Units of a new development located in the Kaki Bukit Industrial Estate are being put up for sale. The development, called "First East Centre", sits on the first site that is zoned for "Business 2" use and can be used for most trades including engineering and manufacturing. First East Centre, developed by KNG Development, is a four-storey ramp-up industrial building located at 10 Kaki Bukit Road 2. The...
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Mainboard listed construction company Lian Beng has secured a S$95 million contract from Sing Holdings to build The Laurels. The Laurels is a premium condominium development at Cairnhill Road. This is Lian Beng's third contract within a month, following the company's recent awards to build "Centro Residences" and "Waterbank at Dakota". The value of contracts secured since mid March stands at S$317...
Many caught by surprise by strong home sales; trend likely to continue this year Major developers, caught by surprise by strong home sales in the past year, are now faced with fast depleting landbanks. Research compiled by property firm DTZ shows that out of 16 major developers in Singapore, half had less than 1,000 residential units left in their landbank as of end-February this year. Another five...
A RARE penthouse maisonette in Bishan Street 24 has become the most expensive HDB flat ever to be sold in Singapore. Its owner has accepted an offer for $900,000 for the 1,860 sq ft flat - $170,000 above its valuation. The buyers are an Indian Singaporean couple, according to a report in Lianhe Wanbao yesterday evening. It said the flat, which is on the 24th floor, was bought by the current owner 10...
Agents report drop in number of purchase enquiries and applications Recent government measures to curb speculation in HDB flats appear to have affected sentiment in the resale market, at least for now. Property agents BT spoke to recount cases of buyers walking out of deals shortly after the new rules were announced. A few also observed a drop in the number of purchase enquiries or applications. The...
A COURT has found that an agreement between Electronic Realty Associates (ERA) and a property owner could result in 'unjust enrichment' for the property agency. District Judge Francis Tseng has thus ordered four lawyers to return to Mr Simon Suppiah Sunmugam the money they had paid out as commission to the agency. The lawyers had earlier released $28,000 as commission to ERA from the sale of Mr Suppiah's...
CITY Harvest Church has taken a new round of flak over its Suntec deal. The megachurch disclosed during its weekend Easter services that it received a lawyer's letter last Thursday from its fellow investors in the consortium holding a majority stake in Suntec Singapore, reminding it to keep to a non-disclosure agreement in the deal. The church, which recently invested in the consortium, said some...
Mass market home prices have surpassed the previous 2008 peak. But because home loan interest rates remain at an all-time low, these homes are still seen as affordable, property consultancy DTZ said. Its head of South-east Asia research, Ms Chua Chor Hoon, said its mass market affordability index shows that such homes at the end of the first quarter of this year were more affordable, compared with the...
Take a stroll from Tanglin to Orchard and you will not miss these aged stalwarts of the shopping strip: Tanglin Shopping Centre, Far East Shopping Centre, Lucky Plaza, Far East Plaza, Orchard Towers and Orchard Plaza, with their 1970s architecture and haphazard mix of retailers. Already, one of them might be on its last legs: Orchard Road's oldest mall, the 38-year-old Tanglin Shopping Centre, which...
The new malls are not having it all their own way. Popular but older malls are renovating to give the newbies a run for their money. Undergoing a spruce-up are Raffles City Shopping Centre and Takashimaya Department Store. At Raffles City, renovations started last month on its first basement to make way for new retail and F&B offerings. There will also be a direct underground link from the mall's...