Owners of The Arcade in Collyer Quay are making a second stab at a collective sale with an asking price of S$780 million, 10 per cent lower than the S$868 million price tag attempted in 2014. The new asking price translates to an estimated land rate of S$2,833 per square foot per plot ratio, said marketing agent Colliers International in a media release on Wednesday. The Arcade comprises 127 office...
Bridge+, an extension of CapitaLand's business space portfolio, on Wednesday said it will set up a fintech hub that will play host to Singapore's fintech community, with the group's upcoming development at 79 Robinson Road in the Republic's central business district (CBD). Slated to open in the third quarter next year, Bridge+ 79 Robinson Road will "facilitate collaborations through knowledge sharing...
Two freehold ground-floor units with F&B potential located at mixed-use development Alexis in Alexandra Road are up for sale at an indicative price of S$10 million, said marketing agent CBRE on Thursday. This works out to approximately S$3,259 per square foot (sq ft) based on the units' strata area. To be sold on vacant possession basis, the two shop units have a total gross floor area of 3,068 sq...
A prime four-storey conservation shophouse at 21 New Bridge Road has been launched for sale via tender at S$19.5 million, Colliers International said. The seller will bear the additional cost to top up the land tenure to a fresh 99-year lease, and has also committed to undertake addition and alteration (A&A) works to build out the rear extension from the current four storeys to up to six storeys. The...
Prices of office space in Singapore's central region decreased by 3.9 per cent in the third quarter, compared with the 0.9 per cent increase in the previous quarter, according to the latest data from the Urban Redevelopment Authority (URA). URA's rental index of office space in the central region declined by 0.6 per cent in Q3, versus a 1.3 per cent increase in the prior quarter. As at the end of Q3...
Rents of retail space in the central region of Singapore increased by 2.3 per cent in the third quarter, after falling 1.5 per cent in the previous quarter, according to data released by the Urban Redevelopment Authority (URA) on Friday. URA's price index of retail space in the central region was up 1.1 per cent in Q3, versus the 0.4 per cent increase in Q2. As at the end of Q3, there was a total...
Paya Lebar Quarter (PLQ), a mixed-used development by Lendlease, was officially launched on Thursday. The opening ceremony was graced by guest of honour Lawrence Wong, Minister for National Development and Second Minister for Finance, and Bruce Gosper, the Australian High Commissioner to Singapore. "All in all it's a tremendous opportunity for us to reimagine and remake Paya Lebar for the future,...
Imagine you've found the perfect hire, only to learn she turned down the job because her daily commute would just be too long. Or you're looking to expand your premises, but since there's no space left in the same building, you’re forced to consider a pricey relocation. These are familiar pain points for Singapore's corporates, especially amid today's talent shortage and the tight office supply in the...
With the disruption posed by e-commerce, retail malls in Singapore are rapidly evolving beyond mere sales to introduce experiential- and activity-based concepts to entice returning customers, said a new paper by real estate consultancy Edmund Tie. While Singapore's GDP (gross domestic product) and household incomes have steadily recovered since the 2009 global financial crisis, rising at a compounded...
Office-sharing startup WeWork on Thursday (Oct 10) said it will open two new locations in Singapore this year, even as its seeks a US$1 billion lifeline from its biggest-backer Softbank Group to progress a major restructuring. The New York-based startup, which had to abandon an initial public offering last week because of investor concerns about how it was valued and its business model, will open new...
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