The tender for the Laguna Park en bloc sale has closed unsuccessfully. Credo Real Estate said there were two bids for the 528-unit development at Marina Parade at the close of the tender on Tuesday. A local company whose shareholders are based in Indonesia had offered a price of S$1.7 billion, well above the owners' Reserve Price of S$1.2 billion. But Credo said by Thursday evening, the firm decided to...
General
Mainboard-listed developer Guocoland on Friday reported a net profit of S$12.3 million for the first quarter. This is a turnaround from the S$2.8 million net loss a year ago, which was partly due to foreign exchange losses. Revenue for the three months ended September fell 37 per cent to S$95.7 million, largely due to lower contribution from property development projects. During the quarter, Guocoland...
Two Built-To-Order (BTO) housing projects were launched on Friday, offering 1,200 flats in Sengkang and Jurong West. On the first day of sale, the Housing and Development Board (HDB) received 501 applications for the units. Located near two LRT stations, it is no wonder flat buyers are drawn to the 495 flats available at Fernvale Palms in Sengkang. An interested buyer said: "By the time the flat is...
The Housing and Development Board (HDB) launched two new Build-To-Order (BTO) projects on Friday. Fernvale Palms in Sengkang and Boon Lay Meadow in Jurong West offer a total of 1,200 standard flats. They comprise 240 units of 2-room, 396 units of 3-room, 512 units of 4-room and 52 units of 5-room flats. These 1,200 new BTO flats form part of the 5,000 new flat supply which National Development Minister...
Located in prestigious District 9, Rhapsody on Mount Elizabeth, a luxurious boutique development with an exclusive 32 freehold units, heralds a new era of metropolitan living. Mere minutes from the vibrant eclectic mix of shopping malls and designer boutiques along the Orchard promenade, Rhapsody on Mount Elizabeth is your answer to cosmopolitan lifestyle in a sanctuary with the city. Design along...
Apartments at Casa Merah changed hands at above $800 psf in the secondary market between Sept 11 and 18. The surge in price was probably because of the successful launch of neighbouring Optima @ Tanah Merah in August. The new development, which will sit next to Casa Merah along Tanah Merah Kechil Avenue, saw apartments sold at above the $800 psf level. As at end-August, all the units at The Optima were...
Property consultancy DTZ has upgraded its outlook for the office property sector. It now expects office rentals to return to positive growth next year as the improving economic outlook feeds through. But it said the outlook for 2009 remains firmly negative. Year to date, office rentals throughout Asia Pacific have fallen by an average of over 10 per cent. DTZ said the latest quarter on quarter growth...
Sales of uncompleted private homes took another dip in September, the second month of decline, after hitting a record high in July where 2,772 units were sold. A total of 1,143 units were sold last month, a 36.6 percent fall from August. Market watchers said this level of activity is more sustainable going forward. 5,719 units were sold in the third quarter alone, more than the whole of last year. But...
The upcoming Marina Bay Sands integrated resort (IR) in Singapore is targeting customers with high spending power. It is promising a waterfront shopping experience, with brands in the upper-middle to high end. "With integrated resorts, you normally get all sorts of different market segments - the MICE, leisure, gaming customers, and they vary from segment to segment. But we aim at attracting...
The first public housing development in the Sino-Singapore Tianjin Eco-city has reached a significant milestone. A groundbreaking ceremony was held on Wednesday. Singapore's Senior Minister of State for National Development Grace Fu officiated at the event. The Eco-city is designed to promote social harmony, create economic vibrancy and environmental sustainability. One of its key performance...