The Urban Redevelopment Authority (URA) on Wednesday (Mar 18) launched a request for proposals from design professionals to develop a Concept Master Plan and concept proposals for Singapore's Rail Corridor. Over the past three-and-a-half years, URA has been engaging different segments of the community to gather feedback on the 24-km long Rail Corridor spanning the north to south of Singapore. These have...
Sales of private homes last month rose from the previous month as developers scaled back new launches. Excluding executive condominiums (ECs), developers sold 382 new units in February, up from the 374 units sold the previous month, data from the Urban Redevelopment Authority showed on Monday (Mar 16). Including ECs, 447 new units were sold last month, down from 558 units the previous month. The rise in...
The planned Trade Association Hub for trade and industry groupings will be set up by early 2017. This was revealed at the signing of a memorandum of understanding (MoU) between JTC Corporation and the Singapore Chinese Chamber of Commerce and Industry (SCCCI) on Monday (Mar 16). SCCCI will come on board as the hub's anchor chamber. Located at iHub - the old Jurong Town Hall - the Trade Association Hub...
More than 2,000 people showed up on the first day of public viewing of the North Park Residences show gallery on Saturday (Mar 14). The development by Frasers Centrepoint, touted as the largest integrated development in Singapore's north, is expected to be launched at the end of the month and will be ready by 2018. The queues started early with many attracted to the location and amenities the development...
Competition is likely to get more intense in the private residential property market, with developers rolling out new projects. Based on new home sales data for January 2015 from the Urban Redevelopment Authority, there are 20 large developments with a total unsold stock of more than 200 units each - excluding executive condominiums. They include recent projects like Symphony Suites in Yishun, as well as...
Homeowners servicing mortgages will need to tighten their purse strings further: The three-month Singapore interbank offered rate (SIBOR) on Wednesday (Mar 11) charged past 0.9 per cent — a level not seen since 2008 — amid widespread expectations that the United States Federal Reserve will raise benchmark borrowing costs by mid-year. The local interest rate, widely used to price home loans here,...
A total of S$740 million will be spent to spruce up the Republic's cultural institutions and landmarks in the Civic District, said Minister of Culture, Community and Youth Lawrence Wong on Thursday (Mar 12). These "significant investments" include works done on the National Gallery Singapore, dubbed the "new jewel of the Civic District" and the largest visual arts centre in the region, Mr Wong said during...
A specialised high-rise development for the furniture industry will be set up at Sungei Kadut to help Singapore firms operate more efficiently, Senior Minister of State for Trade and Industry Lee Yi Shyan said on Friday (Mar 13). He said the JTC Furniture Hub @ Sungei Kadut will be the first specialised, high-rise and multi-tenanted development to bring furniture companies and related service providers...
Keppel Corp will extend the closing date of its offer to buy up the remaining shares of Keppel Land to March 26. The offer was due to expire on Thursday (Mar 12). As of Wednesday, Keppel Corp controls 80.8 per cent of the total number of issued shares. This is short of the 90 per cent level needed to take the property giant private. Earlier this year, Keppel Corp, the world's largest rig builder, offered...
While various proposals have been received on how to revamp the Rail Corridor for future use, there is "no rush" to develop the entire stretch at once, said Minister of State for National Development Desmond Lee on Wednesday (Mar 11). Speaking at the 2015 Committee Of Supply Debate, Mr Lee announced that the authorities are ready to launch a Request for Proposal (RFP) for the concept master plan and...