One of Singapore's biggest real estate agencies, PropNex Realty, is firing more than one-third of its agents. According to its CEO, the move is aimed at cleaning up the profession. PropNex is firing those who have been with them for over a year, but have yet to submit a single transaction. About 2,800 agents currently on its list will be affected. The agents were first given a choice to remain as...
With half its shopping space snapped up, it is on track to reach target for launch RETAILERS have already bagged 50 per cent of shopping space at ION Orchard, a highly-anticipated development slated to open beside Orchard MRT station next year. As for the remaining half of the 663,000 square foot of new retail space, landlord Orchard Turn Developments says it is “in negotiations”. Secured tenants...
AUSTRALIA has become one of the world’s most ardent adopters of green real estate practices, thanks to the demand of best building practices from staging the 2000 Sydney Olympics and job seekers demanding eco-friendly work environments. Here in Singapore, multinational corporations have been leading the eco-charge. To help pave the way, property consultants Colliers International has launched...
Just a stone’s throw away from the Botanic Gardens, these 2 Bungalows and Semi Detached homes are sited ideally in suburbia just outside town yet within walking distances to numerous amenities, prestigious schools and MRT station. Each of these homes are meticulously designed and comes with it own private lap pool and encapsulated in lush landscaped greenery. Come home to tranquil reflecting pools...
Niche property developer Soilbuild has put in the top bid of over S$13.6 million for an industrial site at Woodlands Industrial Park. This works out to S$30 per square foot per plot ratio. The site has a 60-year lease and can potentially yield a gross floor area of about 452,000 square feet of factory space. Consultants Colliers International said the top bid is in line with price expectations for sites...
The government has decided to postpone an additional S$1.7 billion worth of public sector projects to further ease pressure on construction resources in Singapore. The government had earlier announced that it would postpone about S$3 billion worth of public sector projects to after 2009. With the latest decision, the government is deferring a total of about S$4.7 billion worth of public sector...
Asia is likely to register a sharp slowdown in hotel investments across the region this year, according to Jones Lang LaSalle Hotels. The hotel investment advisory company said hotel sales in Asia may drop by as much as 75 per cent, compared to last year. Some US$11 billion worth of deals were transacted across Asia in the hotel investment market last year. But Jones Lang LaSalle has forecast that hotel...
First Real Estate Investment Trust said it will distribute 1.91 cents per unit for its fiscal second quarter, up about 16 per cent from the same period a year ago. All in, First REIT will distribute S$5.2 million to unitholders. The trust said its net property income grew about 15 per cent in the second quarter to about S$7.5 million. Gross revenue also rose 15 per cent to S$7.5 million. The trust said...
Daringly designed for urbanities who prefer not to toe the line. Ultra-stylish “bungalows in the sky”. Angled for the best views. Look out to the garden on your doorstep. With security coded lift access to each level, you can enjoy the sky garden in front of your home almost in complete privacy. An exceedingly exclusive lifestyle in prestigious Balmoral, among distinguished company in a neighbourhood...
More factors to consider than just higher bid price I REFER to “Time to relook en bloc rules?” (Weekend Today, July 19-20). On the contrary to what the letter-writer said, there are already enough en bloc rules. Without being privy to certain information, it is incorrect to infer that the Horizon Towers deal was done in bad faith and the proprietary owners did not get the highest price and were...