Katong Mall is up for collective sale by tender. Under the Master Plan, the 99-year leasehold 78,158 square foot commercial development site has a gross plot ratio of up to 3.6, with an allowable building height subject to evaluation. It has the potential to be redeveloped into a commercial or retail development with a gross floor area (GFA) of up to 281,369 square feet, subject to relevant authorities'...

The Urban Redevelopment Authority (URA) has closed the tender for a 53,200-square metre residential site at Choa Chu Kang Drive. The highest offer for the site was for S$116 million, which translates to S$203 per square foot. The offer was submitted by Tian Hock Properties. Li Hiaw Ho, executive director of CBRE Research said given the top bid of S$203 per square foot and an estimated breakeven cost of...

Mapletree Investment, the real estate branch of Singapore investment firm Temasek, has signed an agreement with China's Guangzhou Southern-Donald Technology to build seven blocks of high-end service apartments and a retail mall. Mapletree will hold 80 per cent of the US$320 million project. The development in Nanhai District of Foshan City, Guangdong Province, will be the third investment of the newly...

National Development Minister Mah Bow Tan has unveiled some features of the Malay Village facelift under the URA Draft Master Plan 2008. In outlining future plans for the Paya Lebar area in Parliament on Monday, the minister said a substantial portion of the Malay Village site will be reserved for a new civic building. It will house a variety of amenities, including a Community Club, the Community...

Kallang and Paya Lebar will be developed into new commercial hubs, just like the Jurong Lake District. This is part of the government's Draft Master Plan, which charts land use over the next 10 to 15 years. Marina Bay and the city centre will continue to be the key commercial node in Singapore. New growth areas like Tanjong Pagar, Beach Road and the Ophir-Rochor corridor will also be developed. However,...

Industry players are upbeat about the plans for two new commercial hubs, noting that both Kallang and Paya Lebar have great potential for growth, given their close proximity to the city. However, they said the timing of the various projects will have to be calibrated carefully, so as not to place additional strain on the construction sector. In the next 15 years, Singapore will have three new commercial...

Nestled in the heart of Singapore’s most desirable neighbourhood, comes Singapore’s most coveted address – Nassim Park Residences. The development is an unique collaboration between three internationally acclaimed creative minds: Singapore-based architect Chan Soo Khian, Japanese landscape architect Shunmyo Masuno, and French interior designer Christian Liaigre. The result in nothing less than...

Draft Master Plan 2008: Main Website: http://www.ura.gov.sg/DMP2008/home.htm Growth Areas: Jurong Lake District: http://www.ura.gov.sg/DMP2008/jurong_lake_district.htm City Centre: http://www.ura.gov.sg/DMP2008/city_centre.htm Kallang Riverside: http://www.ura.gov.sg/DMP2008/kallang_riverside.htm Paya Lebar Central: http://www.ura.gov.sg/DMP2008/paya_lebar.htm Regional Highlights: Central Region:...

Singapore’s economy expanded at a slower-than-expected annualised rate of 14.6 per cent in the first quarter from the fourth in a seasonally adjusted and annualised basis. In a statement, the Ministry of Trade and Industry (MTI) said that GDP grew by 6.7 per cent year-on-year in the first quarter of 2008, up from the 5.4 per cent increase in the preceding quarter. Manufacturing expanded 12.4 per cent...

Singapore's annual inflation rate rose to a new 26-year high of 7.5 percent in April as food, housing and transportation costs soared and is now a risk to the economy, the government said on Friday. Food prices alone rose 8.5 percent, transportation and communication were 7.0 percent higher and housing costs became 11.8 percent more expensive, the statistics department said. It said April's inflation...