Property prices in Hong Kong are expected to stay on an uptrend, according to analysts. They noted that despite government measures to cool the sector, home sales rose to its highest level in almost 3 years last month, and the latest land auction also exceeded estimates. Residential sales in Hong Kong rose by 33 per cent in value last month, underscoring strong demand fuelled by a record low interest...
General
With inner-city living becoming increasingly popular, homebuyers and investors will have wider options as more old office buildings are torn down and redeveloped into high-rise residential towers. The 43-storey, 312-unit The Clift developed by Far East Organization (FEO) is expected to be completed next January. Located in the heart of the CBD on McCallum Street, the project is across the road from the...
Commercial property manager Ascendas has announced that its China Commercial Fund has bought a building in Shanghai. Ascendas did not disclose the price it paid, citing a non-disclosure agreement. It only said that, with the acquisition of Cross Tower, the $800 million fund was fully-invested Cross Tower joins two other properties in prime business areas acquired by the fund: Ascendas Plaza at Xu Jia Hui...
Mass-market segment appear to be most affected WAIT-AND-SEE was the order of the day at showflats over the weekend - the first since measures aimed to cool property speculation were introduced. The mass-market segment appeared to be the most affected, with thinner crowds and fewer sales. At more upmarket properties, there was still some interest among genuine buyers. At The Minton in Lorong Ah Soo, a...
The Housing and Development Board (HDB) has awarded the tender of a site at New Upper Changi Road/Bedok North Drive to joint bidders Brilliance Residential and Brilliance Trustee. The companies submitted the highest bid of S$788.9 million for the site, which is meant for mixed commercial and residential development integrated with a bus interchange. The site has a land area of 24,902 square metres and a...
The Singapore Land Authority (SLA) has launched a tender for the master tenancy of 33 black and white bungalows at Mount Pleasant. The bungalows are rich in historical value. The leases of majority of the existing occupants expire in December 2010. SLA's newly launched tender has attracted some 30 companies. Property analysts said Mount Pleasant is centrally located, but lacks basic amenities like...
It was the first weekend after the announcement of the new property rules. And home buyers are adopting a cautious wait-and-see approach for now. Of the five showflats MediaCorp visited yesterday, The Greenwich in Seletar Hills was buzzing with activity at noon, even as it entered into the second week of sale of Phase Two. Over at the showflats of Waterfront Gold on Bedok Reservoir Road, as well as...
The increasing trend of living in the city led to a spike in residential property developments within the Central Business District (CBD). Developers have turned their eyes on redeveloping existing commercial buildings into residential properties to cash in on strong buyer interest. For instance, all 202 units in Hong Leong's inner city residences at 76, Shenton Way, were sold in one day. Among new...
JTC Corporation said it was looking to set up an offshore marine centre as well as establish a MedTech cluster, as part of a move to reposition itself as an Industrial Infrastructure Innovator. It announced this at its 2009 Annual Report conference Monday. Some of the other initiatives JTC is exploring include a general aviation centre, a biologics facility, a surface finishing complex for the precision...
Keppel Land is set to redevelop Tower 2 of its Barclays House complex in Jakarta's central business district, the property giant announced yesterday. Indonesia's booming economy has led to increased demand for office space and Mr Ang Wee Gee, executive director and chief executive officer (international) of Keppel Land International Limited, said: "Our new office tower will meet the demand of tenants...