The Urban Redevelopment Authority (URA) launched the food & beverage site at Punggol Point for sale by public tender today. Punggol Point has been envisioned as a rustic coastal recreation destination with activities and attractions to enhance its unique waterfront location. With the opening of Punggol Promenade, Punggol Point Park and the North-Eastern Park Connector Network, Punggol Point today is a...
business
GLP J-REIT, a real estate investment trust set up by Singapore's Global Logistic Properties (GLP), will sell as much as ¥111 billion ($1.6 billion) worth of shares in its initial public offering in Japan, according to a regulatory filing yesterday. GLP, one of the world's largest warehouse operators, said last month it would sell shares in the REIT, which has 30 properties valued at US$2.6 billion (S$3.2...
Mapletree Commercial Trust said yesterday it agreed to buy Mapletree Anson for S$680 million from a wholly-owned unit of its sponsor Mapletree Investments. Mapletree Anson, is a 19-storey premium office building in the CBD, with a 99-year lease beginning from October 2007. It has a gross floor area of 383,812 sq ft and net lettable area of 331,854 sq ft. Source : Today - 4 Dec...
The signs are clear for all to see: Developers' appetite for sites has rebounded strongly. In addition to the land parcels made available on the Confirmed List of the Government Land Sales programme, more sites have been triggered from the Reserve List in recent months. Under the Reserve List, the tenders will only be launched when a developer submits an application committing to bid at a minimum price...
A residential site at Bishan Street 14 has attracted nine bids. The top bid of S$505.1 million came from Allamanda Residential Development, a wholly-owned subsidiary of property developer CapitaLand. That is about 3.1 per cent higher than the second bid jointly placed by Singland Homes, UOL Venture Investments, and ORIX Investment and Management. Analysts had expected CapitaLand to submit a strong bid...
Investment company Haiyi Holdings on Tuesday said it would be making a mandatory unconditional cash offer for all of the shares in property developer Singxpress Land after a conversion of its perpetual preference shares into ordinary equity would result in its owning 62.2 per cent of the target company. But the offer by Haiyi of S$0.0118 cent per share offer is 21.3 per cent below the last transacted...
Far East Orchard - a unit of Far East Organization, Singapore's largest privately held developer by assets - said on Monday it planned to buy Straits Trading Co's hospitality management business and stakes in the company's hotel assets, Dow Jones Newswires reported. Far East Orchard said it signed a non-binding memorandum of understanding with Straits Trading for the proposal, which also involves...
The Urban Redevelopment Authority (URA) has awarded the tender for the hotel site at Jurong Town Hall Road to Tamerton Pte. Ltd. The firm submitted the highest bid of S$238.2 million, which translates to S$12,565.28 per square metre of gross floor area. Tender for the hotel site was launched on 19 September 2012 and closed on 20 November 2012. The land parcel was offered for sale on a 99-year lease term....
Despite its name, there is nothing small about the Minor Group, which plans to attract Singaporeans to invest in Thailand's luxury property sector as well as expand its presence in Singapore. With gross revenues of over S$1 billion, Minor is one of Thailand's largest hotels and resorts operators with over 70 properties, and also one of the country's largest fast-food operators, with over 1,200 outlets...
The Urban Redevelopment Authority (URA) received 23 bids at the close of tender for the residential site at Jalan Jurong Kechil on Thursday. Property consultants said this is the highest number of bids received since the 32 bids submitted in the tender for the Westwood Avenue residential site that closed in December 2009. World Class Developments (North) Pte Ltd - a subsidiary of SGX-listed firm Aspial...