Once seen as a poor cousin to the prime East Coast area, the West Coast is gaining in popularity, with transformation of the entire western region underway. There are one-north, with Biopolis, its biomedical research cluster, and Fusionopolis, its infocomm and media cluster; wellknown tertiary institutions like the National University of Singapore (NUS) and INSEAD; parkland and green lungs like West Coast...
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CapitaMalls Asia has replaced Cosco Corp as a constituent stock of the STI. The change comes after the latest half-yearly review of the index. Meanwhile, the STI reserve list of the five highest ranking non-constituents of the index by market capitalisation are now, Keppel Land, Yangzijiang Shipbuilding, Ascendas Real Estate Investment Trust, Yanlord Land, and Parkway Holdings. These firms will be...
ONE of Hong Kong's biggest developers, Cheung Kong, has made its intentions clear for a sleepy mass market corner of the West Coast. It is asking what would be - if achieved - record prices for the area at a preview for The Vision, on West Coast Crescent. The preview, starting tomorrow, involves the release of up to 100 units mostly priced at $1,000 to $1,200 per sq ft (psf). This puts the starting...
CHEUNG Kong has set its sights on building the tallest - and perhaps priciest - condominium project in the West Coast area. The Hong Kong developer will launch The Vision at West Coast Crescent this weekend. It plans to release no more than 100 units at the 99-year leasehold project, and the average asking price will range from $1,000-$1,200 per sq ft (psf). The Vision comprises 281 apartments and 14...
Grand Park Orchard - formerly known as Park Hotel Orchard - will be opening its doors in July after an $80 million makeover. The five-star 308-room hotel at Orchard Road is Park Hotel Group's flagship property. Room rates are expected to be around $350 per night. Grand Park Orchard will bring more sparkle to the shopping belt with an eight-storey-tall media wall. It will also add to food and beverage...
They posted returns of 85.6%; Asian Reits performed well as a region: study REAL estate investment trusts (Reits) in Singapore have outperformed their counterparts in other major markets in terms of total returns in 2009, according to a report released yesterday. Ernst & Young's study showed that Reits Singapore and Hong Kong posted returns of 85.6 per cent and 64.5 per cent respectively in...
Investment buzz in shopping centre scene; Alpha takes stake in Katong Mall THE shopping centre investment scene seems to be abuzz. At least one property is being put on the market officially. Sun Plaza, located between Sembawang MRT station and bus interchange, will be marketed through an expression of interest exercise. The asking price for the 11-year-old mall, owned by Heeton Holdings and Koh...
CONSTRUCTION of the much-postponed Sports Hub is still on track to begin in the middle of this year, Mr Teo Ser Luck, Senior Parliamentary Secretary at the Ministry of Community Development, Youth and Sports, said yesterday. The entire complex should be up and running by the end of 2013 or early 2014, which is in line with the new target date set last November. The Sports Hub, a $1.87 billion...
I REFER to Sunday's report, 'City Harvest paying $310m to become Suntec co-owner'. While it is City Harvest Church's right to decide how it spends its money, there are related issues which the Government should address. Religious organisations are registered charities. Therefore, contributions and income are non-taxable. However, with more and more religious organisations venturing into business and...
Ties with Lippo had crumbled; TV issue may still go through Indonesian courts THE sale of a 44 per cent interest in Overseas Union Enterprise (OUE) for $957 million will bring closure to a five-year partnership between two South-east Asian tycoons that went sour. But it is unlikely to catalyse the resolution of any business differences that remain. On Tuesday, Indonesian James Riady's Lippo group doubled...