Anchor tenants – like major department stores and big name brands – have long been used to pull the crowds into shopping malls. But against a more challenging retail landscape, industry analysts told Channel NewsAsia that this strategy may no longer have the same draw. The landlord-anchor tenant relationship is also coming under the spotlight, amid an ongoing rental dispute between landlord Ngee...
Seletar Aerospace Park, which houses more than 60 aerospace companies, including multi-national corporations (MNCs) and local small and medium enterprises (SMEs), aims to create more than 10,000 jobs by 2018. As the 320-hectare industrial park becomes home to more employees, new developments are being planned to bond the community, said its developer JTC Corporation. For example, a cluster of 32...
Private home prices in Singapore continued their decline in the first quarter of this year, according to flash estimates released by the Urban Redevelopment Authority (URA) on Friday (Apr 1). The private residential property index fell to 140.6 points in the first quarter, down 1 point from the previous quarter. This represents a decline of 0.7 per cent, compared with the 0.5 per cent decline in the...
Resale prices of flats dipped 0.1 per cent in the first quarter of the year compared to the previous quarter, according to flash estimates from the Housing and Development Board (HDB) released on Friday (Apr 1). The decline comes after the Resale Price Index (RPI) for the fourth quarter rose 0.1 per cent from the previous quarter. The RPI for the first quarter of 2016 came in at 134.6, down...
The founder of a popular Sichuan-style hotpot (steamboat) chain that originated in China and which is well-known for its dedicated customer service - is understood to have bought a Good Class Bungalow at Gallop Road. Zhang Yong, a Singapore citizen, is paying S$27 million for the bungalow, which was rebuilt and completed in 2012. The price works out to S$1,700 psf based on the property's freehold land...
ONE man's misfortune might be another man's opportunity. But no one succeeded in seizing the chance to buy the freehold bungalow at 85 Branksome Road, owned by the recently bankrupted managing director of spice trader Pars Ram Brothers. The property was put up for sale by the lender on Wednesday at DTZ's auction, but it failed to find a buyer despite a healthy turnout. This was despite the property...
Japanese cheap-chic fashion brand Uniqlo will open its first global flagship store in Singapore and in the South-east Asia region "this autumn", according to a press release on Tuesday (Mar 29). The new store, which will be the largest in Singapore and the region, will be located in Orchard Central, and will have a sales area of about 2,700 square metres across three levels in the mall, the company...
A commercial and residential site at Bukit Batok West Avenue 6 has been launched for sale under the Confirmed List of the First Half 2016 Government Land Sales Programme. The site can potentially yield about 425 homes and a maximum gross floor area of 6,000 sqm for commercial use, the Urban Redevelopment Authority (URA) said on Wednesday (Mar 30). The tender for the site will close at noon on May 24....
Resale prices of private homes rose marginally in February, according to Singapore Residential Price Index (SRPI) flash estimates released on Monday (Mar 28). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices rose 0.4 per cent in February from the previous month. In January, prices rose 0.2 per cent from a month earlier. Prices of...
Macy's Inc appointed William Lenehan, an expert in real estate investments, to its board amid investor pressure to monetize its real estate assets. Shareholder Starboard Value LP has been pressuring Macy's since July to spin off its real estate assets, which the hedge fund estimates are valued at about US$21 billion. The assets include Macy's landmark properties Herald Square and Union Square stores...