The tender for a commercial-residential site at Ten Mile Junction in Choa Chu Kang has attracted eight bids. The 1.56-hectare site is the first to be launched for tender this year under the Confirmed List of the government land sales programme. The top bid of nearly S$164 million came from Dollar Land Singapore, a subsidiary of Lucky Realty Company. This translates to a tendered sale price of some...
General
More land for industrial use is being made available to the market. The Urban Redevelopment Authority (URA) said on Tuesday that it has accepted an application from a developer to put up the industrial site at Yishun Avenue 6 for public tender. The land parcel was made available for sale through the Reserve List system in May 2007. Under the system, a site would be released for sale only if a bid with an...
Property developer UOL Group on Tuesday said that its full-year profit nearly tripled to S$424.1 million. The good showing came on the back of a 12 per cent increase in revenue to S$1 billion. UOL said the increase was due mainly to higher income from property development and property investments. Such earnings helped to partially offset higher finance expenses. While there are still concerns over the...
The Housing and Development Board (HDB) is committed to providing sufficient and affordable flats to first-time Singaporean homebuyers, and it will make no distinction between indigenous and new citizens. Senior of Minister of State for National Development, Grace Fu, said this in Parliament on Monday in reply to a question on how many new citizens rented homes, compared with those who bought...
A new Land Intensification Allowance (LIA) will replace the current Industrial Building Allowance (IBA) with qualifying firms being granted a first-time allowance of 25 per cent, then five per cent annually for qualifying expenditures on the construction of buildings. Structures from the pharmaceutical, petrochemical, petroleum, chemical, semi-conductor, aerospace, marine & offshore, as well as solar...
The Government has introduced two new measures to cool the property market and pre-empt a bubble from forming in the private homes sector. They come into effect Saturday. The Ministry of National Development said this will help ensure a stable and sustainable property market, and to curtail the HDB resale market where prices tend to track private property movements. From Saturday, it will be more...
Property developer CapitaLand said it has generated S$17 billion in total shareholder returns over the last decade. The company disclosed this at its 10th anniversary celebrations on Friday evening. The firm celebrated its success in transforming itself from a S$9 million company to a group that now commands a market capitalisation of S$40.3 billion as of the end of last year. CapitaLand was formed from...
With the opening of Genting Singapore’s Resorts World at Sentosa integrated resort, there has been a flurry of transactions at Caribbean at Keppel Bay and also the upmarket condominium projects in Sentosa Cove. In the week of Jan 15 to 22 alone, there was a total of nine new sales and resales. The condominium that saw the most resale activity was the 969-unit Caribbean at Keppel Bay developed by Keppel...
The number of people living in HDB flats has increased. According to HDB's latest Sample Household Survey, the number of Singaporeans and PRs who are flat dwellers, increased 2.7 per cent over 5 years to 2.92 million in 2008. This figure made up 96 per cent of the total population in HDB flats.The remaining 4 per cent were foreigners, which includes maids and tenants. The average HDB dweller is also now...
Property developer Roxy Pacific has doubled its profit in the fourth quarter. Profit for the three months ended December soared 104 per cent to S$5.9 million on higher sales growth in the group's property development division. Revenue over the same period rose 47 per cent to S$44 million. However, the improvement in turnover was offset by a 16 per cent decrease in revenue from the group's hotel ownership...