CapitaLand's wholly-owned lodging business unit, The Ascott Limited, has launched a "work in residence" initiative at participating properties worldwide, to transform selected apartments into work suites. To extend its service offerings to guests, Ascott is also providing its space-as-a-service by exploring with multinational corporations, entrepreneurs and small-medium enterprises different...
Land tenders for three 99-year leasehold housing sites comprising two adjoining private housing sites in Canberra Drive in Singapore's north and an executive condominium or EC site along Fernvale Lane in the Sengkang area closed on Tuesday. Canberra Drive (Parcel A) drew five bids, with the highest offer of nearly S$129.20 million or about S$644 per square foot per plot ratio (psf ppr) from Oasis...
Developers moved 618 private homes in January this year, up 14.9 per cent from the 538 units they sold in the previous month. The latest figure is also 41.4 per cent higher than the 437 units developers sold in January 2019. The above figures - which exclude executive condominium (EC) units - were released by the Urban Redevelopment Authority on Monday based on its survey of licensed housing...
Some Singapore-listed housing developers can now apply to be exempted from the Qualifying Certificate (QC) rules imposed on foreign housing developers, provided they have a "substantial connection to Singapore". This will spare them from having to pay hefty extension charges if they cannot meet stipulated deadlines to complete developing their projects and selling all the units. Developers that stand...
Real estate behemoth CapitaLand has won the tender to manage Bugis Village and Bugis Street for up to a decade, it said in a bourse filing on Thursday. It will take over the integrated management of the area on April 1, 2020 with an initial three-year tenancy, which may be renewed for two further terms of three years each and a final tenancy term not extending beyond March 30, 2030. Existing tenants...
United Engineers (UE) on Friday morning said it has lost its free float and will be delisted after the close of Chinese developer Yanlord Land Group's mandatory conditional cash offer. As at 5pm on Thursday, Yanlord owned, controlled or has agreed to acquire about 90.27 per cent of UE's ordinary shares. That means that less than 10 per cent of UE shares are now held by the public. The...
CapitaLand Limited, City Developments Limited (CDL) and Ascott Residence Trust (Ascott Reit) on Thursday said they will together redevelop the Liang Court site. The site comprises Liang Court mall, midscale hotel Novotel Singapore Clarke Quay and serviced residence Somerset Liang Court Singapore. This comes as CDL Hospitality Trusts (CDLHT) has proposed to sell its entire stake in Novotel Singapore...
Yanlord Land Group has raised its cash offer for United Engineers (UE) to S$2.70 per share, after scooping up 39.2 million shares or 6.15 per cent of UE in married trades done at the same price just before noon on Tuesday. The Business Times understands that the sellers are likely to be multiple accounts aggregated by a broker. Oxley Holdings, the only other shareholder in UE with a sizeable block of...
Bridge+, an extension of CapitaLand's business space portfolio, on Wednesday said it will set up a fintech hub that will play host to Singapore's fintech community, with the group's upcoming development at 79 Robinson Road in the Republic's central business district (CBD). Slated to open in the third quarter next year, Bridge+ 79 Robinson Road will "facilitate collaborations through knowledge sharing...
China-based property developer Yanlord Land Group on Friday morning launched fresh mandatory offers for United Engineers (UE), in a deal valuing the latter at S$1.66 billion. Yanlord's wholly-owned subsidiary Yanlord Investment (Singapore) (YIS) is offering to acquire the ordinary and preference shares in the property, engineering and construction group at S$2.60 apiece in cash. This is the same as...
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