Singapore's investment property market was quiet in the first quarter of the year, as the global recession continues. The first three months of 2009 saw only 10 investment transactions, compared to 15 in the fourth quarter of last year. All the deals were below S$40 million. Real estate adviser DTZ said all the investment sales in the first quarter took place in the private sector. This is partly due...
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CapitaLand's CEO Liew Mun Leong has raised his stake in its unit, CapitaMall Trust, following the REIT's recent rights issue. Mr Liew almost doubled his interest in CapitaMall, increasing the number of shares held from 333,410 to 633,479. That means he now holds about 0.02 per cent of CapitaMall, up from the previous stake of 0.0105 per cent. Mr Liew is the deputy chairman and a non-executive director...
Location: Holland RoadTenure: FreeholdYear of Completion: 2014Site Area: approx 76,635 sqftTotal Units: 75 (69 apartments & 6 strata villas) Unit Types:2 Bedroom ~ 947 to 1,076 sqft3 Bedroom ~ 1,421 to 1,464 sqft4 Bedroom Maisonatte ~ 1,679 to 1,765 sqft3 Bedroom Penthouse ~ 1,711 to 1,733 sqft4 Bedroom Penthouse ~ 2,239 to 2,260 sqft5 Bedroom Strata Villas ~ 3,552 to 3,918 sqft Facilities: *...
First Real Estate Investment Trust, or First REIT, has secured a three-year loan facility from OCBC Bank worth S$70 million. OCBC will also provide a notional amount of S$50 million as part of an Interest Rate Derivative Facility for interest hedging on this loan. This will then limit First REIT's exposure to possible upward fluctuations in interest rates. The trust said some of the money will be used...
Tampines 1, Singapore's newest shopping mall, will open on April 9 with full tenancy confirmed. The S$450 million mall will join two others, Tampines Mall and Century Square in that area. Located beside the Tampines MRT station, the six-storey mall will have 172 tenants. More than 75 per cent of its tenants will open this Thursday. These include IT shop Challenger, Japanese clothing giant Uniqlo, and...
Although private residential property prices saw one of the worst declines in the first quarter of this year, analysts noted that the mass market segment is still well supported by HDB upgraders. This can be seen by the sales of units at Mi Casa, the first private condominium in Choa Chu Kang Town Centre in eight years. It has been one week since the developer pre-launched 200 units, and 65 per cent of...
The Real Estate Developers' Association of Singapore (REDAS) is celebrating its 50th anniversary this year with a series of activities. One of the activities was a dragon boat championship cup-cum-charity held at Bedok Reservoir on Saturday morning. Gracing the event was Foreign Minister George Yeo, who cheered on the 16 teams - comprising government agencies like the Housing & Development Board and...
A group of homeowners has finally won the fight to keep their condominiums, ending a two-year legal saga. In an unprecedented move, the Court of Appeal has ruled in favour of owners who objected to the S$500 million en bloc sale of Horizon Towers. The Leonie Road condominium was to have been sold in 2007 to Hotel Properties and its partners. Had the en bloc sale gone through, owners of its 199 units...
The Urban Redevelopment Authority (URA) is putting up a 0.12 hectare hotel site at Short Street for tender. This, after it received an application from a developer to bid for the land parcel, which is located within the Bras Basah-Bugis district. URA says the site can generate a maximum gross floor area of 4,077 square metres and is ideal for boutique hotel development. It adds that the bid received...
Singapore’s residential property market is likely to bottom only at some point of time in 2010, says a new report from Bank of America Merrill Lynch. The US investment bank noted that although local residential prices have already fallen 21% from the peak in mid-2008, they are likely to fall at least another 30% this year and a further 10% early next year before they stabilise. Indeed, Merrill...