Developers did not have a very merry Christmas last month, after sales of new private homes plunged 50 per cent in December from the previous month. Excluding executive condominiums (ECs), developers sold 602 units last month, compared with 1,201 units in November, data released on Tuesday (Jan 15) by the Urban Redevelopment Authority (URA) showed. Including ECs, 605 private homes were sold, down...

Shopee, the e-commerce arm of Singapore-based, New York-listed Sea Ltd, is understood to have fully leased a new business park development at 5 Science Park Drive. The six-storey project, with frontage along Ayer Rajah Expressway, will have about 240,000 sq ft net lettable area. It is expected to receive Temporary Occupation Permit (TOP) soon. Located near Kent Ridge MRT Station, the project is a...

Tuan Sing Holdings announced on Monday that it has accepted a tender bid of S$48.5 million for all of its majority-owned Century Warehouse property. The property is an eight-storey freehold-industrial warehouse with a basement car park. It comprises 35 strata units with a total strata area of 56,539 square feet located in Pasir Panjang Road. Tuan Sing’s subsidiary, Asiaview Properties, owns 31 of...

Singapore's CapitaLand is buying the owner of a clutch of real estate investment trusts from state investor Temasek in a deal valued at S$11 billion that the developer said will create the largest diversified property group in Asia. CapitaLand will buy the holding companies of the business of the Ascendas-Singbridge Group, which manages Ascendas Real Estate Investment Trust, Ascendas India Trust and...

Oxley Holdings has accepted a letter of intent (LOI) for the purchase of its Mercure and Novotel hotels along Stevens Road for S$950 million, in what market watchers call an urgent attempt by the developer to pare its debt. The Business Times understands that the buyer is Indonesian magnate Tahir. In a late announcement on Thursday, Oxley said the LOI is non-binding and subject to the parties...

Global flexible workspace provider IWG has leased over 20,600 sq ft of space at Capitol Singapore, and will launch its premium co-working space brand No18 there. The co-working space will be the brand’s flagship facility in Asia, and its first location in the region, when it commences operations in September this year. The new space in Singapore will be on the second floor of Capitol Singapore and...

Rents for Singapore condominiums and private apartments reversed course to notch a small decrease in December, while HDB rents rose after dipping in November, according to a report on Wednesday. Flash estimates from real estate portal SRX Property show rents for non-landed private residential properties fell by 0.2 per cent month on month. Year on year, rents last month were 0.1 per cent higher than...

Resale prices of private non-landed homes in Singapore declined last month after rising in November, flash estimates by real estate portal SRX Property on Tuesday showed. Condominiums and private apartment resale prices fell by 0.8 per cent in December from the previous month. This comes after a 0.3 per cent rise in November, slightly higher than the 0.2 per cent increase earlier estimated by...

The iconic Golden Mile Complex, if it finds an en bloc buyer, may be developed as an integrated development with a gross floor area (GFA) of 85,977.5 square metres, the Urban Redevelopment Authority (URA) has advised. This is subject to the conservation of the landmark’s main building. Marketing agent Edmund Tie & Company (ET&Co) said that an outline application has been submitted to retain the...

Prime freehold site HighPoint has been launched for collective sale for S$550 million, joining other District 9 developments jockeying for sale. The property, which was completed in 1974, sits on a cul-de-sac plot of approximately 47,606 sq ft on Mount Elizabeth Road. In the Urban Redevelopment Authority's Masterplan 2014, the site is zoned as "residential" with a height control of up to 36...