City Developments (CDL) said sales at "The Arte" condominium project have surpassed the 80 per cent mark. The developer said 150 units were snapped up in a Phase 1 launch recently with S$190 million of deals recorded. Most of those sold went for under S$2 million. The 336-unit freehold project at Thomson Road has been priced at an average of S$880 per square foot, with units ranging from 1,055 sq ft for...
Main board listed developer Sim Lian Group will launch its latest development, Parc Lumiere, by walk-in-selection on April 18. Parc Lumiere is a public housing project under the Housing & Development Board's "Design, Build and Sell Scheme" (DBSS). The development which is located near the Simei MRT station will comprise 360 four and five room units. Sim Lian said the average selling price for the...
Some 4,000 people showed up at the launch of "The Peak at Toa Payoh" on Wednesday - a project under the HDB's design, build and sell scheme (DBSS). There were some 100 people lining up outside the development even before it was launched at 8am. Analysts said that's not a bad turnout especially since a premium five-room flat there costs more than S$700,000. The development offers some condominium-style...
The Fernhill is a freehold boutique condominium located along Fernhill Road near Stevens Road and Orange Grove Road. This ultra-exclusive development is limited to a mere 25 units of unparalleled desirability, set within a beautifully envisioned 5-storey residence. Every home within The Fernhill has been designed and refined to optimise the usage of space and light throughout. Full-length windows define...
Sales of private homes dipped 8 per cent in March to 1,220, compared to 1,323 in February. Latest data from the Urban Development Authority (URA) showed that new properties in suburban areas saw strong sales. Double Bay in Simei saw the biggest sales, with 264 units changing hands. Mi Casa in Choa Chu Kang came in second with 101 units sold. Properties located just outside the city also drew strong...
A NEW mall at Serangoon Central has secured 30-per-cent commitment rate for its food and beverage outlets and speciality shops - more than four months after it broke ground. Expected to open by the end of next year, the mall - christened "nex" - will be the biggest mall in north-east Singapore. Anchor tenants include cineplex operator Shaw Organisation, foodcourt operator Food Junction, hypermarket...
Developers interested in bidding for a 12,900 square foot or 0.12-hectare hotel site at Short Street can start putting in their tender. The Urban Redevelopment Authority (URA) launched an eight-week long public tender for the land parcel on Wednesday. This is after the urban planner received an application from a developer to bid for the government land site, which is located within the Bras Basah-Bugis...
Mainboard-listed construction firm Lian Beng has posted a net profit of S$11.4 million for the nine months to February, a 31 per cent rise on-year. Revenue for the period increased by 55 per cent to S$230 million, driven by a rise in construction activity. The firm currently has an order book of S$586 million. But in view of uncertainties in the economic climate, Lian Beng says the next 12 months are...
AFTER five years of rapid growth, Teambuild Construction is in consolidation mode - it's going back to the basics to ride out the downturn. But it's also laying the foundations for the next growth wave when the industry rebounds, by its reckoning, in one or two years. Managing director Seow Seng Wei expects a host of challenges in the coming year, including a drop in order book size and greater...
The Singapore government will not step in to underwrite existing bank loans to property developers for now. This is because loans and other financing options are still available despite the current credit crunch, said National Development Minister Mah Bow Tan in Parliament on Monday. The economy is facing a difficult recession, but Singapore property developers may have been spared the brunt of the...