The Housing and Development Board has awarded the tender for a public housing site under Design, Build and Sell Scheme (DBSS) to Ho Hup Realty Pte Ltd, Sunway Developments Pte Ltd and Hoi Hup JV Development Pte Ltd. Their successful joint bid was S$198,822,000 for the site at Lorong 1A Toa Payoh. The plot has an area of 27,479.9 square metres and an allowable gross floor area of 115,415.58 square...
General
The Housing and Development Board (HDB) will complete its review of the Public Rental Scheme as early as year end, says National Development Minister Mah Bow Tan. The HDB will tighten eligibility criteria for rental flats and help moderate demand. But from now, applicants with more urgent needs will be able to bypass the long queue to get their flats. The HDB is also increasing the number of rental flats...
GuocoLand has suffered a 43 per cent drop in its net profit to S$161.8 million for the financial year ended June. The group attributed the sharp contraction largely to lower property sales in Singapore. Lower revaluation gain on investment properties and higher income tax expenses incurred from its projects in China were also blamed for the fall. Revenue for the period slid 4 per cent to S$670.9...
CapitaLand is going to inject four of its Raffles City-branded integrated developments into its Raffles City China fund. The US$1 billion real estate private equity fund will acquire CapitaLand's 55.9 per cent stake in Raffles City Shanghai. It will also take over 100 per cent of Raffles City Beijing, Raffles City Chengdu and Raffles City Hangzhou. CapitaLand is expected to receive a total consideration...
There is a need to manage demand for land and its increase in value across the island One of the highlights of Singapore’s Draft Master Plan 2008 is to bring jobs closer to home. Economists point out that it makes financial sense for firms to locate in suburban areas. What then are the limiting factors that prevent complete decentralisation? Agglomeration benefits, such as accessibility to clients and...
Maintaining target price of $3000 psf, project may only launch in 2012 IF THE market for luxury homes fails to pick up, the launch of Marina Bay Suites may be held off until 2012 when the project is completed, Mr Wilson Kwong, the general manager of Raffles Quay Asset Management said in an interview with Lianhe Zaobao yesterday. Marina Bay Suites was scheduled for launch during Chinese New Year this...
The Urban Redevelopment Authority (URA) has launched a transitional office site at Mohamed Sultan Road for sale by public tender. The site is one of three commercial parcels to be sold through the confirmed list under the Government Land Sales Programme for the second half of this year. It has a land area of nearly 0.62 hectare and a maximum permissible gross floor area of about 9,200 square metres. A...
Property Description : The freehold development will hold 70 units of 2- and 3- bedrooms and penthouse units within a 28-storey bloc. Location : The property is sited at 20 Irrawaddy Road. A neighbourhood of conveniences, this is where everything is truly a stone's throw away. Access to the most popular restaurants, eateries or the nearest Novena MRT is just a walk away. The expressways are...
Prime Minister Lee Hsien Loong said in his National Day Rally speech on Sunday that Singapore's economic growth will be slow next year as it feels the impact of a weakening world economy. However, the country is not expected to slip into a crisis. "This year, I think we can get 4 to 5 percent growth. It's not bad. Next year, we expect slow growth and more uncertainties. I'm not predicting a crisis. We're...
A medical complex - comprising a hospital, specialist suites and a hotel - will be built in Singapore by October 2010. Its aim is to grab a chunk of the burgeoning multi-billion dollar market for medical travel in Asia. The 19-storey Farrer Park Mediplex will comprise a hospital, specialist suites and a hotel. It is believed the first of its kind in Asia, and the company behind it expects to be a strong...