PropertyGuru, Asia's leading property portal group, today announced that it has secured a double digit million Singapore dollar strategic investment from ImmobilienScout24, Europe's top property portal group and a subsidiary of global company Deutsche Telekom. This is one of the biggest online deals in Asia this year, and re-enforces the rapidly emerging online media opportunity in South East Asia. The...
business
En-bloc property sales have lost its shine so far this year. A total of nine en-bloc properties have been successfully transacted this year to date. This compares to 29 transactions in the same period last year. Although developers have turned cautious as cooling measures and requirements to build and sell out all the new units in five years start to bite, experts said interest in mixed-use en-bloc...
Real estate investment trusts (REITs) have outperformed the market despite the volatility in the first half of the year. They are also known for their relative resilience amid economic downturns. And industrial REITs appear to hold up better than the rest with total returns of 18 per cent in the first quarter. REITs have outperformed other assets like equities since the start of the year. The benchmark...
Property developer Far East Organization sold 2,200 new homes in Singapore during the first five months of the year. This includes suburban projects such as The Hillier in the northwest and Watertown in the northeast. According to a media report, projects by Far East helped lead the rebound in home sales this year, with Watertown in Punggol accounting for over 50 percent of the 1,872 units sold in...
The Urban Redevelopment Authority (URA) closed the tender for the residential site at Pasir Ris Drive 3 today. The site at Pasir Ris Drive 3 was launched for sale by public tender on 16 April 2012. The site was offered for sale on a 99-year lease. The site area is of 22,317 m2 and the maximum permissible GFA is of 46,867 m2. A total of 5 bids were presented. The highest tenderer is Capital Development...
Sophia Mansions, a freehold development located along Adis Road (District 9), has been launched for sale by tender. The 19-unit, 20-year-old residential development sits on a freehold site with a The land area is approximately 17,545 square feet (sq ft). The marketing agent, Credo Real Estate said the owners are expecting offers in the region of S$42.5 million to S$45 million. This works out to land...
Ascendas Real Estate Investment Trust (A-REIT) has entered into an agreement to sell its property at 6 Pioneer Walk for S$32 million to Chasen Logistics Services, a subsidiary of Chasen Holdings. The sale price is at a 42 per cent premium over the original purchase price of S$22.5 million in 2007. A-REIT's manager, Ascendas Funds Management, said in a statement that the divestment is in-line with its...
Singapore, China and India posted the biggest increases in millionaires last year as the Asia-Pacific region countered a decline in wealth in western Europe and the United States, said Boston Consulting Group. Millionaire households in Singapore rose 14 per cent to 188,000 while those in China climbed 16 per cent to 1.43 million and India saw a 21-per-cent increase to 162,000, the firm said in a report...
The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Boon Lay Way (Jurong Gateway) to MCL Land Limited. MCL Land Limited submitted the highest bid in the tender for the site at S$369.388 million (S$7,589.64 per square meter of GFA). The next highest was by EL Development Pte Ltd at $369.1 million. The 11,588 m2 site was offered for sale on a 99-year lease. The...
Prices of small apartments measuring up to 506 sq ft dipped slightly by 1.2 percent in April, according to the Singapore Residential Price Index (SRPI) flash estimate published by the Institute of Real Estate Studies at NUS. This is in sharp contrast to March, when the SRPI sub-index for small apartments saw a notable 2.7 percent rise. April’s overall SRPI inched up 0.8 percent from the previous...