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EFE 2018



Lakeside Apartments owners ask for S$240m

Singapore LAKESIDE Apartments is now on the market with a reserve price of S$240 million, becoming the latest development to wade into the collective sale arena. With more than 80 per cent of the owners at the 134,176 sq ft site in the Jurong Lake District area having agreed to sell their units, the tender was launched on Tuesday. Each owner in the 120-unit development could get S$2 million. There are 58 years left on... ...more

Park House goes for record S$2,910 psf ppr

Singapore ORCHARD property Park House has fetched a record collective sale price of S$2,910 per sq ft per plot ratio, marketing agent CBRE said on Wednesday. The freehold District 10 development at 21 Orchard Boulevard sold for S$375.5 million. This translates to S$2,910 psf ppr on the maximum allowable gross floor area of 129,035 sq ft, excluding the 10 per cent bonus for balconies. This new benchmark price beats the previous peak of S$2,526 psf... ...more

Accor to manage EL Development hotel in Hill St

Singapore EL Development has signed a memorandum of understanding with Accor for the French hotel chain to manage a new hotel that the Singapore property developer will build in Hill Street. Accor will manage the hotel under its Pullman brand - this will be the first Pullman in Singapore, EL Development managing director Lim Yew Soon told The Business Times in a recent interview. "Singapore is one of the major cities left in Asia where... ...more

Three freehold plots up for sale

Singapore THREE freehold plots, two of which are in prime districts, have been launched for sale, adding to the buffet of choice sites that developers looking to grow their landbanks can pick from. Elizabeth Towers, the largest of the three, is a high-rise residential redevelopment in Mount Elizabeth in District 9 with a reserve price of S$610 million, which translates to a land rate of approximately S$2,416 per square foot per plot ratio. The... ...more

Katong Plaza to be put up for collective sale at S$188m

Singapore FREEHOLD Katong Plaza will be launched for collective sale on June 7, 2018, with a S$188 million expected price, sole marketing agent Huttons Asia said on Tuesday, with the public tender closing at 2pm on July 16. The expected price - of which 80 per cent goes to commercial owners and 20 per cent goes to residential owners - translates to S$1,969 per square foot per plot ratio (psf ppr) for the mixed development,... ...more

Spanish Village put up for collective sale for S$882m

Singapore YET another property development in District 10 has been put up for sale. Owners of the 226-unit freehold property in Farrer Road known as Spanish Village are asking for S$882 million, jumping on the bandwagon of collective sales hopefuls in the prime districts. So far, 25 collective sale sites in districts 9, 10 and 11 have concluded, chalking up S$5.5 billion in total sale proceeds and a median land rate of S$1,664 per square... ...more

Pacific Star Development riding on Asean's growth potential

Singapore AS it wraps up its current mixed-use projects in Iskandar and Bangkok, Pacific Star Development (PSD) is sparing no effort to make itself known in the Asean market for its upper middle to high-end mixed-use projects. The Catalist-listed developer is currently studying opportunities to partner Singapore developers to bid for sites either through government land sale (GLS) sites or en blocs. Negotiations are ongoing for a joint venture to... ...more

Bukit Sembawang posts sharp increase in Q4 earnings

Singapore PROPERTY developer Bukit Sembawang Estates reported a substantial increase in quarterly net income on Thursday, as it recognised higher profits from its development projects. Its net profit after tax increased to S$21.5 million in the fourth quarter ended March 31, 2018, from S$2.3 million the year before. Its revenue more than doubled to S$32.8 million in Q4 FY2018, from S$15.2 in Q4 FY2017. Its earnings per share were 8.3 cents, from... ...more