Local developer Ho Bee Land on Tuesday (Dec 1) said it will buy its sixth office property in London for £99 million (S$210 million), continuing its expansion in the UK. Called Apollo House and Lunar House, the property in Croydon, London comprises one 20-storey office building and one 22-storey building with a total 441,797 square feet of office space. The site is designated in the London Borough of...
developers
Singapore-listed property firm City Developments Limited (CDL), through its subsidiary Reselton Properties Limited, has entered into a contract to acquire the £158 million (S$334.96 million) freehold Stag Brewery land site in Mortlake, southwest London. In a news release on Thursday (Nov 26), CDL said completion of the acquisition is expected to be finalised by the first week of December. Stag Brewery...
CapitaLand, South-east Asia’s biggest developer, says it has withdrawn from negotiations to buy Asia Square Tower 1. The company will continue to explore opportunities that allow it to generate required returns, it said in a statement today (Nov 4). CapitaLand didn’t give a reason for its decision. A consortium of Norway’s sovereign wealth fund and CapitaLand was chosen as the preferred bidder...
Southeast Asia's biggest property developer, CapitaLand, on Wednesday (14 Oct) confirmed news reports that it was involved in talks to buy the Asia Square Tower 1 office building. Its statement to the stock exchange came a day after Bloomberg News said a consortium of Norway's sovereign wealth fund and CapitaLand has been chosen as the preferred bidder for the 43-storey office building in Singapore's...
Prospective condominium buyers can now be assured that what they see is what they will eventually get, as developers must now declare that showflats correctly represent the actual units offered for sale, before opening them up for viewing. Measures taken by the developers of The Criterion executive condominium (EC) at Yishun include labels indicating the position and thickness of removed walls; a list...
Property developer Roxy-Pacific has agreed to acquire a freehold residential site near Marine Parade for S$21.5 million, it said in a bourse filing on Wednesday. The plot, at 26 Sea Avenue, has a total land area of 19,474 sq ft and an existing plot ratio of 1.4 under the 2014 Master Plan for residential apartment development. For that size, the purchase sum works out to roughly S$789 per sq ft per...
In its latest call for the Government to scale back on property curbs, the Real Estate Developers’ Association of Singapore (REDAS) cautioned about a collapse in the housing market, saying that a deterioration in economic sentiment, dwindling sales and greater upcoming supply would risk precipitating a downward spiral of property prices. “The property market is clearly heading for a different phase,...
With an impending oversupply of private residential homes, the Real Estate Developers' Association of Singapore (REDAS) has said it is ready to work with the Government to address the situation. REDAS estimates that there will be 67,000 new units by 2019, excluding executive condominiums. This represents 20 per cent of the total number of private residential units currently. Only 6,500 homes were...
Local developer Perennial Real Estate Holdings is making its foray into Africa through a joint venture deal with Shangri-La Asia to develop an integrated mixed-use complex in Ghana worth more than US$250 million (S$352 million). In a statement on Friday (Aug 21), Perennial said it will acquire a 55 per cent stake in a 49,874 square metre (sqm) site from Shangri-La Asia for S$21.3 million. The site is...
Singapore-listed developer GuocoLand is selling a large development project in Beijing for RMB10.5 billion (S$2.3 billion), in a deal that is expected to generate a net gain of RMB1.58 billion. The sale of the Dongzhimen (DZM) mixed-use development to China Cinda Asset Management provides an opportunity for GuocoLand to realise the development's capital value, the developer said in a stock marketing...