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Pacific Star Devt to take full control of Puteri Cove project for S$26m

Singapore PACIFIC Star Development (PSD) is buying out its joint venture partner in the Puteri Cove Residences project to facilitate the obtaining of a S$70 million loan facility, the property developer announced late on Monday. PSD will face an outlay of S$26 million to buy out Max Treasure Co, the partner in Twin Prosperity Group, which is in turn the holding company of the Puteri Cove project in Malaysia. The two-part transaction will involve... ...more

Yongnam bags deals worth S$73.4m

Singapore MAINBOARD-LISTED Yongnam Holdings has secured new contracts in Australia and Singapore worth S$73.4 million, the structural steel and specialist civil engineering firm announced in a Singapore Exchange filing on Wednesday. Yongnam said the contracts are expected to have a positive impact on its financial performance for the year ending Dec 31, 2018. The firm is entering Australia for the first time with several specialist civil... ...more

JTC launches last 4 industrial sites under confirmed and reserved lists for H2 2018

Singapore JTC has launched the last four industrial sites under the confirmed and reserved lists for the second half of the 2018 Industrial Government Land Sales (IGLS) Programme. Two sites are available for tender and two sites for application, meaning their tender will be triggered if a developer's indicated minimum price in its application is acceptable to the state. This is as opposed to confirmed list sites which are launched according to... ...more

Woodlands industrial site up for tender

Singapore JTC on Thursday said that it has accepted an application to put up an industrial site at Woodlands Avenue 12 for sale by public tender. The land parcel was made available for application through the Reserve List system under the second half 2018 Industrial Government Land Sales (IGLS) Programme. JTC said that it had received an application with a committed bid price of at least S$36 million. "As the minimum price committed by the... ...more

Constructing a bright future

THE distinctive name of construction company QXY Resources comes from the initials of founder and CEO Patrick Koh's children, and stems from the company's desire to venture beyond the construction business. Established in 2004 as a five-man building refurbishment contractor, QXY provides a range of services that has increased remarkably over the years. From basic repair and redecoration, addition and alteration services to building construction... ...more

Developers' November sales jump but challenges lie ahead

Singapore NEW sales of private homes jumped last month to nearly two and a half times that of the previous month as developers revved up launches to make up for lost ground when some of them held back launches in October. That pause was partly to ruminate about the impact on sentiment after the authorities announced revised guidelines to increase the average unit size for non-landed private residential developments outside the Central Area from... ...more

Noon Capital, Acre launch first project in Thailand

Singapore NOON Capital, a South-east Asia-based property developer and manager, on Monday announced a partnership with private real estate investment firm Asia Capital Real Estate (Acre). The two companies launched the first US$25 million project of a Thailand-focused real estate fund, which is targeted to grow up to US$150 million across at least six multi-family development projects. In a news release on Monday, Noon Capital said the decision... ...more

White site at Woodlands Ave 2 'likely to require deep pockets'

Singapore BIDDERS for the white site at Woodlands Avenue 2 made available for application under the Government Land Sales (GLS) reserve list are likely to be limited to consortiums and major developers with deep pockets, say market observers. This comes from the land parcel being big and tied to some development restrictions. The site is being lined up as a key anchor in the upcoming 100-hectare Woodlands Regional Centre, which is to be developed... ...more