THE Greenwich condominium caused a rare traffic jam in the quiet Seletar Hills estate on Monday when potential buyers flocked to its showflat to get the first bite of the cherry in a special preview. Developer Far East Organization said yesterday that it has sold 80 out of 96 units released at the 319-unit The Greenwich on Monday. The showflat closed at 2am the following morning, in order to cope with the...
General
The Housing Development Board (HDB) has received five bids for the sale of a site at the junction of Tampines Avenue 5 and Tampines Central 8. The 32,000 square metre site is designated for public housing under the Design, Build and Sell Scheme, also known as DBSS. It was launched in June and the tender closed at noon on Tuesday. The top bid came from Sim Lian Land, which bid S$178 million for the site....
Singapore-listed CapitaMalls Asia said its second quarter net profit fell 23.7 percent to S$113 million. However revenue over the period grew 31.9 percent to S$73 million. The drop in earnings was attributable to the lower revaluation gain of its properties as compared to the second quarter a year ago. It also received a lower share of results from its three Chinese private equity funds, which was...
A PROPERTY is, perhaps, one of the most expensive items a person will purchase in his lifetime, and the mortgage debt is often a big concern for many. However, there are various means through which one can significantly manage such debt and gain financial freedom quickly. Besides cultivating sharp financial habits to spend less and save more to pay off the loan early, financial experts recommend that one...
BALMORAL Condominium, located in the prime District 10 area, has been put up for sale by tender with an indicative price tag of $171 million to $175 million, or about $1,866 to $1,910 per square foot per plot. Marketing agent Savills Singapore said over 80 per cent of owners have agreed to the collective sale. A previous unsuccessful attempt at enbloc sale had been made in 2007 at much lower prices. The...
50 per cent stake in retail portion of Malacca Centre in Raffles Place also transacted INVESTMENT sales of property have been gathering momentum in the private sector, with several deals inked recently. They include the Park Regis hotel at New Market Street/Merchant Road near the Singapore River, which is said to have been sold for $218 million to Indonesian mining magnate Yusuf Merukh. Separately, a 50...
Redevelopment could yield about 120 units averaging 300 sq ft each GOLDEN Flower Group, controlled by the family of Indonesian businessman Nico Po, has sold a majority stake in the company that owns a residential site at 55 Devonshire Road. The buyer is an an associate company of Oxley Land. The deal is understood to have valued the freehold site at about $1,380 per sq ft per plot ratio inclusive of an...
IBIS Singapore on Bencoolen, a three-star hotel, has been sold just 18 months after it opened its doors. Details were not disclosed but it is understood a Singapore private investor paid a figure above $200 million for it. The hotel was put up for sale via a private tender in June by joint owners LaSalle Investment Management and French hotel group Accor. They announced the sale yesterday, but did not...
Prices of units at the newly built, 336-unit condominium The Arte by City Developments Ltd (CDL) have been on an uptrend this year, hitting a high of $1,250 psf last month versus an average of only $880 psf during its launch last year. This comes as it attains its temporary occupation permit (TOP) and rides the ongoing transformation of the Thomson- Balestier area. At the moment, Balestier Road still...
Newly-listed CapitaMalls Malaysia Trust wants to ride on strong consumer spending in urban centres like the Malaysian capital Kuala Lumpur. It plans to acquire at least one or two more shopping malls in Kuala Lumpur and double its fund size to more than 4 billion ringgit, or nearly US$1.6 billion, in less than five years. Shopping is one of the favourite past times in the Malaysian capital and...