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Two freehold sites going en bloc

Singapore PARK HOUSE in Orchard and St Michael's Condominium in Serangoon have joined the collective sale frenzy with guide prices of S$308 million and S$112 million respectively. The S$308 million reflects a land rate of approximately S$2,387 per sq ft per plot ratio, or S$2,170 per sq ft per plot ratio after taking into consideration the 10 per cent bonus gross floor area allowed for balconies. Owners of Park House's 56 apartments, which are... ...more

Oxley tipped to clinch Pei Fu Industrial Building

Singapore OXLEY Holdings is expected to clinch Pei Fu Industrial Building off Upper Paya Lebar Road in what could be the first collective sale of an industrial property to be awarded this year. The Business Times understands that the mainboard-listed group will be paying S$76.25 million for the freehold property in New Industrial Road. The expected transaction price, which surpasses the reserve price of S$75 million, works out to S$489 per square... ...more

Capital World aims to score with maiden project

AS the new kid on the block, Malaysian property developer Capital World must build out-of-the-box offerings to stand out among the big boys, its executive director and chief executive Siow Chien Fu believes. That ambition is encapsulated in the Catalist-listed company's maiden project, Capital City. The integrated development includes a 1.2 million sq ft complex housing MCM Studio, Malaysia's biggest indoor theme park concept, and Capital 21... ...more

Dunearn Gardens finds collective sale success on third attempt

Singapore THE collective sale frenzy continues unabated as Dunearn Gardens, a 114-unit freehold residential development located off Newton Road, becomes the latest to be sold on its third attempt. The sale was made to a fully owned subsidiary of EL Development Pte Ltd - the property arm of building firm Evan Lim Group - for S$468 million. Dunearn Gardens comprises three adjoining residential blocks, with apartment units ranging from 75 to 306... ...more

Choon Kim House launched for collective sale

Singapore FREEHOLD Choon Kim House, located along Upper Serangoon Road, has been launched for collective sale, its sole marketing agent JLL announced on Wednesday. Owners of the four-storey cum attic, mixed-use development are expecting bids above S$55 million. This would translate to a land rate of S$1,287 per square foot per plot ratio (psf ppr), or S$1,257 psf ppr after factoring in the 10 per cent bonus balcony for the residential component... ...more

Asia Gardens sold en bloc for S$343m to consortium

Singapore ASIA Gardens, located along Everton Road in the Spottiswoode enclave, has been sold for S$343 million via collective sale to a consortium here led by developer Sustained Land. The other partners are builder-cum-developer Ho Lee Group and an investment holding company fully owned by Loi Pok Yen, logistics company CWT's group chief executive. Owners at the 23-storey freehold development, which has 80 apartment units and four penthouses,... ...more

Construction for Singapore's end of high-speed rail expected to start in 2019

Singapore THE Land Transport Authority (LTA) has called tenders for the design and construction of tunnels and associated facilities for Singapore's end of the high-speed rail project connecting it with Kuala Lumpur. Construction is expected to start next year. "We called the tenders for the design and construction of twin bored tunnels and associated facilities on April 6, and the design and construction of cut-and-cover tunnels leading into the... ...more

Faber Garden on the market for S$1.18b

Singapore WITH a reserve price of S$1.18 billion, the freehold Faber Garden at Upper Thomson could be Singapore's largest collective sale deal so far this year and the second largest ever, if it succeeds. The site at Angklong Lane is being launched for sale by public tender on April 17. At the reserve price, the 233 residential apartment owners will receive a gross payout between S$4.38 million and S$6.75 million, while the three commercial shop... ...more