Concerns about co-working giant WeWork may amplify the negative impact of a weakening economy on Singapore's commercial real estate investment trusts (Reits), according to Credit Suisse Group. Poor sentiment on the company could further damp demand for co-working spaces amid slowing gross domestic product growth, hurting office Reits, analysts led by Nicholas Teh wrote in a report. "Office Reits have...

Two straight quarters of increases in the overall private home price index of the Urban Redevelopment Authority (URA) have sparked a debate on whether this might prompt the authorities to respond with more measures to cool down the property market. Barclays' regional economist Brian Tan thinks the risk of more cooling measures has risen to "a relatively high level", and that the government could act...

Keppel Reit has sold Bugis Junction Towers to Village Prop Pte Ltd for S$547.5 million or S$2,200 per square foot, S$388 million more than the S$159.5 million the property was acquired for in 2006. The Business Times understands the main buyer is a fund managed by Angelo Gordon, a US-headquartered global alternative investment manager. Alongside the fund, Singapore-based property investment manager...

Private home prices in Singapore rose for the second consecutive quarter, with apartments in the central region proving most popular with buyers. The private residential property index increased 0.9 per cent to 152.2 points in the third quarter, data from the Urban Redevelopment Authority (URA) showed on Tuesday (Oct 1). Private home prices had fallen 0.7 per cent in the first quarter and 0.1 per...

Midtown Bay - the residential component of Guoco Midtown integrated development that is set to rejuvenate the Beach Road district. It will provide a new epicentre for this side of Singapore’s Central Business District (CBD). Nestled within the City Hall office micromarket, Guoco Midtown will be the final critical piece of jigsaw that completes the transformation of the area. The development has a total...

Prices of resale flats for the third quarter of this year rose 0.1 per cent from the second quarter, according to flash estimates released by the Housing and Development Board (HDB) on Tuesday (Oct 1). The resale price index - which provides information on the general price movements in the resale public housing market - is estimated to have jumped slightly from 130.8 to 130.9, following four...

Guocoland will open the sale and viewing of units for its 99-year leasehold Midtown Bay on Oct 5, with prices starting from S$1.38 million for a one-bedroom unit and S$2.08 million for a two-bedder. This works out to an estimated starting price of S$3,000 to S$3,400 per square foot (psf) for one-bedroom homes and starting price of S$2,800 psf for two-bedroom units, according to Lee Nai Jia, senior...

Boustead Projects Limited's 51 per cent-owned JV company, BP-TPM LLP, is buying IBM’s manufacturing facility in Tampines for S$77.4 million. Completed in 2010, the three-storey light industrial building has a gross floor area of 430,999 square feet. Located at 6 Tampines Industrial Avenue 5, the IBM Singapore Technology Park is currently leased to IBM by landlord JTC Corp for a 30-year period that...

The owners of Cascadale condominium in Changi are making a second attempt at an en bloc sale at the same reserve price of S$270 million, market agent JLL said on Tuesday. The 25-year-old freehold property in District 16 was first launched for collective sale in May this year. If the sale is successful, the owners of the 134-unit property will stand to receive between S$1.4 million and S$4 million...

Property developer GuocoLand will be launching residential project Midtown Bay, in Beach Road near Bugis MRT station, on Saturday (Oct 5), with one-bedroom units starting from S$1.38 million. The 99-year leasehold project is the residential component of Guoco Midtown, a S$2.4 billion mixed use development that includes a 30-storey office building, shops and food and beverage outlets for the...