JTC has awarded the tenders for two industrial sites at Tampines Industrial Drive and Tuas South Link 1 to the highest tenderers, Hock Lian Seng Holdings and Diamond Land respectively. Hock Lian Seng bid S$3.708 million for the 4,890 sq m site at Tampines Industrial drive, which drew four bids. The tenure is for 20 years, and the site is zoned "Business 2" with a gross plot ratio of 1.4. Meanwhile,...
More than four months after it announced the proposed sale of The Verge mall in Little India, DRB-Hicom has officially called off the deal. The termination was due to the inability of the buyer, a Singapore-incorporated vehicle controlled by Keith Tang, to fulfil its contractual obligations on the agreed completion date, DRB-Hicom said in a regulatory filing with Bursa Malaysia on Thursday. The move...
Bonvests Holdings on Friday announced that its subsidiary, Essential Investments, has entered into an agreement to sell two retail shop units for a total consideration of approximately S$13.7 million. The two units located at 220 Orchard Road, Midpoint Orchard, #B1-10 and #B1-11 will be sold to Chu Chee Keong. Bonvests Holdings also announced earlier on Friday that its subsidiary, Bon-Food, has...
THE strong interest expressed for recent executive condominium (EC) projects in the form of e-applications have not resulted in actual launch sales - a trend industry players say is pointing to a potential supply overhang of ECs in the short-term, one which could take one to three years for the market to digest. Though most of them say a conversion rate of 20 to 30 per cent from e-applications would be...
THE manager of Frasers Hospitality Real Estate Investment Trust on Friday said the trust will acquire Germany's Maritim Hotel Dresden for 58.4 million euros (S$90.6 million). This is Frasers Hospitality Trust's first hospitality asset in Germany as well as its first acquisition from a third party. Maritim Hotel Dresden is a freehold, 328-room hotel located in the city centre of Dresden, the capital of...
Bonvests Holdings on Friday announced that its subsidiary Bon-Food has entered an agreement to sell one of its leasehold shop units for a total consideration of S$14.55 million. The unit, which is located at Block 829 Tampines Street 81 #01-296, will be sold to Advance Facilities Pte Ltd. Proceeds from the sale will be used to fund Bonvests' current projects. The net asset value, aggregate value...
The Malaysian fund that invests on behalf of the country's 18 million Muslims plans to offer the London headquarters of law firm King & Wood Mallesons for sale, according to one of its investment managers. Gatehouse Bank Plc, which manages some real estate investments on behalf of the Lembaga Tabung Haji, has hired broker Savills Plc to find a buyer for the office building at 10 Queen Street Place, the...
RESALE volumes of HDB flats rose in April as prices continued to moderate by 0.1 per cent from a month ago, figures from SRX Property on Thursday shows. According to HDB resale data compiled by SRX Property, 1,828 HDB resale flats were sold in April, a 10.3 per cent increase from 1,657 transacted units in March, and 13.5 per cent higher than a year ago. "The volume represents a record high since the...
THE brother-and-sister pair that runs Swiss luxury watch and jewellery house Chopard has picked up an office floor at Tong Building in Orchard Road for S$25.5 million. The price works out to S$3,713 per square foot on freehold strata area for the 13th floor of the 19-level building located between Lucky Plaza and The Paragon. While the purchase from fashion retailing group Kwang Sia was made through...
AS A harbinger of how technology is encroaching into the role of real estate agents, the latest survey by the Council for Estate Agencies (CEA) suggests that more people may eventually choose to complete property transactions on their own. In the Public Perception Survey, three in every 10 consumers were undecided about whether to engage a property agent for future transactions. This was up from 25 per...