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Smaller plots still in en bloc game

Singapore PROPERTY owners sitting on smallish plots of land are still hopeful of pulling off en bloc deals despite recent cooling measures, which are seen to hit large residential sites hardest. Owners at the freehold, 12-unit development Casa Sophia are putting up their Mount Sophia homes for a reserve price of S$36 million. If a sale is successful at that price, each owner could receive between S$2.69 million and S$3.4 million. The development,... ...more

GuocoLand bags Casa Meyfort for S$320m

Singapore GUOCOLAND on Tuesday announced that it has exercised the option to buy freehold condominium, Casa Meyfort along Meyer Road through a collective sale for S$319.88 million. The price works out to about S$1,580 per square foot per plot ratio (psf ppr), including an estimated development charge of S$57.2 million. The Business Times understands that this could be one of the last few collective sales for a private residential property to be... ...more

More visibility needed in renewal of land tenure for industrial Reits

THE government's move to shorten industrial land leases has clearly served its purpose well in keeping costs down for end-users. On the other hand, it has been a bane for industrial Reits, which have found limited room for expansion locally and sought out greener pastures overseas in recent years. But as the land leases of their existing properties are increasingly run down, industrial Reits are stuck between a rock and a hard place if they... ...more

OKP contract to build TPE-PIE viaduct ended

Singapore THE Land Transport Authority (LTA) and a unit of homegrown construction company OKP Holdings have mutually agreed to terminate a contract to build TPE-PIE Changi viaduct effectively from Monday. A new replacement tender will be called later this month, LTA said in a media statement on Monday afternoon. The contract termination is expected to have a negative impact on the earnings per share and net tangible assets of the company and the... ...more

Horizon Towers back on collective sale market with S$1.1b reserve price

Singapore IN 2009, the S$500 million collective sale bid of Horizon Towers fell apart following a rancorous dispute among the owners, and the Court of Appeal's finding that the sales process was improperly handled. Now, the 211-unit development in prime district 9 is back on the market - this time, asking for more than twice that price. This could well be the first billion-dollar deal in the current en bloc upcycle if the sale goes... ...more

Hong Leong Group bags Hillview Rise GLS site for S$460m

Singapore THE Hong Leong Group has clinched the 154,000 sq ft Hillview Rise residential site with a top bid of S$460 million - thanks in part to its proposed innovative construction methods and management with a focus on productivity. Intrepid Investments and Garden Estates, subsidiaries of Hong Leong Holdings and Hong Realty respectively, submitted the top bid among a shortlist of six proposals for the 99-year site. Based on a 430,879 sq ft... ...more

Building on a strong foundation

FOR the past few years, the construction sector has been languishing as the property market remained soft due to cooling measures that dampened demand. Small and medium-sized enterprises (SMEs) have been especially hard hit. As the pie continues to shrink, some smaller players have since bowed out amid cut-throat competition for tenders. Many SMEs have resorted to taking up jobs that are financially not viable just to keep busy. But with the... ...more

Two small condos launched for collective sale

Singapore TWO small condominiums suitable as sites for boutique developments were launched for collective sale on Tuesday, adding to the growing list of sites in the private en bloc market looking for a buyer. One is Jansen Mansion, a 12-unit development near Kovan MRT station, and the other is Blossom Mansions, a development with 20 units in Lorong 37 Geylang. The owners are asking for S$22 million and S$32.8 million respectively. Marketing... ...more