Office rents in Singapore are down almost 50 per cent for the entire 2009 and observers said this is mainly due to the global economic crisis. But the fall is not cause for undue concern as it follows a 90 per cent spike in rents in 2008. However, analysts said there's room for rents to fall further in 2010. Singapore's office rentals have suffered amid the global downturn as many companies with offices...
General
Greenlodge Condominium on Toh Tuck Road has been put up for collective sale. The owners are asking for S$135 million for the site, which works out to S$683 per square foot per plot ratio (psfppr) inclusive of development charge. The freehold land of about 14,000 square feet currently comprises 80 units. Its marketing agent, Newman & Goh, believes the site can be potentially redeveloped to 211 units...
The government has announced that its industrial land sales programme for the first half of 2010 will have 10 sites including two on the confirmed list. Sites on the confirmed list will be put up for tender regardless of developers' interest. The two on the confirmed list includes a site at Tampines Industrial Avenue 4 which was previously on the reserve list and a new site at Ubi Road 1. The two...
Far East Organization said it has seen strong demand for its latest project, The Shore Residences, since private previews started two weeks ago. The 408-unit residential development is located in the Katong area. Far East said over 70 units have been sold and prospective buyers have also registered their interest for units, which will be released at the official launch on January 21. Among them, the...
Mainboard-listed property investment firm Japan Land said Wednesday it has appointed Leow Tet Sin as managing director and member of the nominating committee of the company with effect from December 23. The appointment resolves a conflict of interest issue that has plagued the company since last month when Japan Land's independent director, lawyer and Tampines Member of Parliament Sin Boon Ann, resigned...
It has been a roller coaster ride for the Singapore property market this year, dipping in the first quarter before registering a sharp rebound. Market watchers have said housing prices will continue to rise next year, spurred by a recovering economy and the opening of the integrated resorts (IRs). The robust turnaround in the property sector was something no one would have predicted. Singapore entered...
One condominium in the east has officially thrown in the towel for an enbloc sale - at least for now. The 1080-unit Mandarin Gardens saw the disbanding of its two-year-old collective sales committee last week. In a letter to residents, the main reasons cited were unfavourable market conditions and the moving in of new residents, whose views the committee felt should be heard. The sales committee had...
Singapore-listed developer Yuexiu Property said on Tuesday that one of its units has acquired a plot of land in China for 544 million yuan or about S$112 million. It said its 95 per cent-owned subsidiary acquired the land in Guangdong's Zhongshan City last week through a public land auction. The plot of land has a permissible gross floor area of about 418,000 square metres and a site area of some 167,000...
Home-buyers, who have applied for the Build-to-Order (BTO) flats at the popular Dawson estate in Queenstown, are seeing stiff competition. Applications ended on Monday and the 1718 premium flats are six-times oversubscribed. SkyVille@Dawson and Skyterrace@Dawson are public flats with premium finishes and designs. The projects comprise studio apartments as well as three-, four- and five-room flats. 9,865...
Property deals in the Singapore market just got bigger in the final quarter of this year, according to global property adviser DTZ Research. The value of property transactions in the fourth quarter are larger compared to the trend of small deals in the first three quarters of 2009. Eight transactions above S$100 million each accounted for 77 per cent of total transaction value in the fourth quarter,...