The owners of a new shopping mall in Serangoon Central, called nex have reported strong demand with 95 per cent of space leased out to over 300 confirmed tenants. Property developer Gold Ridge revealed the figures on Wednesday with the announcement that the building has been topped out. With more than 600,000 square feet of net lettable area, Gold Ridge said nex will be the largest mall in the North East...
General
The Singapore Accredited Estate Agencies has identified some gaps in the real estate sector and it hopes to plug them before new rules to regulate property agents kick in later this year. It's partnering the Singapore Institute of Surveyors and Valuers to help property agencies improve productivity through the use of technology. Part of that initiative will focus on rolling out more courses for...
A commercial site within the biomedical hub of one-north will be put up for sale by public tender. JTC Corp Thursday announced an application from a developer for the 1.8-hectares plot of land located at North Buona Vista. The developer, which was not named, has committed to bid at a price of not less than S$320 million. The 99-year lease site was placed on the government's Reserve List system since...
Singapore construction firm Tiong Seng Holdings has signed a deal to jointly develop up to three plots of land in Tianjin Eco-City. It will be working with the property's master developer, Sino-Singapore Tianjin Eco-City Investment and Development Co, and Japanese firm Mitsui Fudosan Residential Company. The joint venture deal is worth 4.5 billion renminbi. Tiong Seng holds a 9 percent stake or about...
For the first time in decades, Singapore economy has topped Hong Kong's and the United States' in the World Competitiveness Yearbook rankings. This is according to Swiss business school IMD. It said Singapore has displayed great resilience through the financial crisis despite suffering high levels of volatility in their economic performance. And it is now taking full advantage of the strong expansion in...
The Housing and Development Board (HDB) has received 552 applications so far for its Lease Buyback Scheme. The scheme was launched in March 2009 to help the elderly in three-room or smaller flats unlock their housing equity to meet their retirement needs by selling their HDB flats to the government for cash. Parliamentary Secretary for National Development Mohamad Maliki Osman told Parliament on...
The latest Build-To-Order Project, Boon Lay Grove in Jurong West, is receiving heavy interest from home buyers. Observers say the upcoming Jurong Lake District makes the location more attractive. Based on latest figures from the HDB website, more than 3,800 people have applied for the 450 units being offered. That is close to nine times as many applicants as there are units. Some 2,500 people have...
Changes to the Land Titles (Strata) Act were passed in Parliament yesterday, providing more clarity to the en bloc sales process. But some Members of Parliament said the amendments may not fully take into consideration the interest of property owners. Expected to take effect next month, the amendments are intended to provide greater transparency and streamline procedures for collective sales, after the...
Some have called for the Reserve Price of State lands to be disclosed - and yesterday, Minister for National Development Mah Bow Tan explained why the Government did not think it would make the system work any better. "If we were to reveal the Reserve Price for sale sites, then it may influence or distort the developers' independent assessment of land prices and their bids, or deter some developers from...
Minister for National Development Mah Bow Tan maintains that the reserve bid prices for state lands available for sale will have to remain undisclosed so as to allow the determination of fair market value for the site. "If we were to reveal the reserve price for sale sites, then it may influence or distort the developers' independent assessment of land prices and their bids, or deter some developers from...