Some homeowners at the Pine Grove estate along Ulu Pandan Road are making another attempt to sell their properties in a collective sale. This will be their third bid since 2005. MediaCorp understands that the minimum reserve price for the 660-unit unit estate is S$1.33 billion. Depending on the size of the unit and the development charge that is payable, owners stand to pocket an average of S$2 million...
General
Located in the vibrant Katong vicinity and close to well-known eateries like Katong Laksa, The Shore Residences offers a beachfront lifestyle in tranquility, an oasis away from the city. Comprising 1-4 bedroom units spread over 6 towers, residents will enjoy close proximity to East Coast Park as well as a host of amenities situated in the neighbourhood. The Shore Residences is also a short 10 minutes...
Sales of private homes have dipped to their second lowest level this year in October according to data released by the Urban Redevelopment Authority (URA) this week. While market observers believe that this downward trend was the result of the recent anti-speculative measures introduced by the Government, some analysts are sceptical that the market has started to cool. According to statistics, sales of...
The manager of MacarthurCook Industrial REIT said its recapitalisation plan is the only proposal which meets the REIT's substantial and immediate funding requirements. It said this is reinforced by Cambridge Industrial Trust's (CIT's) disclosure on Friday that it has no viable proposal or solution for MI-REIT and its unitholders. CIT said on Friday that the Monetary Authority of Singapore would not allow...
Concerns over the property market will be one of the main topics to be discussed in Parliament next week. MP for Aljunied GRC Cynthia Phua will be asking the Minister for National Development about the projected supply and demand of HDB flats over the next five years while MP for Marine Parade GRC, Dr Muhammad Faishal wants to know about the waiting time for new couples applying for HDB flats. MPs are...
The Holland-Bukit Panjang Town Council said upgrading works will continue despite huge investment losses reported in 2008. Over 90 per cent of blocks in the Holland and Bukit Panjang districts have commenced lift upgrading programmes. The latest financial report showed the town council achieved an accumulated surplus of S$1.81 million. "Our town council is very prudent in terms of our investment...
The Serangoon Avenue 3 area came into focus last month when Hong Leong Holdings won a land parcel there in a government tender with a bid of $221 million, which works out to $529 psf per plot ratio. Property consultants expect the breakeven price for the future condominium project to be between $900 and $950 psf. Hong Leong says it intends to develop the site into a 400- unit condo, which is targeted for...
Starhill Global REIT is set to acquire David Jones Building, a retail property located in central Perth, Australia for A$114.5 million ($148 million) from Centro, a real-estate company based in Australia, via a special purpose unit trust structure established in Australia. In addition, Starhill Global REIT says it has entered into an agreement with the trustee of Starhill REIT of Malaysia to indirectly...
The Inland Revenue Authority of Singapore (IRAS) will raise the Annual Values (AVs) of HDB flats with effect from 1 January 2010. To help HDB homeowners adjust to the AV increase, the government will grant a one-off property tax rebate to all HDB owner-occupiers for the property tax payable in 2010. There are two existing property tax rebates; the $100 rebate and the 40% rebate that were provided as part...
Visitors are one step closer to visiting Southeast Asia’s first and only Universal Studios theme park opening on Sentosa's Resorts World, now that ticket prices have been revealed. Sale of tickets shouldn't be too far on the horizon with Resorts World Sentosa announcing on Wednesday its one-day, two-day and express pass ticket prices that range from S$32 to S$118 to access all attractions. “We have...