Singapore and Malaysia expect to conclude a deal on exchanging land parcels between both sides in three months. The prime ministers of both countries met in Putrajaya, Malaysia on Tuesday. One outcome is that they agreed to reduce the toll charges for motorists using a link which connects the countries. The meeting was a follow-up on their retreat in Singapore last month. A key item - details on how...
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CDL Hospitality Trusts is placing out new stapled securities to raise net proceeds of up to S$196 million. The trust said the issue price will range between S$1.71 and S$1.77 per stapled security, with the final price fixed after a book-building exercise. This represents a discount of 6.3 per cent to 9.4 per cent to the counter's volume weighted average price on Monday. The placement aims to raise S$150...
A hotel site at Robinson Road and Boon Tat Street has been put up for sale under the Reserve List. The Urban Redevelopment Authority (URA) says the land parcel has a site area of 1,863 square metres and can generate a maximum gross floor area of 7,450 square metres. The site, located in the heart of the Central Business District, is within walking distance to Raffles Place and Marina Bay. It also...
Rental values for retail space across Singapore ended on a mixed note in the second quarter of this year. That's according to estimates by property consultancy DTZ Research. The report found that retail rents at Orchard and Scotts Road stood unchanged for the second consecutive quarter, as the performance of retailers was mixed in light of new supply that came on-stream since last year. Gross rents of...
Plans for remaking Punggol are on track. Senior Minister of State for National Development, Grace Fu, said as of June 1, HDB has completed almost 18,000 residential units in Punggol. Another 9,400 are under construction. Subject to demand, HDB is on track to complete 35,000 flats by the end of 2015. This will make Punggol similar in size to Toa Payoh. Ms Fu was speaking at the Punggol, Remaking our...
The Housing and Development Board will launch a premium housing project in Punggol later this June under the Build-To-Order (BTO) system. Sited along the Punggol Waterway, the project will offer waterfront living and boasts eco-friendly features. In line with the project's emphasis on energy conservation, there will be large courtyards and openings to promote natural ventilation and airflow to flats and...
Homebuyers can look forward to another Design Build and Sell Scheme (DBSS) project in Tampines. The Housing and Development Board (HDB) is launching a residential site for sale Wednesday by public tender in Tampines under the Design, Build and Sell Scheme or DBSS. The site is located at Tampines Avenue 5 and Central 8, and is adjacent to the first DBSS project, The Premiere@Tampines. The site area is...
Number of caveats lodged in May down It's official - Singapore's private residential property market cooled significantly last month, going by the number of caveats lodged. Only 1,979 caveats were lodged, down 41 per cent from April, according to latest figures from the Singapore Institute of Surveyors and Valuers (SISV). District 4 saw the biggest drop in caveat numbers, down 76 per cent. The...
It's official - Singapore's private residential property market cooled significantly in May. The number of caveats lodged fell 41 per cent on-month to 1,979, according to latest figures from Singapore Institute of Surveyors and Valuers. Still, property analysts do not expect foreign investor's appetite for homes to be dampened. Industry data showed that District 4, which includes the Sentosa, Keppel Bay...
Food and beverage firm LES, which clinched the tenancy for the former Alkaff Mansion at Telok Blangah Green last week, expects to invest S$5 million in the project. This is almost five times more than analysts' projections. Its top bid of S$79,251 in rent per month for the property beat eight other contenders in the tender by the Singapore Land Authority. In a statement, LES said the former Alkaff...