The Government of Singapore Investment Corp (GIC) is set to acquire a group of resorts owned by hedge fund Paulson & Co for the sum of US$1.5 billion (S$1.8 billion) after no competing bidders emerged for the bankrupt properties. An auction for the properties was cancelled after no other bids were received, leaving GIC as the successful bidder, according to a filing yesterday in the United States...
real-estate
Towering 43 storeys high on the edge of the city centre, Echelon ascends as the peak of luxury in Alexandra/Redhill estate. Conveniently located within a minute walk to Redhill MRT station, Echelon offers its residences the ultimate ease of accessibility to all parts of Singapore. Perched admidst a horizon that displays a stunning greenery and city landscape, Echelon’s contemporary twin towers are...
The Republic is no longer the region's top destination for real estate investment and development opportunities, according to a report co-published by PricewaterhouseCoopers (PwC) and the Urban Land Institute (ULI). In the report, called Emerging Trends in Real Estate Asia Pacific 2013, the Republic fell to third place in the rankings, losing the top place it held for the last two years to Jakarta. "The...
Property tycoon Simon Cheong is taking his flagship company SC Global Developments private and has made a cash offer of S$1.80 a share. The offer price values the luxury property developer, SC Global, at approximately S$745 million. It is also at a 49.4 percent premium to its last traded price of $1.205 on November 30. Mr Cheong currently holds a 55.06 percent stake in SC Global and plans to de-list the...
Singaporean billionaire investor Peter Lim plans to invest up to three billion ringgit more in Johor's Iskandar region over the next few years. He said he is currently looking at another one or two more projects in the area, but declined to disclose more details. Speaking at the sidelines of a press conference at the World Islamic Economic Forum in Johor Bahru, Mr Lim said his investments would be real...
The 99-year leasehold 'white site' with a minimum hotel component at Thomson Road/Irrawaddy Road received a total of 9 bids at the close of tender on Tuesday. A white site is a site in which a variety of uses are allowed. The developer will possess the flexibility to decide on the mix of uses and respective amount of floor space dedicated for each use, as long as the total allowed Gross Floor Area (GFA)...
The Urban Redevelopment Authority (URA) launched the food & beverage site at Punggol Point for sale by public tender today. Punggol Point has been envisioned as a rustic coastal recreation destination with activities and attractions to enhance its unique waterfront location. With the opening of Punggol Promenade, Punggol Point Park and the North-Eastern Park Connector Network, Punggol Point today is a...
Mapletree Commercial Trust said yesterday it agreed to buy Mapletree Anson for S$680 million from a wholly-owned unit of its sponsor Mapletree Investments. Mapletree Anson, is a 19-storey premium office building in the CBD, with a 99-year lease beginning from October 2007. It has a gross floor area of 383,812 sq ft and net lettable area of 331,854 sq ft. Source : Today - 4 Dec...
The Urban Redevelopment Authority (URA) has released the detailed sales conditions for the hotel site at Victoria Street/Ophir Road today. The land parcel at Victoria Street/Ophir Road is made available for application under the Reserve List of the 2nd half 2012 Government Land Sales (GLS) Programme. The land parcel is located near to the Ophir-Rochor Corridor, a new growth area envisioned to become an...
The signs are clear for all to see: Developers' appetite for sites has rebounded strongly. In addition to the land parcels made available on the Confirmed List of the Government Land Sales programme, more sites have been triggered from the Reserve List in recent months. Under the Reserve List, the tenders will only be launched when a developer submits an application committing to bid at a minimum price...