Fancy dining "in a tree" or among endangered plants and flowers? Well, you can do just that when the first phase of the Gardens by the Bay opens next November. Spanning 9,400 square metres or about 2 football fields, the National Parks Board said the attraction will have 18 food and beverage spaces. Chilling out in a bar perched on top of one of the 50-metre Supertrees or sample local fare among unusual...
General
The pace of growth in home prices has slowed in the second quarter of 2010 with the exception of the mass market segment, said DTZ Research. According to DTZ, the resale prices of leasehold homes in the suburban areas rose by 4 per cent in Q2 on-quarter to $648 per square foot (psf) compared with the 2.1-per-cent increase recorded in the first three months of the year. Looking ahead, DTZ expects prices...
Mainboard-listed property and hospitality player Overseas Union Enterprise has secured a S$425 million-term loan facility from OCBC bank. OUE, through its subsidiary Cove Development, will use the loan to finance the development and cost of construction of a property at Leonie Hill Road. In addition, OCBC has also made available to Cove an interest rate swap facility for a notional amount up to S$375...
Given the current market conditions, how can analysts be so sure? Analysts this week from a renowned rating agency assured us that local banks' real estate exposure - while hefty - is not posing any risks as prices are rising in tandem with economic growth. I may be wrong but are they not from the same elite group of rating firms which failed miserably to warn investors of the United States sub-prime...
Singapore says there is no evidence that sand received by the Housing and Development Board (HDB) has been smuggled out of Malaysia as alleged by The Star newspaper. In response to media queries, a spokesperson for the Ministry of National Development (MND) said that HDB engages sand suppliers on a commercial basis to supply sand for its development works. As part of the procurement process, HDB requires...
Mainboard-listed CentraLand, through its subsidiary Henan Hezhi Company, has entered into an agreement to acquire 80 per cent of Zhengzhou Longma. CentraLand paid 360 million yuan or about S$74 million for the stake. Zhengzhou Longma owns two parcels of land out of the four parcels that make up Tianrong Fashion City. CentraLand intends to redevelop Tianrong Fashion City and its surrounding land into a...
A mixed-use white site at Jurong Gateway Road garnered aggressive bidding from developers as its tender closed yesterday. Australian property firm Lend Lease has put in the top bid of nearly $749 million - more than twice the $350-million trigger price for site. This price translates to about $650 per square foot per plot ratio. The second-highest bid of about $729 million came from Energy Trustee, while...
Food lovers will be able to feast in food and beverage (F&B) areas spanning 9,400 square metres (picture) when the first phase of the $1 billion Gardens by the Bay project opens in November next year. Gardens by the Bay is a development covering three major parks around the Marina Bay in downtown Singapore. Yesterday, the National Parks Board unveiled the F&B area which will span about two...
The rate of increase in housing prices in Singapore slowed down in the second quarter of this year, according to property consultancy firm DTZ. It said resistance to the high asking prices and the uncertainty in the stock market sidelined buying interest in the property market. The only exception was in the mass market segment where prices of secondary condominiums and apartments went up further compared...
Australian property firm Lend Lease has put in the top bid of S$748.89 million for a mixed-use white site at Jurong Gateway Road. The tender price translates to about S$650 per square foot per plot ratio. The second highest bid of S$728.80 million came from Energy Trustee. Qingdao Construction put in the lowest bid of S$418 million. All in, there were six bids for the site put up for tender by the...