Any makeover plans for Raffles Hotel, which is to be sold to a Qatar sovereign wealth fund, will have to take into account its status as a gazetted National Monument. Proposals for any addition or alteration to the iconic landmark building must comply with the Preservation Guidelines (PGL) under the Preservation of Monuments Act, and will require the approval of both the Urban Redevelopment Authority...
General
With effect from 30 April this year, the Urban Redevelopment Authority (URA) will take over the secretariat function for the Street and Building Names Board (SBNB) from the Inland Revenue Authority of Singapore (IRAS). According to its press release, it will also launch a slew of e-services for the application of street, estates and building names. Agents or owners will now be able to apply for streets,...
Market watchers have welcomed proposed changes to the en bloc sale regulations tabled in Parliament on Monday. They said the move is timely and could help stabilise property prices. Farrer Court was among 111 estates sold at the peak of the en bloc market in 2007. This year, there are only four deals so far and analysts expect the market to pick up as developers replenish their land bank. The four en...
Real estate investment trust Starhill Global said its restated first quarter distribution per unit or DPU rose 2.2 per cent to 0.95 cents for the period ended March 31. This is 2.2 per cent higher compared to 0.93 cents achieved for the previous corresponding period. Net distributable income for the period fell 1.8 per cent to S$18.7 million from S$19 million a year ago. However, net property income saw...
Buyers of new HDB flats may be able to get their keys more quickly. The Housing & Development Board is looking at how to shorten the wait, from three years to two or two-and-a-half years. National Development Minister Mah Bow Tan said the HDB will consider building new flats before selling them, especially in cases where the subscription rate is high. He also stressed that new HDB flats remain...
Property consultancy Jones Lang LaSalle has launched the tender sale of five adjoining shophouses along Upper Bukit Timah Road. The asking price is between S$9.5 million and S$10 million for the group of properties located near Bukit Panjang Plaza, the future Ten Mile Junction development and The Rail Mall. The price translates to S$408 to S$426 per square foot per plot ratio. The tenanted, freehold...
Mainboard-listed IPC Corporation has bought a 77-unit uncompleted condominium project in Tokyo for about S$21 million. IPC said it has also agreed to pre-sell the units to two unnamed Japanese real estate companies when the project, named Uraga, is completed. The company said the project's foundation level has been completed and the building is scheduled to be completed in February or March next...
The government has proposed several changes to provide more clarity to the en bloc sales process. An amendment bill to the Land Titles (Strata) Act was tabled in Parliament on Monday. It seeks to address the role of the Strata Titles Board, balance the interest of property owners and streamline the collective sale process. The changes are expected to take effect in June. A key revision that's been...
The Urban Redevelopment Authority (URA) has launched the first sale site from the upcoming Jurong Lake District. It launched the sale by public tender after a developer committed to bid at least S$350 million for the land parcel. The site located at Jurong Gateway Road was made available for sale via the government's reserve list system since November 2008. The 99-year-leasehold site has a maximum...
The Mountbatten area has seen transactions of landed homes pick up pace in recent months, with a couple of bungalows on Branksome Road, Wilkinson Road and, most recently, Ramsgate Road changing hands at prices above $1,000 psf since the start of the year. Bungalows in the Mountbatten area are very much sought after,” says William Wong, managing director of RealStar Premier Property, who specialises in...