More BTO flats in popular mature estates

8,940 flats were launched for sale on Tuesday by the Housing & Development Board (HDB) under the build-to-order (BTO) and sale of balance flats (SBF) exercise in May, with one-quarter of the BTO flats located in the popular mature estates of Ang Mo Kio and Bedok. Experts are already expecting the BTO flats in these mature estates to be in high demand, with about four to five applications per unit for BTOs in Ang Mo Kio and Bedok; and two applications per unit in Bukit Panjang and Sembawang.

(Source: Business Times)

Qingjian tops bid at Bukit Batok West site

The tender for the 1.5-hectare, 99-year leasehold land parcel in Bukit Batok West Avenue 6 drew 11 bids. Qingjian tops the bid with S$301.16 million or S$634.57 per square foot per plot ratio (psf ppr) was 8.3 per cent more than the next highest bid of S$277.98 million (S$585.73 psf ppr) from Robert Kuok’s Allgreen Properties. The site is in a less-developed locale of Bukit Batok and not within walking distance of any MRT station.

(Source: Business Times)

Stars of Kovan units fetch even less than expected

Cheung Kong Property Holdings has sold around 60 units of its private condominium project Stars of Kovan at an average price of S$1,408 per square foot – lower than the average pricing of S$1,550 to S$1,600 as indicated. The one-bedroom to three-bedroom units ranged between S$1,227 and S$1,554 psf. However, Francis Wong, director of Property Enterprises Development, a member of Cheung Kong Property Holding was pleased at the high take-up rate of 90% seen over this weekend.

(Source: Business Times)

Mixed views about reserve site in West Coast Vale

The Urban Redevelopment Authority (URA) on Wednesday released detailed sales conditions for a residential reserve site in West Coast Vale, which property specialists are mixed in their views about the site’s appeal. The 99-year leasehold site can potentially yield up to 520 residential units with a site area of 16,378 square metres. It is located along Sungei Pandan and linked to West Coast Highway and Ayer Rajah Expressway (AYE). Some positive attributes of the site are that it is easily accessible to the highways while shielded by neighbouring condominium development from the traffic noise of AYE. However, the site is also relatively far from the MRT stations and amenities.

(Source: Business Times)


Good time to purchase commercial properties: CityDev

Rising interest rates makes such assets cheaper worldwide, making it a good time to purchase commercial properties, says CEO of City Development. City Developments has been diversifying outside Singapore after government curbs stifled demand back at home. It will focus on five markets as part of its diversification – China, Australia, Japan, the US and the UK. Its CEO opined that market volatility has increased the appeal of property as an investment, even amidst an uncertain global economic outlook.

(Source: Business Times)

ShunTak acquires first hotel site in Singapore

Hong Kong-Listed Shun Tak Holdings, a company founded by casino tycoon Stanley Ho, has acquired a prime freehold site at 9 Cuscaden Road, belonging to the late Tan Hoon Siang, the great-grandson of the famous philanthropist Tan Tock Seng. The site is opposite Tanglin Shopping Centre, and is between St Regis Hotel and Orchard Parade Hotel. The sale price reflects a land rate of about S$2,145 psf and there are considerations to turn the site into a residential project, subject to approval and payment of development charges, as suggested by The Urban Redevelopment Authority (URA).

(Source: Business Times)

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