The Concept Master Plan for the Rail Corridor has been awarded to a design team comprising Japanese firm Nikken Sekkei and local landscape firm Tierra Design. The Urban Redevelopment Authority on Monday (Nov 9) announced the winners of the Rail Corridor Request for Proposal (RFP) awards. The winning Concept Master Plan is themed “Lines of Life”. It plans to create community-centric spaces and...
The Government and real estate industry share a common interest in ensuring a stable and sustainable property market, said Finance Minister Heng Swee Keat on Thursday (Nov 5). Speaking at an anniversary dinner of the Real Estate Developers' Association of Singapore (REDAS), Mr Heng said: "The Government has always taken a medium-term approach towards managing land supply, based on fundamental...
The resale prices of Housing and Development Board (HDB) flats were unchanged month-on-month in October, the Singapore Real Estate Exchange (SRX Property) said on Thursday (Nov 5). The resale prices for 3-room flats and Executive flats rose by 0.7 and 0.9 per cent, respectively, while the resale prices for 4- and 5-room flats fell 0.8 and 0.1 per cent, respectively. Overall, prices have declined 2.6...
Ascendas Group has entered into a joint venture agreement with China's state-owned industrial and trading enterprise, China Machinery Engineering Corporation (CMEC), for strategic collaboration in industrial/business park investments and developments across Asia. Under the joint venture, the two companies will jointly explore opportunities in key Asian countries under China's One Belt One Road...
A host of issues continue to plague developers here - from an oversupply of residential units, a ballooning unsold inventory to rising costs of development and operations. "As such, prices cannot drop too deeply without affecting the quality of our products and operational obligations," said president of the Real Estate Developers' Association of Singapore (Redas), Augustine Tan, at the Redas...
A 99-year leasehold private housing site along Lorong Lew Lian, near Serangoon MRT Station and Nex, has attracted 11 bids at a state tender. The highest bid - from a three-way partnership involving City Developments' unit, Verwood Holdings, Hong Leong Holdings' unit, Intrepid Investments, and TID Residential - was S$321 million or nearly S$710 per square foot per plot ratio (psf ppr). The lowest bid,...
CapitaLand, South-east Asia’s biggest developer, says it has withdrawn from negotiations to buy Asia Square Tower 1. The company will continue to explore opportunities that allow it to generate required returns, it said in a statement today (Nov 4). CapitaLand didn’t give a reason for its decision. A consortium of Norway’s sovereign wealth fund and CapitaLand was chosen as the preferred bidder...
The Housing and Development Board (HDB) has said it is looking for a replacement contractor for the McNair Towers Build-to-Order (BTO) project, after the contractor ran into financial issues. Construction of the 861-unit public housing development at McNair Road has halted since October, said HDB in response to queries from Channel 8 News on Wednesday (Nov 4). The halt came after the contractor,...
Insurance giant Lloyd's on Wednesday (Nov 4) opened its new, bigger office in CapitaGreen, as it looks to expand its presence and tap regional growth. Lloyd’s has been operating in Singapore since 1999. It has grown to 20 service companies with 24 syndicates and more than 380 employees, making it Lloyd's largest hub outside London. Lloyd's chief executive officer Inga Beale, who was in Singapore to...
Hersing Centre, formerly Toa Payoh Entertainment Centre, is being offered for sale, with an indicative price around S$78 million, exclusive marketing agent JLL said on Monday. This translates to about S$1,750 psf on the total gross floor area of about 44,411 square foot, JLL added. The 3-storey commercial building with a mezzanine level, is strategically located in the heart of Toa Payoh Central,...