Europe's largest hotel operator, Accor, has agreed to a deal to buy FRHI Holdings - the company that owns hotel brands Fairmont, Swissotel and Raffles - in a deal worth about US$2.9 billion (S$4.1 billion) in cash and shares. FRHI is jointly owned by the Qatar Investment Authority (QIA), Kingdom Holding Company of Saudi Arabia and Oxford Properties, the real estate division of the Ontario Municipal...
Funan DigitaLife Mall on North Bridge Road - a shopping centre primarily known for shops selling computers and other electronic gadgets - will be closed from the third quarter of 2016, to be redeveloped into a "creative hub". The mall will be closed for about three years, said CapitaLand Mall Trust Management in a press release on Thursday (Dec 10). The real estate investment trust had hinted at such...
A residential site at Clementi Avenue 1 has attracted six bids, said Urban Redevelopment Authority (URA) said on Wednesday (Dec 9). The top bid came from a consortium comprising UOL Venture Investments and Singland Homes, which offered S$302.1 million. This translates to about S$6,620.21 per sqm. Oxley-Lian Beng Ventures was the second-highest bidder, at S$276.201 million. The 140,339 sq ft site can...
Resale prices of non-landed private homes in Core Central Region (CCR) and the city-fringe have been more resilient so far this year compared to those in the suburbs. Based on the November flash estimates released by SRX Property on Tuesday, its price index for resale non-landed private homes in CCR rose 1.6 per cent from December 2014 to November 2015. Over the same period, the index for Rest of...
Rental prices for non-landed private homes fell for the 10th straight month, by 1.1 per cent in November compared to October, according to flash estimates released by SRX Property on Wednesday (Dec 9). Units in the Core Central Region (CCR), Rest of Central Region (RCR) and Outside Central Region (OCR) saw decreases in rents of 0.7 per cent, 2 per cent and 0.7 per cent respectively. On a...
Ascendas Real Estate Investment Trust (A-Reit) plans to acquire One@Changi City, a property at Changi Business Park, from two joint-venture partners, Frasers Centrepoint and Ascendas Pte Ltd, for S$420 million. This will partly be funded by the sale of new units that will raise at least S$408 million. A-Reit will offer, through a private placement, 90 million new units to institutional and other...
Hundreds of property investors and wannabes fill a stuffy conference room in Cau Giay, a working-class suburb in Hanoi. “I love property!” they stand up and yell at one another with high fives. It is an exercise prompted by the coach, Welsh multi-millionaire property investor Kevin Green, to break the monotony of sitting down all day. “Yes, yes, yes,” they shout at this three-day real...
The private housing market saw a slight upturn in November as resale prices went up from the previous month, according to flash estimates from SRX Property. Resale prices for non-landed homes increased by 0.6 per cent month-on-month, with the main price jump in the Core Central Region (CCR) at 3 per cent. The Rest of Central Region (RCR) saw a bump of 1.3 per cent, but the Outside Central Region dipped...
The former Fullerton Building, now known as The Fullerton Hotel, was officially gazetted on Monday (Dec 7) as Singapore's 71st national monument, by the country's National Heritage Board (NHB). It is the highest form of recognition given to a building for its national significance. This ensures that the building's historical features will be protected. First built in 1928, the former Fullerton...
As one of the smaller retail management companies in Singapore, AsiaMalls faces a challenge in keeping up with market leaders such as CapitaLand and Fraser. AsiaMalls manages six malls locally, including Tiong Bahru Plaza, White Sands and Liang Court. To grow traffic at its malls, the retail developer plans to roll out a slew of initiatives. These include introducing a loyalty programme, leveraging...