Funan DigitaLife Mall, which closed this July, will undergo three years of redevelopment works, according to CapitaLand Mall Trust Management on Friday (Jul 22). This is to enhance the site's attractiveness as a lifestyle destination in the revitalised Civic and Cultural District in Singapore, according to its press release. Slated to be completed in the fourth quarter of 2019, the new integrated...
Office / Retail Space
Singapore office space prices fell by 1.5 per cent in the second quarter. Rentals of office space also fell by 3.5 per cent in this quarter, compared to the 2.1 per cent dip in the first quarter of the year, URA figures showed. Meanwhile, prices for retail space fell by 3.1 per cent in the second quarter, following a 1.9 per cent dip in the previous quarter. Rentals of retail space also fell by 3.9 per...
Rents across both Grade A CBD office spaces and prime retail spots will likely continue to face pressure in the coming 12 months, says property consultancy Cushman & Wakefield in its Q2 Marketbeat reports. It forecasts declines across the board, except for prime suburban retail which has a stable 12-month outlook. On the retail front, the consultancy noted that there are increased food and beverage...
ALL the retail space of Centrium Square, which will come up on the current Serangoon Plaza site in Little India, is understood to have been sold to a foreign investor for S$135 million. This works out to S$4,967 per square foot based on the freehold strata area of 27,179 sq ft - all on the first two levels. The purchase is being made made by Canali Logistics, a Singapore-incorporated vehicle of...
Nine units of Holland Road Shopping Centre and one unit of 211 Henderson, an industrial building, are up for sale, either collectively at a guide price of just over S$24 million or on a piecemeal basis. All of them are freehold units and are being sold with vacant possession. They are owned by two companies controlled by the Lim family that used to operate Lim's Arts and Living, out of eight of the...
Funan DigitaLife Mall will close its doors on Thursday night after being operational for 31 years to make way for three years of redevelopment works. CapitaLand's senior management will host a "thank you" party for some 400 invited guests comprising tenants, loyal shoppers and mall staff at Funan's Main Atrium to celebrate the mall's milestones over the decades as it prepares to start a new...
OCBC has put up for sale a 12-storey freehold office block at 110 Robinson Road, with an indicative price of S$45 million. The price translates to about S$3,162 per square foot based on the building's net lettable area (NLA) of 14,233 square feet. According to Cushman & Wakefield, which OCBC has appointed sole marketing agent for the sale of the property, the bank does not occupy any space in the...
M+S Pte Ltd, a joint venture between Malaysia's Khazanah Nasional and Singapore's Temasek Holdings, said on Tuesday it has "topped out" (meaning put the top of the building on) Marina One in Singapore's Marina Bay area. Indoor furnishings are not yet completed, however, and the development remains on track for completion in 2017. It added that it has secured strong office leasing pre-commitments of...
AMID strong and stable demand for office space in top Asian cities such as Hong Kong, Beijing, Tokyo and New Delhi, Singapore has, comparatively speaking, fallen well behind its peers, according to data from global property consultancy CBRE. In its biannual Global Prime Office Occupancy Costs survey of 126 markets, CBRE reported that the Asia-Pacific region had seven cities in the top 10 list of office...
Katong Shopping Centre has been put up for collective sale for the third time. The reserve price is set at S$630 million. This translates to a land price of S$2,248 per square foot per plot ratio. The mall, which contains 425 units, sits on a freehold plot of nearly 87,000 square feet. Situated along Mountbatten Road, it houses among others, offices, employment agencies, printing and tailoring...