Far East Organization has won the tender for a hotel site at Sentosa. The 60-year leasehold site at Artillery Avenue is situated on elevated ground and overlooks Palawan Beach. According to Sentosa Development Corporation, Far East will pay an upfront land premium of S$32 million. In addition, it will pay S$3.7 million annually, or 10 per cent of the total annual gross revenue, whichever is...
Far East Organization
Far East Organization has topped the list of property developers in Singapore yet again for best sales figures last year at 2,181 private homes, or around 10 percent of the total number of 22,290 new units sold. Among its best-selling projects were The Hillier in Hillview Rise and Watertown in Punggol, according to DTZ Research. In second place is City Developments Limited (CDL) and parent company Hong...
Far East Orchard - a unit of Far East Organization, Singapore's largest privately held developer by assets - said on Monday it planned to buy Straits Trading Co's hospitality management business and stakes in the company's hotel assets, Dow Jones Newswires reported. Far East Orchard said it signed a non-binding memorandum of understanding with Straits Trading for the proposal, which also involves...
Property developer Far East Organization plans to roll out a number of small home offices, or SOHO developments, in the months ahead. These projects will be launched under its new brand, Far East SOHO, starting with a 231-unit development at Scotts Road. Despite the uncertainties in the global economy, property analysts expect demand for such projects to be resilient. The Scotts Towers, which will be...
Far East Organization (FEO) will likely raise at least S$500 million through the listing of some of its hotel and serviced residence assets in a real estate investment trust (Reit) next year, according to sources with direct knowledge of the deal. Singapore’s Reit market has been attracting listings at a time when investors are looking for stable yields in the midst of market volatility and...
Private property developer Far East Organization has appointed Mr Lucas Chow as an Executive Director. The appointment from August, will see Mr Chow providing strategic counsel to Far East Organization’s Chief Executive Officer, Mr Philip Ng, on new business growth and brand development across the company's diverse real estate portfolio. “Lucas brings an excellent record of accomplishments in...
The Housing and Development Board (HDB) has awarded the land parcel at Woodgrove Avenue to Tampines Court, a unit of Far East Organization, for S$105.12 million. The developer has submitted the highest of the six bids received at the close of the tender on November 4. The land parcel, which is meant for strata landed or condominium development, has a site area of over 20,900 square metres and a maximum...
Far East Organization has lodged the top offer in a six-way bidding battle for a Woodlands site. The firm tendered $105.1 million or $333 per sq ft (psf) per plot ratio for the 99-year leasehold plot at the junction of Woodlands Avenue 1 and Rosewood Drive. EL Development is the next highest on $100.9 million. BS Capital, Sim Lian Land, TID Residential and Ecco Development, with the lowest bid of $73...
FAR East Organization and Orchard Parade Holdings will buy Pastoral View (through an enbloc sale) and the next door plot being sold by OCBC for $122 million. This works out to about $847 per square foot per plot ratio (psf ppr) inclusive of a marginal development charge (DC). Both freehold sites have a combined land area of 51,395 sq ft and can be redeveloped into a new condo with about 140 units...
Market players believe more home hunters and investors are going up-market. To tap opportunities in this segment, developer Far East Organization has launched a series of luxurious apartments under a brand called Inessence. Industry figures show that some 240 ultra high-end homes were sold in the first half of this year, and observers said there is more upside ahead. Living it up at Boulevard Vue will...