DEVELOPERS continue to hunger for land. The Urban Redevelopment Authority has announced that a private housing site at Upper Changi Road North/Flora Drive, next to Edelweiss Park Condominium, has been triggered for release from the government's reserve list. An unnamed developer has agreed to bid at least $82 million or $177.37 per square foot of potential gross floor area. The 99-year leasehold plot is...
General
A FLASHY new wing that jazzed up Northpoint Shopping Centre has also helped attract an additional 800,000 visitors a month through the mall's doors. The $38.6 million revamp has also enlarged the mall by over 50 per cent and brought the total space available for rent to 235,000 sq ft. The number of shops has shot up from 90 to 168. 'This has brought in a 10.7 per cent return on investment', said Dr Chew...
CONSTRUCTION has been a flourishing industry right from the earliest days of modern Singapore. Pioneering building contractors in the 19th century included Lim Loh, who built the Victoria Memorial Hall and the old Parliament House, and Naraina Pillai, the man behind Sri Mariamman Temple, the first Hindu temple here. Immigrant labourers who assembled this city, brick by brick, included Indian convicts...
WORKS on a lift upgrading project in Eunos that had been delayed for about 10 months restarted yesterday. Progress was made at a meeting on Thursday when the Housing Board agreed to 10 out of 15 requests from unhappy residents. The home owners in Blocks 411, 415 and 417 in Eunos Road 5 had protested that new lift shafts already built blocked light and ventilation to their flats. The HDB, which stopped...
FRASERS Centrepoint Trust's (FCT) Northpoint mall has seen a 20 per cent hike in average rentals and a 70 per cent climb in shopper traffic after it was expanded and revamped. The mall, which is located right next to Yishun MRT station, increased its net lettable area by more than 50 per cent with the addition of a $165 million new wing and a $38.6 million asset enhancement initiative. The new NLA is...
Another Reserve List site has been triggered. The Urban Redevelopment Authority (URA) said it will launch for sale a residential site at the junction of Upper Changi Road North and Flora Drive in two weeks' time. It said a developer has committed to bid no less than S$82 million for the three-hectare site. The minimum price is acceptable to the government. URA said the land parcel can yield 390...
The luxury seafront condominium The Vision at the West Coast has received good response. All of the 100 units allocated for its first phase of sale on the opening day of its private preview have been sold. Prices for the two-bedroom to four-bedroom units range from around S$1,000 to S$1,2000 per square foot. All the penthouse units have also been snapped up fetching S$3.6 million each. The 99-year...
Parliament has passed changes to the Stamp Duties Act. The amendments will give legislative effect to the seller's stamp duty, which was re-introduced on February 20 as one of the measures to discourage property speculation. Those who sell their residential properties and residential lands within one year of purchase February 20 will have to pay a duty of one per cent for the first S$180,000, two per cent...
Frasers Centrepoint Trust is optimistic about the outlook for suburban malls in Singapore. It's just completed a major revamp of the Northpoint shopping centre in Yishun. Costing almost S$40 million, the renovations are part of Frasers Centrepoint Trust's plans to rejuvenate all its malls. More shops targeting youths and family attractions are part of the new tenant mix at Northpoint. This includes 20...
The Housing and Development Board (HDB) has taken action against 56 flat owners for illegal sub-letting between January 2008 and December last year. Most were fined between S$1,000 and S$21,000. One owner had his flat repossessed for blatantly flouting HDB's sub-letting rules. Giving details of the case, HDB said it first received feedback on the unauthorised sub-letting of a unit in Block 336 Bukit...