Commercial property leased out by investors in the Asia-Pacific, or invested stock, increased 14 per cent last year, displaying the region's flourish while markets in Europe and the United States languished, according to the yearly Money into Property report by real estate consultancy DTZ. The Asia-Pacific's invested stock is also forecast to match current global leader Europe's level by rising to US$4.4...
Office / Retail Space
A rare development site at 70 Shenton Way has been put up for sale by tender. The commercial property, which belongs to Roxy-Pacific Holdings, is located in the Central Business District and is about three minutes' walk from Tanjong Pagar MRT Station. The property comprises a four-storey podium and a 17-storey office tower with an existing gross floor area of 19,557 square metres or 210,729 square...
The Asia Pacific real estate market has continued to see positive sentiment and increased activity in the first quarter of this year, according to Jones Lang LaSalle's Asia Pacific Property Digest. It added that rents have increased across most markets. Jones Lang said positive business sentiment and continued corporate hiring underpinned the Asia Pacific office leasing market, as occupancy levels...
Colliers International says it is putting up for sale strata-titled commercial units in the Singapore Shopping Centre at Clemenceau Avenue. A total of 43 units, which are located at the fourth and sixth storeys of the property, will be sold either via en bloc, or separately in parcels based on their tenancy expiration. These units have a combined floor area of 23,046 square feet, with individual unit...
Frasers Centrepoint Malls has officially opened its latest neighbourhood mall at Bedok Town Centre on Tuesday. Bedok Point features over 70 shops, with many F&B tenants located on the first level. Fraser & Neave Chairman Lee Hsien Yang graced the opening of the four-storey Bedok Point - which is the 9th in the companies' mall portfolio. The mall has a total net lettable area of 81,000 square...
CapitaCommercial Trust (CCT) and its parent company CapitaLand plan to jointly develop Market Street Car Park into a office tower. The project cost is estimated to be about S$1.4 billion. In a joint statement, both companies said that based on this figure, the development is considered financially viable. The stabilised yield from the completed development is expected to exceed 6 per cent per...
Commercial real estate is one of the top two assets, along with equities, that wealthy individuals and their investment advisers are targeting for investment this year, according to a study published by property consultancy firm Knight Frank and Citi Private Bank. The study showed that wealthy investors plan to allocate around one-fifth of their investment portfolios to commercial real estate and another...
Singapore has ranked 9th in the list of most expensive office locations globally, up from 15th place six months ago, said property consultants Colliers International in a report issued Wednesday. The Global Office Real Estate Review 2H2010 said that Grade A office rents in the Singapore's central business district (CBD) continued to trend up, with rental growth momentum picking up pace from 6.6 per cent...
Singapore office rentals will likely rise by double-digits this year amid expectations that foreign companies will scale up investments in the city-state given improved economic conditions, according to Keppel Land. "As the office upturn continues to run its course, property consultants are predicting another year of double-digit rental growth, barring unforeseen circumstances," said the property arm of...
The retail leasing market gave mixed signals in Q1 2011, said property consultants CB Richard Ellis (CBRE). It said monthly rents for prime Orchard Road averaged S$30.10 psf per month in the first quarter, reflecting a decrease of 0.5 per cent from a quarter ago. Prime suburban rents remained at S$29.10 psf per month, unchanged from the previous quarter. A few major leasing deals were concluded in the...