CapitaLand Limited, City Developments Limited (CDL) and Ascott Residence Trust (Ascott Reit) on Thursday said they will together redevelop the Liang Court site. The site comprises Liang Court mall, midscale hotel Novotel Singapore Clarke Quay and serviced residence Somerset Liang Court Singapore. This comes as CDL Hospitality Trusts (CDLHT) has proposed to sell its entire stake in Novotel Singapore...

CDL Hospitality Trusts (CDLHT) will sell Novotel Singapore Clarke Quay, part of a Liang Court site for redevelopment, for S$375.9 million and make an up-to-S$475 million forward purchase of a new hotel that will be part of the new integrated development. In a bourse filing on Thursday, CDLHT said it will also buy W Singapore hotel at Sentosa Cove for S$324 million. The 403-key Novotel hotel will be...

A pair of shophouses along Bali Lane in Bugis is up for sale by tender at a "fire sale" price of S$9.8 million, while another shophouse at Duxton Road has been launched for sale with an indicative price range of S$4.9 million to S$5 million, marketing agent PropNex Realty announced on Wednesday. The guide price of S$9.8 million for the shophouses at 13, 14 Bali Lane works out to about S$3,797 psf (per...

Singapore-listed developer CapitaLand said on Wednesday (Nov 20) that it has agreed to sell The Star Vista for S$296 million to Rock Productions, the business arm of New Creation Church. The sale, which is scheduled to be completed by the end of this year, is expected to generate about S$145 million in net proceeds and about S$32 million in net gain for CapitaLand. Advertisement The selling price is...

A hundred and four non-landed new homes with a price tag of S$5 million and above were sold in the first 10 months of this year - the highest tally in recent years. OrangeTee & Tie said the last high was in 2011, when 155 units priced above that level were transacted for the corresponding 10-month period. When looking at properties by price per square foot (psf), the number of new private homes sold...

Wealthy homebuyers are finding global cities less welcoming - even hostile - to their cash. Luxury property prices in 45 global cities rose an average of just 1.1 per cent in the third quarter from a year earlier, the weakest annual gain since the end of 2009, according to a report from Knight Frank. They fell 4.4 per cent in New York, 3.9 per cent in London, and 10 per cent in Vancouver. It's no...

Sales of private homes by developers in Singapore fell 27 per cent in October from the previous month, official data released on Friday (Nov 15) showed. Data compiled by the Urban Redevelopment Authority (URA) showed developers sold 928 units last month, compared with 1,270 units in September. Including executive condominiums, 955 units were sold. Advertisement Compared to the year ago period, the...

Singapore Press Holdings (SPH) is diversifying its purpose-built student accommodation portfolio beyond the UK, with a 15.6 million euro (S$23.4 million) acquisition in Bremen, Germany. SPH’s wholly-owned subsidiary Straits Nine has entered into an asset purchase agreement with Liberty Living (Galileo Residenz) for the proposed acquisition, SPH, which publishes The Business Times, said early on...

Owners of The Arcade in Collyer Quay are making a second stab at a collective sale with an asking price of S$780 million, 10 per cent lower than the S$868 million price tag attempted in 2014. The new asking price translates to an estimated land rate of S$2,833 per square foot per plot ratio, said marketing agent Colliers International in a media release on Wednesday. The Arcade comprises 127 office...

Yanlord Land Group has raised its cash offer for United Engineers (UE) to S$2.70 per share, after scooping up 39.2 million shares or 6.15 per cent of UE in married trades done at the same price just before noon on Tuesday. The Business Times understands that the sellers are likely to be multiple accounts aggregated by a broker. Oxley Holdings, the only other shareholder in UE with a sizeable block of...