A CONSORTIUM led by Sam Goi's GSH Corporation has entered into a binding term sheet with Hong Kong-listed Fullshare Holdings for the proposed sale of the consortium's investment vehicle, Plaza Ventures, at S$725.2 million. Plaza Ventures is the vehicle the consortium used for the purchase of the former Equity Plaza in 2014. The consortium then renamed the building GSH Plaza and embarked on a major...

WHEN the redeveloped Robinson Towers opens in end-2018, it will be equipped with a new automatic carpark system that uses battery-powered automated guided vehicles (AGVs) instead of conveyor belts or lifts. MHE-Demag, the material-handling arm of industrial group Jebsen & Jessen (SEA) which is bringing the technology into Singapore, said that the automated carpark system using AGVs is the first of its...

THE Ministry of Law (MinLaw) yesterday unveiled a S$25 million refurbishment plan that will restore the heritage of the Red Dot Traffic building at 28 Maxwell Road. Last month, MinLaw announced that it would be taking over the conserved building for the expansion of Maxwell Chambers, one of the top five international arbitration centres in the world. The building will add 120,000 square feet of space to...

Private home prices in Singapore fell 3.1 per cent in 2016, with both landed and non-landed properties witnessing a drop in prices, according to latest figures by the Urban Redevelopment Authority (URA) on Thursday (Jan 26). The private residential property index also saw a 0.5 per cent dip from 137.9 in the third quarter to 137.2, which is the 13th consecutive quarter of decline. For the prices of...

The resale prices of Housing and Development Board (HDB) flats fell by 0.1 per cent in 2016, according to latest figures from HDB released on Thursday (Jan 26). For the fourth quarter of 2016, the Resale Price Index saw the same drop when compared to the previous quarter, it added. Resale transactions dropped 9.1 per cent from 5,514 cases in the third quarter to 5,012 in the fourth quarter of 2016....

Members of the public who want to submit their views on proposed key amendments to the Building Maintenance and Strata Management (BMSM) Act can do so in a third and final public consultation, said the Building and Construction Authority (BCA) on Wednesday (Feb 1). The amendments in the draft Bill aim to enhance governance and transparency over how strata-titled developments are run, as well as provide...

PROPOSED changes to the law that governs the management and maintenance of strata properties here were announced on Wednesday, aimed at improving the governance and transparency in the management of strata-titled developments, and providing greater clarity to existing provisions. Chief among the proposals is a cap on the number of proxies one can hold during a general meeting, to prevent abuse by those...

Located along Marine Parade Road, Marine Blue is an exclusive and luxurious freehold residential development that is within close proximity to the bustling Marine Parade Town Centre, East Coast Park and is a 15-minute drive to the Central Business District. Consisting of two sleek towers of height 16 storeys and 17 storeys respectively, Marine Blue is cleverly designed such that most of the 120 units will...

WEEKS ahead of Budget 2017, real estate consultancy JLL has proposed that the additional buyer's stamp duty (ABSD) on residential purchases be removed or reduced, and replaced by an annual tax on non-owner occupied units. This "property tax" would be over and above the unit's current property tax. But such an argument has not gained traction with other market watchers - some have a different reading of...

A new record high in HDB resale prices was achieved at Natura Loft, an HDB Design, Build and Sell Scheme (DBSS) project in Bishan where a five-room flat was transacted at S$1.18 million last month. This already marks the third HDB resale transaction in the first month of 2017 that crossed a million dollars, according to SRI Pte Ltd, whose property agent represented the seller. This translated to...