Construction costs could rise this year more than the 3-5 per cent forecast because of a combination of new factors, says quantity surveyor Davis Langdon & Seah (DLS). In a report released yesterday, DLS says factors such as the increase in the foreign workers' levy and reduction in man-year entitlement, announced in March, could add between one and 2 per cent to construction costs. New iron ore...
General
SIXTY-FIVE per cent of the space in phase one of Marina Bay Link Mall has been taken up and the mall will open for business in the fourth quarter of this year. The 5,202 sq m mall will house retail and food-and-beverage outlets such as Din Tai Fung, Absolut Thai, an Apple concept store and Four Seasons Market Place. Wilson Kwong, chief executive of Raffles Quay Asset Management, announced the...
SOILBUILD Group Holdings submitted the highest bid for an industrial site at Yishun Avenue 6 in a government tender, the Urban Redevelopment Authority (URA) said yesterday. There were five bids for the 1.43 hectare plot, which was offered for sale on a 60-year lease. Soilbuild's $29.29 million bid, which works out to $76 per square foot per plot ratio (psf ppr), was 4 per cent higher than the second...
THE trouble that Millennium & Copthorne New Zealand, a subsidiary of City Developments Ltd (CDL), has with a Chinese joint-venture (JV) partner has taken an ugly turn. Properties are said to have been sold by the partner unlawfully. CDL shares ended 2.27 per cent lower at $11.22 yesterday despite an assurance on Monday that there was unlikely to be a material impact on its financials, as its...
Skyrocketing property prices have spurred many divorced Chinese couples to continue living under the same roof while they await the best time to sell their homes. Based on cases in a Beijing court, the Beijing Morning Post suggested on Monday that about 10 per cent of divorced couples in China who were born after 1980 preferred to maintain their financial ties and shared property. The living-together...
FOUR plum residential sites which will yield almost 2,000 new homes are being released for tender by the Government in a move to ramp up supply in Singapore's hot property market. They include Punggol's first executive condominium (EC) site, to boast 615 homes, which will be released for tender early next month as a developer has already made a minimum bid of $147.7 million. In stark contrast, when a...
More new housing units will be added to the market to give buyers more choices. The Housing and Development Board (HDB) will put on sale on Wednesday two residential sites in Sembawang and Sengkang. It also put two other sites in Punggol and Yishun on the reserve list for public tender early next month. They are expected to yield about 1,970 dwelling units. About 60 per cent or about 1,215 are Executive...
Leasing momentum in the office sector remains strong with an improving economy. Analysts said this has drastically cut the amount of so-called "shadow space" or vacant office space not on the market. In the first half of 2009, shadow space was 550,000 square feet. Now, it's just a tenth of it. Meanwhile, demand for new office space like the Marina Bay Financial Centre has eased concerns of a supply...
THE sizzling property market is prompting even the developers themselves to snap up units in their new projects, especially high-end properties. Singapore Exchange filings show that at least four listed developers have sold units in their residential developments to relatives or 'interested parties'. An interested party can be a director, a chief executive, a controlling shareholder or one of their...
They are at River Valley Cl, Chestnut Ave; recent property releases yield mixed response DEVELOPERS are busy readying private residential projects for launch to meet demand from buyers before the onset of competition, including projects on new sites being sold by the government. Tiong Aik group is expected to preview this week its freehold Starlight Suites at River Valley Close at an average price of...