Singapore will have an edge over Macau when the first of its integrated resorts is completed in 2009. This is because the Republic is already an established tourist destination, said gaming experts at the Asian Casinos Executive Summit on Tuesday. Integrated resorts with casinos are not just about gambling. They now include family-friendly attractions, business-focused trade shows, restaurants and...
General
Silversea, the luxurious development located in the East Coast area, has 383 apartments and the living spaces of most large units are designed with sweeping pool or breathtaking sea views. Penthouses are crafted with different designs, offering exclusive living atop every tower to enjoy the most spectacular views. In line with its positioning, Silversea’s façade reflects the image of a metaphorical...
OLLOWING asset sales in China and Malaysia, CapitaLand yesterday said it has sold the Somerset Orchard serviced residence to OG Pte Ltd for $100 million in cash. The real estate group expects to book a gross gain of $43 million from the sale of the 88-unit block, which has acarrying value of $57 million. The property was owned by CapitaLand's serviced apartment subsidiary, the Ascott Group, which will...
SC Global Developments has received a strong response to its private views for its latest high-end residential project, Martin No 38. All 30 units released in the first phase of marketing have been sold at an average price of $2,130 per square foot (psf), above the expected average price of $2,000 psf. "We are naturally very pleased with the response and how well-received the project has been by the...
ECONOMIC growth forecasts may be trimmed, and hiring may falter, but a slowing economy may actually turn out to be a blessing in disguise for Singapore's integrated resorts (IRs). So says Mr Mike Barclay, the new chief executive of Sentosa Leisure Group, which manages the 500-hectare (1,235-acre) island on Singapore's southern tip where the Resorts World at Sentosa integrated resort is being built. "With...
Singapore has recorded robust demand in the office sector for the first six months of this year. According to a mid-year review by Colliers International, the Singapore office sector has seen high rents and low vacancy rates, with office occupancy costs the third highest in the Asia-Pacific region. On average, annual Grade A office rents in Singapore fetched US$125.06 per square foot - behind Hong Kong...
The Ascott group, wholly-owned by CapitaLand, has sold the 88-unit Somerset Orchard serviced residence for S$100 million. The sale to OG Private Limited translates to some S$1,530 per square foot. With a carrying value of S$57 million, CapitaLand is expected to recognise a gross gain of about S$43 million from the deal. After the sale, Ascott will continue to manage the serviced residence for 15 years,...
The turmoil in the Asian markets last week is just the beginning of worse to come, said economists and analysts, and Singapore is unlikely to be spared in the weeks ahead. There were jitters, even signs of panic, in Asian bourses the end of last week, with the rise in United States jobless claims — the highest in five years — spooking market sentiment. The Straits Times Index (STI) dropped 51.84...
Never mind that 100,000 spectators are expected to descend on the Marina Bay area. Even all-out efforts by the management of shopping centres to tap the crowds have yet to dispel the lingering doubts of retailers that their cash tills will be ringing during Singapore’s inaugural Formula 1 race at the end of the month. Some retail tenants still think that Singapore’s tourism event of the year on Sept...
WELCOME TO CITY LIVING AT ITS MOST SPECTACULAR Rising to a high of 40 storeys along Beach Road, Concourse Skyline is a distinctive urban address that offers discerning home owners exceptional views, uncompromised luxury, and the privilege of being in the heart of Singapore's brand new downtown. Get ready for cosmopolitan living with front row seats - reserved just for you. DESIGNED FOR THE...