K-REIT Asia, a real estate investment trust sponsored by Keppel Land, reported a 37.3 per cent on-year jump in distribution income for the first quarter on positive rental reversions. Distribution income for the three months ended 31 March totalled some S$15.7 million. K-REIT attributed the increase to higher rentals achieved for new and renewed leases. For the first quarter, shareholders can expect...
Developers interested in purchasing a 2.5 hectare industrial development site at Woodlands can now apply to the Urban Redevelopment Authority (URA) for it to be put up for tender. The URA has released the detailed sale conditions for the reserve list site, which is bordered by Woodlands Avenue 4 and Woodlands Industrial Park E5. The 60-year lease site has a gross plot ratio of 2.5, with a maximum...
Singapore's second integrated resort operator, Resorts World at Sentosa, has refuted accusations that more than half of the 10,000 jobs available would go to foreigners. Its management says Singaporeans remain its top priority when hiring, and it is receiving up to a thousand applications a day. The comments were made at the media preview of four new hotels that will be opening on the island next...
Singapore will see a glut of hotel and office spaces when projects at the Marina Bay Downtown come on stream in the months ahead, but developers say they are not worried. Not only is the Marina Bay Sands Integrated Resort on track for completion, the Double Helix Bridge - which links visitors from the Bayfront to Marina Centre - will also be ready by year-end. Across the waters at the Fullerton heritage...
Some private property developers are thinking of turning their residential projects into serviced apartments. Ascott Hospitality said it has been approached by some developers recently, but declined to say which were considering such a move. Experts, however, said such conversions are unlikely to gain popularity in Singapore anytime soon as there are many factors against it. Private home sales may have...
Almost all of the 180 units for sale at The Arte at Thomson have been sold since the project's official launch earlier this month. A total of 170 units has already changed hands, with 20 sold over the weekend for some S$30 million. More than 1,000 visitors made their way to the 336-unit, freehold development's showroom last weekend. Developer City Developments sees this as evidence that buyers have...
Evergro Properties saw net profit more than triple to S$389,000 in the first quarter of 2009, compared to S$101,000 a year ago. The increase was largely due to a 21.5 per cent jump in interest earned from bank and other deposits amounting to S$134,000 in the three months ended March 31. Evergro, which is a unit of Keppel Land, said revenue fell by 39.2 per cent on-quarter to S$5.7 million in the first...
APPLICATIONS were only supposed to open tomorrow - but the overwhelming response to the Housing and Development Board's (HDB) latest housing project in Simei under the Design, Build and Sell Scheme (DBSS), prompted developer Sim Lian Group to accept bookings on Saturday. On Friday, over a hundred people began queuing for the flats at Parc Lumiere, after Sim Lian said bookings would be accepted on a...
Inspired by the passionate Italian culture, FIORENZA is a place of attraction in its own right. With an avant-garde architecture zestfully coloured in sunny yellow and crimson red, the 28-unit private development stands out, clearly, as an icon of modern living at Florence Road. Vivacious, sensuous and a little mischievous, this is a home that welcomes you to indulge in bold artistic tastes, unrestrained...
The Housing and Development Board (HDB) has received 178 applications since the Lease Buyback Scheme was launched last month. It is a scheme which helps seniors monetise their flats. With the Lease Buyback Scheme, these seniors will now be able to receive a monthly payout of a few hundred dollars and continue living in their flats for 30 years after they sign up. The scheme helps cash-poor, asset-rich...