Sophia Mansions, a 19-unit development located at Mount Sophia, has been sold for S$43.3 million. Its marketing agent Credo Real Estate said the property was acquired in a collective sale deal by RP Assets Pte Ltd, a subsidiary of Roxy-Pacific Holdings. Under the 2008 Master Plan, the freehold site is zoned for residential use and Credo said it could be developed into a boutique development of up to six...
real-estate
Ascendas Real Estate Investment Trust (A-REIT) has reported a 10.3 per cent on-year increase in Distribution per Unit (DPU) to 3.53 cents for its first quarter ended 30 June 2012. In a filing on the Singapore Exchange, A-REIT said its DPU grew despite a 7.5 per cent increase in units outstanding. The amount available for distribution increased 16.1 per cent to S$76.5 million in Q1. For the first...
The bar for landed living has been set a notch higher as City Developments Limited (CDL) and joint venture partner Hong Realty (Private) Limited unveiled its latest development, Haus@Serangoon Garden during the weekend. The well-loved Serangoon Gardens residential enclave, long known for its quaint and tranquil surroundings, will house 97 terraces which offer homeowners the things that matter most –...
Conditions in the private property market are still ripe for moderate price growth despite slower sales in the last few months which hit an all-time low for the year in June. According to latest figures released by the Urban Redevelopment Authority (URA), 1,371 private homes were sold during the month, a 19 percent decline month-on-month (m/m) from the 1,702 seen in May. Including executive condominiums...
Chancery Garden, a prime freehold mixed landed development at District 11 near Orchard Road has been put up for collective sale by tender. With a site area of 29,468 sq ft, it could house six strata semi-detached plus 10 strata terraces, 18 strata terraces or any other configuration subject to approval. The property’s owners expect a minimum price of S$45 million and it is likely to attract interest...
The number of new private homes sold in June continued to fall for the second consecutive month, according to the latest data released by the Urban Redevelopment Authority (URA). Developers sold 1,371 private homes (excluding executive condominiums) in June, down 19.4 per cent from May when 1,702 units were sold. May's private home sales figures had dropped 32 per cent compared to April and, for the...
Real estate investment activity in Singapore has picked up in the second quarter of 2012. According to DTZ Research, investment activity for the second quarter increased 48 per cent on-quarter to S$6.9 billion. Meanwhile, investment deals for the first half of 2012 totalled at S$11.6 billion, dropping 32 per cent from S$17.1 billion on-year. Land sales made by the government declined too, accounting for...
Kismis Lodge, which is located off Toh Tuck Road, has been put up for collective sale by Credo Real Estate. The property currently comprises 64 units of walk-up apartments with a land area of 70,283 square feet. In a statement issued on Monday, Credo said the owners are expecting offers of around S$90 million to S$95 million. This translates to about S$1,281 per square foot (psf) to S$1,352 psf. If the...
Two adjoining freehold residential sites in Upper Serangoon have been put up for sale. Marketing agent Colliers International says the indicative pricing for the sites at 1 Surin Avenue and 790 Upper Serangoon Road is about S$40 million. In a statement, Tang Wei Leng, executive director of investment services at Colliers International, said: "Indicative pricing is in the region of S$40 million. Including...
Singapore-listed Keppel Land is making its first foray into Sri Lanka with the signing of a conditional joint venture agreement with CT Properties, a leading property developer in Sri Lanka. The joint venture will develop a luxury condominium project with about 260 residential units in the affluent Kotahena district in Colombo, the commercial capital of Sri Lanka. In a statement released on Friday,...