Analysts: Headwinds aside, it offers alternatives for older buildings and could support rentals CITY Developments Limited (CDL) and Hong Leong Holdings are among the property players that could benefit from the government's push to inject greater vibrancy into the central business district (CBD). The CBD Incentive Scheme, which offers a higher gross plot ratio to pave the way for older CBD office...
Office / Retail Space
National Development Minister Lawrence Wong says Draft Master Plan 2019 will help in the long-term rejuvenation of the City Centre State planners unveiled a scheme on Wednesday to try to make "work- live-and-play" more of a norm throughout the currently office-dominated Central Business District (CBD), which is likely to get developers crunching their numbers for possible redevelopment. Minister for...
Eighteen medical suites in SBF Center in the central business district are up for sale or lease, sole marketing agent Knight Frank said on Wednesday. The units range from 678 sq ft to 2,842 sq ft. They are among the 48 medical suites, spread over the third to fifth floors, within the 33-storey mixed development. Knight Frank said the medical suites are well-located to serve a population of about 450,000...
Sim Lim Square will be put up for collective sale, after securing the requisite agreement of at least 80 per cent of its owners. The mall, located on Rochor Canal Road, will go on sale at S$1.3 billion, its sales committee head Vikas Gupta told TODAY on Wednesday (March 20) evening. He disclosed that 80.82 per cent of owners by share value and 81.43 per cent of owners by strata area voted for the...
Two freehold redevelopment sites located off Lavender Street are up for sale by public tender, with indicative pricing for 2 Cavan Road at S$47.4 million and that for 21 Cavan Road at S$12.6 million, joint marketing agents CBRE and HRL Properties said on Tuesday. 2 Cavan Road has a land area of about 20,100 square feet (sq ft) and houses a part-single-part-three-storey light industrial-cum-warehouse...
Liang Court mall - famous at its peak as a Japanese expat haunt and for the Daimaru department store and supermarket - is expected to be sold to new owners for S$400 million. According to The Business Times, a put-and-call option agreement has been entered into between the owner, an entity linked to PGIM Real Estate, and CapitaLand and City Developments Ltd (CDL). CapitaLand's listed unit Ascott...
CapitaLand Commercial Trust, Singapore's biggest office landlord, is among suitors in talks about a potential acquisition of the Duo office and retail development in the city, people with knowledge of the matter said. The real estate investment trust has been negotiating the purchase of a 39-story office building called Duo Tower, along with the connected Duo Galleria mall, according to the people. The...
US-based property fund manager AEW has sold Rivervale Mall in Sengkang for S$230 million, BT understands. The buyer is SC Capital Partners, a Singapore-based private equity real estate firm chaired by Suchad Chiaranussati, who is married to a niece of property and hotel tycoon Kwek Leng Beng. The price works out to S$2,833 per square foot based on Rivervale Mall's net lettable area (NLA) of 81,193 sq...
A standalone building at 139 Cecil Street is up for sale again via an expression of interest exercise after an extensive revamp, said real estate firms CBRE and JLL in a statement on Tuesday. An 18-month additions and alterations exercise by the building's owner has increased the number of floors from 11 to 16, with a restaurant on the ground floor and a pool on the roof terrace. The building is...
WeWork is augmenting its presence in Singapore with its new location at 380 Jalan Besar, the US-based co-working space provider announced in a press statement on Tuesday. The new space, which opened its doors on March 1, is housed in ARC 380, a mixed-purpose commercial development, and marks the firm's first location with additional amenities such as a sky terrace with a swimming pool, a gym and an open...