB prices were to moderate,...
Mapletree Industrial Trust plans to raise about $800 million from an initial public offering in Singapore to buy six properties and repay debt, according to a term sheet sent to investors. The trust is offering 1.01 billion units, or up to 69 per cent of its market capitalisation, in the IPO, which includes a greenshoe - or overallotment option - of 91.75 million units. Trading will start on Oct 21,...
India could be the next stop for property investment opportunities in Asia as buyers look for alternatives following the recent slew of cooling measures in China. That is according to speakers at a property forum organised by NUS-Institute of Real Estate Studies yesterday. GIC Real Estate managing director Goh Kok Huat said property prices in India had risen sharply following the liberalisation of the...
Developer Keppel Land has acquired an additional 66 hectares of a waterfront site in Zhongshan in China's Guangdong province. This now completes Keppel Land's acquisition of an 86 hectare site for its first waterfront residential cum marina development in China. Keppel Land had first announced in April 2008 its interest to develop premium waterfront homes in the affluent Pearl River Delta region of...