General

National Development Minister Lawrence Wong has turned down an MP's suggestion that the Government buy back HDB flats from owners who cannot sell them because of the Ethnic Integration Policy (EIP). "The EIP is an important policy that is applied to all ethnic groups consistently," Mr Wong said in Parliament yesterday. He was responding to Mr Lim Biow Chuan (Mountbatten) who had proposed helping...

Marketing agent CBRE will relaunch the public tender of Faber Garden, located at 2,4,6,8,10 Angklong Lane, off Upper Thomson Road, on 3 October 2018. The sprawling site, situated next to Singapore’s Central Nature Reserve, enjoys tranquil exclusivity yet is conveniently connected to the city centre via the MRT network, major roads and expressways. The upcoming Bright Hill MRT Station (TE7), slated to...

Home owners made a total of about 1,600 appeals between 2015 to 2017 to waive the ethnic integration policy, said National Development Minister Lawrence Wong in Parliament on Tuesday (Oct 2). Mr Wong was responding to a question from Workers' Party chief Pritam Singh, who asked if there were statistics on how much feedback the Housing and Development Board (HDB) has received from minority races on the...

CapitaLand today initiated its ‘office of the future’ strategy aimed at engendering a culture of innovation, promoting talent attraction and retention and optimising cost efficiency for tenants of its office properties. While coworking spaces currently aim to fulfil these objectives, they are typically standalone spaces targeted at a specific pool of tenants. CapitaLand’s ‘office of the future’...

The owner of freehold residential project Three Buckley in the Newton neighbourhood has put the development up for sale by expression of interest with an asking price of S$41 million. The property at 3 Buckley Road is zoned for residential use and may be built up to a gross plot ratio of 1.4 times its land area of 1,444.64 square metres (15,550 square feet). The asking price represents a land rate of...

12-unit Le Arc Apartment on Lorong 26 Geylang, off Geylang Road in district 14, has launched for a collective sale attempt, announced marketing agent ERA Realty Network. The owners are expecting $20 million to $22 million for the freehold property. The price translates to about $915.59 psf per plot ratio (ppr), or $832.35 psf ppr when taking into account the 10% bonus balcony area and relevant...

Oxley Holding’s Mayfair Gardens condominium project was 40 per cent sold during its launch weekend, said the firm on Monday. Homebuyers snapped up 87 out of 215 units from Sept 29 to Sept 30, for an average price of S$1,900 per square foot. Units sold ranged from one-bedroom to four-bedroom apartments. Three of the six penthouses were also sold. The buyers comprise 85 per cent Singaporeans while...

Three freehold office floors of The Octagon at 105 Cecil Street have been put up for bulk sale via tender, said marketing agent Cushman & Wakefield on Monday. The tender exercise for the 14th, 15th and 17th floors of the 25-storey office building will close on Nov 1, 2018. Total strata area of the three floors is about 18,567 square feet, and each floor has a plate size of about 6,189 sq ft. The...

Transaction volumes of bungalows in Good Class Bungalow (GCB) Areas have held up in the third quarter against the latest property cooling measures which took effect on July 6. Based on an analysis by List Sotheby's International Realty (List SIR) of URA Realis caveats data as of last Friday, there were 11 transactions in GCB Areas, totalling S$220 million in Q3 2018 - up from the eight deals amounting...

About 3,100 households have taken up the Lease Buyback Scheme (LBS) since its introduction in March 2009, said National Development Minister Lawrence Wong in Parliament on Monday (Oct 1). Giving a breakdown, he said this comprises 830 households in four-room flats, 2,030 households in three-room flats, and the remaining 240 households in smaller flats. Mr Wong was responding to Members of...