AMID strong developer appetite for condo development sites which has buoyed land prices, the government has upped the average DC (development charge) rate for non-landed residential use by 4 per cent for the March 1-Aug 31, 2017 period. This is the second consecutive hike in the average DC rate for such use, following the 2.7 per cent rise during the previous revision six months earlier. DC is...
Northstar Group said it is in the early stage of exploring an initial public offering of Singapore's biggest real estate agency ERA Realty Network, which has turned out to be one of its top-performing investments thus far. But the Singapore-headquartered private equity firm remains mum about when ERA will return to the local bourse since the delisting of its former listed parent Hersing Corporation four...
CUSHMAN & Wakefield, together with the Collective Sale Committee, has secured approval for the redevelopment of Singapore's first air-conditioned mall Katong Shopping Centre for commercial and serviced residence use. The reserve price remains the same at S$630 million which translates to a land price of $S2,248 per square foot of gross floor area, said Cushman & Wakefield, the exclusive marketing agent...
The Clementi Canopy, a new condominium project in Clementi Avenue 1, has sold 195 units (38.6 per cent) of the 505-unit development during its first weekend launch. Some 250 units were released over the recent weekend, according to property developer UOL Group. Anthony Wong, general manager for marketing at UOL, said: "Out of the 250 units released on the first weekend launch of The Clement Canopy,...
THE two largest property realtors in Singapore have yet to receive any cancelled prior sale submissions for resale flats following the announcement of bigger housing grants for first-time HDB buyers in the Budget reading on Monday. Finance Minister Heng Swee Keat had announced in Parliament that young couples buying a resale HDB flat for the first time will be enjoying higher subsidies of up to...
Property and hotels group City Developments Ltd (CDL) is planning a major refurbishment of its flagship Singapore office property in Raffles Place, turning an imminent outflow of some tenants into an opportunity to spruce up the ageing building. CDL deputy CEO Sherman Kwek, speaking to reporters after the group posted weaker fourth quarter and full year earnings, said works at Republic Plaza are likely...
ARMED with a war chest of more than S$3 billion and an improved balance sheet, City Developments (CDL) is poised to make acquisitions in Singapore and overseas, prompting some analysts to raise the target price for the property group. CDL is their preferred pick among property counters here for its asset monetisation ability, nimble capital management and acquisition potential. "We expect City...
Qingjian Realty (South Pacific) Group on Wednesday laid the foundation for what it touts as Singapore's first Internet-ready executive condominium (EC), with the signing of a memorandum of understanding with telco Singtel and lifestyle app hiLife. iNz Residence will improve on the smart living features first seen in the Visionaire, launched last year by Qingjian Realty as the first EC with smart...
Final-year university student Belle Low has been looking to settle down with her boyfriend of four years. So far, her search for a first home has been concentrated largely on Build-to-Order (BTO) flats. But she said the increase in the CPF Housing Grant has opened up an additional option for them: the resale market. In his Budget statement delivered on Monday (Feb 20), Finance Minister Heng Swee Keat...
Two recent charges against local real estate firms promoting overseas residential investments have put the spotlight back on such risky purchases. A financial penalty was imposed on property agency Square Yards last month after it failed to to provide a written note to an investor telling him about the risks involved in a foreign purchase, according to a media release by the Council for Estate Agencies...