Cavenagh Mansions, a freehold residential redevelopment site along Cavenagh Road, has been put up for sale by tender. Its marketing agent Knight Frank said the guiding sale price is S$55 million to S$60 million. This translates to a land price of S$1,258 to S$1,367 per square foot per plot ratio. This is based on the potential gross floor area of about 45,768 square feet, inclusive of the additional 10...
General
Southeast Asia's largest property developer CapitaLand said it has seen strong response for its first residential property in Vietnam. At a topping out ceremony in Ho Chi Minh City on Tuesday, CapitaLand said it has sold three quarters of the units available in the development, called The Vista. The property is about 10 minutes drive from the central business district. The Vista is expected to be ready...
Another site is set to test the en bloc property market here. Goodrich Park at Simon Lane has been released for sale by tender with an asking price of S$80-85 million. At that price, each owner stands to get on average between S$1.54 million and S$1.63 million. The site, located in District 19 near Kovan MRT, is currently a 52-unit development. It has a land area of close to 98,000 square feet with a...
Sky@eleven, a freehold condo development by Times Development Pte Ltd, a wholly-owned subsidiary of Singapore Press Holdings (SPH), has obtained Temporary Occupation Permit (TOP) last month. Speaking at the completion ceremony today, Dr Tony Tan, Chairman of SPH, said: "The completion of Sky@eleven, through our wholly-owned subsidiary Times Development Pte Ltd, has proven that we are able to deliver more...
Dozens of interested homebuyers are looking to acquire new homes, despite an unstable stock market affecting property market sentiment. Over the weekend, another 120 units at The Minton project in Lorong Ah Soo had been sold, following the 180 units fetched last week, taking the total sales to 300 units for the recently released condo project. Prices of units in The Minton were unchanged at around $850...
Mainboard-listed Tiong Seng Holdings says its unit, Tiong Seng Contractors, has secured a S$146 million contract to design and build an environmentally-friendly condominium. The contract for the condo, called Tree House, was awarded by Chestnut Avenue, a joint venture between City Developments and Hong Realty. The 429-unit condominium project is located on Chestnut Avenue, off Upper Bukit Timah...
Southeast Asia's largest property developer, CapitaLand, is doubling its real estate investments in Vietnam to up to US$2.5 billion over the next three to five years. It is aiming to build affordable homes and shopping malls in major Vietnamese cities like Hanoi and Ho Chi Minh City, said CapitaLand's CEO Liew Mun Leong on the sidelines of an event in Hanoi. CapitaLand now spends about US$1.2 billion in...
China's residential property market could stabilise by the first quarter of next year, as more supply becomes available, according to financial services firm Nomura. It said office space could be the segment to watch in Asia Pacific this year because of low valuations and stable yields. The property bubble in China is raising some red flags in the country, but Nomura said the market is likely to cool in...
Service apartment operator Ascott Group plans to invest US$100 million over the next three years in Vietnam. The investment will double the number of its existing service apartments in that country to about 1,800. Currently, the company has about five existing service apartment properties under the Somerset brand in Hanoi and Ho Chi Minh city, offering about 900 units. Another three properties, with...
United Engineers said it has been awarded a turnkey contract by OCBC Bank to redevelop the former Specialists' Centre and Hotel Phoenix site. The cost of the project is worth around S$550 million. The project will be carried out in two phases. Phase 1 will consist of the development and construction of a hotel-cum-retail mall and a pedestrian bridge, and Phase 2 will be the construction of an...