Mainboard-listed property and industrial services firm Tuan Sing said on Monday that it has sold Katong Mall for S$247.55 million. Its wholly-owned subsidiary, Golden Cape Investments, sold the property to an unrelated third party, Perennial Katong Retail Trust. Golden Cape secured 100 per cent ownership of Katong Mall through a successful bidding of S$219 million in an en bloc sale in June last...
General
Some were in financial hardship, and an increasing number were Singaporeans working overseas or who simply saw their flats as investments. They made up the growing number of households that are sub-letting their entire flats – a figure that jumped 21 per cent in the course of the last financial year. Between April last year and March this year, the Housing and Development Board (HDB) approved 22,754...
The Housing and Development Board (HDB) said on Monday it has put up for tender a residential site at Westwood Avenue. The site was placed on the reserve list and the sale process was triggered after a developer committed to submitting a minimum bid of S$15 million. The land parcel has a site area of 14,098.8 square metres and is proposed for landed housing development. Located within Jurong West town,...
Singapore's economic growth for next year could be as high as six per cent, say some industry experts. They say the three per cent outlook given by Minister Mentor Lee Kuan Yew on Sunday may be on the cautious side, but it is still news they welcome as this means better times are ahead - more so in industries such as the finance sector. "There will be a pay revision. Estimates in general range from about...
Singapore Minister Mentor Lee Kuan Yew on Sunday said the country's economy may grow by three per cent next year, and added that this year's fourth quarter looks healthy after Singapore's economy bounced back in the second and third quarters. Speaking at the annual tree planting ceremony at his constituency of Tanjong Pagar, Mr Lee said Singapore has emerged out of the recession with minimum damage. He...
Four blocks of flats at Bukit Merah View - blocks 110, 111, 113 and 114 - will undergo the Selective EnBloc Redevelopment Programme (SERS). Member of Parliament (MP) for Tanjong Pagar GRC and Deputy Speaker of Parliament Indranee Rajah made the announcement at the division's tree planting day activities, attended by Minister Mentor Lee Kuan Yew and the MPs of the GRC. Ms Indranee noted that the residents...
Jurong West now has an integrated learning, social and recreational hub. The Frontier Community Place officially opened on Sunday, with Minister for Trade and Industry and Member of Parliament (MP) for West Coast GRC, Lim Hng Kiang, as the guest of honour. The hub houses the Frontier Community Club, Jurong West Public Library and Jurong Medical Centre. Host MP and Adviser to Pioneer Grassroots...
WITH the recent release of third-quarter real estate data, it may be timely to ask: Is there a real estate bubble, and if so, how bad is it? When the figures were unveiled in the last week of October, private-housing prices were out-of-sync with the rest of the market. Prices and rents were down for the other major sectors - office, retail and industrial. These trends were in line with current economic...
The Singapore government is boosting the supply of private residential sites in the first half of next year. It has announced new sites for sale, which could yield over 10,500 homes – the highest number of units since the Government Land Sales (GLS) Programme started in the second half of 2001. The Urban Redevelopment Authority (URA) said on Friday that in deciding supply, it looks at market conditions...
Market-watchers expect keen competition for the eight residential sites on the confirmed list under the Government Land Sales (GLS) Programme for the first half of next year. But land prices may not necessarily come down. Analysts also expect more foreign developers to bid for sites over the next three to six months, keeping prices competitive especially for popular locations. Donald Han, managing...