Commonwealth Ave site awarded for S$562.8m
By Romesh Navaratnarajah: A residential site at Commonwealth Avenue (pictured) has been awarded to a consortium comprising Intrepid Investments, Verwood Holdings and Hong Realty, after the developer submitted the highest bid of S$562.8 million.Launched for sale on 18 December, the 130,101 sq ft...
Continue Reading • 8 Feb 2013
Luxury developer says no to offering discounts
By Shabnam Muzammil: Following the latest round of property cooling measures in Singapore, many developers have been offering “incentives” to buyers in the form of discounts to offset the stamp duty hike. But builders of super prime properties have resisted such sales tactics....
Continue Reading • 8 Feb 2013
Bill to force developers to disclose discounts
By Andrew Batt: Singapore property developers will face tougher regulations if a proposed amendment to the Housing Developers (Control and Licensing) Act is enacted into law.The Bill aims to protect the interests of buyers purchasing uncompleted units, and will force developers to publish details...
Continue Reading • 7 Feb 2013
S'pore developer sets foot in Medini Iskandar
By Romesh Navaratnarajah: Global Capital & Development (GCD), the lead investor in Medini, Iskandar Malaysia has signed an investment deal worth S$1 billion with Singapore developer Link (THM) Holdings to build the Media Village @ Medini Iskandar. Sited on a 5.9ha plot, the development will...
Continue Reading • 7 Feb 2013
Ascott voted best again
By Romesh Navaratnarajah: The Ascott Limited (Ascott), the serviced residence business unit of CapitaLand, has once again been named the Best Serviced Apartment/Residence Operator at the DestinAsian Readers’ Choice Awards 2013.Ascott has made a clean sweep of the awards in that category...
Continue Reading • 7 Feb 2013
Island properties gaining popularity
By Shabnam Muzammil: Island destinations in Asia are seeing a significant increase in tourism and are providing resort investors with opportunities for long-term returns on vacation homes. The recent sale of the last four-bedroom villa at The Estates Samui, an exclusive collection of...
Continue Reading • 6 Feb 2013
Punggol residents against proposed road
By Romesh Navaratnarajah: A group of residents living near a forested hill in Punggol are urging the government to stop plans for a proposed road that would harm Punggol Waterway’s last natural feature, reported The Straits Times. But a spokesman for the Urban Redevelopment Authority (URA)...
Continue Reading • 6 Feb 2013
Commonwealth Ave site attracts S$562.8m top bid
By Romesh Navaratnarajah: A residential site (pictured) at Commonwealth Avenue attracted just three bids when its public tender closed yesterday. Launched for sale on 18 December, the 99-year leasehold site has a land area of 130,101 sq ft and maximum gross floor area (GFA) of 637,496 sq ft. A...
Continue Reading • 6 Feb 2013
More cooling measures in HK a possibility
By Romesh Navaratnarajah: Hong Kong may roll out more property cooling measures given the risks from property price gains and elevated household debt, said its monetary chief Norman Chan.He said debt is now “near historic high levels”, citing ratios of 58 to 59 percent of GDP in Q3...
Continue Reading • 6 Feb 2013
Sydney homes for sale fall 13%
By Romesh Navaratnarajah: With interest rate cuts boosting property purchases, Sydney home sale listings fell 13 percent in January from last year to its lowest level in three years, according to independent property advisory SQM Research.Homes in Sydney that were offered for sale online dropped...
Continue Reading • 5 Feb 2013
Luxury Sentosa villa up for grabs
By Romesh Navaratnarajah: A five-bedroom villa (pictured) at Kasara in the ultra-posh Sentosa Cove is up for sale at S$23 million or S$2,500 psf. Despite its high price tag, the 9,100 sq ft property is competitively priced compared to other luxury homes in the area and has been on the market for...
Continue Reading • 5 Feb 2013
The Haven's Acacia tower in Ipoh completed
By Farah Wahida: Malaysian developer The Haven Sdn Bhd has announced the completion of Tower Acacia at The Haven Lakeside Residences in Ipoh, together with supporting amenities like a swimming pool, clubhouse and jogging track.Launched in 2011, The Haven not only promoted itself but also the...
Continue Reading • 5 Feb 2013
Singapore world's 6th most expensive city
By Romesh Navaratnarajah:Climbing up from ninth place, Singapore is now ranked the world’s sixth most expensive city to live in, according to the latest survey conducted by the London-based Economist Intelligence Unit (EIU). Tokyo regained top spot as the world’s most expensive city...
Continue Reading • 5 Feb 2013
6.9m population is worst case scenario: Khaw
By Romesh Navaratnarajah: The projected 6.9 million population revealed in the government’s Land Use Plan is not a forecast or a target, according to National Development Minister Khaw Boon Wan. In a recent blog post, he said: “It is the worst case scenario. We hope we do not reach...
Continue Reading • 4 Feb 2013
Pulau Seringat the next Sentosa Cove?
By Romesh Navaratnarajah: Pulau Seringat (pictured) which forms part of Singapore’s southern islands has been zoned residential by the government under its new Land Use Plan, after being earmarked as a potential casino resort six years ago. Although some areas are still rustic, this tiny...
Continue Reading • 4 Feb 2013
90000 housing units over next few years
By Romesh Navaratnarajah: Singapore will get three new towns – Bidadari, Tampines North and Tengah – which are expected to provide 90,000 homes over the next few years, reported The Straits Times.The areas of Bukit Brown and Keppel could also be developed in the future, according to...
Continue Reading • 4 Feb 2013
New shareholders for Raimon Land
By Andrew Batt: High-end Thai developer Raimon Land has new majority shareholders.In a statement to the Stock Exchange of Thailand published on Friday evening, the company said that its previous major shareholder, IFA Hotel & Resort 3 Ltd, sold 893 million shares to JS Oil Pte Ltd at THB2.40...
Continue Reading • 4 Feb 2013
Ascendas CEO to step down
By Shabnam Muzammil: Singapore-based Ascendas Group announced that its President and CEO Chong Siak Ching (pictured) has resigned to assume the role of CEO of the National Art Gallery.Commencing on April 1, she will also head the cluster of three visual arts institutions under the Ministry of...
Continue Reading • 4 Feb 2013
Minimal movement in Singapore rents: Colliers
By Romesh Navaratnarajah: Rental movements across Singapore’s office, retail, industrial and residential segments are expected to be moderate this year, according to a report by Colliers International. Compared to 2012, rents of Grade A buildings are forecast to decline by five percent in...
Continue Reading • 4 Feb 2013
A letter from London: The importance of SEA buyers in the UK capital
By Prime Resi: Demand for London residential new-build property is sky high and rising. CBRE revealed last week that the volume of such sales above £1,000 per sq ft leapt by a whopping 240 percent over the last year, and it’s been well-documented that Southeast Asian buyers have...
Continue Reading • 4 Feb 2013