Singapore

Wing Tai Holdings' Wingcharm Investment Pte Ltd won a state tender for a 99-year leasehold site in Middle Road for private residential with commercial at first storey use, beating out nine others with its nearly S$492 million bid. Spanning about 80,300 sq ft, the Middle Road plot can yield an estimated 375 homes. The site will be developed into two 20-storey residential towers and one block of low...

The tender for three executive condominium housing development sites closed on Tuesday with the land parcel at Yuan Ching Road drawing a whopping 16 bids. This is the highest number of bids for an executive condominium site in 16 years. Meanwhile, the land parcels at Punggol Central and Punggol Drive drew eight and six bids respectively. The top bid for the Yuan Ching Road site came from a...

JTC Corporation (JTC) has launched the sale of three plots of industrial land -- one at Ubi Avenue and two at Tuas South -- by public tender. JTC said on Thursday that the three plots form the last batch of the 16 sites in the Confirmed List under the Industrial Government Land Sales (IGLS) for the second half of 2012. Measuring 0.35 hectares, the site at Ubi Avenue 4 has a lease term of 30 years and a...

Property developers expect land prices for private homes in Singapore to scale higher. This may add to their woes as they are already faced with increasing development costs and rising unsold units. Soon, all private homes in Singapore can no longer be called "mass market" developments. This according to the President of the Real Estate Developers' Association of Singapore (REDAS), Wong Heang Fine, who...

MapleTree Logistics said it has acquired 44 and 46 Changi South Street 1 for S$16.8 million from JEP Precision Engineering. JEP Precision Engineering is a local sub-contractor in the aerospace industry, specialising in machining aircraft engine components. JEP will lease back the property for a period of seven years with an option to extend for a further term of seven years. MapleTree can also increase...

The buoyant economic conditions today have caused hotel room rates in major Asian cities like Hong Kong and Singapore to become more expensive. Corporate travel firm Hogg Robinson Group said the rates grew 3.1 per cent on-year in the first half of the year. It added that the increase in rates would likely hit five per cent by the end of the year. A stay in a Hong Kong hotel may cost US$304.66 on...

Mainboard-listed Parkway Life REIT on Wednesday said it is buying six properties in Japan worth about S$60.5 million. The properties are nursing home and care facilities, and will be funded by borrowings. Five of the properties are located in densely populated residential areas in Japan's Fukuoka Prefecture, with the remaining one in Akita Prefecture. Parkway Life REIT said the purchases are...

When it comes to work and play for Asian expats, Singapore is the number one choice. This is according to a recent survey by ECA International, a global human resources organisation. Singapore has maintained the top spot for ten years now but regionally, it is getting tough competition from Japan and even Hong Kong. The survey found that Singapore's infrastructure, low crime rate and lack of social and...

Singapore is the best city in the world for Asian expatriates to live in due mainly to its quality of life and low crime rate, a survey released Tuesday by ECA International showed. Sydney was rated second in the survey, with third spot shared by Melbourne and Kobe in Japan, the human resources firm said. Rounding out the top 10 list for Asian expatriates was Copenhagen in fifth spot, followed by Canberra...

Singapore's development into a vibrant and distinctive city will be done in a sustainable way. And the newly-formed Inter-Ministerial Committee on Sustainable Development will be launching its blueprint on this next year. National Development Minister Mah Bow Tan said this will provide a comprehensive road map of initiatives and measures to sustain Singapore's development for the next 10 years and...