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The Straits Times  |  April 19, 2013 Residents of nearby estates upset they now have to take a longer route A two-year battle over a walkway between two groups of residents came to a head this week when the path was closed. The newly privatised Shunfu Ville in Thomson, formerly an HUDC estate, closed a walkway that cuts through the estate to the main road - leaving 500 residents in nearby landed properties outraged. The footpath leads to Marymount MRT station, a bus stop, Shunfu market and a PAP Community Foundation kindergarten. With it closed, residents who live in the Thomson Garden area have to take a longer path of about 500m to 600m, a route that is "punishing" for the large group of elderly people in the neighbourhood. "When I need to see the doctor, I need to walk one big round to take a taxi. When I walk to the market, it is very hard for me," said Madam Chiam Lan Hen, 76, who has just undergone knee surgery and relies o

The Straits Times  |  April 19, 2013 An all-in bidding battle among 11 developers for a plum plot in Tiong Bahru ended up smashing price records for a residential site. The land in Kim Tian Road drew a top bid of $550.28 million, or $1,163 per sq ft (psf) per plot ratio (ppr), from Keppel Land's Harvestland Development. That is the highest price per square foot ever tendered for a purely residential site in the Government Land Sales (GLS) programme. It beat the old record set last August when Far East Organization offered $1,108 psf ppr, or $45.8 million, for a small Farrer Road site. It also trumped analysts' predictions that the top bid would not exceed $920 psf ppr with no more than 10 bidders in the fray. At over half a billion dollars, the total amount is also among the largest sums ever bid for a GLS residential site. The next two bids also went through the roof - a Far East Organization-led consortium offered $1,085 psf ppr, or $513.

The Straits Times  |  April 19, 2013 Government has no plans for another round of cooling measures for now Property prices remain high but they are moving in the right direction, said Deputy Prime Minister Tharman Shanmugaratnam, adding that the Government has no plans for another round of cooling measures for now. The Government is determined to lower the prices of homes relative to incomes, he added, but does not want to cause a crash in the short term. "We're not planning another round of measures, but it depends on market conditions," said Mr Tharman, who is also Finance Minister and chairman of the Monetary Authority of Singapore (MAS). "We're determined to achieve our objective of having prices come down relative to incomes. And that can be achieved both through income growth as well as some stabilisation or even cooling of prices, he said. His comments came amid speculation that more cooling measures could follow th

http://www.kepcorp.com/  |  April 18, 2013 Keppel Land Limited (Keppel Land), through its wholly-owned subsidiary, Harvestland Development Pte Ltd, has topped the bids for a prime residential site at Kim Tian Road located next to Tiong Bahru MRT station for $550.28 million. When awarded the site by the Urban Redevelopment Authority (URA), Keppel Land plans to develop about 500 homes, ranging between 500 sf and 1,350 sf in one- to four-bedroom configurations. Mr Tan Swee Yiow ( 陈 瑞耀 ), President (Singapore) of Keppel Land, said, "This is Keppel Land's first project in Tiong Bahru and will add to our strong portfolio of quality properties in well-located areas. Tiong Bahru is an established residential estate which is well-connected by public transportation and well-served by a wide range of facilities and amenities. We are confident that we will see positive demand from homeowners who aspire to own a top quality home in the CBD's fringe."