International and local companies have shown 'substantial' interest in the new Changi race track, the Singapore Sports Council (SSC) said yesterday when unveiling the Request For Proposal (RFP) to build and manage the project. The plan is for a permanent circuit on 41 hectares of land at the eastern tip of Singapore. Also on the site - next to Changi Exhibition Centre - will be an entertainment complex,...
Developer Far East Organisation said its new private residential project Mi Casa at Choa Chu Kang has seen brisk sales during a preview over the weekend. Far East said 97 of the 123 units released were snapped up even before the development was officially launched. Mi Casa – Spanish for "My Home" – comprises a total of 457 units at an average price of S$625 per square foot. Far East Organisation...
The Park Hotel Group hospitality chain is revamping its hotel property along Singapore's prime shopping district. It announced on Monday that the Park Hotel Orchard will be rebranded as the Grand Park Orchard after major renovation work. The hotel will be closed from April 1 this year till the second quarter of 2010. Park Hotel Group said the new five-star property will become the flagship of its...
An ultra-luxurious hotel has opened its doors in Singapore amidst dwindling tourist numbers here and in the region. Capella Singapore, located on Sentosa island, welcomed its first guests on Monday. The S$400-million hotel is set within more than 12 hectares of sprawling land and lush greenery. It boasts 111 rooms, including 32 private villas – the first of its kind on Sentosa which come with their own...
By end-2011, Singaporeans will enjoy motor racing in the country's first permanent track. The Singapore Sports Council (SSC) has called for tenders or a Request For Proposal for the Changi Motorsports Hub. The 3.5-kilometre-long track will sit on a 41-hectare site, which is about the size of 58 football fields. It will face the sea, near Singapore's Changi Airport on the eastern end of the island. The...
Housing budgets at the top end have been slashed, but limited supply make these black-and-white bungalows built during the British colonial periods in the early 1900s coveted lifestyle homes for expatriate families JUST LAST MONDAY, Brandon and Gabrielle Batagol, together with their three young children, Zac, nine, Mathilde, seven, and Brigitte, four, moved into their brand-new black-and-white bungalow on...
The credit crunch and a soft property market are putting the squeeze on Singapore property trusts, according to analysts. They expect more cash-strapped REITs to seek funding through rights issues in the coming months. Analysts added that some three to four smaller players may end up being absorbed by their bigger counterparts. There are currently 21 REITs listed on the Singapore Exchange (SGX). Banks...
CapitaMall Trust said Friday its rights issue was 1.16 times oversubscribed. Under the exercise first announced in February, the real estate investment trust offered nine rights for every 10 existing units held at S$0.82 each. CMT plans to use a major portion of the proceeds to repay borrowings totalling S$956.2 million due this year. The offer closed on Wednesday. CapitaMall Trust is a unit of real...
The number of repossessed properties put up for sale by banks and financial institutions in Singapore rose by 18 per cent in the first three months of 2009 compared to the previous quarter. A total of 53 properties were repossessed in the first quarter of 2009, up from 45 in the previous quarter. Real estate consultancy firm Colliers International said its findings indicate a continued trend in mortgagee...
Twenty-four stallholders at Chinatown's night market along Pagoda Street have been asked to move. But some are unhappy, saying they would rather stay put. Their relocation is part of efforts by the Singapore Tourism Board to redevelop the area. Stallholders were initially given until the end of March to move out, but now they have until the end of next month. Negotiations between the Chinatown Business...