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Collective sale of Tanjong Katong development relaunched at $63 mil

Posted on April 11, 2023

At 52 to 62H Tanjong Katong Road in Singapore, a 26-unit walk-up development has been relaunched for tender at a guide price of $63 million – a reflection of the potential it has to offer buyers. The site has a land area of approximately 32,397 ft and is zoned for residential use, allowing a potential gross floor area of 45,356 ft.

The guide price translates to a land rate of $1,401 psf per plot ratio, including an estimated land betterment charge of $530,000. This could be reduced to $1,375 psf ppr after factoring in a 7% bonus balcony gross floor area. Since the property is only a 10-minute drive from the CBD and a 500m walk from Paya Lebar MRT Station, apart from having nearby shopping malls and recreational facilities, it is expected to be a popular choice for both professionals and young couples looking for amenity-rich locations.

Receiving several …

Two shophouses at Perak Road up for sale at $13 mil

Posted on April 10, 2023

Two conservation shophouses at 6 and 7 Perak Road have been released for sale via tender with a guide price of $13 million. This comes to $2,425 psf on their total floor area, which is a 5,360 sq ft spread across two storeys and mezzanine space. With approval for use as a backpackers’ hostel, this property is located in the Jalan Besar/Little India precinct and is a three-minute walk to the Rochor MRT Station.Given its strategic location in District 8, surrounded by amenities and close to the Bugis area, the properties are well-maintained and require minimal refurbishments, yielding a gross rental yield of more than 3 per cent for the future owner. This makes them an ideal opportunity for hostel operators to take advantage of incoming tourism post-pandemic as well as investors seeking strong rental and capital growth.The 11.4-metre wide frontage along Perak Road also has no buyer’s stamp duty …

JLL promotes Sandeep Sethi to Asia Pacific division president for work dynamics

Posted on April 7, 2023

Sandeep Sethi has been Bukit Batok EC appointed as the Division President of Work Dynamics in Asia Pacific by JLL. He will be in charge of JLL’s North Asia market and will be responsible for delivering services to clients. With over 27 years of experience in the corporate sector, 10 of which have been at JLL, he has been playing a key role in forming customer connections and growing the business. Moreover, Sethi will be responsible for increasing JLL’s North Asia market share in the mainland China and Hong Kong areas.

In his new function, Sandeep Sethi is set to report to Susheel Koul, JLL’s CEO for work dynamics in Asia Pacific. Koul remarked on Sethi’s appointment, stating that Marina Gardens Condo he is an experienced leader and an esteemed customer advisor who has an educated understanding of the ever-evolving commercial real estate segment. His appointment shows JLL’s dedication to …

Slow start to 2023 for real estate investment sales amid market uncertainties: Knight Frank

Posted on April 5, 2023

Marina Gardens Condo .

The start of 2023 saw a slow start in Singapore’s real estate investment market, with only $4.2 billion in recorded sales in the first quarter, according to the global real estate company Knight Frank. This marked a 61% decrease when compared to first quarter of 2022. It is also the lowest q-o-q total since 2Q2020, when the government imposed the “circuit breaker” due to the pandemic.

Residential investment totaled $1.6 billion during the first quarter of 2023, with the notable collective sales for Meyer Park, Bagnall Court and Holland Tower amounting to $583.8 million. The sale of Holland Tower is the first successful residential en bloc transaction in the Core Central Region (CCR) since property cooling measures were imposed in December 2021, marking a return of investment interest in prime locations, according to Chia Mein Mein, head of capital markets (land & collective sale) at Knight …

Shipyard at Benoi Road for sale at $11.3 mil

Posted on April 4, 2023

An industrial property located in Benoi Road, within Jurong Industrial Estate, is up for sale via an expression of interest (EOI) exercise. The property has a guide price of $11.3 million and enjoys 500,000 sq ft of site area with waterfront access.

According to Huttons Asia, the marketing agent in charge of the property, it is suitable for shipbuilding, ship or vessel repair and maintenance. The land has a corner frontage of around 255m along Benoi Road and Pioneer Road, with an average plot depth of 213m. To its east, it faces the waterfront with a roughly 230m frontage.

Isabel It, associate division director of Huttons Asia, says the land has a flat contour and is slightly elevated from the access road. The two-storey office block and single-storey annexe offices, three blocks of single-storey workshop, a mould loft building and a fabrication workshop are all located on the property.

Being …

GuocoLand sole bidder for Lentor Gardens GLS site at $985 psf ppr

Posted on April 4, 2023

The tender for a residential government land sale (GLS) site at Lentor Gardens closed today with just one bid from GuocoLand and Intrepid Investments, a subsidiary of Hong Leong Group. The two joint venture partners submitted a bid of $486.8 million, translating to a land rate of $985 psf per plot ratio (psf ppr).

Guoco Land has envisioned a new high-end residential development with around 533 units, and 600 sqm of childcare facilities for the site. The future development is intended to complement other two upcoming developments – Lentor Modern and Lentor Hills Residences – as part of plans to transform the Lentor Hills estate to be widely known as a premium residential area.

Mark Yip, CEO of Huttons Asia, observes that the $958 psf ppr bid is the lowest for a land parcel in the Lentor precinct. It is also the first residential GLS tender to see only one …

The Myst Condo by City Developments Limited Aries at Bukit Panjang MRT Station

Posted on April 1, 2023

The Myst CDL Condo a brand new development from City Developments Limited (CDL Aries), is situated at the core of Bukit Panjang and Cashew. CDL Aries has acquired the rights to the two adjacent plots at 798 and 800 Upper Bukit Timah Road in the Tan Chong industrial park in the north of Singapore. Spanning an area of 16,620 square metres (178,900 square feet) and with a plot ratio of 2.1, this residential property has been authorised to be built up to 24 storeys.

In recent years, the nation-state has attempted to enliven the Bukit Timah vicinity via multiple initiatives to facilitate better mobility and augment verdant areas in the area. The Railway Corridor scheme in the vicinity of The Myst Condo will be instrumental in converting prior railway tracks into a communal space. The Beauty World renewal plan, on the other hand, is intended to form a green urban …

City Developments Real Estate Developer Sustainability Efforts

Posted on April 1, 2023

City Developments Limited (CDL) is a Singapore-based real estate company that has been in operation since 1963. Over the years, CDL has expanded its operations globally and is now present in 30 countries across the world. The company has a diverse portfolio of properties that includes residential, commercial, and industrial properties, as well as hotels and serviced apartments.

Recent Developments

In the last few years, CDL has focused on expanding its presence in key markets across the globe. In 2018, the company entered into a joint venture with China’s largest developer, Vanke, to develop a residential project in Hong Kong. The project, called The Pavilia Bay, is a luxury residential development that is situated in the Tai Po district of Hong Kong. The development consists of 983 units, ranging from one to four-bedroom apartments, and is set to be completed in 2022.

In addition to its joint venture with Vanke, …

Why Bukit Panjang Is The Preferred Housing Estate for Singaporeans

Posted on April 1, 2023

Bukit Panjang, a town located in the western region of Singapore, has become increasingly popular among Singaporeans as a preferred housing estate. With a variety of housing options, amenities, and accessibility, it is no wonder why Bukit Panjang has become a top choice for many. In this article, we will explore the reasons why Bukit Panjang is the preferred housing estate for Singaporeans.

Affordable Housing Options

One of the key reasons why Bukit Panjang is popular among Singaporeans is because of its affordable housing options. With a range of housing options from HDB flats to private condominiums, there is something for everyone. The HDB flats in Bukit Panjang are particularly popular among young couples and families as they offer spacious living spaces at affordable prices. The town also has a good mix of older and newer developments, providing a range of options for homebuyers.

Accessibility

Another reason why Bukit Panjang …