Industry watchers said the boutique hotel sector in Singapore is under-penetrated. They said there's room for at least another 10 new ones to spice up the local hospitality scene and to attract more niche travellers looking for something different. Take a shower right in the middle of the room just a few feet from your bed is what you get to do for about S$385 per night in a basic executive room at...
General
Ascendas Reit said Tuesday it is launching a private placement of new units to raise S$301.6 million in total proceeds. It is placing out 185 million new units at an issue price of between S$1.63 and S$1.70 per unit. At those prices, the new units represent a discount of between 3.4 per cent and 7.4 per cent from the Reit's last closing price of S$1.76. Ascendas Reit said most of the net proceeds or...
Mainboard-listed K-Reit Asia said on Tuesday the CEO of its management firm is stepping down. 49-year-old Tan See Yiow will be resigning on August 17, and will be replaced by Ng Hsueh Ling. Prior to this appointment, Ms Ng has held key positions with other real estate companies. Most recently, she was the CEO of Ascendas Korea and Japan from 2007 to 2009. K-Reit Asia said Mr Tan will remain as an...
Residents in Bukit Panjang will soon have lift landings on every floor. Work has already been completed on 124 Housing and Development Board (HDB) blocks under the lift upgrading programme. And upgrading of the remaining eight eligible blocks will be finished in a few months’ time. The S$80 million lift upgrading programme is part of wider measures to develop the town's infrastructure. Ramps and...
With the opening of the $6 billion Resorts World at Sentosa fast approaching, there is a buzz of excitement as investors anticipate the influx of visitors expected in 1Q2010. To cater for a surge in tourists and locals to the island, a 620m $70 million walkway is being constructed and is expected to be completed in November 2010. As development at the upcoming casino gain traction, interest in properties...
The Urban Redevelopment Authority (URA) of Singapore has begun work on preparing the next Concept Plan. National Development Minister Mah Bow Tan announced at his ministry's National Day Observance Ceremony on Friday. Concept Plan 2011 will be a major review of Singapore's long-term land use plans and strategies to cater to the changing needs of a growing economy and population. Mr Mah said: "This is a...
The Urban Redevelopment Authority (URA) is launching a 2.1-hectare parcel of land at Yio Chu Kang/Seletar roads for public tender in about two weeks. The URA says this follows a commitment from a developer to bid at least S$40.5 million for the site. The land parcel is located within the residential area at Seletar Hills and near the future Seletar Aerospace Park. It will be available for development...
Singapore Exchange's Mainboard-listed Fragrance Group said one of its subsidiaries plans to buy a property at Changi Road for S$33.5 million. The freehold property has a land area of 28,500 square feet. It can yield a maximum permissible gross floor area of around 60,000 square feet. Fragrance said it plans to develop the land into a five-storey mixed development comprising commercial space and...
Conglomerate Fraser & Neave said its third quarter net earnings rose 11.7 per cent to S$123.2 million from a year earlier. Revenue for the three months ended June rose 12.3 per cent to S$1.3 billion. F&N said it saw broad-based solid expansion across key businesses. In particular, its Food & Beverage business maintained its strong growth momentum during the quarter, while properties benefited...
The government has launched a residential site at Dakota Crescent for public tender. This comes after a developer said it would bid at least S$130 million for the site two weeks ago. The land parcel, which was made available for sale through the Reserve List System, has a site area of 1.7 hectares. The 99-year site, which is located near Old Airport Road, can generate a maximum permissible gross floor...