Location: Simei Street 4 (District 18) Tenure: Leasehold 99 years w.e.f 4 April 2008 Year of Completion: 2012 Site Area: 32,210.50 sqm Total Units: 646 Unit Types: 1 bedroom (538 - 635sqft) 2 bedroom (915 - 1335sqft) 2 bedroom + study (1001 - 1765sqft) 3 bedroom (1259 - 1765sqft) 3 bedroom + study (1830 - 2142sqft) 4 bedroom (1550 - 2379sqft) Duplex (3606 - 3703sf) Penthouse (2982 - 3488sqft) Ancillary...
Inspired by sweeping views of vast greenery and blue skies, Ascentia Sky at the fringe of good class bungalows in Tanglin defines a new lifestyle for aspiring modern cosmopolites. A vision of a bold and contemporary 45-storey development, expressed by imagery of glass boxes and gardens suspended poetically amidst the sky, creates an eco-habitat appearance in harmony with the tranquil surroundings....
The government has decided against relaxing tax exemption rules for real estate investment trusts or REITs. Senior Minister of State for Finance Lim Hwee Hua said the minimum payout ratio for REITs will not be cut. To qualify for the tax incentives, REITs are curently required to distribute at least 90 per cent of their taxable income to unit holders. If they do so, they are exempted from paying...
Singapore will press on with development plans for the Seletar Aerospace Park and grow the research and development (R&D) efforts for the aerospace industry. The aviation industry has taken a nosedive amid turbulent economic conditions. But the Economic Development Board (EDB) believes that long-term prospects remain positive. President of the Association of Aerospace Industries of Singapore,...
A silver silhouette stands out at the Shanghai Road address. One that is sleek and cool, smooth and fluid, solitary and outstanding. A single tower rises above its surroundings draped in quicksilver. This is THE MERCURY – where everything and everybody stops to enjoy the joys of life. Beyond the famed Orchard Road and before the iconic Singapore River, The Mercury stands out as a representation of the...
The foreign workers' dormitory in Serangoon Gardens could begin operations in August, says the area's MP, Mrs Lim Hwee Hua. Last September, the proposal to have a foreign workers' dormitory built in Serangoon Gardens resulted in a heated debate and protest from the residents. A website was set up to inform residents on the dorm's progress. In a letter that was put up on the website, Mrs Lim, who is also...
Resorts World at Sentosa will top out its first hotel, Maxims Tower, by the end of this month. The structural completion of the 11-storey hotel marks yet another major milestone in the development of the integrated resort, which remains on track for a soft opening in the first quarter of 2010. Maxims Tower will open with three other hotels - Hotel Michael, Festive Hotel and Hard Rock Hotel - as well as...
Genting International is warning that its Sentosa integrated resort development could cost almost S$600m more than expected. Its total investment is expected to increase from S$6 billion to S$6.59 billion. And the firm warned that these hefty opening costs would have a "significant" impact on its earnings this year. Genting said that over the past year, changes have been made to the design and...
Reduce risk of bargains turning into legal liabilities IN THE current recession, people with ready cash are looking to pick up good bargains. However, tread with care. Reported cases that I took on over the years showed that property investors unwittingly fell into costly legal tussles because they failed to take the necessary safeguards before putting down their money. What seem like simple and...
An independent assessor has thrown a spanner in the works in UOL Group's takeover bid for United Industrial Corp. After evaluating the offer, Dutch bank ING said UOL's offer price for UIC shares is "not fair". On January 14, UOL had proposed to pay S$1.20 for each UIC share. This represents a nine per cent premium over UIC's last traded price prior to the announcement. The bid for UIC revived long-time...