Eye on Woodlands: Northern Growth Corridor
Does Woodlands Regional Centre have what it takes to thrive? A few weeks ago, a prime commercial site attracted strong interest from developers. A consortium of Far East Organization, Far East Orchard and Sekisui House put in the highest bid of nearly $634 million or $907 psf ppr for the first...
Continue Reading • 2 May 2014
Twin-towers project planned for Cambodia's capital
Homegrown property developer Oxley Holdings will invest US$300 million (S$375.9 million) to develop a twin-towered SoHo project in Phnom Penh, said media reports.Dubbed The Bridge, the project is a joint venture between Oxley Holdings and landowner Cambodia World Bridge Land. Set to be completed...
Continue Reading • 2 May 2014
175 units taken up at Commonwealth Towers launch
Apartments at the Commonwealth Towers condominium were selling fast during the first day of launch yesterday, according to media reports. Out of the 300 units initially released, 175 were taken up as of 8pm, with over 100 buyers in the process of securing an option to purchase.Due to strong...
Continue Reading • 2 May 2014
HDB awards Sims Drive site to GuocoLand
The housing board has awarded a residential site (pictured) at Sims Drive to First Changi Development, a unit of GuocoLand.The developer had submitted the top bid of $530.9 million for the 23,900.1 sqm plot when the tender closed yesterday. Offered on a 99-year lease, the land parcel could be...
Continue Reading • 30 Apr 2014
Mapletree, Oakwood ink mega-bucks deal
Mapletree Group and US-based Oakwood Worldwide have signed a massive deal to open more than 100 new properties around the world over the next five years. Mapletree, a real estate development, investment and capital management company headquartered in Singapore, will acquire a 49 percent stake in...
Continue Reading • 30 Apr 2014
More owners renting out homes illegally
Despite being illegal, more people have opened their homes for short-term rentals, as HDB investigated 184 such cases last year, compared to 106 cases from 2012, media reports said. Those who flout the rule may be fined or lose their flats if proven guilty of renting out their flats for less than...
Continue Reading • 30 Apr 2014
Govt releases two sites in Potong Pasir, Sembawang for sale
Two land sites were released for sale on Wednesday by the Urban Redevelopment Authority (URA) and Housing & Development Board (HDB).Together, both sites could yield about 1,300 residential units. The first is a commercial and residential site at Meyappa Chettiar Road (pictured), which...
Continue Reading • 30 Apr 2014
13 new launches planned in coming months
Only 480 new private housing units were sold in March, compared to 739 units in February and 572 in January, pushing the total sales volume for Q1 2014 to 1,791 units, or the lowest quarterly level since late-2009, revealed a Savills report.The low number of transactions is due to sluggish sales...
Continue Reading • 30 Apr 2014
Keppel Land, NTU get top marks for greening efforts
Property firm Keppel Land will receive this year's Building and Construction Authority (BCA) Green Mark Champion award, along with Nanyang Technological University (NTU), for their efforts in developing environmentally-friendly buildings. This latest accolade adds to Keppel Land's 32 Green Mark...
Continue Reading • 30 Apr 2014
Sims Drive site attracts top bid of $530.9m
A residential site (pictured) at Sims Drive attracted four bids when the tender closed on Tuesday, said HDB. Launched for sale on 30 December 2013, the 23,900.1 sqm plot has a gross floor area (GFA) of 71,700.3 sqm and plot ratio of 3.0. The top bid of about $530.9 million was submitted by...
Continue Reading • 30 Apr 2014
Ho Bee Q1 net profit sinks 92%
Singapore developer Ho Bee Land has reported a 92 percent plunge in net profit to $4.1 million for the first quarter of 2014 over the same period last year. Group turnover for the period amounted to $17.1 million, 72 percent lower than the corresponding period last year.In a statement, the...
Continue Reading • 29 Apr 2014
Condo developers are downsizing units: report
Property developers are building smaller condo units as they compete to keep prices affordable amid tougher market conditions and the government's loan curbs, revealed a Knight Frank study reported in the media. “It appears that there is a reduction in the variety of size ranges since...
Continue Reading • 29 Apr 2014
Aspial acquires yet another Melbourne property
Singapore-listed Aspial Corporation has signed an agreement with City Light Properties to purchase a freehold property in Melbourne’s central business district for A$26.8 million, via its subsidiary WCL-A Beckett (Vic). Located at 54-64 A’Beckett Street, media reports said the site...
Continue Reading • 29 Apr 2014
Lakeside is set to boom
Known for the lush Chinese and Japanese gardens, Lakeside remains one of Singapore’s less developed regions. But all that is set to change with the government’s plans to transform the area into a waterfront precinct for business and recreation, media reports said. Lakeside is also...
Continue Reading • 28 Apr 2014
CapitaLand's net profit down 1.7% in Q1
CapitaLand, Southeast Asia’s largest property developer, achieved a net profit of $182.8 million for Q1 2014, down 1.7 percent year-on-year as prior year comparison included a one-time portfolio gain of $58.7 million. Revenue for the group also fell 3.4 percent from a year ago to $612.6...
Continue Reading • 28 Apr 2014
Resale private home prices down again
Prices of non-landed private resale homes continued to fall across all regions of Singapore in the month of March, according to latest flash estimates of the NUS Singapore Residential Price Index (SRPI). Overall prices decreased by 1.1 percent month-on-month, more than the 0.9 percent decline in...
Continue Reading • 28 Apr 2014
The Wilshire up for collective sale
The Wilshire (pictured), a 20-unit residential development along Farrer Road has been launched for collective sale, revealed marketing agent Savills. Located within an established residential enclave in District 10, the 39,130 sq ft corner plot has a gross floor area (GFA) of 64,310 sq ft and is...
Continue Reading • 28 Apr 2014
House prices in Bishan to slip despite strong demand
Despite a slew of new launches in Bishan that resulted in robust sales in the second half of 2013, property prices in the area are expected to moderate slightly as a cautious outlook spreads throughout the market, said analysts quoted in the media. However, Chia Siew Chuin, Colliers...
Continue Reading • 28 Apr 2014
Private home prices down 1.3%, most in 5 years
Private home prices fell by 1.3 percent in the first three months of 2014, following a 0.9 percent drop in the previous quarter, revealed latest data from the URA.This is the second consecutive quarter of decline and also the biggest drop since Q2 2009. Prices tumbled in all segments of the...
Continue Reading • 25 Apr 2014
CDL to showcase Singapore properties in KL
To be held at JW Marriott Hotel in Kuala Lumpur this weekend (26-27 April), City Developments (CDL) will showcase two major projects from Singapore, namely Jewel @ Buangkok and The Venue Residences and Shoppes.Located along Tai Thong Crescent, which is a three-minute walk from Potong Pasir MRT...
Continue Reading • 25 Apr 2014