Real estate services firm C B Richard Ellis has announced the public tender sale of Pasir Panjang Village. Located at the junction of South Buona Vista Road and Pasir Panjang Road, the freehold Pasir Panjang Village consists of a row of 14 conserved two-and-a-half-storey shophouses that are adjacent to the Village Centre. The 22,000-sq-ft site is zoned for both commercial and residential use. With a gross...
Hotel
The URA has received two bids for the 99-year leasehold hotel site at Sinaran Drive. The top bidder, Glory Realty, offered S$131.1 million or S$501 per square foot per plot ratio. According to property agents CB Richard Ellis, this was close to the highest bid placed by Republic Hotels & Resorts Limited for a hotel site at Mohamed Sultan Road last year. Meanwhile, CBRE Research said that in view of...
The Urban Redevelopment Authority is inviting developers to apply to put the reserve site at Upper Pickering Street up for tender. The 7,000 square metre site at the junction of New Bridge Road and Upper Pickering Street is earmarked for a hotel development. It has a gross plot ratio of 4.2 and can yield a maximum gross floor area of over 29,000 square metres. Part of the 99-year leasehold site can be...
City Developments (CDL) sees strong growth coming from its Millennium & Copthorne group of hotels and resorts in London, New York and Singapore. It said its London operations, in particular, grew by 21 percent in Q3 this year - the strongest regional growth for the Millennium and Copthorne group. CDL, which owns 53 percent of the group, said it would continue to expand its network in Europe for...
China's luxury hotel market is growing - thanks to increasing affluence in the country and an influx of high-end corporate travellers. And one company that is tapping into this market is Raffles Hotels and Resorts. Raffles recently launched its flagship property in China and is already planning for more such hotels. Raffles Hotels and Resorts has just refurbished a historic hotel in Beijing, turning it...
A hotel site at Bencoolen Street has received a top bid of S$73 million. Altogether, the Urban Redevelopment Authority received eight bids for the 3,600 square metre site. The top bid by Lasalle Lao Singapore works out to S$4,860 per square metre per gross floor area. The highest offer is almost double that of the lowest. The bidders include key players in the local hotel industry such as Park Plaza,...
Sentosa looks set to have a new resort hotel with a beach front.According to Sentosa Leisure Group, this is one of the few projects available for the southern island. The group oversees the property investments, management and the strategic development of Sentosa Island. And it says that development on Sentosa is reaching an optimal stage. There will be another hotel along Sentosa's Tanjong...
Republic Hotels and Resorts has put in the highest bid for a hotel land parcel at the corner of Mohamed Sultan Road and Nanson Road.Its bid of $45.8 million works out to S$518 per square foot per plot ratio. The bids ranged from a low of $32 million to a high of $45.8 million. Republic Hotels and Resorts is linked to property developer City Developments. CDL says in a statement that Republic Hotels...