Property developers will launch some 8,000 new private homes over the next six months, according to analysts' estimates. While there are small risks of oversupply in the horizon, market watchers told Channel NewsAsia that private property prices should remain stable this year. A consortium comprising Hong Leong Group, City Developments and TID Residential won the tender for the site at Mount Vernon in...
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Residential property purchases made by foreigners from countries exempted from ABSD (additional buyer’s stamp duty) rose in 1H2012, according to data released by CBRE. These foreign buyers, including permanent residents (PRs), hail from the US, Iceland, Liechtenstein, Switzerland and Norway – countries that have free trade agreements with Singapore. CBRE noted that the group accounted for 3.1 percent...
Cambridge Industrial Trust is acquiring the property at 30 Teban Gardens Crescent for S$41m from Eurosports Auto Pte Ltd. The property consists of (a) a 3-storey industrial building with a single storey factory cum car showroom and (b) a brand new annex block of a 2-storey showroom with ancillary office to be completed by the vendor. The total gross floor area of property to be acquired is expected to...
Since 2009, private homeowners in Singapore have greatly benefitted from the recovery in the property market. A report by Square Foot Research revealed that owners received at least S$20.3 billion in gross profit since late 2009 based on caveats data. This explains the strong sales figure of S$60.1 billion recorded during the period, noted the report. Square Foot added that actual figures could be a lot...
Landmark Tower, a prime residential development located at Chin Swee Road on the fringe of the central business district (CBD) has been launched for public tender. Zoned for residential usage under the 2008 Master Plan, the site measures approximately 60,821 sq ft and has a plot ratio of about 4.014. It will provide the developer an opportunity to design a project with an inner city living concept. The...
The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Pheng Geck Avenue to Santarli Corporation Pte Ltd. The company submitted the highest bid of S$114.8 million for the 4,850 square metre site. The site has a maximum permissible gross floor area of 16,977 square metres. This translates the top bid to about S$6,762 per square metre, or S$628.23 per square foot per plot...
The Housing & Development Board (HDB) was on Tuesday conferred the Singapore Sustainability Award 2012 Green Technology Award. The award recognises HDB's contributions to drive sustainable development efforts in its towns and estates as a responsible master planner and the largest developer of housing in Singapore. CEO of HDB Dr Cheong Koon Hean said: "HDB is honoured to be the only public sector...
With persistently high property prices in Singapore, Singapore real estate investment trust (REITS) are focusing mainly on asset enhancements to boost their growth. Any acquisitions that they are looking at will have to be yield accretive. When Causeway Point completes its refurbishment works by this December, its occupancy rate is expected to improve to 100 per cent. The heartland mall in Woodlands is...
A joint venture comprising Heeton Holdings, KSH Holdings and Zap Piling has acquired a site at Whitley Road for S$31 million. The 21,900 square feet site is zoned for two-storey mixed landed residential units. The District 11 site - which is freehold - is currently occupied by a single-storey bungalow and leased out to a kindergarten. According to a statement released by the group, the site has the...
CapitaMalls Asia, the shopping mall arm of CapitaLand, has set up a US$1 billion private equity fund to invest in malls in China. According to a filing with the Singapore Exchange, CapitaMalls Asia said the new fund - CapitaMalls China Development Fund III - has a fund life of eight years. CapitaMalls will hold a 50 per cent stake in the fund amounting to US$500 million, with institutional investors from...