Futura minority owners withdraw appeal against en bloc sale
Minority owners of the Futura condominium on Leonie Hill Road have withdrawn their appeal against the en bloc sale of the property. The reasons for the decision have not been disclosed. Futura was sold to City Developments’ subsidiary City Sunshine in October 2006 for S$287 million. This means each unit owner will get between S$3.7 … Read more
DDS Asia targets hospitality and commercial sectors
Home-grown interior design firm Design Studio is joining hands with the world’s fifth largest interior fit-out company Depa United Group. Their joint venture, DDS Asia Holdings, is targeting business opportunities in the hospitality and commercial sectors. DDS Asia has a share capital of $10 million, and will go for projects worth over $50 million. Work … Read more
Leng Beng urges nimble feet in shifting landscape
CDL chief suggests review of land sales, rethink on deferred payment scheme The uncertainty surrounding the local property market will last at least another six months and stakeholders must stay nimble to deal with the changing tides, says property tycoon Kwek Leng Beng. Speaking to BT, he said that the standstill in the local property … Read more
Leng Beng’s recipe for public housing
Lease new units to first-time S’porean buyers, with option to buy: CDL chief CDL boss Kwek Leng Beng has a suggestion to make housing more affordable for young Singaporeans. He says the government could build more public housing units, lease them out to young Singaporean first-time buyers and give them an option to buy the … Read more
Office occupancy dips for two consecutive quarters: report
Two new office buildings added 538,100 sq ft of office supply in Q1 ISLANDWIDE office occupancy dipped in the first quarter of 2008, easing half a percentage point quarter-on-quarter to 97.1 per cent. The dip followed a 0.1 point drop in Q4 2007 from Q3. A report by DTZ Debenham Tie Leung also shows that … Read more
100m Biopolis Phase III starts taking shape
The 41,500 sqm complex will be ready by Q4 2009 CONSTRUCTION of the $100 million Biopolis Phase III project began yesterday, and its developer hopes to achieve a take-up rate of at least 50 per cent by the middle of June. Said Patrick Teo, CEO of Crescendas Bionix, at the groundbreaking ceremony: ‘We are optimistic … Read more
KSH wins $53m KepLand deal
CONSTRUCTION and property group KSH Holdings has secured a contract worth about $53 million from a Keppel Land subsidiary. The contract from Keppel Land Realty is for the construction of Madison Residences, an 18-storey luxury condominium development at Bukit Timah Road. Construction work is scheduled to begin in June and expected to be completed within … Read more
UE wins $85m job at Marina Bay Sands IR
UNITED Engineers Ltd (UE) said yesterday that its wholly owned unit United Engineers (Singapore) (UES) won a contract worth $85 million to provide electrical services for the hotel development at the Marina Bay Sands Integrated Resort (IR). The contract was awarded by Ssangyong Engineering & Construction Co Ltd to engage UES as a nominated sub-contractor … Read more
GIC RE looking to sell office building for RM300m: report
Singapore’s real estate investment arm plans to sell Menara Standard Chartered at Jalan Sultan Ismail here for about RM300 million (S$129.7 million) seven years after it bought the property, Malaysia’s Business Times reported yesterday, quoting sources. The Government of Singapore Investment Corp Real Estate (GIC RE) is believed to have approached several local property agents … Read more
Govt does offer hotel sites outside city centre
WE REFER to Mr William Jefferson’s letter ‘Build hotels outside city to solve squeeze’ (March 26), in which he suggested that hotels be built outside the central area to cater to the increasing flow of visitors. The Urban Redevelopment Authority (URA) and the Singapore Tourism Board (STB) recognise the need to increase the number of … Read more
