PRICES of completed private apartments and condominium units in Singapore crept up 0.2 per cent in July over the preceding month. This is according to the National University of Singapore's (NUS) July 2016 flash estimate for its Overall Singapore Residential Price Index (SRPI) released on Monday. The July increase in the index follows a 0.7 per cent month-on-month gain in June 2016, based on the...

AFRO Asia Building - one of the oldest office blocks along Robinson Road - may finally be redeveloped. The seven-storey building, said to have been completed in the 1960s and which now houses MPH Bookstores and Uncle Sam's Claypots among its ground-floor tenants, is owned by Afro-Asia Shipping Company (AAS), which is owned by the Tan family. AAS recently roped in Shimizu Corporation as a...

RIDING on a government-led initiative to transform Woodlands into a commercial hub, Far East Organization has sold half of the released 124 strata office units in Woods Square, an integrated development it is jointly developing with Sekisui House and Far East Orchard. Prices ranged from S$1,700 to S$2,230 per square foot (psf). For the first time, it will also be consolidating its satellite operations...

The chief executive of listed pawnshop ValueMax Group, Yeah Hiang Nam, has lodged a caveat to buy a freehold bungalow along Wilkinson Road in Katong for S$30 million. It sits on a land area of 2,453 square metres. The transaction price translates to about S$1,136 per square foot (psf) of land. The sellers were Ong Tiong Seng and Ong Teck Beng, according to caveat documents obtained by The Business...

Land-hungry residential developers made a beeline for an executive condominium (EC) site in Anchorvale Lane, Sengkang, on Tuesday. The site drew 16 bids, a whopping turnout not seen for an EC site since July 2013. The top bid of S$355.07 per square foot per plot ratio (psf ppr) from a Hoi Hup Realty-Sunway Developments tie-up exceeded all expectations and is the highest offer for an EC site since a Choa...

A STATE tender for a 99-year leasehold executive condominium (EC) site along Anchorvale Lane in the Sengkang area has attracted a whopping 16 bids. The highest bid - from Hoi Hup Realty, which teamed up with Sunway Developments - was S$240.95 million, which works out to slightly over S$355 per square foot per plot ratio (psf ppr). The second highest bid, S$235 million (or S$346.30 psf ppr) , was from...

TWO strata office floors located at AXA Tower at 8 Shenton Way is up for sale from S$2,550 per square foot. The office space belongs to Perennial Real Estate Holdings, while JLL is the marketing agent for the expression of interest exercise. With a total strata area of about 25,500 square feet, the offering spans two office floors at the development and comprises eight strata office units on the 21st...

SOILBUILD Business Space Reit is raising up to S$59.4 million via a preferential offering to partly fund the acquisition of Bukit Batok Connection. The Reit is issuing up to 94.35 million new units at S$0.63 per unit through a pro-rata non-renounceable preferential offering to its existing unitholders. At S$0.63, this is a discount of 8.2 per cent to the volume-weighted average price of S$0.6865 per...

The Government’s vision for Jurong’s transformation into a distinctive, mixed-use heartlands business hub is gathering pace, following the news that the area will be home to the terminus for the Singapore-Malaysia High Speed Rail (HSR). While many residents seem enthusiastic about the energy and vibrancy that is being added to what used to be a quiet, unfashionable part of Singapore, some are...

A total of 4,841 Build-To-Order (BTO) flats were launched on Wednesday (Aug 17), the Housing and Development Board (HDB) announced. Five new BTO projects were launched - three in the non-mature towns of Hougang, Sembawang and Yishun, and another two projects in the mature town of Tampines, it said in its press release. The flats are priced from S$79,000, excluding grants, for a two-room Flexi flat...