The South Beach Consortium is in the process of appointing Marriott International to manage the hotel at South Beach, which will be rebranded as the JW Marriott Singapore if the deal goes through. Hong Leong Group Head of Corporate Affairs Gerry de Silva confirmed this to Channel NewsAsia on Wednesday (May 11). This will be Singapore's first JW Marriott hotel - the chain's five-star offering - when...

The number of condominiums and private apartments sold on the resale market last month hit a three-year high, even as prices edged up during the month, according to a local property index. A total of 689 non-landed private residential units were resold in April, a 17.6 per cent increase from the previous month and the highest since May 2013, SRX Property said. On a year-on-year basis, resale volume was...

Rental rates for Housing and Development Board (HDB) flats continued their downward trend in April, while those for non-landed private properties remained flat with minor fluctuations outside of the Core Central Region. Overall rental prices for private apartments were constant from March, although private apartment rents in the city fringes increased by 0.1 per cent and they decreased by 0.1 per cent...

RESALE prices of non-landed private homes in Singapore rose 0.5 per cent in April 2016 over the previous month, based on SRX Property's flash estimates for last month released on Tuesday. This follows a 0.1 per cent month-on-month gain for March 2016 - a revision from the 0.3 per cent increase that SRX Property had indicated earlier based on its flash estimates for March. Giving a geographical...

A GROUP of companies controlled by seasoned property investor Stanley Quek is selling seven shophouses for S$81.4 million to boutique real estate investment company 8M Real Estate. Five of the shophouses are adjoining properties at Nos 15, 17, 19, 21 and 23 Tanjong Pagar Road; they are changing hands for S$57.4 million. This works out to S$2,166 per square foot on the estimated gross floor area of...

FRASERS Centrepoint Limited (FCL) said on Monday that it is "reviewing and exploring the proposal for the establishment of a new real estate investment trust (Reit) to be listed on the main board of Singapore Exchange (SGX)" in response to an article by The Business Times on Monday. It added: "The company wishes to update that the relevant applications have been made to the various regulatory...

The resale prices of Housing and Development Board (HDB) flats inched down slightly by 0.1 per cent on-month in April, SRX Property said on Thursday (May 5). The price decline was driven by five-room flats, whose resale prices fell by 0.9 per cent. In contrast, the resale prices for three-room flats and executive flats rose 0.6 per cent and 0.1 per cent, respectively, and prices for four-room flats...

There will be a bigger upgrading budget and shopowners will have to bear less of the cost to upgrade their shops as part of the enhanced Revitalisation of Shops (ROS) Scheme, the Housing and Development Board (HDB) said on Monday (May 9). The ROS upgrading budget for each HDB shop will be increased by 75 per cent from S$20,000 to S$35,000 per shop, according to the press release. To encourage more...

DEVELOPER sentiment remains weak, according to the latest NUS-Redas Real Estate Sentiment Index, with the composite sentiment index remaining below 5. The index (which is a derived indicator for the overall real estate market sentiment in Singapore) inched up to 3.8 in the first quarter from 3.5 in Q4 last year. Correspondingly, the current sentiment index rose to 3.9 from 3.6, and the future sentiment...

REGIONAL property developer Wing Tai Holdings saw its takings hit by slowing sales of its property units. Its revenue for the third quarter was down 35 per cent to S$113.0 million, from S$174.1 million a year ago. Revenue for the nine-month period ended March 31, 2016, was down 12 per cent to S$403.8 million, from S$460.8 million the year before. Wing Tai said the revenue for the period was mainly...