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Feb 20, 2013 - PropertyGuru.com.sg Property giant CapitaLand will develop a new township in Iskandar Malaysia after its wholly-owned subsidiary CapitaLand Malaysia signed an agreement with Iskandar Waterfront Sdn Bhd (IWSB) and Temasek Holdings to jointly acquire and develop sites in Danga Bay (A2 Island). The deal involves purchasing 71.4 acres or 3.1 million sq ft of freehold land in A2 Island for about S$324 million. The signing of the agreement was witnessed by Prime Minister Lee Hsien Loong and his Malaysian counterpart Datuk Seri Mohd Najib Tun Abdul Razak. CapitaLand Malaysia will lead the development of the township which is expected to yield a total gross development value (GDV) of about S$3.2 billion.  To be developed within 10 to 12 years, the luxury waterfront community will comprise high-rise and landed homes as well as a central waterfront hub with a marina, restaurants, shopping mall, offices, serviced residences and recreational facilities. “

Feb 20, 2013 - PropertyGuru.com.sg Singapore-based developer Koh Brothers Group recorded a net profit of S$19.7 million and S$299.5 million in revenue last year. While revenue for 2012 was lower than in the previous year, gross profit was up 13 percent to S$50.1 million. Meanwhile, gross profit margin inched up 3.7 percent to 16.7 percent from 13 percent previously. Earnings per share also increased to 4.23 cents in FY2012 from 4.19 cents previously. “We are pleased to have turned in a sound performance for the year amidst challenges surrounding global markets and volatility in the local property sector,” said Francis Koh, Managing Director and Group CEO of Koh Brothers. “2012 had been a year of exciting developments, as we launched our latest property development, the 486-unit sporting themed Parc Olympia condominium, secured new contracts, entered into strategic joint ventures and announced the proposed acquisition of an EPC (Engineering, Procurement & Con

Feb 19, 2013 - PropertyGuru.com.sg The Malaysian government has no plans to raise the RM500,000 (S$199,870) minimum entry for foreign property buyers, according to Housing and Local Government Minister Datuk Seri Chor Chee Heung. While the ministry had considered increasing the minimum price, it found that foreigners accounted for less than 10 percent of overall transactions, with Singaporeans making up about five percent. Nevertheless, “the government may review the ceiling price in future”, said Chor, adding that the base price is a bit low considering the current circumstances. Meanwhile, Malaysia is fast becoming South East Asia’s education hub, attracting many parents from the region, especially from China to buy properties in the country for their children, he noted. However, “property buyers should see the properties personally instead of making their decision solely on online information”, he said to the media after launching a new property portal called

Feb 19, 2013 - PropertyGuru.com.sg Prime Minister Lee Hsien Loong and his Malaysian counterpart Datuk Seri Najib Tun Razak today graced the unveiling of the design of Marina One, an integrated development in Singapore’s new central business district. Developed by M+S Pte Ltd, a 60:40 joint venture between Malaysia’s Khazanah Nasional and Singapore’s Temasek Holdings, the project will have a gross floor area (GFA) of 3.67 million sq ft and will comprise residential, office and retail components. The Marina One Residences will feature 1,042 luxury residences ranging from one- to four-bedroom units and penthouses within two towers. Meanwhile, Marina One Offices, Marina One East Tower and Marina One West Tower will generate 1.88 million sq ft of prime Grade A office space. The Heart, a retail podium spanning 140,000 sq ft will house shopping and lifestyle amenities. Designed by renowned architect Christoph Ingenhoven, the project integrates “avant garde design with

Feb 19, 2013 - PropertyGuru.com.sg La Fiesta (pictured) by EL Development topped the list of best-selling residential projects for the month of January recording sales of 404 units, reported Singapore Business Review. Located in Sengkang, the condo project released 500 units for sale last month at a median price of S$1,163 psf, according to data from the Urban Redevelopment Authority (URA). In January, a total of 2,013 private homes excluding executive condominiums (ECs) were sold while 1,799 units were launched.  After La Fiesta is Q Bay Residences in Tampines developed by Far East Organization, Frasers Centrepoint and Sekisui House. 520 units were launched of which 372 were sold at a median price of S$1,012 psf. In third spot is CapitaLand’s d’Leedon on the site of the former Farrer Court, which sold 263 units at a median price of S$1,406 psf. The top 10 best-selling projects include The Topiary EC at Fernvale Lane by UOL and Kheng Leong (100 units at a median

Feb 19, 2013 - PropertyGuru.com.sg Compared to the last four years, fewer Singaporeans are selling their flats which have obtained the Minimum Occupation Period (MOP), reported The Straits Times. Data from the Housing and Development Board (HDB) revealed that 11.8 percent of homeowners sold their property after the five-year MOP, compared to between 2008 and 2011 when those selling their flats jumped from 4.3 to 18.3 percent. The data applies to units bought directly from the HDB. Analysts attributed the fall to various factors, among them the high prices and restrictions imposed after selling the unit. “The fact that more people are reluctant to sell their flats is a sign that they have difficulty gaining entry into the private property ladder,” said Ku Swee Yong, Chief Executive of International Property Advisor. Flat owners could also be holding on to their units as they expect them to appreciate further in the future. In fact, resale prices of HDB flats rose

Feb 19, 2013 - PropertyGuru.com.sg Singapore investors and developers are expected to play a major role in Iskandar Malaysia’s property market, reported The Star. A source said that Singapore-owned Temasek Holdings had last year acquired a 30 percent stake in Central Malaysian Properties (CMP) for RM300 million (S$120 million). According to the source, Temasek is set to increase its stake moving forward, which could pave the way for corporate restructuring. CMP is the developer behind Lido Boulevard in Johor, a new waterfront development opposite the Grand Palace which is expected to yield a gross development value (GDV) of RM4 billion (S$1.6 billion). “Work on the project has been temporarily halted and will resume after the completion of the restructuring exercise,” said the source. Aside from Temasek, other Singaporean investors are also banking on Iskandar’s potential. “Initially they were rather sceptical but after seeing the development taking place (i

Channelnewsasia.com 20 February 2013 1953 hrs SINGAPORE : Office rents in Singapore's Central Business District (CBD) are about 52 percent cheaper than Hong Kong's last year. According to the Office Space Across the World 2013 report by Cushman & Wakefield, Singapore rents fell 16 percent year-on-year. The property consultancy firm expects rentals to bottom out in 2013 and forecast increases in late 2013 or early 2014. Sigrid Zialcita, Managing Director for Cushman & Wakefield's Research team in Asia Pacific said, "Singapore's rent ranking globally and regionally slipped in 2012, which is emblematic of conditions in other financial centres in the region. The combination of below-trend leasing activity and relatively elevated vacancies in super-Grade A space have kept rents on a downtrend over the past year, and among the lowest compared to other financial centres including Hong Kong, Tokyo, Sydney and Shanghai." Meanwhile, Sin

Channelnewsasia.com Posted: 19 February 2013 2336 hrs JOHOR BAHRU: Singapore's Prime Minister Lee Hsien Loong and his Malaysian counterpart Najib Razak unveiled two projects at Medini Iskandar Malaysia on Tuesday. The gross development value of the projects are estimated to be about RM3 billion ringgit. The Afiniti Medini urban wellness project has a total gross floor area of some 700,000 square feet and it will be completed in 2015. It is developed by Pulau Indah Ventures - a 50:50 joint venture project between Khazanah Nasional and Temasek Holdings. Among the key offerings are wellness, hospitality, retail and corporate training facilities. For example, CIMB will base its Leadership Academy, while Parkway Pantai is building a health and wellness centre. Meanwhile, CapitaLand's Ascott will be managing a 310-unit serviced residence property. Ascott, representing CapitaLand as project manager for Afiniti, said the developm

Percentage who sell after minimum occupation period dips, reversing trend The Straits Times - February 18, 2013 A HIGHER percentage of home owners are holding on to their Housing Board flats, reversing a trend that had been rising in the past four years. According to data from the Housing Board yesterday, the percentage of home owners who sold their property within the year after it hit the five-year minimum occupation period (MOP) was 11.8 per cent last year. It had been climbing steadily, from 4.3 per cent in 2008 to 18.3 per cent in 2011. These figures are for flats bought directly from the HDB. Property analysts say the drop can be attributed to various factors, chief among them being sky-high private property prices that deter HDB upgraders, and restrictions incurred after selling a flat. International Property Advisor chief executive Ku Swee Yong said: "The fact that more people are reluctant to sell their flats is a sign that they have difficul

Skies Miltonia and The Miltonia Residences are among a number of new residential launches in Yishun in recent years The Straits Times - February 16, 2013 YISHUN may be one of Singapore's largest and most mature property estates, but it tends to be seen as a quieter cousin to neighbouring towns such as Ang Mo Kio and Woodlands. That could change as interest in the fast-emerging Iskandar development region just over the border in Malaysia grows stronger, according to property experts. Situated in the Republic's northern region, Yishun comprises both industrial and residential property - and is a natural jumping off point for Iskandar. A new highway, the Eastern Dispersal Link, has shortened considerably the travelling time between the Causeway and Iskandar. Yishun's industrial property market has been fairly dynamic in the past year, with a focal point of activity centred on the stretch between Yishun Avenue 6 and Yishun Avenue 7. This stretch includ

Rush to avoid new curbs, developer discounts lead to January sales spike The Straits Times - February 16, 2013 ONCE again, mass market homes were overwhelmingly the main driver of new home sales. Suburban condominiums accounted for nearly two-thirds of developer sales last month. The latest round of cooling measures, effective Jan12, led to higher sales as some buyers scrambled to avoid the curbs, while others were lured by developer discounts offered in their wake. But analysts said demand would likely slow down in the coming months, as the full effects of the measures sink in. The high-end market in the city centre and mid-tier market in the city fringe made up 17per cent and 19per cent of January developer sales respectively. The number of suburban private homes sold, at 1,287 in January, was more than double December's figure of 620. This helped to drive total developer sales to 2,013 units last month, 42.8 per cent higher than the number sold

Singapore Business Review | Commercial Property Feb 18, 2013 The best performer sold a total of 404 units. The Urban Redevelopment Authority has released the latest home sales figures for the month of January. Developers sold a total of 2,013 units (excluding ECs) on the back of 1,799 units launched. URA picked the Top 10 best selling projects for the aforementioned month with EL Development’s La Fiesta project landing on the top spot. It sold a total of 404 units in January (500 units were launched for the month). Click on the chart to see the rest of the sector’s best-performing developers. Martin Koh | 86666 944 | R020968Z Sherry Tang | 9844 4400 | R020241C Senior Sales Director DTZ Property Network Pte Ltd (L3007960A) Email: marshe_inc@yahoo.com.sg |  www.Marshe.sg  |  www.MarsheProperties.com  |  www.NewAgents.sg  | |  www.HUDCsg.blogspot.com  |  www.HUDCsingapore.com  | |  www.TanjongRhu.net  |  www.8RiverSuites.com  |