A Lee Foundation-linked company has sold a row of four freehold conservation shophouses along Outram Road for S$23.8 million to construction and property group Chiu Teng. In another deal, a pair of adjoining shophouses at 277 and 279 New Bridge Road - where Korean BBQ and steamboat restaurant Manbok operates on the ground floor - was sold for S$14.5 million. The freehold, four-storey shophouses,...
Goodwood Park Hotel, once one of the best-known listed companies here, is offering to buy out its remaining minority shareholders. The Khoo family used Hotel Holdings, a private vehicle, to mount a voluntary unconditional cash offer yesterday for all the remaining shares it does not own at $43 per share. The offer values the company at $1.85 billion. The Straits Times understands that there are 183...
TWO ultra high net worth foreign property investors in Singapore are expanding their presence here. In the luxury condo market, a Hongkonger and Singapore permanent resident who co-founded a jewellery business in the Special Administrative Region is understood to have picked up a duplex penthouse at Nassim Park Residences for S$21.2 million. The 6,878 square feet penthouse - which has four bedrooms,...
The hotel that was formerly known as Movenpick Heritage Hotel Sentosa and is being rebranded into a Le Meridien has been put on the market. Sources say the asking price is S$300 million, although two recent valuations were done at S$270 million and S$284 million. These valuations work out to S$1.41 million and S$1.49 million per room respectively. Talk in the market is that both valuations assume a...
RENTALS as well as leasing volumes fell month-on-month (m-o-m) in September 2016 for both non-landed private homes and HDB flats, according to the latest flash estimates released by SRX Property on Wednesday morning. SRX's rental index for private apartments and condos fell 0.6 per cent in September 2016 over August 2016 after easing 0.5 per cent m-o-m in August 2016. The index has contracted 4.6 per...
Singapore’s iconic Raffles Hotel will embark on a 16-month restoration programme starting January 2017, the hotel announced on Tuesday. SINGAPORE’S iconic Raffles Hotel will embark on a 16-month restoration programme starting January 2017, the hotel announced on Tuesday. Structurally, the heritage property will remain unchanged; it was declared a national monument in 1987. As such, the...
NON-LANDED private residential resale prices fell 0.9 per cent in September to the lowest level in four years since July 2012, while volume slumped 17.7 per cent. According to data compiled by SRX Property, an estimated 683 private condominium and apartment units were resold in September, compared to 830 units resold in August. R'ST Research director Ong Kah Seng said: "The price fall from July to...
Resale prices for non-landed private homes fell 0.9 per cent in September 2016 from August to their lowest level in 50 months since July 2012, data from SRX Property on Tuesday morning showed. SRX said prices in the city fringe fell 1.3 per cent while those in the suburbs tumbled 1.5 per cent from the previous month. However, city centre prices rose 0.6 per cent in September from the preceding...
PROPERTY firm Metro Holdings on Tuesday said its net cash is expected to decline as it seeks out property developments, following a call from an activist shareholder for a special cash dividend. It was responding to an open letter from Quarz Capital Management dated Oct 4, 2016. Metro said its current net cash position is a recent occurrence due to the sale of properties over the last one to two...
Prices for private homes in Singapore continue to drop in the third quarter, with the private residential property index down 2.1 points from 140.0 in the second quarter to 137.9 points, the Urban Redevelopment Authority (URA) said on Monday (Oct 3). According to the agency's flash estimates, this represented a decline of 1.5 per cent, compared with the 0.4 per cent dip in the previous quarter. It is...