Singapore's Banyan Tree Hotels and Resorts will manage a new resort in Bali, Indonesia. The Banyan Tree Ungasan Resort has just been launched by Indonesian developer, PT Surya Semesta Internusa Group.Perched upon a 70-metre cliff, the high-end 10-hectare US$30 million resort comprises 73 villas which are being offered for sale to prospective investors. 250 socialite guests, plucked from The Link Group's...
The Urban Redevelopment Authority has launched an industrial site in Tuas for sale by public tender. This after a developer committed to bid at least S$5.1m for the site at Tuas Bay Drive and Tuas South Avenue 3.The 60 year leasehold land parcel has a site area of about 3.7 hectares. It has a maximum permissible gross plot ratio of one but the successful bidder will be able to put up a building of up to...
The Ascott Group has secured its second and third properties in Chennai and Bangalore in India. The acquisitions are part of the master development agreement signed with The Rattha Group in August.Under the agreement, the partners will acquire and develop seven serviced residences in India by 2010. Ascott will take a 40 percent equity stake in the two new properties with the remaining majority stake...
Singapore's total population at the end of June this year stood at 4,483,900. This was an increase of 3.3 percent from the previous year.Of this, 3.6 million were Singapore residents – made up of citizens and permanent residents – and 0.88 million were non-residents. Releasing its latest report on Population Trends in Singapore, the Department of Statistics said figures also showed that non-resident...
China's luxury hotel market is growing - thanks to increasing affluence in the country and an influx of high-end corporate travellers. And one company that is tapping into this market is Raffles Hotels and Resorts. Raffles recently launched its flagship property in China and is already planning for more such hotels. Raffles Hotels and Resorts has just refurbished a historic hotel in Beijing, turning it...
Singapore's tourism sector reached a milestone early Wednesday morning, when its 9 millionth visitor landed at Changi Airport's Terminal 2. The Singapore Tourism Board says the record-setting figure is testament to a strong growth momentum that might also see total tourist receipts break the S$12 billion mark. With colourful drums, costumed dancers and a rain of petals, it was an unusual morning call for...
Despite sell-out property launches — such as The Grand Duchess at St Patrick's and The Ford @ Holland — Minister for National Development Mah Bow Tan says the property market is not nearing a bubble. Mr Mah told reporters on Thursday: "Looking at the overall situation, I know that there are launches which have not done well. If taken in totality, you will realise that the situation is nowhere near...
A hotel site at Bencoolen Street has received a top bid of S$73 million. Altogether, the Urban Redevelopment Authority received eight bids for the 3,600 square metre site. The top bid by Lasalle Lao Singapore works out to S$4,860 per square metre per gross floor area. The highest offer is almost double that of the lowest. The bidders include key players in the local hotel industry such as Park Plaza,...
The committee which oversees the development of the Southern Islands have consulted about 20 foreign and local investors over one year. These investors, mainly in the resort business, have given mostly positive feedback. This is revealed after the Singapore Tourism Board announced recently that it wants to develop a cluster of Southern Islands. The cluster of Southern Islands includes St John's, Kusu...
Residents living in Jurong, Woodlands and Sembawang may get mega stores like the ones in Tampines.National Development Minister Mah Bow Tan says a few parties have expressed interest in developing similar projects under the Warehouse Retail Scheme. They are in talks with the authorities. The just-opened $125m Ikea mega store in Tampines is one of three giant stores in the warehouse cluster. Under the...