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Showing posts from May, 2013

Marina Bay set to get even livelier

The Straits Times  |  16 May 2013 More growth in store with new homes, offices and shops: Analysts MARINA Bay is already a flourishing neighbourhood, with hundreds of its own residents and many thousands more people streaming in each day to work and play. But the area is still very much a work in progress, said analysts, with more homes, offices and shops set to be built there over the next few years. Several empty plots are also yet to be developed. Analysts and major tenants were reflecting on the area's progress as the Marina Bay Financial Centre (MBFC) was officially launched yesterday. At the launch, Prime Minister Lee Hsien Loong hailed the latest addition to the Marina Bay skyline. He noted that the project added 3 million square feet of prime office space to the Central Business District - more than twice the office space at Raffles Place. It also set a new standard for green buildings. With its luxury apartments and restaurants

Banyan Tree may spin off S-E Asia hotels into Reit

The Straits Times  |  16 May 2013 RESORTS group Banyan Tree may spin off its hotels in South- east Asia into a real estate investment trust (Reit) after the hospitality Reit industry matures further, said executive chairman Ho Kwon Ping yesterday. RESORTS group Banyan Tree may spin off its hotels in South- east Asia into a real estate investment trust (Reit) after the hospitality Reit industry matures further, said executive chairman Ho Kwon Ping yesterday. "What we think is going to happen in a few years' time is that there will be appetite for a Reit of our kind, which will be hotels that would not necessarily be in Singapore or Hong Kong but diversified and within the region," said Mr Ho, speaking on the sidelines of the firm's first-quarter results briefing at Fullerton Hotel. "That's what we're looking towards... (these) are the type of assets we have." He said Banyan Tree's sale and leaseback of the Angsana Vel

Tampines housing site for sale

The Straits Times  |  16 May 2013 A RESIDENTIAL site in Tampines that can yield 530 units was put up for sale by the Government yesterday. A RESIDENTIAL site in Tampines that can yield 530 units was put up for sale by the Government yesterday. The 17,103 sq m plot is part of the confirmed list of the Government Land Sales (GLS) programme, and has a lease of 99 years. Four other plots - in Toa Payoh Lorong 6, Prince Charles Crescent, Siglap Road and Geylang East Avenue 1 - were also released for application on the reserve list. Together, the five plots can yield 2,725 units, and were released as part of the GLS programme for the first half of the year. Analysts say interest in the Tampines site (Parcel B) at Tampines Avenue 10 is expected to be moderate because of its distance - 2.2km - from the Tampines MRT station, and the neighbourhood already has an ample supply of land. "On top of Q Bay Residences, with 153 units unsold as of last month, there are a

Five plots up for sale set to yield 2,700 homes

The Business Times  |  16 May 2013 FIVE 99-year leasehold plots released for sale by the government yesterday could yield more than 2,700 homes. FIVE 99-year leasehold plots released for sale by the government yesterday could yield more than 2,700 homes. The sites were launched by the Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB) as part of the Government Land Sales (GLS) programme for the first half of the year. One site, parcel B at Tampines Avenue 10, was put up for sale under the confirmed list. The remaining four plots, at Toa Payoh Lorong 6, Siglap Road, Geylang East Avenue 1 and Prince Charles Crescent (parcel B), will be made available under the reserve list. For the Tampines Avenue 10 parcel, analysts see a modest demand of three to six bidders with a winning bid in the range of $400 to $470 per square foot per plot ratio (psf ppr). The site has a maximum gross floor area (GFA) of about 515,000 sq f

April developer sales of private homes halved

The Business Times  |  16 May 2013 Developer sales of private homes halved last month mainly due to a dearth of big project launches. [SINGAPORE] Developer sales of private homes halved last month to 1,375 units from the record 2,793 units in March - mainly due to a dearth of big project launches. The numbers exclude executive condos (ECs). The 1,158 private homes that developers released last month was just a third of March's 3,489 units. As a result, the ratio of units sold to units launched rose from 80 per cent in March to 119 per cent in April. Primary-market sales last month were mainly from earlier launches rather than projects released in April itself. Two of the top-three selling projects last month were also the best-sellers in March. They are Bartley Ridge (with 154 units sold in April) and D'Nest in Pasir Ris (92 units). Knight Frank spotted some evidence of price reductions from its analysis of the latest developer sales d