CONSTRUCTION and property group Lian Beng has clinched its biggest-ever construction contract - of about S$435 million. In a news release on Monday evening, the group said its wholly owned subsidiary, Lian Beng Construction (1988), was awarded the contract by the Housing & Development Board (HDB) to build a high-rise multi-user industrial complex along Kim Chuan Road in the Defu South area. With this...

THE Housing & Development Board (HDB) on Monday launched a mixed commercial and residential site at Upper Serangoon Road for sale by public tender under the government land sales (GLS) Programme. As part of the development of Bidadari Estate, the site was previously scheduled for sale in December 2016 but was deferred to allow the site requirements to be finalised for comprehensive development. At...

Grandeur Park Residences saw 420 units (58%) out of a total of 720 units sold on its launch weekend on March 4-5. Units were priced at an average of $1,350 psf. The 99-year leasehold condo by CEL Development, the property development arm of listed construction group Chip Eng Seng Corp, is located adjacent to the Tanah Merah MRT station and at the corner of New Upper Changi Road and Bedok South Avenue 3....

Far East Organization is buying a Good Class Bungalow (GCB) on a freehold site of over 39,000 square feet at 16 King Albert Park. The plan is to amalgamate the site with four adjoining plots the group already owns before redeveloping the enlarged site of over 100,000 sq ft into several bungalows which the group will hold as an investment property for rental income. Far East is paying S$43.8 million...

Mapletree Industrial Trust (MIT) has secured a new build-to-suit (BTS) data centre in the west region of Singapore for an established data centre operator for some S$60 million. The six-storey purpose-built data centre with gross floor area of about 242,000 square feet will be fully leased to the client for an initial lease term of more than 10 years with staggered rental escalations and renewal...

In response to demand for more flexible use of industrial space, the Urban Redevelopment Authority (URA) and JTC will be piloting new land use guidelines at a multi-tenanted building to be developed by JTC and located within Woodlands North Coast on a site zoned Business 1-White. The Woodlands pilot development will support manufacturing companies in co-locating their service-driven activities like...

PROPERTY developer Sustained Land's boss, Douglas Ong, is buying a Good Class Bungalow (GCB) along Garlick Avenue in District 10. The S$23.88 million price translates to S$858 per square foot (psf) based on the freehold land area of 27,829 sq ft. Market watchers consider the psf price to be on the low side, even if the transaction is seen as reflecting purely the land value. The existing two-storey...

Hong Kong's office rents are almost three times more expensive than those in Singapore as property markets in two of Asia's largest commercial centers have diverged sharply in recent years. The spread has boosted Singapore's appeal as a competitive business hub and made it a more attractive location for companies to house their regional headquarters, according to Cushman & Wakefield Inc. Scarce...

The land parcels at Jiak Kim Street, Toh Tuck Road and Owen Road are the most outstanding sites available in the first half of government land sales (GLS) this year, according to property consulting firm Edmund Tie & Co. Close contenders include the Woodleigh Lane site and the Fourth Avenue site, the firm said in a report released on Thursday. Edmund Tie & Co's GLS report ranks land parcels based on...

SINGAPORE's property market remains high on the agenda of Asia's ultra-rich, notwithstanding the cooling measures still in place. Its commercial properties are a top consideration for Asian ultra high net worth individuals (UHNWIs) keen on this asset class, moderately ahead of the UK and the US. Singapore's residential market is the second most likely place for Asian UHNWIs to own an overseas home,...