Prices for the high-end luxury residential sector continued to climb to new highs. According to developer CapitaLand, several units of its Orchard Residences development at Orchard Turn had been sold at more than S$4,000 per square foot. The 56-storey development is being built by CapitaLand and Hong Kong's Sun Hung Kai Properties. Units above the 32nd floor attained prices of more than S$3,200 per...
There are signs that the increase in private home prices is filtering down to the mass market, according to the latest report by property consultancy Jones Lang LaSalle. It said resale home prices climbed 9.5% in the first quarter from the previous three months, making it the fastest pace of growth in seven years. According to Jones Lang LaSalle, prices of homes in the secondary mass market saw a...
Singapore as a garden city, a water city and a place where the East meets West. These are three areas which a leading academic believes will give the Singapore national brand global recognition. Professor Kishore Mahbubani, Dean of the Lee Kuan Yew School of Public Policy made these points at a lecture organised by the Singapore Chinese Chamber of Commerce and Industry (SCCCI) on Wednesday. Singapore...
Singapore has topped a list of 11 global cities as the place most conducive for doing business. This was according to a recent study by PricewaterhouseCoopers and the Partnership for New York City. Out of a total of nine indicators used for assessment, Singapore scored well in three of them which were demographic advantages, safety and security, and ease of doing business. The other six indicators were...
Up to S$400 million will be spent to transform two of Singapore's oldest buildings – the former Supreme Court and City Hall – into the National Art Gallery. And when the Gallery is ready in five years, it will potentially have a collection of 8,000 art pieces from Singapore and Southeast Asia – some of which have never been shown to the public. The halls that have housed many historical events and...
Plans are in the pipeline to make all new buildings in Singapore environmentally friendly. While this may mean higher development costs, Minister of State for National Development Grace Fu said long-term cost savings would be greater than the upfront costs. The government is considering making changes to the Building Control Act to mandate new buildings to be environmentally friendly. Such 'green...
The tender process for two new office sites kicked into gear on Tuesday. Together, the sites at Anson Road and Tampines will add about 70,000 square metres worth of office space to the market. Both sites are on a 99-year lease. The CBD site is on the reserve list of the Government Land Sales programme while the Tampines site, which is within walking distance from the Tampines MRT station, is on the...
Successful en bloc sales are now more spread out geographically over Singapore instead of being concentrated in the prime districts. According to property consultant Knight Frank, the first three months of the year saw 18 collective sales being sealed. Out of these, at least seven were in areas not traditionally known as hot beds for en bloc sales. They include Hong Leong Garden in the west, Flamingo...
Sim Lian Group has won a contract worth S$85.3 million from Jack Investment. This is for the construction of a 10-storey entertainment complex at Victoria Street. The complex, to be completed by next year, is on the Urban Entertainment Centre site tendered out by the Urban Redevelopment Authority last year. Jack Investment had won the tender after submitting a bid of S$46 million for the site on a...
Collective sales for this year are set to hit new record levels, say experts. In a sign that this year’s collective sales could be even better than last year’s bonanza, the number and value of collective sales so far this year have not only exceeded what was achieved in the same period last year but also beaten the record $2.41 billion set in 1999. Based on preliminary data as of mid-March, there...