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Shoebox units remain popular with developers and buyers alike

THE latest move by the government to revise a guideline that caps residential units in projects outside the Central Area (CA) is laudable in its intent to curb excessive building of shoebox units and prevent new projects from posing a strain on local infrastructure. The updated rules come at a time when the proportion of shoebox units in residential projects have already come off their 2011-2012 highs to more rational levels. But given that... ...more

Singapore real estate continues to hold value for investors

AFTER years of lacklustre foreign institutional interest in the Singapore commercial property market, Singapore appears to be on the radar of foreign institutional investors again. Inflows from foreign institutional investors - namely equity and pension funds, insurance, sovereign wealth funds among others - into Singapore over the past three years between 2016 and 2018 year-to-date (YTD) amounted to S$5.3 billion in transaction value, almost... ...more

BCA eyes 'live' demonstration projects in digital push

Singapore A PLAN has been launched to encourage the building industry to go digital, by providing it with training, digital platforms and "live" demonstration projects. The aim is to have 40 to 60 construction sites by 2020 that implement Integrated Digital Delivery (IDD) technologies that cut out laborious paper-based processes and allow designers, builders and facility managers to communicate with one another digitally. The first 12... ...more

Billion-dollar en bloc candidates still in play, but will developers bite?

Singapore MANDARIN Gardens, a 99-year leasehold condominium, recently raised its asking price by nearly 12.5 per cent from S$2.479 billion to S$2.788 billion, after it was discovered that the land that the residential development is situated on had been undervalued by over S$300 million. This came after the Collective Sales Committee (CSC) carried out a check of the property's development baseline record. The "drastically increased baseline" that... ...more

HDB launches over 7,000 flats for sale, including first BTO project in Tengah

Singapore THE Housing and Development Board (HDB) launched 7,214 flats for sale on Tuesday under the Build-to-Order (BTO) and Sale of Balance Flats (SBF) exercise for November. There are 3,802 BTO units for sale, ranging from S$101,000 (excluding grants) for a two-room Flexi unit in non-mature estate Tengah, to more than S$472,000 (excluding grants) for a five-room flat in mature estate Tampines. For the first time, a total of 1,620 BTO flats at... ...more

Mandarin Gardens raises en bloc asking price to S$2.79b

Singapore IF the owners of the Mandarin Gardens condominium have their way, the 99-year leasehold development in East Coast Road could be sold for a new record price of S$2.79 billion. This is 12.5 per cent more than the original asking price of S$2.48 billion, and higher than the previous mark set by Pandan Valley's S$2.6 billion, according to a report published by TODAY on Sunday. The report quoted Leonard Jayamohan, the spokesman for Mandarin... ...more

Property development boosts CDL's Q3 net profit

Singapore CITY Developments (CDL) said strong contribution from property development, especially its New Futura condo in Leonie Hill Road in Singapore, helped to boost the group's third quarter net profit by 10.4 per cent to S$161.8 million from the previous year. For the three months ended Sept 30, revenue increased 17.7 per cent to S$1.02 billion from the year-ago period. CDL said that besides New Futura, profit was booked during Q3 FY2018 from... ...more

Ho Bee Land's Q3 profit up on higher share of associates' profits

Singapore BOOSTED by higher share of profits of associates, property developer Ho Bee Land's third quarter net profit rose nearly 25 per cent year on year to S$67.75 million. Share of profits of associates leapt about 54 per cent to S$44.21 million, thanks to development projects in Shanghai and Zhuhai. Total revenue increased nearly 20 per cent from a year ago to S$52.33 million on the back of a bump in rental income from Ropemaker... ...more