Property consultant Colliers International said Singapore's industrial property sector will recover by the second quarter of this year. It said the industrial property price index is poised for recovery in the fourth quarter of 2009 at the earliest or by the second quarter of this year at the latest. Colliers cited several reasons for its assessment. Historically, the industrial property sector lags the...
General
An underground pedestrian walkway will link City Hall MRT station to the future development at the Capitol Theatre site, on the other side of North Bridge Road. National Development Minister Mah Bow Tan said the underground link will be constructed by the developer of the site, as part of the site tender requirements under the Government Land Sales Programme. From the Capitol Theatre site, pedestrians...
The Housing and Development Board (HDB) will build about 12,000 new Build-To-Order (BTO) flats this year, if demand is sustained. National Development Minister Mah Bow Tan said this would be supplemented by flats under the Design, Build and Sell Scheme as well as executive condominiums. In reply to a Parliamentary question, Mr Mah said HDB is committed to ensuring a sufficient supply of new flats. Last...
A ground breaking ceremony for a fourth Vietnam-Singapore Industrial Park (VSIP) development was held in Hai Phong, Vietnam on Wednesday. The Guests of Honour at the ground breaking ceremony were Singapore's Prime Minister Lee Hsien Loong and Vietnamese Prime Minister Nguyen Tan Dung. Both leaders had earlier graced the 10th anniversary celebration of the first VSIP project in Binh Duong province, which...
Keppel Land has signed a joint venture agreement with its Vietnamese partner Tien Phuoc to develop an 11-hectare waterfront residential site for 175 villas fronting the Saigon river in Ho Chi Minh City. The signing was witnessed by Prime Minister Lee Hsien Loong and Vietnamese Prime Minister Nguyen Tan Dung. This is the third project that Keppel Land and Tien Phuoc are working on together. The other two...
Property developer CapitaLand has signed a joint venture agreement for a second residential project in Hanoi, Vietnam. The agreement with Vietnamese real estate developer Hoang Thanh is to jointly develop a 14,000 square metre residential site in Ha Dong district in Hanoi. Prime Minister Lee Hsien Loong and Vietnamese Prime Minister Nguyen Tan Dung witnessed the signing in Hanoi on Tuesday. CapitaLand...
Owners of HDB flats who sub-let rooms will have to register with HDB within 7 days of doing so. The rule, taking effect from February 1, also requires owners to notify HDB when they renew or terminate the sub-letting of rooms, and when there are changes to their sub-tenants' particulars. The Housing and Development Board (HDB) said the new requirement will support the Ministry of Home Affairs's efforts...
Mainboard-listed construction firm Lian Beng Group on Tuesday said its half year net earnings rose 28 per cent to S$11.4 million from a year earlier. This was on the back of a 4 per cent rise in revenue to S$157.6 million for the six months ended November. Lian Beng said the top-line growth was driven by revenue recognition on progress made in the construction of various projects. These include the Ritz...
Public bookings for Resorts World Sentosa hotels opened on Monday and more than 3,300 enquiries poured in. Some 300 reservations were made on the first day of bookings as people took advantage of discounted opening rates. The hotels are set to open to the public on January 20. To help ensure smooth visitor arrivals at the integrated resort, taxi drivers were given a drive-through tour of the three main...
Since the completion of The Metropolitan last June, prices of the 382-unit condominium located along Alexandra View have increasingly crossed the $1,000 psf level, even surpassing the peak in 2007. Last September, a historical high of $1,332 psf was reached when a 732 sq ft unit on the 24th floor was sold for $975,000. Prior to its completion, prices there had largely hovered below $1,000 psf since its...