Property management company Franks Property and its sole director were on Wednesday (Dec 21) fined a total of S$215,000 for conducting unlicensed estate agency work, the largest fine meted out by a court for such an offence, the Council for Estate Agencies (CEA) said in a media release. The company had carried out three property transactions without first being licensed as an estate agent. Its sole...
“There's nothing much to say,” 80-year-old Mdm Lee said, when asked about the looming demolition of Rochor Centre - her home for the past 40 years. “I'm very sad.” Authorities have yet to announce the exact date the wrecking crew turns up, but have previously said the iconic, rainbow-coloured estate would be torn down at end-2016. Mdm Lee remembers the day the Government said it would acquire...
CACHE Logistics Trust on Monday said that it has signed a deal with Agility International Logistics for the proposed divestment of Cache Changi Districentre 3 for S$25.5 million. This price is in line with the independent valuation by CBRE on Nov 30, 2016. Cache Changi Districentre 3 is located in the Changi International LogisPark (North) and has a remaining land lease of about 17 years. The...
The government has marginally raised residential supply under the confirmed list of its Government Land Sales (GLS) programme in what is seen as a delicate balancing act of meeting improved buying demand, while managing the downside risks if the economy worsens. The lack of commercial sites on the confirmed list - a list where sites are put up for tender according to schedule - is also providing the...
Some 17,000 Build-To-Order (BTO) flats will be launched next year, about 1,000 fewer than the number put up for sale this year, as the Government tapers the supply of public housing units. Announcing the supply for next year, National Development Minister Lawrence Wong also said that young couples can look forward to shorter wait times for BTO units, possibly by 2018. "Over the past year, I’ve...
Private property developers saw lacklustre sales in November, with the number of new units sold falling 31.4 per cent from the previous month, figures released by the Urban Redevelopment Authority (URA) on Thursday (Dec 15) showed. Excluding executive condominiums (ECs), 860 new private homes were sold last month, down from the 1,253 units sold in October. Including ECs, 1,110 units were sold, down from...
Ministry of National Development unveiled on Friday five confirmed list sites and ten reserve list sites under the first half 2017 (1H2017) Government Land Sales (GLS) Programme. These sites can yield up to 7,465 private residential units and 158,080 square metres (sqm) gross floor area (GFA) of commercial space. The confirmed list comprises five private residential sites which can yield 2,330...
AS expected, the Singapore dollar fell and local interest rates rose on Thursday following the interest rate hike by the US Federal Reserve. The Fed raised the target range for its federal funds by 25 basis points to 0.5 per cent to 0.75 per cent during its Dec 14 meeting. At 8.30am on Thursday, one US dollar was worth S$1.4432, up 1.4 per cent from its close on Wednesday of S$1.4237, said Reuters....
Developers have already sold more new, private residential units and executive condominiums (ECs) so far this year than the whole of last year, thanks to the momentum sustained in November when two new projects were launched. This means 2016 will mark the highest number of new sales by developers in three years. A total of 7,769 private residential units were sold by developers in the first 11 months,...
Ride-hailing giant Uber Technologies Inc is expanding its footprint in a big way in Singapore. BT understands that it has leased about 55,000 sq ft on Levels 35 and 36 of Guoco Tower. This is more than double the 20,000 sq ft that Uber is currently leasing at the nearby Mapletree Anson, where Uber's Asia-Pacific regional office is based. Sources say that for the past month or so, Uber has been...