Waterway Point in Punggol will open on Jan 18, the mall confirmed on Facebook. Frasers Centrepoint Malls had announced in August that 90 per cent of the retail space in the mall has been tenanted. Waterway Point will have four levels of indoor shopping, leisure and alfresco dining spaces, with a view of Punggol Waterway. Among its key tenants are a 24-hour FairPrice Finest supermarket that will take...
Ascendas Real Estate Investment Trust (A-REIT) has announced the proposed acquisition of a logistics property located in Sydney, Australia, for A$76.6 million (S$76.6 million), it said in a press release on Thursday (Dec 24). The proposed acquisition will be A-REIT’s 10th logistics facility in Sydney and the 27th in Australia, it added. The property - 6-20 Clunies Ross Street - comprises a modern high...
Nearly 80 years after it was built, the Haw Par Villa theme park is undergoing a makeover. Fresh attractions will be created with some focusing on brand new themes. Efforts are also in the works to bring in a new generation of visitors. The new operator, Journeys, said some of the new attractions it plans to bring in are fine dining and a museum on successful Asian businesses. Formerly known as Tiger...
Ascendas Hospitality Trust (A-HTRUST) said on Wednesday (Dec 23) its managers are reviewing various strategic options after an unnamed party expressed interest in buying the trust. "This follows the recent receipt of an unsolicited expression of interest (EOI) relating to the possible acquisition of all the stapled securities issued by A-HTRUST," the trust said in a stock market filing. "The managers...
Compass Point will have a new name when it re-opens with a new look next year. The shopping centre said on its Facebook page on Tuesday (Dec 22) that the name 1 Sengkang Mall has been approved by Government authorities. In the Facebook post, Compass Point said the mall was renamed to Sengkang Mall before updating the post and changing it to "1 Sengkang Mall" at about 10am on Wednesday. It also...
Businesses and homeowners in Singapore should expect to pay higher interest rates in the coming year. That is according to economists following the US Federal Reserve's decision overnight (Dec 16) to raise its benchmark rate by one quarter of a percentage point to between 0.25 per cent and 0.50 per cent. Economists said the Fed's first interest rate hike in nearly a decade is a sign of confidence...
The Verge, a struggling mall in Little India, is being sold for S$317 million to a company controlled by Keith Tang, grandson of CK Tang founder Tang Choon Keng and who owns a chain of hotels and serviced apartments in Australia and New Zealand. Mr Tang is expected to assemble a consortium for the purchase and redevelopment of The Verge, which is on a site with about 80 years' balance lease. He plans to...
The property market could finally be showing signs of stabilising, two years after the Government introduced a slate of measures, including the Additional Buyer's Stamp Duty and the Total Debt Servicing Ratio. HDB resale prices have fallen about 10 per cent from their highs in 2013, while private resale prices have come off by about 8 per cent. After taking office, the new Minister for National...
Mortgagee listings in Singapore look set to hit a seven-year high by the end of 2015. According to property services firm Colliers International, 241 repossessed properties were put up for auction this year, up by almost 52 per cent from 159 in 2014. This is the highest since 2008. In a media release on Thursday (Dec 17), Colliers International said there were 555 owner listings in the property auction...
The Government has cut the amount of land it plans to sell in the first half of next year, the Ministry of National Development (MND) said, as property prices remain subdued. Its revised programme will comprise four sites on the confirmed list, which will be launched for sale on set dates, and 12 sites on the reserve list, which will be put up for tender when a developer has offered an acceptable...