The launch of The Vision condominium along West Coast Crescent by Hong Kong developer Cheung Kong (Holdings) in mid- March at $1,000 to $1,200 psf set a new price benchmark for the West Coast area. For instance, the two penthouses in the develop ment were sold for $1,332 psf in the first weekend of private previews. The development — designed as a high-end product, setting a new benchmark for condos in...
General
Boutique property developer Heeton Holdings is setting its sights on avant-garde designs for its developments as part of an effort to expand its portfolio and rebrand itself. Danny Low, Heeton's chief operating officer and executive director, said the company is looking at new and cutting-edge concepts in its future projects in the Orchard Road area and its vicinity. Heeton has already started to...
The challenge for the Housing and Development Board (HDB) for the next 50 years is to strengthen the fabric of Singapore's society in the face of changing demographics. Minister for Community, Youth and Sports Vivian Balakrishnan said this at a community event marking the HDB's 50th anniversary. Dr Balakrishnan said: "Working together with grassroots and community leaders, HDB has done well these past 50...
When it tried to go en bloc four years ago, Clementi Park failed to get 50 per cent of its residents' vote. This time round, its marketing agent Knight Frank withdrew from the collective sale exercise. In the minutes of a recent meeting - which was obtained by Media-Corp - the company said it did not have the "confidence" that it could get 80 per cent of the condominium's owners to agree to a collective...
Food and beverage firm Les Pte Ltd has clinched the tenancy for the former Alkaff Mansion at Telok Blangah Green. Its top bid of S$79,251 per month beat eight other contenders in the tender by the Singapore Land Authority. Les will lease the property for an initial period of three years, and the tenancy could be renewed for another two terms of three years each. The top offer is around three times the...
The Housing and Development Board (HDB) received just two bids for a residential site at Yishun Ave 2 and Yishun Ave 7. The higher offer of S$229.4 million came from a joint bid by two companies - Nam Hee Contractor and FCL Topaz. That translates to about S$311 per square foot per plot ratio. The second bid came from a firm, Perfect Eagle, which offered S$196 million. The land parcel has a site area of...
Developer secures Cold Storage, Kopitiam as tenants FAR East Oganization is building what it hopes will be a chic, two-storey mall on a Seletar site it bought in a state tender last year. Behind the mall will be a 319-unit, low-rise condo, The Greenwich, which could be launched for sale within two months. The developer will hold the mall, named Greenwich V, as an investment property for rental income. It...
Developers sold just 1,078 private homes in May - about half the 2,208 units they transacted in April. This could mark the start of a period of slower sales as developers weigh their options and buyers bide their time. The two parties could have a standoff for a little while, predicts DTZ executive director (consulting) Ong Choon Fah. 'There's no great push factor to launch projects in June when you weigh...
A man went to the races and won big, taking home $50,000 in winnings. The following week, he won $25,000. Did he win big? Of course he did! When developers' sales for May hit 1,078 units - about half of April's near-record 2,208 units, the market was adjudged to have cooled significantly. Has it? Even if market sentiment had not been hit by the European debt crisis, April's near-record-breaking figure of...
Visiting showflats on weekends is very much a Singaporean pastime. Many who throng the showflats are not buyers, but browsers with noisy families in tow. But for those who are thinking of putting down some hard-earned cash for a brand new home, this seemingly leisurely activity is actually the homework they should do carefully before they commit themselves to a purchase. They should scrutinise every nook...