A freehold commercial corner development site with a 40-metre wide dual frontage along Serangoon Road and Petain Road has just been launched for sale via an Expression of Interest (EOI) exercise by exclusive marketing agent, JLL. The corner development site consist of 450 Serangoon Road and 452 Serangoon Road. The site occupies a prominent corner location with a combined land area of 4,984 sf....
A CapitaLand and City Developments Ltd (CDL) tie-up has clinched a commercial and residential site in Sengkang Central. Their winning bid of S$777.78 million works out to S$923.59 per square foot per plot ratio (psf ppr) for the 99-year leasehold site next to Buangkok MRT Station. In a joint release on Thursday evening, CapitaLand and CDL said their joint venture will transform the 3.7-hectare site –...
Private home sales by developers in Singapore surged 55 per cent in July from a year earlier to a 16-month high, boosted by panic buyers who rushed to snap up properties the night before new cooling measures took effect early last month. Excluding executive condominiums (ECs), developers sold 1,724 units in July, compared with 1,112 units in the same month a year earlier, Urban Redevelopment Authority...
More than 1,720 new private homes were sold in July, a 55-per-cent jump compared with the same period last year and almost thrice the number sold in June. These were the latest figures released by the Urban Redevelopment Authority (URA) on Wednesday (Aug 15). The surge was largely due to the last-minute buying frenzy on July 5, when buyers rushed in to snap up residential units to avoid the...
If Sherman Kwek sounds annoyed, he has his reasons — 2.9 million square feet worth of reasons. That figure, equating to 270,000 square metres, is the total saleable area of apartments almost ready to hit the market on the books of City Developments Ltd, the Singapore developer controlled by the family of billionaire Kwek Leng Beng, who handed the keys of his empire this year to son Sherman. The...
In a bid to attract more buyers, some property developers are lowering the prices of their residential projects by about 5 to 10 per cent after the latest round of cooling measures took effect on July 6. Daintree Residence, a 99-year leasehold condominium which opened for sale on July 28, was selling at an average price of S$1,710 psf, which is 5 per cent lower than the earlier announced price of...
Tekka Place, a redevelopment of the former The Verge shopping mall in Little India, is set to open in late 2019. The integrated mall is developed by Singapore-listed construction and property development company, Lum Chang Holdings, and a fund managed by LaSalle Investment Management Asia. The new development will comprise a 10-storey main block and a seven-storey annex block with rooftop deck....
Owners of Kingsley Mansion are launching an en bloc sale by tender for the 18-unit condominium in the Balestier area with a reserve price of S$45.5 million. The reserve price for the 14,350 square foot freehold site translates to a land rate of S$1,132 per sq ft per plot ratio (psf ppr), with no development charge payable on its gross plot ratio of 2.8 times or the maximum permissible gross floor area...
Golden Mile Complex, a familiar landmark with its eye-catching stepped terraced design, is going en bloc. As 724 owners of 550 units have signed the collective sale agreement – representing 80.83 per cent of the total share value of the development – the required approval of 80 per cent has been met. The notice of the proposed collective sale was dated Aug 3. The neighbouring Golden Mile Tower,...
With less than a third of collective sale sites sold so far this year and no deal inked since property cooling measures took effect more than a month ago, one property analyst has declared the current cycle of en bloc fever to be over. More than 30 collective sale sites have failed to secure a buyer since January, according to data from real estate agencies Huttons Asia, Savills and Colliers. "This...
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