Frasers Centrepoint Trust has put in the top bid of nearly S$88 million for a residential site at Woodleigh Close. The price works out to S$270 per square foot per plot ratio. The next highest bid came from Hoi Hup Realty at about S$83 million. The lowest bid of S$74 million was put in by Sim Lian Land. The Urban Redevelopment Authority received six bids in total when the tender closed on Tuesday. The...
developers
Keppel Land has bought a 10 hectare site in Shenyang's Shenbei New District for about S$31 million. This parcel is located next to another site which Keppel bought in August 2007. The combined area of some 34 hectares will house an integrated township development, with a mix of mid- and high-rise apartment blocks. The new township is surrounded by residential, commercial, high technology industrial...
Only two bids were received in the tender for a residential site at Simei Road, which is being launched under HDB's Design, Build and Sell Scheme. Property developer Sim Lian Land put in the top bid of S$52 million. The price works out to S$1,472 per square metre of gross floor area. AMK Development put in the lower bid of S$37.2 million or S$1,055 per square metre of gross floor area. The parcel spans...
Niche property developer Soilbuild Group has won the tender to build, own and operate a stack-up factory in the Tuas area. The award for the 5-hectare site at Tanjong Kling Industrial Estate was given out by JTC Corporation. This is the first time that a stack-up factory development has been awarded to a private developer. JTC said Soilbuild clinched the contract because its concept included enhanced...
The Urban Redevelopment Authority (URA) has closed the tender for a 53,200-square metre residential site at Choa Chu Kang Drive. The highest offer for the site was for S$116 million, which translates to S$203 per square foot. The offer was submitted by Tian Hock Properties. Li Hiaw Ho, executive director of CBRE Research said given the top bid of S$203 per square foot and an estimated breakeven cost of...
Mapletree Investment, the real estate branch of Singapore investment firm Temasek, has signed an agreement with China's Guangzhou Southern-Donald Technology to build seven blocks of high-end service apartments and a retail mall. Mapletree will hold 80 per cent of the US$320 million project. The development in Nanhai District of Foshan City, Guangdong Province, will be the third investment of the newly...
SINGAPORE-LISTED Gallant Ventures is making another effort to add more buzz to its Bintan projects by announcing a slew of new investments, including infrastructure, worth some $500 million. This time around it’s not only the well-heeled it’s trying to draw to its pristine beaches, but also the middle-income investors. It has been talking to Singapore’s Housing Development Board and National Trades...
US sub-prime crisis hurts confidence of likely buyers City Developments (CDL) will delay sales of new residential projects in Singapore, where it gets more than half of its revenue. The confidence of prospective home buyers has been eroded by the sub-prime mortgage crisis in the United States and the downturn in global credit markets, the company said. “How long the uncertainty and credit squeeze will...
Property developer City Developments has reported a 31 percent rise in first-quarter earnings to S$165 million. The results came at the lower end of expectations. Revenue fell 1.3 percent to about S$759 million. The Singapore property market cooled substantially in the first quarter in the wake of the US sub-prime crisis late last year. The government also scrapped a deferred payment scheme, which...
Property developer UOL Group has posted a 44 percent drop in first-quarter net profit to about S$43 million. This was due to the absence of a one-time gain on the sale of Central Plaza, which lifted the number in the year-ago period. Revenue rose 11 percent to about S$162 million, boosted by better performances from its hotels in the key markets of Singapore, Australia and Vietnam. UOL also benefited...