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New Jurong buzz triggers red-hot response at condo launch

In an unusual occurrence in today's lacklustre private residential market, a condominium launch over the weekend drew a red-hot response. Lake Grande, a 710-unit condo along Jurong West Street that is being developed by MCL Land, released 500 units for sale on Saturday. About 87 per cent of these apartments - or 436 in total - were sold at an average price of $1,368 per sq ft. MCL Land chief executive Koh Teck Chuan said 83 per cent of the transactions were for the one- and two-bedroom units. Se ...more

Keppel and CapitaLand groups sweep corporate governance 'Oscars'

Singapore THE leading lights of the local business scene clinched top honours on Tuesday evening at the prestigious 11th Singapore Corporate Awards (SCA), which honours Singapore-listed companies for excellence in corporate governance. Also known as the Oscars for Singapore-listed companies, the glitzy ceremony at Resorts World Sentosa saw a total of 32 companies and six individuals taking home prizes, with the list of winners this year led by the Keppel group, which swept five awards and the Ca ...more

Setting FCL on a long-term growth path

FRASERS Centrepoint Limited (FCL) chief executive Lim Ee Seng was handed a tall order to double the group's net profit within seven years when he joined as group CEO in 2004. The market was in the doldrums, with FCL facing a pile of unsold residential stock that was long completed. But within a span of five years, Mr Lim managed to double the net profit of FCL, then the property arm of conglomerate Fraser and Neave (F&N), from S$170 million to S$340 million. The unsold inventory of over 1,300 re ...more

2 HDB projects get ABC Waters certification

Two of the Housing Board's (HDB) upcoming integrated developments will combine form with function in design features that will incorporate water with public spaces, and reduce its wastage. Oasis Terraces, a neighbourhood centre in Punggol, and Kampung Admiralty, a senior-friendly complex that includes studio apartments and other amenities, will both feature rain gardens and vegetated swales that will help to clean rainwater run-off for use in irrigation, for example. Yesterday, they were among 1 ...more

Smart tools to drive HDB town planning

From a location map that guides city planners on where best to locate eldercare centres, to a text mining tool that reflects the most pressing concerns of residents, the Housing Board (HDB) is making a new push towards incorporating technology in town planning efforts. HDB chief executive Cheong Koon Hean outlined how the authority plans to create community-based and sustainable towns at the 2016 World Cities Summit Singapore (WCS) on Tuesday. One of the tools she mentioned was the award-winning ...more

Asia Square Tower 1 sets Asia-Pac record

Singapore SINGAPORE'S Asia Square Tower 1 has set the record of being the largest single-asset and office transaction in the Asia-Pacific region with a sale value of US$2.45 billion, according to real estate consultancy JLL. The 43-storey retail and office building was sold earlier this month by global investment management firm, BlackRock, to Qatar Investment Authority's sovereign wealth fund According to figures released by JLL, the sale of the property exceeded the previous largest single-ass ...more

New CBD in Jurong to offer flexible spaces for future economy

Singapore SINGAPORE'S second central business (CBD) district, the Jurong Lake District (JLD), will feature adaptable spaces for the future economy, given that business cycles will be shorter, and that businesses will have to adopt rapidly emerging technologies and more flexible business models. CBRE's managing director of industrial and logistics for Asia, Dennis Yeo, welcomed the announcement by the Urban Redevelopment Authority (URA) on Monday about the approach taken in the master planning of ...more

Lum Chang MD and sons launch takeover offer for Ellipsiz

Singapore MEMBERS of the family that controls construction company Lum Chang Holdings have launched a takeover offer for Ellipsiz, a semiconductor equipment provider. They are offering S$0.38 for each share of the mainboard-listed firm which it does not already own, it said in a Singapore Exchange filing released on Thursday evening. The offer price values Ellipsiz, which offers products and services to the semiconductor industry, at about S$63.5 million. Lum Chang managing director David Lum Ko ...more