Millennium & Copthorne Hotels said its unit has signed a collective sales agreement to put Tanglin Shopping Centre up for sale. Under the terms of the agreement, a sales committee has been authorized to negotiate and finalize the collective sale of the shopping-cum-office development situated at Tanglin Road. This sales committee has also been authorised to enter into a sale and purchase agreement on...
General
Construction firm Chip Eng Seng said Wednesday that its wholly-owned subsidiary, CEL Development will set up a special purpose vehicle (SPV) to facilitate the development of an executive condominium (EC) in Punggol. This is in view of the fact that CEL and its partner, Choicehomes Investments, have emerged as the top bidder in a tender for the site. Both sides put in a joint bid of $223.74 million for...
Sales in May less than half that in April The feverish property market lost some of its sizzle last month, as Europe's debt crisis and the resulting retreat in global stock prices sent prospective home buyers scurrying to the sidelines, but analysts said underlying sentiment would likely remain firm, supported by Singapore's strong economic fundamentals and steady demand. Data released yesterday by the...
Life inside the next generation of western habitat will be something like nesting inside an iPad, a Paris-wide exhibition on design indicated this week. No need to turn on a tap or raise a toilet lid, smart sensors will do it for you. Toilet seats are warm, the bathtub remembers how best you like the water, and walls function like screen-savers, changing colour or design at a touch. "A few years back,...
The Urban Redevelopment Authority, URA will launch a tender for a hotel site at the junction of Clemenceau Avenue and Havelock Road in two weeks time. It has accepted an application from a developer for the hotel site, which is on the Reserve List, for public tender. The developer has committed to bid at least $40.8 million for the land parcel. The URA said the 99-year leasehold site can generate a...
But some residents of Nim Gardens happy to stay, citing condominium's size, green surroundings A planning provision has hampered the plans of some residents at Nim Gardens to make more money should their development go up for an en bloc sale. Nim Gardens in Seletar Hills is 10 storeys. According to the rule, any new development cannot exceed this height, nor the gross floor area. This means residents...
The Urban Redevelopment Authority has awarded the tender for the residential site at Upper Serangoon Road and Pheng Geck Avenue to Qingdao Construction. The company submitted the highest bid of S$113.7 million, or about S$588 per square foot of gross floor area. The tender was launched in April this year and closed two weeks ago. A total of 15 bids was received for the site. Other developers who...
The Housing and Development Board's (HDB) tender for a residential site at Punggol Field and Punggol Road has attracted the highest bid of S$223.7 million. This came from a joint bid by two companies - ChoiceHomes Investments and CEL Development. That translates to about S$298 per square foot per plot ratio for the reserve list site meant for executive condominium development. The next highest bid came...
Singapore's property market cooled significantly in May with just 1,078 units of new private homes sold. This is about 50 per cent lower than the number of homes sold in April. Data released Tuesday by the Urban Redevelopment Authority, URA, showed a decline in transactions across all segments. Homes located in the city fringe were most popular during the month with 451 transactions. However, this...
Mainboard-listed property and hotel company Overseas Union Enterprise has scrapped plans for a convertible bond issue, citing current market conditions. Last month, OUE had proposed to issue up to S$200 million dollars of notes due in 2015. The notes would have been convertible into new ordinary shares. In a stock exchange filing Tuesday, OUE said its controlling shareholder, Indonesia's Lippo Group,...