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Those looking to buy into high-end living will have more options, with the launch of "The Residences at W Singapore" at Sentosa Cove this weekend. With luxury homes touted to be star performers of 2010, market watchers expect developers to roll out more of them in coming months. This could run down their land bank and drive up collective sales later in the year. The launch of "The Residences at W...
Developer Hong Leong Holdings has fully sold its new downtown mixed development, 76 Shenton, which was launched on Thursday. The 39-storey development, at the corner of Shenton Way and Palmer Road has 202 residential units of one and two bedrooms as well as commercial space which will include restaurants-cum-retail units. Hong Leong said the one-bedroom units were priced between S$1,600 and S$2,600 per...
The Ministry of National Development (MND) has defended its Reserve Price system for state land tenders, and disagrees that it has constrained market forces in Singapore. It issued a statement to rebut what the Real Estate Developers' Association of Singapore (REDAS) President, Simon Cheong had said on Wednesday. Cheong cited two sites, Tampines and Ten Mile Junction, saying they were released for sale...
An industrial site at Woodlands Avenue 12 has been put up for sale by public tender. The Urban Redevelopment Authority (URA) said a developer has committed to bid at least S$25 million for the land parcel. The land parcel, which has a lease period of 60 years, has a site area of about 3.2 hectares and a maximum gross plot ratio of 2.5. It can be developed for a variety of uses under "Business 1"...
Frasers Hospitality is expanding its presence in the Middle East. It has opened its Fraser Suites Seef Bahrain in the kingdom's business and entertainment district. The 19-storey property has 91 one or two bedroom suites and three penthouses. Frasers said is the only international-class accommodation with direct access to the city's exclusive Seef Mall. The property in Bahrain is the first of five that...
Koon Holdings has entered the public housing market with a S$3.75 million acquisition. Koon, together with JKM Engineers, have bought ECI Corporation (ECIC) from Jasper Investments. The sale and purchase agreement is valued at S$5 million. Koon will have a 75 per cent stake in ECIC while JKM holds the remaining 25 per cent. ECIC is an approved precaster for Housing and Development Board (HDB)...
New, monthly price index will also help in development of property derivatives Singapore now has a second price index to provide information on the state of the private housing market here. The new Singapore Residential Price Index, or SRPI, aims to provide a resource for the development of property derivatives. It tracks month-on-month price movements in the private non-landed residential property...
Engineering and real estate facilities management group TEE International is jointly developing a property at Cairnhill Circle. Working with its partners TG Development and TG Capital Management, TEE plans to build an upper-middle range residential condominium for sale. TG Capital Management will carry out developmental services for this site. TEE and TG have also agreed to become co-developers. TEE...
THE property market has made a dramatic recovery over the past year. In the residential sector, prices of mass-market homes have even surpassed their 2007 peak. Expectations are running high that some time this year too the luxury segment will touch 2007 record highs. Things are also picking up in the office market, which has seen a flurry of leasing activity since Q4 last year. Demand has already turned...