FRESH from selling Asia Square Tower 1 for S$3.4 billion, or around S$2,700 per square foot (psf) on net lettable area (NLA), to Qatar Investment Authority, BlackRock says it is looking at Singapore for other potential property investment opportunities. "We are looking predominantly at office and retail at the moment. Residential probably has a little bit further to fall because of the taxes (such as...
QATAR Investment Authority (QIA) said on Monday it has reached an agreement with a subsidiary of a fund advised by BlackRock to acquire Asia Square Tower 1 in Singapore at about S$3.4 billion. This marks the largest single-tower real estate transaction in Asia-Pacific to date, and the second largest single-tower real estate transaction globally. Asia Square Tower 1, an award-winning landmark office...
A decade after he got shunted aside at Facebook Inc, Eduardo Saverin's found another scrappy internet startup he's proud to put his name behind. The billionaire is reinventing himself as an Asian venture capitalist and thinks he's found a winner in little-known 99.co, a Singaporean house-hunting service founded by local wunderkind Darius Cheung. So much so that Mr Saverin, who's flown under the radar...
THE downtrend in the supply of state land in the confirmed list for private housing (excluding executive condos) development may be reversed in the second-half of this year. Some property consultants predict a moderate rise in supply, citing developers' strong appetite for land replenishment and a recent pick-up in private home sales. The timing of any potential tweaking of cooling measures would also...
In what is the biggest transaction in a Good Class Bungalow Area in nearly a year, a house along Kingsmead Road where the late Raffles Institution principal Philip Liau used to reside is being sold for S$29 million. The price works out to S$1,065 per square foot based on the freehold land area of 27,228 sq ft. The buyer is understood to be Darwin Indigo, a nephew of Wilmar executive deputy chairman...
SINGAPORE tycoon investor Peter Lim has bought a 20 per cent stake in TheEdgeProperty.com, the new property portal of Malaysia's The Edge Media Group, for an undisclosed sum. The EdgeProperty.com was launched in Malaysia on May 7, and will officially make its debut in Singapore on July 25. Mr Lim had previously also invested in Valencia football club, Thomson Medical Centre, FJ Benjamin, and McLaren....
A new per square foot record price for an entire Singapore office building could be set if a deal that is brewing for Straits Trading Building on Battery Road materialises. Indonesian tycoon and philanthropist Tahir is said to be in exclusive due diligence with a view to purchase the 28-storey, 999-year leasehold building for S$560 million. This translates to slightly more than S$3,520 psf based on the...
THE Straits Trading Company's subsidiary, Straits Real Estate, has entered into a conditional purchase and sale agreement with Osaka-based developer Chinju Co to acquire three residential buildings located in Central Osaka for 6.2 billion yen (S$76.8 million). Completion of the acquisition is expected to take place by end-June. "The acquisition will complement Straits Real Estate's existing...
The canopy structures of the former Tanjong Pagar Railway Station building will be dismantled and fully restored after the completion of the new Circle Line Cantonment station in 2025, the Land Transport Authority (LTA), Urban Redevelopment Authority (URA) and Singapore Land Authority (SLA) said in a joint statement on Friday (May 27). "The old train platform canopies are important to the history and...
Resale prices of private homes rose in April, according to flash estimates from the Singapore Residential Price Index (SRPI) released on Monday (May 30). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices rose 0.3 per cent in April from the previous month. It had slid 1.1 per cent month-on-month in March. Prices of homes in the central...