SIXTEEN freehold terrace houses at Fort Road in the Tanjong Rhu area are said to be close to being sold for about $86 million. Construction and property group Chip Eng Seng is believed to have been granted an option to buy the houses. However, this is still subject to one of the sellers - a company which owns a few of the houses - securing approval from its shareholders for the sale, BT understands. The...
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PENDER Court, off West Coast Highway, has been relaunched for collective sale at an asking price of about $100 million. That is about 20 per cent above the price the condominium fetched in an ultimately abortive sale in the 2007 property boom. Buyer Bravo Building Construction called off the deal in early 2008. The firm had, by then, also pulled out of two other collective sale deals - Tulip Garden near...
NATIONAL Development Minister Mah Bow Tan yesterday emphasised that the Government has a role to play in the property market, but any intervention is 'done sparingly'. 'We try not to intervene but when we do, we do it only because we want the market to work better,' he told The Straits Times in an interview. The Government wants to see a stable, healthy market, where prices are generally moving in tandem...
MR SIMON Cheong, president of the Real Estate Developers' Association of Singapore (Redas), raised government hackles this week when he questioned the need for government intervention to halt the rise of private home prices. He had asked if the state should be so concerned with the prices of private home prices, when the segment serves only 16.5 per cent of the population. The Government recently...
HEALTHCARE services provider Parkway Holdings could see a $60 million boost to its top line this year, fuelled by the sale of medical suites at its new Parkway Novena Hospital. All 100 suites launched over the past two weeks have been taken up, the group said yesterday. The units ranged from 452-1,431 sq ft. Going by the price - $3,588-$3,828 per sq ft excluding GST - this could add up to sales of more...
SIGNS of renewed confidence for global investors are very apparent today, after the global recession last year. Here are six markets that we would recommend to investors seeking to grow their property portfolio. Vietnam Vietnam's export economy and growing aspirational population makes it a strong market for growth potential. Also, demand for residential accommodation is outgrowing supply at a rapid...
Hong Leong Group has inked a deal to sell Marina House at Shenton Way for $148 million, BT understands. The buyer is believed to be a group led by niche property developer and investor Melvin Poh. Members of his consortium are said to include Victor Soh of Fortune Development. Market watchers suggest that Mr Poh, who also led the purchase of three ageing CBD office blocks last year with an eye to...
A NEW upscale condominium that is part of the trendy 'W' boutique hotel brand has made its debut in Singapore. The Residences at W Singapore Sentosa Cove, which boasts 228 apartments, will be priced from $2,500 to $3,000 per sq ft (psf), said City Developments (CDL) at the launch yesterday. The record in the gated island enclave is held by Seven Palms, where nine units went for $3,100-$3,430 psf late...
THE 76 Shenton condominium in the Central Business District sold out in one day during its preview as hundreds of buyers made a beeline for the prime project yesterday. There were so many people vying for one of the 202 units that balloting was needed to sort out who got first crack. The Straits Times understands that there were about 300 names in the ballot, with the buyers mostly Singaporean investors...
RESALE prices for private homes have gone through the roof this year and are now above the sky-high levels seen in the 2007 boom. A Savills Singapore report said average values in the segment in January and last month shot ahead of the dizzy heights set three years ago. The soaring prices are part of a larger picture that depicts the entire real estate sector roaring along in top gear. Rising prices in...