THE Work Project - a Hong Kong-based co-working space operator - is the official co-working space partner of Downtown Gallery in OUE Downtown, OUE's upcoming mall located at 6 Shenton Way, The Business Times has learnt. It will fill the entire fourth floor of Downtown Gallery - that is, 20,000 square feet of space - and is set to deliver a new concept here of workspaces designed for the future...
THE freehold bungalow at 85 Branksome Road, vacated by the bankrupted managing director of spice and nut trader Pars Ram Brothers and his family, has found a buyer. According to caveats obtained by The Business Times, the property was sold to a special purpose vehicle (SPV) named Branksome Realty 1 Pte Ltd for S$15.08 million. This was below the opening price of S$16 million at its first auction, where...
Homegrown space provider JustGroup is rapidly scaling up its presence in the segment of co-working spaces, with plans to open two new shared offices in the heart of Singapore's Central Business District (CBD) next April. Its co-working brand JustCo currently offers 50,000 square feet of space at two locations - 120 Robinson Road and 6 Raffles Quay. With a combined floor area of more than 100,000 square...
French multinational company AccorHotels will be investing S$24 million into Singapore-based hospitality brand Banyan Tree Holdings, the latter said in a press release on Thursday (Dec 8). Under the long-term partnership, both parties intend to work together to develop and manage Banyan Tree branded hotels around the world. Banyan Tree will also have access to AccorHotels’ global reservations and...
The Housing & Development Board (HDB) announced on Saturday (Dec 10) it has given out about S$83 million in Proximity Housing Grants (PHG) since the scheme was announced over a year ago, helping more than 4,300 families. HDB said the response to the scheme "has been very encouraging" as it gives Singaporeans more options to buy a resale flat with or near their parents or married children, in their...
Real estate agency SQFT Global Properties Singapore was on Oct 4 fined S$10,000 for failing to supervise its agent with regard to the sale and marketing of a property in New Zealand. In a media release on Monday (Dec 5), the Council for Estate Agencies (CEA) said Paleenia Wong Mui Wah, who was an agent with SQFT Global Properties Singapore at the time, had told an investor that the NZ$65,000 (S$65,555)...
The minimum occupation period of the Fresh Start Housing Scheme can be “flexible” depending on the progress of the household, said Minister of State for Defence and Foreign Affairs Maliki Osman on Saturday (Dec 3). Fresh Start Housing, which opened for application on Thursday, is a scheme to help public rental families who once owned a Housing and Development Board flat to afford one again. Of...
THE volume and value of transactions in Good Class Bungalow (GCB) Areas have risen so far this year, though prices continued to soften. Market views are mixed on whether transaction volumes will rise again or fall next year although there is a consensus that prices will keep on dipping at least in the first half. Agents cited a weakening economy and the rising interest rate scenario among other...
HDB resale prices rose a slight 0.2 per cent in November compared to October this year, driven by a 0.8 per cent price increase in mature estates, versus a 0.3 per cent dip in non-mature estates. But resale volume fell in November. According to HDB resale data compiled by SRX Property, some 1,585 flats were resold in November 2016, representing a 5.3 per cent drop from 1,673 transacted units in...
PWC Building at 8 Cross Street could be in the early stages of a potential sale. BT understands that insurer Manulife has been selected to do exclusive due diligence for the purchase of the 28-storey building, which has a net lettable area (NLA) of 355,704 sq ft. PWC Building, which is owned by DBS, is on a site with a balance lease term of 78.5 years. The price is expected to be more than S$700...