Local developer Perennial Real Estate Holdings is making its foray into Africa through a joint venture deal with Shangri-La Asia to develop an integrated mixed-use complex in Ghana worth more than US$250 million (S$352 million). In a statement on Friday (Aug 21), Perennial said it will acquire a 55 per cent stake in a 49,874 square metre (sqm) site from Shangri-La Asia for S$21.3 million. The site is...

Singapore-listed developer GuocoLand is selling a large development project in Beijing for RMB10.5 billion (S$2.3 billion), in a deal that is expected to generate a net gain of RMB1.58 billion. The sale of the Dongzhimen (DZM) mixed-use development to China Cinda Asset Management provides an opportunity for GuocoLand to realise the development's capital value, the developer said in a stock marketing...

Keppel Land topped off its latest commercial project, the International Financial Centre Jakarta Tower Two, in Jakarta's Central Business District on Tuesday (Aug 18). The developer is seeking to grow its commercial portfolio in key Asian cities. Singapore and China remain its core markets, but the firm sees Indonesia and Vietnam as key growth areas. Mr Sam Moon Thong, President (Indonesia) of Keppel...

Hillion is Singapore’s first mixed-use development in the West to integrate residential living with a retail mall (4 levels of retail space), bus interchange as well as both MRT and LRT stations. It will be the heart of Bukit Panjang. It celebrates nature with lush greenery and open spaces for residents. The name ‘Hillion’ draws inspiration from what Bukit Panjang stands for – Long Hill. It is...

Sales of new private homes last month jumped to its highest level since the Total Debt Servicing Ratio (TDSR) came into effect two years ago, but the increase was driven by a single development and does not reflect an improvement in market sentiment, analysts noted. Developers sold 1,594 private residential units last month, more than four times the 375 units sold in June and thrice the 511 units...

The occupancy rate in the industrial space market fell from 93 per cent in 2012 to 91 per cent in 2014, following the Government’s release of more industrial land in recent years. The occupancy rate of JTC’s and HDB’s industrial facilities also dipped from 97 per cent in 2012 to 94 per cent in 2014, said Trade and Industry Minister Lim Hng Kiang in a written parliamentary reply on Monday (17...

About 100,000 first-timer applicants, including families and singles, have bought a new HDB flat since 2008. National Development Minister Khaw Boon Wan said this in a written parliamentary reply to MP Gan Thiam Poh on Monday (17 Aug). Among the successful applicants, about 50,400 have collected keys to their flats. Another 6,700 will be collecting their keys later this year, added Mr Khaw. "We...

Citizens with foreign spouses, but without children, have the same priority as singles when applying for 2-room Build-To-Order (BTO) flats, said the Ministry of National Development on Tues (Aug 18). Minister Khaw Boon Wan, in response to a question from MP Gan Thiam Poh, said that when assigning priority, the Housing and Development Board takes into account the housing needs of the buyers and the...

Studio Apartments are targeted at senior citizens who are looking to "right-size", so they can purchase the flats with their sales proceeds and there is no need for a housing loan, said National Development Minister Khaw Boon Wan in Parliament on Tuesday (Aug 18). Mr Khaw said this in reply a question by MP Gan Thiam Poh, who asked if HDB will consider offering a HDB loan to senior citizens looking to...

There are no plans to retrofit Housing and Development Board (HDB) flats with double-glazed windows as the current single-glazed windows are sufficient for noise reduction, Senior Minister of State for National Development Lee Yi Shyan said in Parliament on Tuesday (Aug 18). “When planning HDB towns or estates, HDB will conduct noise modelling, with a view to locate and orientate the buildings in such...