The Urban Redevelopment Authority (URA) has won a prestigious international award for the transformation of the Southern Ridges. It was conferred the Urban Land Institute (ULI) Awards for Excellence 2010: Asia Pacific. The Southern Ridges is a nine-kilometre chain of green and open spaces spanning Mount Faber Park, Telok Blangah Hill Park, Kent Ridge Park and West Coast Park. The areas are connected by...
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CapitaCommercial Trust says it has yet to make a decision on its StarHub Centre property. It says it is evaluating all options for its asset plan for the property and has not arrived at any decision at this point. As part of the evaluation process, CCT says it conducted a non-legally binding expression of interest exercise to ascertain interest for the sale of the property. It adds that there is no...
Henderson Land Development, the Hong Kong developer controlled by billionaire Lee Shau Kee, was questioned for a seventh time by the government over luxury apartment transactions that spurred efforts to cool home prices and a crackdown on marketing tactics. The Lands Department asked the company to provide copies of title deeds and additional details on how it calculated the interest penalty for late...
Almost 18,000 residential units in Punggol have been completed by the beginning of this month with another 9,400 under construction. And subject to demand, the Housing and Development Board (HDB) is on track to complete 35,000 flats by the end of 2015, making Punggol similar in size to Toa Payoh. The updates were given yesterday by Senior Minister of State for National Development Grace Fu at the...
Investment sales of property so far this year have already reached $11.26 billion - surpassing the $10.62 billion totted up for the whole of last year, according to latest figures from CB Richard Ellis. The property consulting group is now forecasting that the full-year 2010 number is likely to surpass its initial projection of $15 billion and perhaps reach the $17.9 billion mark achieved in 2008. The...
Mainboard-listed CDL Hospitality Trusts said its new units were placed out at the lower end of its indicative range. It has fixed the issue price for each new unit at S$1.71. Its indicative range was between S$1.71 and S$1.77. At the price of S$1.71, it represents a discount of 7.1 per cent to the adjusted volume weighted average price of S$1.8402 per stapled security. CDL Hospitality said its private...
Mainboard-listed Fragrance Group has launched an integrated residential and commercial development along Changi Road. The development, called Suites & Icon @ Changi, is a freehold integrated five-storey building. The residential component of the development houses 44 units of apartments with sizes ranging from 409 to 1,152 square feet. The commercial component on the other hand, will comprise...
As the stock of buildings developed on 99-year leasehold sites sold by the government since the late 1960s gets older, more building owners are expected to apply to the authorities for lease top-ups. Two such cases are currently under evaluation. But since 2007, the Singapore Land Authority (SLA) has processed 56 applications for lease extensions of which only about 60 per cent were approved. The other 40...
It is important for real estate companies to continue to watch their cashflow, including keeping options open for alternative financing and find new recurring income, said participants at an industry conference yesterday. They told the Real Estate Investment World Asia 2010 event that they believe the global financial crisis is not over and that it may take 12 to 18 months before the impact of the euro...
Real estate industry players have said it is important for companies in the industry to continue to watch their cashflow. This includes keeping options open for alternative financing and finding new recurring income. They told an industry conference - Real Estate Investment World Asia 2010 - that they believe the global financial crisis is not over and that it may take at least a year before economic...