THE private homes market remains buoyant, with more than 200 units sold at a new launch and the year's third collective sale site sealed. UOL Group said it has sold more than 200 units of Waterbank at Dakota in Dakota Crescent at a preview that started on Wednesday. Prices ranged from $1,000 per sq ft (psf) to $1,300 psf. With 616 units, it is the first project here without bay windows and planter...
General
CITY Developments Ltd (CDL) executive chairman Kwek Leng Beng received 'above $7.5 million and up to $7.75 million' for the financial year ended Dec 31, 2009, unchanged from FY2008. CDL posted a net profit of $593 million last year, up 2.1 per cent from the preceding year. In FY2007 - when CDL posted record net earnings of $725 million - Mr Kwek's remuneration was 'above $7.75 million and up to $8...
Fragrance Properties has bought the Culford Garden estate at Siglap for S$39 million in a collective sale. The price translates to a land rate of about S$574 per square foot per plot ratio at a Gross Plot Ratio of 1.54. The 24-unit Culford Garden has a land area of 44,094 square feet and is zoned for residential development with an allowable height of up to five stories. Each owner could get an average...
This exceeds any quarter of 2009, says Colliers Int'l More high-end homes surfaced at auctions in the first quarter of this year, mostly involving owner sales, the latest figures from Colliers International show. About $13.4 million of such properties changed hands at auctions in Q1, higher than any quarter of last year. The total value of all properties sold at auctions in the first three months of...
AFTER three changes of ownership in seven years, the iconic Raffles Hotel looks headed for a makeover after its pending sale to a Qatar sovereign wealth fund. Qatari Diar, which is expected to assume ownership of the hotel by early next year, is looking to fund an earlier-announced extension to the hotel that envisages almost doubling the number of guest rooms. Last April, Saudi Arabian investment...
NEARLY all of the first phase of the giant Marina Bay Financial Centre (MBFC) has been leased ahead of its completion later this year. Every office suite - with the exception of a small percentage reserved for existing tenants' expansion - is now taken, several months prior to the phase's official completion in the third quarter. Phase 1 consists of commercial Towers One and Two, and has a total office...
Unnamed developer commits to bid at least $350m for 1.9 ha parcel THE government will launch a 99-year leasehold mixed-use site at Jurong Lake District in two weeks - the first plot put up for sale there since the masterplan for the area was unveiled two years ago. The Urban Redevelopment Authority said yesterday that an unnamed developer has committed to bid at least $350 million for the 1.9 ha parcel,...
It plans to launch more waterfront homes in S'pore KEPPEL Land is upbeat about the prospects for residential property in Singapore and other key markets it operates in, it says in its latest annual report. In 2009, the developer sold 384 homes in Singapore and about 3,100 overseas. Keppel Land now intends to push out more waterfront homes in Singapore. After Caribbean at Keppel Bay and Reflections at...
A MIXED development site next to Jurong East MRT station is set to be put up for sale and kick-start the transformation of the area into Jurong Lake District. The tender, which is expected in two weeks, has been triggered by an unnamed developer which has committed to a minimum bid of $350 million, the Urban Redevelopment Authority said yesterday. It marks the first big step in the morphing of the sleepy...
Re-gentrification of the once trendy area that has suffered a blow to its reputation is starting to take root, report OLIVIA HO and JAIME EE WHEN it came to picking a location for her new gastrobar, Celina Tan had myriad options to choose from. She could join the here-today-gone-in-six-months concept restaurants that clutter Dempsey village, the quieter, leafy surrounds of Rochester Park, or even add to...