Private home price decline gained momentum in Q1 2019
Private home price decline gained momentum in Q1 2019 by dropping 0.7 per cent, following a 0.1 per cent decrease in the fourth quarter showed the Urban Redevelopment Authority (URA) statistics. The private home price decline was steeper than the 0.6 per cent decrease in URA’s flash estimate released earlier this month. Private home price decline gained [...]
Two industrial properties at 3rd Chin Bee Road up for sale at $9m
JLL said on April 23 that it is pleased to launch for sale by Expression of Interest, 9 and 11 Third Chin Bee Road – two “Business 2” industrial properties in the established industrial estate of Chin Bee. Image credit: JLL The industrial properties consist of two buildings containing warehousing, production and office spaces, interlinked by [...]
Three adjoining office units in Peninsula Plaza up for sale
CBRE announced on April 24 that it is launching three adjoining office units at Peninsula Plaza for sale via an Expression of Interest exercise. Located on the 12th storey, the area of each unit ranges from 1,001 square feet to 1,776 square feet and totals to a combined area of 4,262 square feet. The three [...]
Funan obtains Temporary Occupation Permit as it gears up for opening in 2Q 2019
Singapore’s new-gen integrated development Funan has successfully obtained its Temporary Occupation Permit (TOP). This milestone puts Funan a step closer to opening its retail and office components in 2Q 2019, as announced last September. Funan is owned by CapitaLand Mall Trust (CMT) and managed by CapitaLand. From groundbreaking to completion, the construction of Funan took [...]
Le Arc Apartment up for collective sale again with reduced reserve price
Queensway Shopping Centre and its adjoining apartment, Queensway Tower, have started the process for en bloc sale. Berita Harian which reported on the en bloc attempt of Queensway Shopping Centre and Queensway Tower noted that the en bloc sales process was started after the property cooling measures introduced by the Government in July last year. Many en [...]
Prime CBD office rents see broad based increase for seven consecutive quarters
Average prime CBD office rents grew for the seventh consecutive quarter, rising 2.3% in Q1 2019 from the previous quarter, says Colliers International research. Beach Road micro-market led the way in prime CBD office rent growth, clocking the fastest pace of rent increase compared with other micro-markets in Q1 2019 Colliers Research expects net demand [...]
Realty Centre sold en bloc at $17m below reserve price
Realty Centre sold en bloc at $148 million, $17 million below the reserve price of $165 million. Realty Centre, located in the core central region submarket of Tanjong Pagar has been sold enbloc for $148 million. Brokered by Property Consultants Cushman & Wakefield (C&W), this is the first fully commercial collective sale site concluded this [...]
Office building sale – 7 & 9 Tampines Grande – successfully brokered by Cushman and Wakefield
Cushman & Wakefield announced on April 18 that they have brokered the sale of an office building – 7 & 9 Tampines Grande – to Evia Real Estate and Metro Holdings Limited. The Capital Markets team at Cushman & Wakefield secured the buyer on behalf of Alpha Investment Partners and City Developments Limited. The office [...]
Rapid Transit System revival may add buzz to Woodlands
The Malaysian Transport Minister’s commitment to the Rapid Transit System revival may add buzz to the rejuvenation efforts of the Woodlands area. “We are working on the supplementary agreement for six months and looking at other options on how to reduce the cost,” said Malaysian Transport Minister Anthony Loke at a joint press conference with [...]
Beach Road rejuvenation to get impetus from Guoco Midtown
The Beach Road rejuvenation is all set to get a huge boost with the $2.4 billion mega mixed-use development, Guoco Midtown. In speaking to the media on the unveiling of Midtown’s concept on April 22, Mr Cheng Hsing Yao, group managing director of GuocoLand Singapore, said Guoco Midtown will feature a 30-storey office block, a residential tower [...]