CAPITALAND on Monday said it has sold its 100 per cent stake in Nassim Hill Realty (NHR) to an unrelated private company, Kheng Leong, for S$411.6 million. Included in the sale are also 45 unsold units in The Nassim, a luxury freehold boutique condominium project in Nassim Hill which has sold only 10 units since 2015. CapitaLand said it is doing this to avoid paying extension charges which would kick...
IN a property market where heavyweights such as CapitaLand and City Developments are in the limelight, a relatively small company like Chip Eng Seng Corporation appears to have escaped the attention of most analysts. Although earnings in recent years have varied - from as low as S$57.2 million in 2015 to as high as S$280.7 million in 2014 - the group has been quietly putting its chess pieces in play and...
DEVELOPERS sold 8,136 private homes last year, up 9.4 per cent from the 7,440 units they moved in the previous year - and the best showing in three years. The pick-up is a reflection of improved sentiment and demand, say analysts. The executive condo (EC) market posted even more spectacular sales growth. Preliminary government numbers show that developers found buyers for 4,018 EC units last year - up...
COASSETS, a Singapore-founded startup listed on the Australian Securities Exchange, said on Tuesday that it has incorporated a wholly owned subsidiary, CoAssets Real Estate (Care), as part of the company's growth strategy. CoAssets is a real estate crowdfunding platform launched in July 2013. Care, a real estate agency, will provide a full spectrum of real estate services, including marketing, sales,...
CONSTRUCTION firm Low Keng Huat (Singapore) Limited has put in the highest bid for a residential site with first-storey commercial space at Perumal Road. At a tendered sale price of S$174.08 million, it translates to a very bullish S$1,000.72 per square foot per plot ratio (psf ppr), greatly surpassing some consultants' expectations of bids ranging from S$800 to S$850 psf ppr. This was according to...
DEVELOPERS sold 367 private homes in December 2016, less than half the 860 private homes that they sold in November 2016 but close to the 384 units that they moved in December 2015. These figures exclude executive condominiums or ECs. Including ECs, which are a public-private housing hybrid, developers found buyers for 580 units in December 2016, down from 1,111 units in November 2016 but higher than...
NATIONAL Trades Union Congress (NTUC) has emerged as a substantial shareholder of CapitaLand Mall Trust (CMT) after its stake in the retail Reit crossed 5 per cent last week. In a regulatory filing with the Singapore Exchange, CMT disclosed that NTUC's deemed stake went up from 4.9 per cent to 5.04 per cent on Jan 11 following the purchase of 5 million shares for S$10.07 million. CMT units closed 0.5...
Singapore investors ploughed more capital into real estate in the Asia-Pacific last year than a year earlier, with land and offices topping their list of purchases, even as their acquisition fervour back home continued to ease. Outbound real estate investments in the region by Singapore investors rose 31.8 per cent to US$9.7 billion, while domestic investments slipped 20.7 per cent to US$4.8...
A boutique prime freehold residential development site in District 10 will come on the market when the collective sale of One Tree Hill Garden is launched within the next week. BT understands that the reserve price in the collective sale agreement signed by the majority owners of the three-storey walk-up apartments is about S$70 million. This translates to S$1,792 per square foot based on the land area...
The five-storey Serangoon Plaza will soon be torn down to make way for a new commercial development, said property group Tong Eng on Tuesday (Jan 10). Tenants have been told to move out by the end of this month, Tong Eng said, adding that all tenants have said they will be able to meet the deadline. Mustafa, Singapore’s biggest 24-hour mall, has a branch at Serangoon Plaza and is the largest tenant...