99-year plot may yield 600 units; consultants describe bids as sensible SIM Lian Land has emerged as the top bidder for a closely contested land parcel in Tampines. The developer led the field that included familiar names such as CapitaLand, Far East Organization, Frasers Centrepoint and MCL Land in a state land tender as demand for residential land continues to hold strong. Sim Lian bid $302 million...
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INDUSTRIAL landlord Ascendas Real Estate Investment Trust (A-Reit) has enhanced its capital structure through a series of capital management initiatives. As a result, the trust has effectively extended its weighted average debt maturity to 4.5 years - from 2.4 years - and secured funds for acquisitions, it said yesterday. The trust has extended a $300 million loan that was due this month by seven years...
Tender to lease out historic property which has been vacant for 6 years After being left vacant for about six years, the former Alkaff Mansion on Telok Blangah Hill may spring to life again. Singapore Land Authority (SLA) has launched a tender to lease out the property, which has conservation status, for the following uses - food & beverage/ restaurant, art gallery, wellness/spa facilities and...
CONSTRUCTION player Lian Beng Group has won a $78 million contract from Far East Group to build Centro Residences, with completion expected by January 2013. The deal - the second in two weeks for Lian Beng - is for a 34-storey residential tower, multi-storey carpark, clubhouse, swimming pool, playground and ancillary facilities at Far East's condominium development opposite Ang Mo Kio MRT Station. Work is...
From April 1, estate agencies must have a valid Professional Indemnity (PI) insurance to renew their accreditation status with the Singapore Accredited Estate Agencies (SAEA). The SAEA recommends a minimum limit of indemnity of S$500,000. SAEA said the move is designed to strengthen consumer confidence in estate agents who are believed to handle eight out of 10 real estate transactions. Having a...
Developer Sim Lian Land placed the top bid of S$302 million for the residential site at Tampines Avenue 1 & Avenue 10. The tender for the 3.2 hectare site with a lease of 99 years attracted a total of eight bids. The second highest bid of nearly S$288.99 million came from a joint venture of Far East Organisation and Frasers Centrepoint. That's followed by MCL Land's bid of about S$278.3...
16@Amber is uniquely situated near the Business District and at the Katong Vicinity. Feast your eyes on the array of shopping centres (Parkway Parade, Katong Shopping Centre) and eating outlets nearby. Sea lovers will enjoy the serenity of the sea via the East Coast Park just minutes away. East Coast Park is ideal for family gatherings, activities or just a venue of relaxation. Moving around will be easy...
The Housing and Development Board (HDB) has launched two new Build-To-Order (BTO) projects - Fernvale Ridge in Sengkang and Sembawang RiverLodge in Sembawang. Close to 830 flats will be offered in total, most of which are four-room units. HDB said 95 per cent of the flats will be set aside for first-timers. Flats in Fernvale Ridge range in price from S$128,000 for a three-room unit to S$352,000 for a...
The Singapore Land Authority has put up the former Alkaff Mansion for tender. The site near Mount Faber can be used as a restaurant, art gallery, spa or museum. The successful tenderer can lease the site for an initial three years, with an option to extend for another two terms of three years. But analysts said that developing the site into a success will be challenging. The former Alkaff Mansion...
Mainboard-listed Ascendas Real Estate Investment Trust (A-REIT) said it has enhanced its capital structure through a series of capital management initiatives. It said it has conducted a successful offering of S$300 million of exchangeable collaterised securities (ECS) due in 2017 with a put option in 2015. The ECS was priced at a coupon and yield to maturity of 1.6 per cent with an initial exchange price...