Author: leahlim   |   Latest post: Thu, 19 Sep 2019, 3:07 PM


CapitaLand receives international recognition for sustainability efforts

Author: leahlim   |  Publish date: Thu, 19 Sep 2019, 3:07 PM

SINGAPORE (EDGEPROP) - CapitaLand has been listed on Dow Jones Sustainability World Index and the Global Real Estate Sustainability Benchmark, receiving international recognition for its sustainability efforts.
The real estate developer is one of two Singapore companies on the DJSI World Index this year, and has been listed on the index for eight years running. CapitaLand has also been listed on the Dow Sustainability Asia Pacific Index for 11 years running, making it the first and longest-standing company to be listed consecutively on the index.


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SC Global collaborates with K11 ARTUS on Cuscaden Reserve

Author: leahlim   |  Publish date: Thu, 19 Sep 2019, 12:04 PM

SINGAPORE (EDGEPROP) - The 192-unit Cuscaden Reserve, developed by Singapore developer SC Global, together with two Hong Kong-listed developers and hotel operators, New World Development and Far East Consortium, will be managed in collaboration with K11 ARTUS from K11 Group.
The 28-storey Cuscaden Reserve, to be featured in an upcoming launch, is a luxurious residence located in the more exclusive perimeters of Orchard Road. It is flanked by The Four Seasons, St Regis and The Regent hotels, and is less than 200 metres from the upcoming Orchard Boulevard MRT Station.


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[UPDATE] Meyer Mansion tops launch sales; The Antares sells 20% of 90 units released

Author: leahlim   |  Publish date: Thu, 19 Sep 2019, 9:17 AM

SINGAPORE (EDGEPROP) - Three projects were launched over the weekend of September 14-15, namely Meyer Mansion on Meyer Road in prime District 15; The Antares on Mattar Road, near Aljunied Road and Macpherson Road in District 14; and Uptown @ Farrer, located off Race Course Road and Serangoon Road in District 8.

According to GuocoLand Singapore, 21 units at the 200-unit Meyer Mansion were sold at an average price of $2,747 psf. Some units even crossed the 3,000 psf.


Read more:  https://www.edgeprop.sg/property-news/meyer-mansion-tops-sales-launch-weekend


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[UPDATE] 313@somerset sold to upcoming Lendlease Global Commercial REIT for just over $1 bil

Author: leahlim   |  Publish date: Wed, 18 Sep 2019, 3:26 PM

SINGAPORE (EDGEPROP) - On Aug 23, Lendlease Retail Investments 1 Pte Ltd, which owns 313@somerset, sold the property for $1.003 billion to RBC Investor Services Trust Singapore Pte Ltd in its capacity as trustee of Lendlease Global Commercial REIT. This was according to a property title search. Lendlease Global Commercial REIT lodged its prospectus on Sept 16, 2019.

The Reit is expected to have an initial portfolio of two properties, 313@somerset in Singapore, and Sky Complex, which comprises three office buildings in Milan, Italy.


Read more:  https://www.edgeprop.sg/property-news/313somerset-sold-upcoming-lendlease-global-commercial-reit-just-over-1-bil

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Redas: Increase in private residential prices not reflective of market conditions

Author: leahlim   |  Publish date: Wed, 18 Sep 2019, 12:44 PM

SINGAPORE (EDGEPROP) - Singapore developers are concerned with the current market situation of “high supply and subdued demand”, says Chia Ngiang Hong, president of the Real Estate Developers Association Singapore (Redas), at the association’s Mid-Autumn Festival Lunch today (Sept 13).
While the private residential property market has seen more activity in recent months, Chia highlights that the price increase of 1.5% in 2Q2019, “does not reflect the true state of the market”.


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Tanjong Pagar pilots Business Improvement District programme

Author: leahlim   |  Publish date: Wed, 18 Sep 2019, 8:47 AM

SINGAPORE (EDGEPROP) - Eight property and business owners at Tanjong Pagar are collaborating to form Discover Tanjong Pagar. The precinct was the first out of nine precincts to take-off the Business Improvement District (BID) programme announced by the Urban Redevelopment Authority (URA) in September last year.
The eight stakeholders in this pilot are Carlton City Group’s Carlton City Hotel Singapore; OUE’s Downtown Gallery; GuocoLand Singapore’s Guoco Tower; Far East Organization’s Icon Village; Tian Teck Group’s International Plaza; Far East Hospitality’s Oasia Hotel Downtown Singapore; the owner of Orchid Hotel; and Sofitel Singapore City Centre.


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Resale four-bedder at Astrid Meadows earns record $3.45 mil profit

Author: leahlim   |  Publish date: Tue, 17 Sep 2019, 3:16 PM

SINGAPORE (EDGEPROP) - The two most profitable deals recorded for the week of Aug 27 to Sept 3 were the sales of two 3,800 sq ft, four-bedroom units at the freehold Astrid Meadows on Coronation Road West in prime District 10.
The most profitable deal occurred on Aug 30, when a fifth-floor unit changed hands for $6.95 million ($1,829 psf). It had been bought for $3.5 million ($921 psf) in October 2005, which means the seller walked away with a $3.45 million profit (99%), or an annualised profit of 5% over a 14-year holding period.


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Demand still strong for Leedon Park GCBs

Author: leahlim   |  Publish date: Tue, 17 Sep 2019, 11:47 AM

SINGAPORE (EDGEPROP) - A Good Class Bungalow (GCB) located on the corner of Leedon Park and Bin Tong Park was sold at end-July for $28 million, or $1,476 psf based on its 18,970 sq ft land area.
“The buyers were a family specifically looking for a GCB in the Leedon Park estate,” says Charles Wong, property consultant at PropNex. He represented the buyers in the sale.


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UNDER THE HAMMER: Draycott Eight unit for sale at $2.4 mil

Author: leahlim   |  Publish date: Tue, 17 Sep 2019, 9:44 AM

SINGAPORE (EDGEPROP) - A 1,561 sq ft unit at Draycott Eight along Draycott Park in District 10 will be put up for auction on Sept 25. This is an owner’s sale with a guide price of $2.38 million ($1,524 psf), according to Edmund Tie, which is handling the auction.
The 21st-floor unit has two bedrooms, and both overlook the greenery of Goodwood Park and its black-andwhite bungalows, says Joy Tan, head of auction and sales at Edmund Tie. Residents of the unit will also be served by a private lift, and will be greeted by a spacious living room with doublevolume ceiling height upon entering, Tan says. The unit is also north-south facing.


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Ascott takes on co-living with lyf

Author: leahlim   |  Publish date: Mon, 16 Sep 2019, 3:00 PM

SINGAPORE (EDGEPROP) - The Ascott Ltd is pushing the boundaries for its first co-living venture. Unlike other hospitality properties, residents at lyf Funan will be greeted by the sights and sounds of a laundromat foaming and frothing to the cycle of soiled laundry. “No hotel, no serviced apartment, no co-living space has put a laundromat in front, at the entrance,” says Tan Gan Hup, lyf chief and assistant VP for brand & marketing, digital innovation and lyf at The Ascott Ltd. “But then again – why not?”
Shrugging off the usual hospitality conventions, lyf Funan will fit the laundry area with a beer vending machine. “While you’re washing your clothes, you can actually interact with people,” says Tan. “It’s all about … giving people the opportunity to connect if they want to.”


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[UPDATE] Last penthouse at 3 Orchard By-the-Park sold for $32 mil

Author: leahlim   |  Publish date: Mon, 16 Sep 2019, 11:30 AM

SINGAPORE (EDGEPROP) - Another penthouse has just been sold at 3 Orchard By-the-Park, the luxury condo located along the prestigious, tree-lined Orchard Boulevard. The five-bedroom duplex fetched $32 million earlier this month, according to a property title search. Based on the floor area of 6,900 sq ft, the price translates into $4,638 psf.

The buyer is believed to be a Chinese national, and the deal is said to be brokered by Savills Residential, one of the joint marketing agents for 3 Orchard By-the-Park.


Read more  https://www.edgeprop.sg/property-news/designer-penthouse-3-orchard-park-sold-32-mil


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Tenders awarded for three GLS sites

Author: leahlim   |  Publish date: Mon, 16 Sep 2019, 8:06 AM

SINGAPORE (EDGEPROP) - Tenders for three Government Land Sales (GLS) sites were awarded by the URA on Sept 12. The tenders for the sites, at Tan Quee Lan Street, Bernam Street and one-north Gateway, closed on Sept 5 and were awarded to the three highest bidders.
The 124,116 sq ft site at Tan Quee Lan Street was awarded to GLL D Pte Ltd, Intrepid Investments and Hong Realty, a joint venture between GuocoLand and subsidiaries of Hong Leong Holdings. They submitted a top bid of $800.2 million, which translated to $1,535 psf per plot ratio (ppr).
Read more:


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Two-storey Jervois Road GCB up for sale at $38.8 mil

Author: leahlim   |  Publish date: Fri, 13 Sep 2019, 2:34 PM

A two-storey, freehold Good Class Bungalow (GCB) at Jervois Road is up for sale at $38.8 million. With a land area of 19,333 sq ft, the price translates to $2,007 psf. JLL is the exclusive marketing agent.
Situated along Jervois Road, off River Valley Road, in prime District 10, the GCB is minutes away from Orchard Road and the CBD. It has wide frontage of close to 40m and provides an opportunity for redevelopment.


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HDB releases 4,089 flats for sale

Author: leahlim   |  Publish date: Fri, 13 Sep 2019, 12:21 PM

SINGAPORE (EDGEPROP) - On Sept 11, the Housing and Development Board (HDB) released 4,089 flats for sale, with 3,373 Build-To-Order (BTO) flats, and 716 re-offered balance (ROF) flats. This will be the first sales exercise where eligible first-time HDB flat buyers can benefit from the higher income ceilings and Enhanced CPF Housing Grant (EHG), which kicked in on the same day.
“The September 2019 sales launch will likely be well-subscribed with the recent announcement of the EHG,” notes Ismail Gafoor, CEO of PropNex Realty, who adds that “with the increased income ceiling of up to $9,000 for grants, more buyers will now qualify to purchase BTO flats in both mature and non-mature estates”. He adds that now, “even middle-income families with household income of $6,000 will be able to qualify for a $35,000 grant”.


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First-time HDB flat buyers to get enhanced grant; income ceiling raised

Author: leahlim   |  Publish date: Fri, 13 Sep 2019, 8:46 AM

SINGAPORE (EDGEPROP) - From Sept 11, first-time HDB homebuyers will receive an enhanced housing grant that provides flexibility on flat type and location. The income ceiling for eligible buyers has also been raised for the first time since 2015.
The new Enhanced CPF Housing Grant (EHG) simplifies the existing Additional CPF Housing Grant (AHG) and the Special CPF Housing Grant (SHG) of up to $40,000 respectively.


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Freehold hotel development site at Killiney Road for sale

Author: leahlim   |  Publish date: Thu, 12 Sep 2019, 2:46 PM

SINGAPORE (EDGEPROP) - A freehold hotel development site in the Orchard Road precinct is up for sale, for above $155 million. JLL’s Hotels & Hospitality Group and Cushman & Wakefield are joint exclusive advisers to Lucrum Capital for the sale of the site.
Located along Killiney Road, the site occupies a land area of 13,148 sq ft with a gross plot ratio of 2.8. Provisional permission has been obtained to rezone the site for hotel use. This would mean foreigners are also eligible to purchase with no additional buyer’s stamp duty or seller’s stamp duty imposed.


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Meyer Mansion sees steady stream of well-heeled visitors on preview weekend

Author: leahlim   |  Publish date: Thu, 12 Sep 2019, 11:12 AM

SINGAPORE (EDGEPROP) - When the sales gallery of Singapore-listed property developer GuocoLand’s Meyer Mansion opened for public preview on September 7, it drew about 300 groups of visitors; and more than 200 groups the following day (September 8), estimates Dominic Lee, head of luxury team at PropNex Realty, joint marketing agents of the project with ERA Realty Network, Huttons Asia and OrangeTee & Tie.

“It was a steady stream of mostly well-heeled visitors,” says Eugene Lim, ERA Realty. While some were residents from the East, others were from the prime Orchard Road Districts of 9, 10 and 11, he adds. “The appeal was the Meyer Road address, unblocked sea view and attention to detail in the design of the project, with layout that appeals to them.”

Read more:  https://www.edgeprop.sg/property-news/steady-stream-well-heeled-visitors-meyer-mansion-preview-weekend

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UPDATE: UOL sells 276 units at Avenue South Residence

Author: leahlim   |  Publish date: Thu, 12 Sep 2019, 9:28 AM

SINGAPORE (EDGEPROP) - On the first day of launch, as at 7.45 pm on Sept 7, UOL Group sold 276 out of 300 units released at Avenue South Residence. The sales translates to 26% of the total 1,074-units in the residential project developed jointly by UOL Group, UIC and Kheng Leong Co.

The buyers were mostly Singaporeans, comprising a mix of investors and owner occupiers, according to Jesline Goh, chief investment and asset officer of UOL Group. The most popular units were the one- and two-bedroom units, she adds. The three- and four-bedroom units also saw healthy take-up.


Read more:  https://www.edgeprop.sg/property-news/uol-sells-271-units-avenue-south-residence


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Triplex penthouse at Mount Faber Lodge going for $4.8 mil

Author: leahlim   |  Publish date: Wed, 11 Sep 2019, 3:26 PM

SINGAPORE (EDGEPROP) - Those who want a penthouse with a vantage point of the future Greater Southern Waterfront from the comfort of their own balcony need look no further than the triplex penthouse at Mount Faber Lodge.
Perched on the slope of Mount Faber Hill, the freehold Mount Faber Lodge stands out for its red-brick façade. The project was completed in 1983 and contains just 84 units. The project has sizeable units, ranging from 1,098 sq ft studios to two-bedroom units from 1,173 sq ft and three-bedroom units from 2,454 sq ft. The penthouses are all five-bedroom triplexes, occupying the sixth to eighth floors and sized from 3,703 to 3,724 sq ft. There just 20 such penthouses within the development.


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Ascott opens Southeast Asia’s largest coliving space lyf Funan Singapore

Author: leahlim   |  Publish date: Wed, 11 Sep 2019, 11:40 AM

SINGAPORE (EDGEPROP) - Ascott, CapitaLand’s wholly-owned lodging business unit, has opened lyf Funan Singapore, the largest coliving property in Southeast Asia. It is also the world’s first property under Ascott’s new ‘lyf’ coliving brand.
Managed by millennials for millennials and millennial-minded, lyf Funan Singapore is an integral part of CapitaLand’s Funan integrated development, which also comprises two office blocks and a mall offering cutting-edge retail concepts, coworking spaces, to name a few.


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