The Urban Redevelopment Authority (URA) has launched a transitional office site at Mohamed Sultan Road for sale by public tender. The site is one of three commercial parcels to be sold through the confirmed list under the Government Land Sales Programme for the second half of this year. It has a land area of nearly 0.62 hectare and a maximum permissible gross floor area of about 9,200 square metres. A...
Singapore Office
With no new major buildings yet completed, supply of office space continues to be tight in the Central Business District (CBD). In the wake of unceasing uncertainties in the wider economy and high office rentals, more companies are adopting a cautious business approach, gravitating towards cheaper premises like decentralised office buildings, industrial properties, business parks and disused State...
Prices of private homes in Singapore grew at a slower pace in the second quarter than initially projected - climbing at just 0.2 per cent against an earlier estimate of 0.4 per cent. This is a far cry from the 3.7 per cent growth in the previous three months. Analysts said this is the first time that final numbers have come in lower than flash estimates, suggesting that home prices are finally...
SINGAPORE’S booming office market is facing a drop in demand and a slowdown in rents that have left many wondering: What happens next, when a host of new developments are launched? Tight supply and high demand, mostly from financial institutions, made Singapore the ninth most expensive office market in the world, ahead of rival Hong Kong, according to property consultant CB Richard Ellis. Rents nearly...
CAPITACOMMERCIAL Trust, the office landlord run by CapitaLand, will pay investors 23 per cent more in dividends for the second quarter, as it earned more rental income. Shareholders will receive $36.1 million, or 2.6 cents a share, for the three months ended June 30, from 2.12 cents a year earlier. CapitaCommercial also expects to post higher income for the rest of the year, as it increases rents on...
The Singapore Land Authority (SLA) has awarded the first two sites for transitional office space this year. One of the most keenly-watched sites was the former Home Affairs Ministry complex at Phoenix Park. The parcel was awarded to LHN Facilities Management, which will pay S$368,888 in rent per month. 11 bids were received for the Phoenix Park site, 10 of which were above the guide rent of S$165,000...
Office rents in Singapore are starting to show signs of peaking, said property analysts. They noted that prime rental costs have generally increased at a far slower pace in the first half of this year, compared to 2007. Looking ahead, they expect office rents to soften even more towards the end of 2009 and early 2010 as demand for prime space eases. Donald Han, managing director of Cushman &...
SPRING Singapore is putting its headquarters up for sale ahead of a possible move to the second phase of Fusionopolis at One North. The Government’s enterprise development agency hopes to then lease half of the building’s units: back for the next two years for its roughly 300 employees while its new headquarters is being built. While no deal has been signed for Fusionopolis, it is understood that...
The SPRING Singapore building at No. 2, Bukit Merah Central has been put up for sale by expression of interest. The property comprises a 22-storey tower block and a six-storey podium block. SPRING Singapore sits on an area of 88,295 square feet and the building has a total gross floor area of 355,153 square feet. The property has a lettable area of 198,744 square feet and is almost fully occupied. The...
AN EXCITING cluster of shops, homes, entertainment centres, hotel and office space - all set within an attractive garden-like environment in the heart of Singapore’s city centre. This is the Urban Redevelopment Authority’s (URA) vision for the 2.7-hectare green field development site, :bordering Ophir and Rochor roads, it is putting out for tender. With analysts forecasting a possible land sales...