The government has raised development charge (DC) rates for commercial use by 1.7 per cent on average for the period Sept 1, 2019 to Feb 29, 2020. This is a slower rate of increase than the 9.8 per cent hike for the last revision that took effect March 1 this year. DC rates for non-landed residential use have been trimmed by 0.3 per cent on average. This follows the 5.5 per cent cut in...

A new asset class may soon be added to the Singapore Reit (S-Reit) universe later this year: grocery-anchored malls. They may not seem exciting but property trusts anchored by these bread and butter businesses are seen as safe havens amid the challenges retailers are facing today. Proponents of the asset class, which is a norm in the United States and Britain, tout the resilience of necessity...

Plans are in the works to conserve three buildings at the site of the former Singapore Chinese Girls' School (SCGS) in Orchard Road, said the Urban Redevelopment Authority (URA) on Friday. It said it has proposed their protection and that the buildings will be adapted to house new cultural and lifestyle uses, in line with the Government's plans to strengthen and differentiate Orchard Road with unique...

Investors from Singapore spent an eye-catching US$5.7 billion in offshore commercial real estate investments in the first half this year, ranking it as the second-largest source of Asian outbound capital just after South Korea, a latest report by real estate agency CBRE shows. For the first six months this year, South Korean investors chalked up US$6.8 billion worth of overseas transactions. Year on...

A residential site at Jalan Bunga Rampai off Bartley Road has been launched for sale by public tender under the confirmed list of the second half of the 2019 Government Land Sales (GLS) Programme, the Urban Redevelopment Authority announced on Thursday. The development with a 99-year lease occupies a site area of 4,666.6 square metres (sq m), and a maximum gross floor area of 9,800 sq m. Tricia...

A prime District 10 freehold condominium, Beaufort On Nassim, has been launched for collective sale by tender at a minimum expected price of S$222.68 million, real estate services firm Savills Singapore announced on Wednesday. The price tag translates to a unit land rate of S$3,508 per square foot per plot ratio (psf ppr). Completed in 2008, the four-storey development on 12 Nassim Road occupies a...

The public preview of Avenue South Residence will commence this Friday, with 300 units to be offered for sale at the initial launch on Sept 7. The apartment units are spread across two 56-storey towers and five conserved four-storey apartment blocks. Units comprise one-, two-, three- and four-bedroom units ranging from 474 square feet (sq ft) to 1,668 sq ft. In addition, the development will offer close...

The collective sale of City Towers in Bukit Timah has finally been completed at its fourth en bloc attempt and after a pair of sibling owners initially attempted to block the deal. Sale of the District 10 freehold site for S$401.9 million to a unit linked to Hong Kong tycoon Li Ka-shing was completed on Aug 27, real estate firm Colliers International announced in a press statement on...

Sporting goods retailer Decathlon will open a new store at The Centrepoint next year, the mall's owner announced in a media release on Tuesday (Aug 27). Frasers Property Singapore said Decathlon will be the new anchor tenant of the Orchard Road shopping centre. The outlet is expected to open in the first half of 2020. This follows news that department store Metro, the current anchor tenant at The...

Property developer Bukit Sembawang Estates Limited 999-year leasehold landed development Luxus Hills has released 32 out of 78 units for sale. Public preview will begin this Friday. Having sold seven units to date, the four-storey landed homes of Luxus Hills start from around S$3.058 million to S$4.2 million and has a starting per square foot (psf) price of around S$1,894. Located within Seletar...