Ascott grows presence in Vietnam
By Shabnam Muzammil:The Ascott Limited (Ascott) has secured a contract to manage the Somerset West Central Hanoi (pictured), a 252-unit serviced residence in Hanoi, Vietnam that is set to open in 2016. This follows the recent opening of the 100-unit Somerset Vista in Ho Chi Minh City’s...
Continue Reading • 4 Feb 2013
2 new commercial belts for Singapore
By Romesh Navaratnarajah:Singapore will get two more commercial hubs – the Southern Waterfront City and the North Coast Innovation Corridor, according to the government’s new Land Use Plan. The development in the south will start from Marina Bay and extend to Pasir Panjang, while the...
Continue Reading • 1 Feb 2013
Asia cooling measures here to stay
By Andrew Batt: Property market cooling measures are here to stay according to predictions published this week by Colliers International.In its '21 predictions for 2013' White Paper, the consultancy highlighted that government measures that have recently been introduced to cool property markets...
Continue Reading • 1 Feb 2013
S'pore's estates to become denser by 2030
By Romesh Navaratnarajah:The future success of the government’s land use plans will depend on market timing and clarity on the details of development, said Alice Tan, Senior Manager for Research at Knight Frank Singapore. “To fulfil the optimisation of land use in the medium to long...
Continue Reading • 1 Feb 2013
Auction buyers adopt wait-and-see stance
By Andrew Batt: There was little interest from buyers during the first Jones Lang LaSalle (JLL) property auction yesterday, although three offers were made for sellers’ consideration immediately after the event.Despite a healthy turnout of potential buyers, none of the eight properties to...
Continue Reading • 1 Feb 2013
HDB awards Yishun mixed-use site at S$212.1m
By Romesh Navaratnarajah: The Housing and Development Board (HDB) has awarded the tender for a mixed residential-commercial site (pictured) at Yishun Ring Road / Yishun Avenue 9 to CEL Property. Launched for sale on 27 November 2012, the 95,350 sq ft site has a maximum gross floor area of 266,980...
Continue Reading • 1 Feb 2013
Govt's land use plan meets housing needs: expert
By Romesh Navaratnarajah: To cope with a larger population that could hit 6.9 million by 2030, Singapore will ramp up land supply to 76,600ha, an increase from the current supply of 71,000ha. The Land Use Plan released today by the Ministry of National Development (MND) will see 13,000ha or 17...
Continue Reading • 1 Feb 2013
Govt announces land use plan to sustain 6.9m population
By Romesh Navaratnarajah: The Ministry of National Development (MND) today released a Land Use Plan Paper that aims to ensure Singaporeans enjoy a high-quality living environment over the next two decades and beyond. The detailed report comes just days after the government's Population White...
Continue Reading • 31 Jan 2013
URA awards Jurong site to MCL Land
By Romesh Navaratnarajah:The Urban Redevelopment Authority (URA) has awarded the tender for a non-landed residential site (pictured) at Jurong West Street 41 (Parcel A) to MCL Land (Prestige). Launched for sale on 15 November 2012, the 99-year leasehold site has a land area of 240,652 sq ft and a...
Continue Reading • 31 Jan 2013
Aptitude bulks up management team
By Romesh Navaratnarajah:In a bid to strengthen its core management team, Aptitude Real Estate Advisory has welcomed two new Singapore property investment sales specialists onboard. Charles Hoon (pictured), previously Director, Investment Sales Team at CBRE Singapore, has been appointed...
Continue Reading • 31 Jan 2013
Chelsea Creek to launch new phase in Singapore
By Romesh Navaratnarajah: The Tower and Countess House, the latest phase of the exclusive Chelsea Creek development (pictured) in London, will be launching in Singapore from tomorrow till Sunday (1 - 3 February) from 11am to 7pm at the St Regis Hotel. The exhibition is targeted at Singaporeans...
Continue Reading • 31 Jan 2013
Prime bungalows up for sale
By Romesh Navaratnarajah: Three freehold bungalows at Meyer Road, Holland Rise GCB Area and Dunearn Road have been put up for sale, said marketing agent Knight Frank.The Meyer Road property sits on approximately 25,525 sq ft of land and is expected to be sold “in the region of S$33 million...
Continue Reading • 31 Jan 2013
Mapletree deal to be S'pore's biggest Reit IPO
By Nikki De Guzman: Property giant Mapletree Investments, a unit of Temasek Holdings, aims to raise US$1.2 billion (S$1.5 billion) in its initial public offering (IPO) of a real estate investment trust (Reit) backed by assets in Hong Kong and China, reported Bloomberg. The deal is expected...
Continue Reading • 30 Jan 2013
Ascott continues expansion in North America
By Shabnam Muzammil: The Ascott Limited (Ascott), the serviced residence business unit of CapitaLand, is set to grow its presence in North America through a partnership with luxury serviced residence provider AKA. The firm has also appointed the established Serviced Apartments Worldwide (SAW) as...
Continue Reading • 30 Jan 2013
Boom time for Philippines property industry
By Nikki De Guzman: The property landscape of the Philippines has experienced robust growth over the last 20 years. Experts see healthy demand for residential and commercial properties in the country, attributed mainly to strong macroeconomic fundamentals, record-low interest rates and confidence...
Continue Reading • 30 Jan 2013
Condo prices fall 0.3% in Dec
By Romesh Navaratnarajah: Prices of condominiums and private apartments in Singapore fell 0.3 percent in December 2012 after climbing 1.7 percent in the previous month, according to flash estimates for the National University of Singapore’s (NUS) Singapore Residential Price Index (SRPI) and...
Continue Reading • 30 Jan 2013
700,000 new homes by 2030: Govt White Paper
By Romesh Navaratnarajah: To meet the needs of a growing population, the government aims to ensure Singaporeans have affordable and quality housing by 2030, according to its new population White Paper released yesterday. “Our housing estates will be planned comprehensively to meet the...
Continue Reading • 30 Jan 2013
Conversion of derelict garage into modern London homes
By Romesh Navaratnarajah: A once derelict garage in Westbourne Grove, West London is set to be converted into ultra-modern living spaces, as property developer Oakvest plans to build two luxury homes on the compact site.At 4,500 sq ft each, both properties will comprise four floors with four...
Continue Reading • 30 Jan 2013
Almost 50% of London units sold unbuilt
By Romesh Navaratnarajah: Off-plan property sales in London rose 48 percent in 2012 on the back of record demand for new developments, revealed research by CBRE. Sales of properties valued at over £1,000 psf (S$1,944 psf) jumped 240 percent compared to 2011. The strong showing is...
Continue Reading • 30 Jan 2013
S'pore rents still among highest in Asia
By Romesh Navaratnarajah: Singapore still has the third highest rents in Asia after Hong Kong and Tokyo, according to the latest accomodation data from human resources consultancy ECA International. Globally, the city-state is in eighth spot.For Singapore, the report focused on several thousand...
Continue Reading • 29 Jan 2013