A 99-year leasehold condominium located in District 11, Keng Lee Road, off Newton Circus. There will be a tower block with unimpeded views of the City. This development is close to Newton and Novena MRT Station, popular local cuisines at Newton Circus and Orchard Road shopping belt are within close proximity. It is close to popular childcare centres such as Montessori for Children, Eton House Pre-School,...
Developer to roll out Woodlands project on back of solid soft launch A DEVELOPER is rolling out a rare condominium launch in Woodlands this weekend - optimistic that lower-than-planned prices will draw buyers, despite the gloomy market conditions. EL Development is launching the 99-year leasehold, 200-unit Rosewood Suites at $580 per sq ft (psf) on average. The developer held a sneak preview to test the...
The Housing and Development Board (HDB) has launched Punggol Arcadia, a 750-unit project under its Build-To-Order (BTO) system, at the junction of Punggol Place and Punggol Field. Prices for the 120 three-room units range from $181,000 to $211,000 each. The 465 four-room units will cost anywhere from $268,000 to $327,000 each; while the 165 five-room units come with a $356,000 to $416,000 price tag. By...
AMID the weakening property market, City Developments said it will delay selling homes at new projects for now. About 130 units remained unsold among the homes it had already released for sale. At the same time, CDL and its partners in the South Beach development, located downtown, have agreed to delay construction on expectations that building costs will retreat, said the company. Singapore’s...
Economies such as Singapore and Hong Kong have benefited from the global economic boom in the last five years. But their open and exposed economies mean they are also vulnerable to recessionary pressures as the world economy slows down. However, Morgan Stanley said it is not all doom and gloom for Singapore. Experts said the country would be among the first to bounce back once a global recovery takes...
The Housing and Development Board (HDB) has launched Punggol Arcadia, a 750-unit project under its Build-To-Order (BTO) system. The project is at the junction of Punggol Place and Punggol Field. Buyers can choose from 3-room, 4-room and 5-room units. The price of these flats range from S$181,000 for a 3-room unit to S$416,000 for a 5-room unit. 4-room units cost between S$268,000 and S$327,000. This is...
Property firm City Developments (CityDev) has posted net profits of S$150.8 million for the third quarter of this year – down 11 per cent from last year. Revenue for the period came down 13.6 per cent to hit S$688 million. The firm said it would hold back the launch of new residential projects for the time being, in light of the subdued property market and global economic uncertainty. It has also...
Banyan Tree Holdings has seen its third quarter earnings hit by political unrest in Thailand which affected its operations there. The resort developer and manager posted a 78 per cent on-year decline in net profit to S$14 million for the first nine months of the year to September. In the third quarter, the company reported a net loss of S$4.9 million compared to net profits of S$49.1 million last...
INVESTORS here now have the opportunity to cash in on distressed properties in the United States. Yesterday, property investment group IP Global said it would be the first to offer such properties for sale, through its Singapore real estate partner Adhome Realty. The first development on the block is a downtown Los Angeles residential project at prices that are, on average, 30 per cent lower than before...
Impact of any delay likely to be greater in luxury segment THE uncertainty surrounding the two integrated resorts projects — in particular, the Marina Bay Sands — is unsettling already fragile sentiment in the property market. After all, the prospects for economic benefits from the IRs have been positive for the market. But recent developments and positive announcements from the operators have eased...