Frasers Centrepoint Trust has put in the top bid of nearly S$88 million for a residential site at Woodleigh Close. The price works out to S$270 per square foot per plot ratio. The next highest bid came from Hoi Hup Realty at about S$83 million. The lowest bid of S$74 million was put in by Sim Lian Land. The Urban Redevelopment Authority received six bids in total when the tender closed on Tuesday. The...
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Mapletree Logistics Trust is planning to raise nearly S$607 million through a renounceable rights issue. It is issuing about 831 million rights units at 73 Singapore cents each, representing a 21.4 per cent discount to MapletreeLog's volume weighted average price on June 24. Unit holders will get three rights units for every four units held. The net proceeds will be used to finance or refinance the...
CapitaLand and CITIC Trust, China's largest trust company, have launched the first renminbi-denominated real estate private equity fund in China. The 500 million renminbi fund will invest in business parks in China. It will be jointly managed by CITIC Trust and CapitaLand. CapitaLand has 50 per cent sponsor stake, while local Chinese investors - comprising corporate investors and high net worth...
Construction firm Lian Beng Group has won three new construction and civil engineering contracts worth a total of S$117 million. Two of the deals are for construction projects in the private residential sector. The first contract, worth some S$36 million, is awarded by Sing Holdings for the construction of Bellerive Condominium, a private residential development located at the junction of Keng Chin Road...
The 46,100 sq ft freehold site is situated in a well-established neighbourhood predominantly comprising mixed apartment developments and landed housing. It is in close proximity to the Kovan MRT station on the North-East Line, as well as the amenities of neighbourhood centres and shopping malls like Kovan Centre, Heartland Mall, Upper Serangoon Shopping Centre, and Serangoon Gardens. Numerous schools are...
The National Development Minister, Mah Bow Tan, said the government decided on a more measured approach in its latest land sales programme, taking into account the country’s medium to long-term needs. Speaking on the sidelines of a community event, he said the strategy is to ensure that there’s sufficient land set aside for development in the medium term, while at the same time, not forcing supply...
This is where you can have your dream house come true, a private enclave with luxuries, Riveredge provides a chance for you to enjoy a lifestyle deeply dedicated to balance. In the bustling crowd of the city, Riveredge distinguishes itself with a chic elegance quite unlike others – a modern architecture at an exclusive location – alongside with the meandering river and lush surroundings. Riveredge...
PROPERTY watchers say they do not expect to see any sale of the hotel sites under the Reserve List during the coming quarter, because of the current cautious sentiment in the market. Under the Government Land Sales programme for the second half of the year announced on Thursday, 10 hotel sites were up for sale but only one via the Confirmed List. Hotel room rates have been rising as Singapore receives...
The government will release enough land to build about 7,960 private residential units in the second half of this year. The sites will also produce 400,000 square metres of gross floor area of commercial space and 5,750 hotel rooms. The details were released by the Ministry of National Development (MND) on Thursday when it announced the Government Land Sales (GLS) programme for the second half of...
The financial ratings of Singapore's banks are stable, thanks to a buffer built up during the economic boom last year and conservative management of their balance sheets. According to ratings agency Moody's, the overall impact of the tightening global credit markets has been moderate. However, Moody's has also revealed that there are risks ahead that could undermine the stability for banks in Southeast...