Property developer CapitaLand is looking to expand in a big way in the Middle-East. It has set its sights on large scale projects – similar to one that was recently launched by the company. 'Raffles City Bahrain' is a US$800 million property and retail development in Manama, the capital city of Bahrain and it is just a first step for CapitaLand in its expansion plans for the Middle-East. The Bahrain...
Singaporeans may soon be able to visit a horse-riding centre in the Punggol Point area once it is developed. That is just one of the many attractions intended for the rustic coast. Punggol Point is located at the Northern tip of Punggol Town and it has been identified as a site for sea sports and recreational facilities. It will also offer rustic seaside dining. As part of the plans to enliven the...
The Urban Redevelopment Authority is inviting developers to apply to put the reserve site at Upper Pickering Street up for tender. The 7,000 square metre site at the junction of New Bridge Road and Upper Pickering Street is earmarked for a hotel development. It has a gross plot ratio of 4.2 and can yield a maximum gross floor area of over 29,000 square metres. Part of the 99-year leasehold site can be...
City Developments (CDL) sees strong growth coming from its Millennium & Copthorne group of hotels and resorts in London, New York and Singapore. It said its London operations, in particular, grew by 21 percent in Q3 this year - the strongest regional growth for the Millennium and Copthorne group. CDL, which owns 53 percent of the group, said it would continue to expand its network in Europe for...
After a week of frantic buying at mind-boggling prices, demand for the red-hot property Marina Bay Residences has finally cooled down, with agents attributing the trend to unrealistic prices. According to sources, at least two 4-room units in the new downtown condominium were sold in the sub-sale market yesterday at $2,700 psf. The average price achieved in the preview sale last week was $1,850...
BS Capital yesterday opened the showflat for its Lumiere development off Shenton Way. BS Capital chief executive Chin Teck Chuan said yesterday that sales are likely to begin this week, but pricing has not been finalised. Prices at The Sixth Avenue Residences averaged about $1,000 per square foot (psf). Some agents who brought their clients to the showflat at Mistri Road yesterday were overheard...
Lumiere is situated right in between the two exciting hotspots - Marina Bay Sands and Resort World at Sentosa, and is just a stone's throw away from all the important financial institutions and professional centres in CBD. Exciting shopping centres and entertainment hubs are steps away with easy assess to MRT (Tanjong Pagar Station) and bus transportation system. A north-south orientation allows for...
CapitaLand's unit in Australia, AustraLand, is selling a portfolio of 11 industrial facilities for A$150.5 million, or S$175 million. The portfolio consists of six properties in Melbourne, three in Adelaide and two in Brisbane. All the properties are located on airport leasehold land and have all been developed by Australand within the last four years. The properties are fully leased with an average...
Singapore's robust economy created a record 124,500 jobs in the first nine months of the year, surpassing even the employment gains of 113,300 in 2005. The employment creation from January to September this year is the highest ever recorded, says the Ministry of Manpower in its Third-Quarter Labour Market report. The report also says the number of jobs created in the third quarter alone was an all-time...
Singapore's fast-growing REIT sector may yet get another boost from the rise of new overseas players. Property analysts Channel NewsAsia spoke to believe that there will be an influx of cross-border REITs listing in Singapore. That's because Singapore-listed REITs still enjoy attractive yield premiums over their regional competitors. The total market capitalisation of Singapore's real estate investment...