Observers welcome Govt’s concern over ageing HDB leases

Remarks from National Development Minister Lawrence Wong that the Government is looking into the ageing Housing Board lease issue were mostly welcomed by observers yesterday, even as concerns remained over the fate of older flats. ERA Realty key executive officer Eugene Lim welcomed the Government's move to "look seriously into more solutions to tackle the [...]

2018-05-21T11:29:36+08:00May 21st, 2018|Property News|

Chinatown Plaza sells en bloc for $260m

Chinatown Plaza has been sold for $260 million to a property unit affiliated to Singapore-based RGE (Royal Golden Eagle), the pulp and paper and palm oil giant founded by Sukanto Tanoto. The price translates to a land rate of $1,915 per sq ft per plot ratio (psf ppr). Located in Craig Road, Chinatown Plaza has [...]

2018-05-21T11:28:06+08:00May 21st, 2018|Property News|

Extending leases for older HDB flats ‘will have serious trade-offs’

Amid calls for automatic lease extensions for older public flats, Minister for National Development Lawrence Wong has said that the issue involves serious trade-offs and ramifications. One key matter is that despite the government's best efforts at planning, "we are still severely constrained by space in Singapore", he said in Parliament on Thursday. "If there is [...]

2018-05-18T14:11:14+08:00May 18th, 2018|Property News|

Two more District 9 sites launched for collective sale

Two freehold developments in the prestigious Cairnhill enclave of prime District 9, completed in the 1980s, have been launched for collective sale through public tender. Owners of the 36-unit Cairnhill Astoria in Cairnhill Rise are asking for at least S$196 million, while owners of the 18-unit Trendale Tower at Cairnhill Road have put up the development with [...]

2018-05-17T11:39:05+08:00May 17th, 2018|Property News|

Cavenagh Gardens, Flynn Park, Rosalia Park join

The collective sale fever continues, as five freehold residential sites with a total value of over S$1.2 billion were launched for sale. The five sites are Cavenagh Gardens off Orchard Road; Flynn Park in Pasir Panjang; Rosalia Park near Serangoon Central; La Ville at Tanjong Rhu Road; as well as the joint sale of three [...]

2018-05-17T11:36:48+08:00May 17th, 2018|Property News|

RESIDENTIAL MARKET Far East bags coveted Holland site for S$1.2b

A consortium led by property giant Far East Organization, which has clinched a coveted commercial and residential site in Holland Road, is planning a development with apartments for sale, dual office/residential use units, offices, retail space and serviced residences on the site. Far East Organization executive director of property services Augustine Tan, on behalf of [...]

2018-05-17T11:35:16+08:00May 17th, 2018|Property News|

70% of apartments released in New Futura Phase 2 sold

Luxury condo New Futura has seen 21 of 30 units released over the weekend at its 60-unit North Tower snapped up at an average selling price of over S$3,500 per square foot (psf), City Developments Limited (CDL) said in a statement on Tuesday. A majority of the units during this second phase soft-launch were bought by [...]

2018-05-16T10:44:10+08:00May 16th, 2018|Property News|