Analysts point to bad timing for developer in 3 en bloc attempts ONE construction and property development firm, troubled by the cooling property market and credit crisis, has left three en bloc sellers’ hopes of a cash windfall in shambles - and some analysts wondering if it is a victim of circumstances, or a player that bit off more than it could chew. Since April 1, Bravo Building Construction has...
Property investment sales rose nearly 3 percent to S$8.36 billion in the first quarter compared to the previous three months. But this was still 36.6 percent below the peak of S$13.2 billion worth of sales amassed in the third quarter last year. This is according to latest figures from property consultants Colliers International. Colliers said with the exception of the commercial and industrial sectors,...
A day after the Royalville site off Sixth Avenue was relaunched at a much lower price, another en bloc site has been put back on the market at a significant discount from the heady prices its sellers were asking for less than six months ago. The Amber Glades site on the East Coast is being relaunched today at an indicative price of $127 million, more than 12 per cent lower than the asking price of $145...
Colliers International will be relaunching the collective sale of Amber Glades, a freehold residential site at Amber Road. The site has a gross plot ratio of 2.8 and consists of two 10-storey tower blocks with 63 units in total. About 90 percent of the owners have agreed to the sale and are asking for about S$127 million. Including the estimated development charge of S$3.5 million, the price will work...
Property leasing firm EM Services has put in the top bid of S$180,810 for nine blocks of HDB flats at Commonwealth Drive for interim housing. Its bid was 30 percent more than the next highest offer of S$138,888 from Hean Nerng Holdings. The tender by the Housing and Development Board attracted a total of 13 bids. The lowest came in at S$37,800 from a consortium led by B19 Technologies. Under the tender...
Construction of Singapore’s first Hard Rock Hotel which will be located at the upcoming Resorts World at Sentosa will begin in May. The 360-room hotel is one of six to be developed and fans and visitors will be grooving to it when the famous chain opens in 2010. Together, the hotels will provide 1,800 rooms but this might still not be enough. Elena Arabadjieva, Deputy Vice-President, Resort Marketing,...
LIM Chu Kang looks all set for a change if the Singapore Land Authority’s plans work out for its first “agri-tainment” resort. Developers of the farm resort hope to offer visitors a more unconventional experience when it opens its doors this August. Visitors will be able to find out how crops such as corn and coffee are grown and may even get to harvest their own vegetables. In addition, the...
Lim Chu Kang looks all set for a change if the Singapore Land Authority’s plans for the first agri-tainment resort work out. Developers of the agri-tainment farm resort hope to offer visitors a more unconventional experience when it opens its doors in August 2008. Visitors will be able to find out how crops like corn and coffee are grown and may even get the chance to harvest their own vegetables. In...
En bloc sales have been slowing down over the past few months, but it’s not just due to the recent tightening of the rules governing such transactions. Amid the global credit crunch, property watchers said foreign investments have pulled back, and the overall downturn is pushing developers to look at other moneymaking options. But they also noted that fundamentals remain strong in Singapore, and the...
HDB is studying refinements to weed out non-serious applicants I refer to the letters from Samuel Lee, “Oh, that elusive HDB flat” (March 28), and from Kalista Nisha, “Different families, different needs” (March 31). We would like to clarify that the $10 fee payable for HDB sales exercises is to cover part of the Housing and Development Board’s (HDB) administrative cost in processing the...