Developer Far East Organization has won its 6th FIABCI Prix d'Excellence award. The award honours world-class developments for demonstrating excellence in all aspects of their creation. This year, Far East won the award in the Office Category for its mixed-use development, Central. Central is located above the Clarke Quay Mass Rapid Transit station, on a 1.3-hectare site in the city's civic, cultural...
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CapitaCommercial Trust plans to spend about S$92 million for asset enhancement work on its existing Grade A office building at Six Battery Road. Based on the property's valuation as at end December 2009, the cost is equivalent to approximately eight per cent. CCT says Six Battery Road will be physically, technically and functionally enhanced to meet the modern-day needs of office tenants and improve the...
The Urban Redevelopment Authority (URA) has released details on the sales conditions for the Reserve List site at Pioneer Road North and Soon Lee Street. The plot of land, which is meant for industrial development, will have a site area of about 1.4 hectares. It has a gross plot ratio of 2.0 and a 30-year-lease period. The site is also situated near to Pioneer MRT station. Under the Reserve List...
Concept Plan 2011 may sound like yet another bureaucratic exercise that will produce another paper to be filed away - and many people have simply ignored it. Past history shows that Concept Plans can actually be a big deal, though. Just look back a few decades. Minister for National Development Mah Bow Tan said recently: "In the first Concept Plan in 1971, we drew up plans for major infrastructure...
Singapore retained its ranking as the Asian city with the best quality of life, while Hong Kong lags rival financial hubs as it struggles with air pollution, according to a survey by Mercer Consulting. Singapore ranks 28 among 221 cities, Tokyo is at 40 and Hong Kong is placed 71, the list shows. The cities are rated on 10 factors including infrastructure, political and social environments, and access to...
The real estate arm of the Government of Singapore Investment Corp may list its logistics business in an initial public offering, according to reports. The listing, possibly in Singapore, will reportedly involve GIC Real Estate's Japanese assets, including ProLogis Holdings, which provides distribution facilities. The IPO is estimated to be valued at between US$500 million and US$1 billion and could take...
The Ophir-Rochor and Marina South land parcels, which may be up for redevelopment by the Singapore-Malaysian joint venture company, M-S Pte Ltd, could be worth hundreds of millions of dollars. Analysts believe that should M-S decide to open up the land to developers, it could trigger fierce bidding for prime real estate. Earlier this week, the Singapore Government said the 78-year-old Tanjong Pagar...
Singapore has moved up one spot to become the 17th most expensive retail location in the world. According to the latest CB Richard Ellis (CBRE) Global MarketView report on the retail sector, prime retail rents in Singapore stood at US$436 ($619) per square foot per annum in the first quarter of this year. It said prime retail rents in the world's leading shopping destinations have stabilised in most...
Nine properties belonging to three companies that are under liquidation have been put up for sale by public tender. They were made available after the High Court of Singapore ordered their owning solvent family companies - Associated Development, Chow Cho Poon and Lee Tung Company - to wind up and liquidate in 2007. The liquidator, Mr Tam Chee Chong of Deloitte & Touche LLP, has appointed property...
A land parcel at the Ophir-Rochor area, which might be up for redevelopment by the Singapore-Malaysian joint venture company, M-S, could be worth hundreds of millions of dollars. Analysts said should M-S decide to open up the land to developers, it could trigger fierce bidding for prime real estate. Choice property in the city is hard to find. A site at Ophir-Rochor area was removed from the government...