Hotel and serviced residences operator Far East Hospitality said on Wednesday (Apr 17) it is expanding into Vietnam, with two boutique hotels set to open in Ho Chi Minh City by the end of the year. The company currently operates 90 hotels and serviced residences in seven countries, including in Australia, Denmark, Germany, Hungary, Malaysia, New Zealand and Singapore. Some of its brands include Oasia,...

A new mixed-use development in the Beach Road district, Guoco Midtown, will offer 200 residential units and 770,000 sq ft of office space when it is completed in the first half of 2022. There will also be more than 32,000 sq ft of retail space, which spans two storeys, in a development that is aimed at rejuvenating the district. Unveiling the concept and design of Guoco Midtown on Monday (Apr 22),...

City Developments (CDL) tycoon Kwek Leng Beng's family has bought two units at luxury condo Boulevard 88 for about S$14.1 million. Mr Kwek's nephew, Kwek Eik Sheng, who is group chief strategy officer at CDL, bought a ninth-storey unit for S$4.34 million. The CDL boss' spouse and son also purchased a unit on the 18th floor for S$9.8 million, according to SGX filings on Monday night. The freehold...

Perennial Real Estate Holdings (Perennial) and its consortium of investors, including Singapore Press Holdings (SPH), are selling their stakes in Chinatown Point Mall for S$520 million in total, the listed companies announced on Monday morning. This includes the divestment of their entire interests in the retail mall, and four strata office units in Chinatown Point, an integrated development located in...

Issues with tenants are "unavoidable" but are unlikely to concern real estate investment trusts (Reits) as most of them are diversified and have measures in place, said DBS Group amid news of some Reits being briefly impacted after CWT's parent defaulted on a loan agreement. "It's unavoidable, things happen to tenants," said DBS head of capital markets Eng-Kwok Seat Moey on Thursday, when asked how...

SingHaiyi Group and its joint venture (JV) partners - Suntec Reit and Haiyi Holdings - have secured UBS Singapore as its anchor office tenant for their commercial development at 9 Penang Road. Formerly known as Park Mall, the property is undergoing redevelopment which is on track to be completed in the fourth quarter this year, the mainboard-listed developer said on Wednesday. UBS Singapore plans to...

A new integrated tourism development will be set up at the Jurong Lake District by 2026, in line with the Government’s strategy to "spread out its tourism offerings across different parts of Singapore", said Senior Minister of State for Trade and Industry Chee Hong Tat on Tuesday (Apr 16). “With its unique waterfront environment and location adjacent to the new Jurong Lake Gardens and the new...

Real estate investment sales in Singapore fell 52 per cent year on year to $5.3 billion in the first quarter of 2019, on cooling in the latest bout of en-bloc fever and from residential property curbs. This is according to a Colliers International research report released on Tuesday. The corresponding period in 2018 had seen a record level of residential collective sales, Colliers noted. In the...

Kingsford Huray Development has been hit with a no-sale licence for its project at the former Normanton Park site, prohibiting it from selling units before the Temporary Occupation Permit (TOP) is obtained. In June, Kingsford Huray was granted approval for a 1,882-unit project on the site, comprising 1,863 apartments and 19 strata terrace houses. But the Controller of Housing (COH) issued a no-sale...

Developers in Singapore sold 1,054 private homes in March, up from the 455 units they moved in February, and 47 per cent higher than the 716 units they sold in the corresponding month a year ago. Sales in February this year were lower due to the Chinese New Year festive lull and the absence of new launches. The figures - which exclude executive condominium (EC) units - were released by the Urban...