Residents in Jurong can look forward to a new integrated community lifestyle and water sports hub in two years' time. It will have a bigger boat storage area, as well as a landscaped roof deck to overlook Jurong Lake. To pave the way for this, the People's Association (PA) is temporarily closing its Water-Venture outlet at the lake. It has hosted water sports activities in the area for almost 10...

A Build-To-Order (BTO) project in Hougang has become the first public housing project to receive the highest Building and Construction Authority (BCA) accolade for construction quality, said the Housing and Development Board (HDB) on Sunday (Sep 20). Hougang Capeview, which comprises 781 residential units in six blocks at Upper Serangoon Road, received a Construction Quality Assessment System (CONQUAS)...

Work on a community civic centre in Geylang Serai which promotes Singapore's cultural heritage will begin soon. The centre, called Wisma Geylang Serai, will house a community club and other social and community-related facilities. It will be fully operational by 2018. The ground breaking ceremony for the centre was held Sunday morning (Sep 20). A pedestrian network will also be built to enhance...

The Housing and Development Board (HDB) on Friday (Sep 18) reported a deficit of S$2.02 billion for the financial year ended in March 2015. This is 2 per cent more than in the previous year, where a deficit of S$1.97 billion was incurred. The bulk of the FY2014/2015 deficit comes from HDB's home ownership segment, which covers the development and sale of flats. This came in at S$1.75 billion, down from...

Industrial landlord Ascendas Real Estate Investment Trust (A-REIT) is set to acquire 26 logistics properties in Australia for A$1.013 billion (S$1.013 billion) in a move to diversify geographically, its manager Ascendas Funds Management announced on Friday (Sep 18). This will be subject to post-completion adjustments, with the money payable to the real estate arm of GIC and Frasers Property Australia...

Singapore-based real estate firm Mapletree has expanded into Vietnam’s retail property sector, with the official opening of its first shopping mall in Ho Chi Minh City on Sunday (Sep 20). SC VivoCity, jointly developed by Mapletree and Saigon Co Op Investment Development Joint Stock Company (SCID), has a gross floor area of 62,000 square metres. Retailers have taken up 84 per cent of the net lettable...

Marina One announced on Friday that it had secured a strong line-up of anchor retail and food & beverage (F&B) brands that include Virgin Active, Cold Storage and Cookhouse by Koufu, ahead of the Singapore development's expected issuance of its temporary occupation permit in 2017. "Anchoring Virgin Active, Cold Storage and Cookhouse as our key retail tenants reinforces Marina One's vision to be the...

The landmark CPF Building at 79 Robinson Road has been put up for sale by public tender, after the Central Provident Fund (CPF) Board signed a long-term lease to rent space at Novena Square Towers A and B for the Board’s operations. Its marketing agent CBRE said the relocation of CPF offices in the building will "free up prime office space in the Central Business District for higher-value...

In its latest call for the Government to scale back on property curbs, the Real Estate Developers’ Association of Singapore (REDAS) cautioned about a collapse in the housing market, saying that a deterioration in economic sentiment, dwindling sales and greater upcoming supply would risk precipitating a downward spiral of property prices. “The property market is clearly heading for a different phase,...

With an impending oversupply of private residential homes, the Real Estate Developers' Association of Singapore (REDAS) has said it is ready to work with the Government to address the situation. REDAS estimates that there will be 67,000 new units by 2019, excluding executive condominiums. This represents 20 per cent of the total number of private residential units currently. Only 6,500 homes were...