Early into his chairmanship of the Housing and Development Board (HDB), Mr Lim Kim San heard about building contractors being crooked. So, he thought that it would be a good idea for him to go around and look at some of the buildings being constructed. The first structure that he saw - an HDB block in Margaret Drive - appeared crooked to him. He went back to his office and declared that either his...
General
Top-end home sells defines gravity in a cautious property market AMID the caution that has crept into the market for mainstream condos since last month, a record price has been set for a top-end bungalow on Sentosa Cove. The property at Paradise Island changed hands in the resale market for $36 million or $2,403 per square foot on land area last month. In terms of both, the absolute amount and unit land...
EL Development will start previewing its 32-unit Stevens Suites late this month or early next month. The freehold project at Stevens Close will be priced from $1,680 to $2,050 per square foot (psf). It will feature one, two and three-bedroom apartments, and eight penthouses. EL Development bought the site in September 2009 for $900 psf per plot ratio through a private treaty, said the company's managing...
THE Ministry of Finance (MOF) yesterday launched a public consultation to seek feedback on proposed changes to the Property Tax Act. There will be 12 suggested changes in the draft Property Tax (Amendment) Bill 2010. They are the result of periodic reviews of the property tax system, and 'aim to improve tax administration or provide clarity to taxpayers', MOF said in a release. One proposed amendment...
Having failed to get their dues back from Singapore-based investment firm Profitable Plots and left to fend for themselves, a group of investors is now calling for better regulation of land banking here. Unable to get back a sum totalling more than $2 million, they have not been able to get help from any regulatory body as land banking is not regulated in Singapore. In an advisory yesterday, the Monetary...
CapitaMalls Asia (CMA) says it has received approval from the Securities Commission of Malaysia to list its assets across the Causeway. It says CapitaMalls Malaysia Trust (CMMT) will hold its Malaysia shopping malls and be listed on the main market of Bursa Malaysia. Some 1.35 billion CMMT units will be listed. A total of some 786.5 million units will be offered for sale, with CMA retaining a 41.74 per...
Early this week, a developer gave itself a pat on the back for delivering good returns on its maiden residential project. Considering that almost every established developer made record profits in their recent history, was it such an achievement? If ever there was a period which could be described as a golden era for developers, the years from 2007 to the present day - with the exception of 2008 - must be...
The Government of Singapore Investment Corporation could be looking to list the logistics business of its real estate arm by as early as the fourth quarter of this year. A Reuters report said the sovereign wealth fund is seeking to raise at least S$1 billion in the initial public offering. This could make it the biggest IPO on the Singapore market since CapitaMalls Asia's listing last year. The report...
Location: 368 Thomson Road (District 11) Tenure: Freehold Year of Completion: 2015 Site Area: 60,566 sqft Total Units: 157 (one block, 36 storeys) Unit Types: 1 + study ~ 689 sqft 2 bedroom ~ 872 - 883 sqft 3 bedroom ~ 1,302 sqft 4 bedroom ~ 1,722 sqft 5 bedroom penthouses ~ 3,391 sqft Facilities: Swimming Pool, Therm Jet Pool, Children’s Pool, BBQ Area, Alcove Seats, Gym, Clubshouse, Sun Deck, Pool...
The 20,325 sq ft development expected to receive Temporary Occupation Permit by October 2013. Mainboard-listed property group Heeton Holdings is setting a new benchmark for the luxury Residential market with the unveiling of its latest freehold Residential development, iLiv@Grange. The exquisite development, which harnesses some of the top global talents in the industry, was unveiled at a press...