It's important to insure home loans in case breadwinner dies early The house we own is easily a family's biggest of big-ticket items, but only three out of 10 home loan customers here buy mortgage insurance. While we believe we have insurance for nearly all of our needs, from children's education to hospitalisation, some of us do not realise that our home loans need to be insured too. Mortgage insurance...
General
FAR East Organization has signed a deal to buy 31 Parbury Avenue off Upper East Coast Road for $55 million - a price that works out to $898 per sq ft of land area. A two-storey bungalow stands on the sprawling 61,240 sq ft freehold site, which can be redeveloped into eight luxury bungalows or a strata landed-housing scheme comprising either 14 bungalows or 28 semi-detached houses or 37 terrace houses,...
PUBLIC housing is not a new idea and various versions of it have been tried across the world. However, it must be remembered that it has very rarely been a wholesale success. In many cases, it has created ghettos of poverty and despondency. In others, the relatively rich have 'captured' the projects and benefited from the subsidies. One of the few exceptions is Singapore, where public housing projects...
THE Keppel group's Marina at Keppel Bay has become the first such facility in Asia to be awarded the 5 Gold Anchors rating from the Marina Industries Association of Australia (MIAA). The award, for excellence in services and facilities, was presented to the group this week. MIAA is an industry association for the marina industry across the Asia-Pacific region. It launched the Gold Anchor International...
Hospitality chain Leading Hotels of the World is looking to put its premier brand behind a second luxury hotel chain in Singapore. It's targetting to have something ready by year end but said the schedule hasn't been confirmed. The group's network in Singapore currently only has Capella Singapore, a luxury resort on the tourist island of Sentosa. But around the world, it represents over 450 legacy...
Singapore's Orchard Road will be adding another new face to its shopping belt. A retail, hotel and office development will soon come up at the sites of the former Specialists' Centre and Hotel Phoenix, as well as Orchard Emerald mall. The project, costing some S$700 million, is expected to be completed in the second half of 2013. A groundbreaking ceremony on Friday marked the start of the redevelopment...
Business owners at the recently re-opened Customs House said their business has gone up by as much 80 per cent since it opened in May. Part of the Fullerton Heritage precinct, the former home of the Singapore Customs Police is now a trendy dining and entertainment destination. Customs House was one of the earliest of Singapore's public buildings to be built in a modern style to blend with the city's...
CapitaCommercial Trust (CCT) is selling the StarHub Centre to Frasers Centrepoint for S$380 million in cash. StarHub Centre is a 10-storey non-Grade A office building with retail space next to FCL's Centrepoint mall. It currently has a committed occupancy of 68.2 per cent and some 280,000 square feet of lettable space. The current lease for the site expires in January 2095. CCT disclosed that it has...
Freehold residential property Cavenagh Mansions has been sold to SDB Asia for S$42.4 million. Property consultancy Knight Frank said this translates to a land price of S$1,025 per square foot per plot ratio on the potential saleable area of 41,608 square feet. SDB Asia is a wholly-owned subsidiary of Selangor Dredging Berhad (SDB). SDB is a property development and management group listed on the main...
MARINA Bay will be criss-crossed by a 16km network of cycling paths by 2014, becoming the first area in the city with such a facility. When completed, residents and office workers in the area will be able to cycle on bike-dedicated stretches linking the Marina Bay Financial District, Marina Bay Sands integrated resort, Marina Barrage and the future Gardens by the Bay. A $26 million fund has been set...