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Singapore Building & Construction Industry News

 

GCB in Lady Hill Road sold at S$24m or S$1,423 psf

 
Singapore THE Good Class Bungalow (GCB) market continues to buzz with activity. The latest transactions include an old freehold house along Lady Hill Road in a prime GCB location which changed hands for S$24 million. The price works out to S$1,423 psf based on the land area of 16,863 sq ft. This seems a relatively low psf price for a prime GCB location but that may have to do with the property's age - it is said to be about 20 years old and the fact that the plot slides downwards towards the rea ...more
 

GSH Corp debuts luxe condominium in KL

 
Singapore SGX-LISTED GSH Corporation Limited, a regional property developer, announced on Tuesday that its wholly owned subsidiary, City View Ventures Sdn Bhd, launched Eaton Residences, a 632-unit luxury condominium in the heart of Kuala Lumpur's city centre. Some 200 units have been released for the first phase of its launch, and as of Sept 20, 2016, about 150 units have been booked through VIP previews and private viewing. The property is strategically located along Embassy Row, minutes away ...more
 

$450m set aside to boost safety of HDB lifts

 
The Government will set aside $450 million to modernise public housing lifts, and ensure that costs are not a barrier to maintaining high safety standards. Under the new Lift Enhancement Programme (LEP) announced yesterday, town councils will get 90 per cent funding to install safety features recently recommended by the Building and Construction Authority (BCA) after a series of lift incidents. About 20,000 lifts are eligible and while no start date has been fixed yet, town councils will have 10 ...more
 

CLSA unit said to be doing due diligence on 77 Robinson Rd

 
Singapore CLSA Capital Partners is said to have been selected to do exclusive due diligence for the purchase of 77 Robinson Road. The pricing is believed to be above S$530 million, or slightly above S$1,800 per square foot based on the net lettable area (NLA) of nearly 293,270 sq ft. Formerly known as Singapore Airlines (SIA) Building, the 35-storey office tower is on a site with 99-year leasehold tenure that started on Feb 18, 1994; the balance lease tenure is about 76.5 years. What is interest ...more
 

Sponsorships for part-time postgrad students in building industry

 
For the first time, employees in the building sector will be sponsored for their part-time postgraduate studies, under a tie-up between the Building and Construction Authority (BCA) and industry firms. These 10 postgraduate students, who will continue to work while pursuing their studies, are among 210 recipients of the BCA-Industry joint sponsorships this year. Under the inaugural part-time postgraduate sponsorship award, 70 per cent of course fees are paid by BCA and the remaining 30 per cent ...more
 

Axe Brand family pays S$25m for pair of Bukit Pasoh shophouses

 
Singapore OCBC seems to be on a roll selling conservation shophouse properties of late. It recently sold a pair of adjacent freehold shophouses at 11 and 13 Bukit Pasoh Road for S$25 million. The buyer is understood to be the Leong family behind the famous homegrown Axe Brand medicated oil. The price works out to S$2,940 per square foot on the gross floor area (GFA) of 8,503 sq ft. The gross yield is about 1.5 per cent based on the existing rental income from the property. Spanning three storeys ...more
 

Finnish marine group puts up five industrial properties for sale

 
Singapore AS part of its global exercise to go asset-light, Wartsila Singapore - the Singapore unit of Finland-listed marine and energy player Wartsila - is putting up five industrial properties here for sale via an expression of interest (EOI). Two properties located at 11 Pandan Crescent and 14 Benoi Crescent will be sold on sale-and-leaseback arrangements, while the other three properties at 43, 45 and 47 Gul Drive are offered on an outright sale basis with vacant possession upon completion o ...more
 

110 Robinson Rd sold at S$45.1m to Indonesian tycoon Tahir

 
Singapore A STRING of commercial property transactions has taken place recently. These include a 12-storey freehold office block at 110 Robinson Road, owned by OCBC, which has sold it to Indonesian tycoon Tahir. The sale will be completed in three months, a spokeswoman for the bank said when contacted by The Business Times. The price is understood to be S$45.1 million or nearly S$3,169 per square foot based on the net lettable area of 14,233 sq ft. The property is between Finexis Building at 108 ...more
 
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