Singapore will see a glut of hotel and office spaces when projects at the Marina Bay Downtown come on stream in the months ahead, but developers say they are not worried. Not only is the Marina Bay Sands Integrated Resort on track for completion, the Double Helix Bridge - which links visitors from the Bayfront to Marina Centre - will also be ready by year-end. Across the waters at the Fullerton heritage...
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Some private property developers are thinking of turning their residential projects into serviced apartments. Ascott Hospitality said it has been approached by some developers recently, but declined to say which were considering such a move. Experts, however, said such conversions are unlikely to gain popularity in Singapore anytime soon as there are many factors against it. Private home sales may have...
Almost all of the 180 units for sale at The Arte at Thomson have been sold since the project's official launch earlier this month. A total of 170 units has already changed hands, with 20 sold over the weekend for some S$30 million. More than 1,000 visitors made their way to the 336-unit, freehold development's showroom last weekend. Developer City Developments sees this as evidence that buyers have...
Evergro Properties saw net profit more than triple to S$389,000 in the first quarter of 2009, compared to S$101,000 a year ago. The increase was largely due to a 21.5 per cent jump in interest earned from bank and other deposits amounting to S$134,000 in the three months ended March 31. Evergro, which is a unit of Keppel Land, said revenue fell by 39.2 per cent on-quarter to S$5.7 million in the first...
APPLICATIONS were only supposed to open tomorrow - but the overwhelming response to the Housing and Development Board's (HDB) latest housing project in Simei under the Design, Build and Sell Scheme (DBSS), prompted developer Sim Lian Group to accept bookings on Saturday. On Friday, over a hundred people began queuing for the flats at Parc Lumiere, after Sim Lian said bookings would be accepted on a...
Inspired by the passionate Italian culture, FIORENZA is a place of attraction in its own right. With an avant-garde architecture zestfully coloured in sunny yellow and crimson red, the 28-unit private development stands out, clearly, as an icon of modern living at Florence Road. Vivacious, sensuous and a little mischievous, this is a home that welcomes you to indulge in bold artistic tastes, unrestrained...
The Housing and Development Board (HDB) has received 178 applications since the Lease Buyback Scheme was launched last month. It is a scheme which helps seniors monetise their flats. With the Lease Buyback Scheme, these seniors will now be able to receive a monthly payout of a few hundred dollars and continue living in their flats for 30 years after they sign up. The scheme helps cash-poor, asset-rich...
Applications were only supposed to open on Tuesday, but the overwhelming response to the Housing and Development Board's (HDB) latest housing project in Simei, under the Design, Build and Sell Scheme (DBSS), prompted developer Sim Lian Group to accept bookings on Saturday. Under DBSS, private developers manage the project from its design to construction and sale, and applications are accepted on a...
The first section of the Punggol waterway is set for completion by 2010, bringing waterfront living closer to residents' doorsteps. Construction of the 4.2-kilometre channel started on Saturday, with a groundbreaking ceremony. Over the next few years, the area – known as Punggol 21+ – will see more leisure and recreational facilities. About 21,000 new public and private residences will also be built...
Ascendas Real Estate Investment Trust (A-REIT) has booked a 12.6 per cent increase in distributable income to nearly S$211 million for the financial year ended March 31. It also reported a net property income of S$296.6 million, up 21.8 per cent on-year. And though it said that 2009 will be a difficult year, it expects to maintain a similar level of income for the current financial year. This is because...