The upswing in office leasing deals continues, helping to absorb more of the space in new office projects being built. Much of the latest leasing buzz has focused on Ocean Financial Centre (OFC) and 50 Collyer Quay, which are completing next year, as well as 71 Robinson Road, which was completed last year. Click here to find out more! Law firm Drew & Napier is believed to have inked a lease for...
General
Enormous investment opportunities lay in the emerging superpower, says Cityscape Asia 2010 China holds enormous opportunities for investment as its economy surges, say leading economists and investment experts at Cityscape Asia 2010 in Singapore yesterday. Speaking at a keynote session on evaluating the economic outlook for China 2010 and beyond, David Wong, Chief Economist at Shui On Land, said the...
The government is ramping up the supply of sites for private housing in the second half of the year to meet strong demand. All in, the second half of the Government Land Sales (GLS) programme will have 27 residential sites and four mixed-use sites where private housing can be built. 21 are new sites and 10 sites will be carried over from the first half. Overall, the 31 sites in the second half of the...
Property developer Bukit Sembawang Estates has returned to profitability in the fourth quarter and the full year ended March 31, 2010. For the quarter, net profit was at $41.90 million compared to a net loss of $61.44 million a year ago. Revenue rose to $21 million from $4.86 million. In the full year, profit was at $52.97 million, compared to a net loss of $48.41 million a year ago. Revenue rose 5.4% to...
Serangoon North residents can look forward to a S$7 million Neighbourhood Renewal Programme. The project will enhance the living environment for some 2,000 households living in 29 blocks along Serangoon North Avenue 1 and 2. The new and upgraded amenities are aimed at encouraging families, community and social groups to gather, socialise and improve community bonding. Proposed amenities include...
The government is ramping up the supply of sites for private housing in the second half of the year to meet strong demand. All in, the second half of the Government Land Sales (GLS) programme will have 27 residential sites and four mixed-use sites where private housing can be built. 21 are new sites and 10 sites will be carried over from the first half. Overall, the 31 sites in the second half of the...
CapitaMall Trust held a groundbreaking ceremony for its new mall on the site of the former Jurong Entertainment Centre in Jurong East Central 1 Friday. Named JCube, the 204,000 square feet mall will comprise five levels of retail, two basement levels of car park and a rooftop landscaped plaza. Some features include round-the-clock F&B outlets and an Olympic-size ice skating rink to host international...
While the announcement on Monday that developers sold 2,207 housing units last month did not shock, it certainly caused a huge surprise. The total was the second-highest number achieved since records began being kept from June 2007 onwards. A closer analysis of the figures has shown that prices have continued to inch up. The highest monthly sales figure of 2,772 was achieved in July last year. The...
Interbank lending rates have fallen to all-time lows here and market watchers have raised concerns that cheap lending may lead to over-heating in the property sector. Responding to media queries at a Ministry of Trade and Industry briefing yesterday, Monetary Authority of Singapore (MAS) deputy managing director Ong Chong Tee said the fall in Sibor rates partly reflects market expectations of a stronger...
The Hougang Avenue 2 residential site has attracted the highest bid of S$207.5 million from MCL Land at the closing of its public tender by the Urban Redevelopment Authority. The bid works out to S$456 per square foot per plot ratio. This is 9.6 per cent higher than the second highest bid of S$189.3 million submitted by Frasers Centrepoint. The site has attracted a total of seven bids, with the...