JTC to plant more trees in Tuas to help companies cut energy costs
JTC Corporation will plant more trees in Tuas to help companies there cut energy costs, the company revealed at its tree-planting event at the Tuas Biomedical Park on Wednesday. It said a joint study with the National University of Singapore showed that areas with more greenery experience cooler temperatures. Shade from trees and rooftop greenery … Read more
Developers turn landlords as property market stays quiet
With projects held back, firms lease out units bought in collective sales PROPERTY developers such as Koh Brothers and GuocoLand, which bought collective sale sites during boom times, are now becoming landlords as they wait out the market slowdown. They are leasing out apartments they bought to existing occupants as a way to generate some … Read more
Reality check for 99-year lease top-up assumption
The market used to assume that the government would top up leases for sites to 99 years as they came up for redevelopment. A series of recent decisions – in which the authorities either declined lease top-ups or allowed them, but for shorter tenures – have put a big question mark over that assumption. Property … Read more
Uncertainty over lease top-ups may affect sentiment
The government’s recent decisions to either not top up leases of some leasehold sites to the original 99-year term or to approve shorter lease extensions could affect sentiment towards investment sales of such properties. The decisions may have implications for the likes of other leasehold properties such as DBS Building, UIC Building and Shenton House, … Read more
Sim Lian Land is top bidder for DBSS site at Simei
SIM Lian Land Pte Ltd yesterday emerged as the top bidder in a Housing & Development Board (HDB) tender for a Design, Build and Sell Scheme (DBSS) site at Simei Road. The $52 million bid, or $137 per square foot per plot ratio (psf ppr), was at the lower range of earlier market expectations. Industry … Read more
Kwek Leng Beng’s son to leave Thakral
THE son of property tycoon and City Developments executive chairman Kwek Leng Beng has quit as chief operating officer of Thakral Corporation. Mr Sherman Kwek, 32, who was appointed in June 2006, ran the day-to-day operations of the property firm and set its strategic direction. It was announced yesterday that he would be resigning ‘to … Read more
The incredible shrinking condo
A TINY studio under construction near Farrer Park may well be the smallest private apartment to be built in Singapore. It squeezes a bay window, a teeny kitchenette, a bathroom and space for a bed into just 312 sq ft – about half the size of a squash court. The unit – part of the … Read more
Canopy design adheres to heritage guidelines
WE THANK Mr Loke Hoe Kit for his letter on Monday, ‘Canopy doesn’t do old Supreme Court justice’. A key requirement for all entries to the architectural design competition for the National Art Gallery (working title) is that they must satisfy the Preservation of Monuments Board (PMB) guidelines. This is to ensure that the selected … Read more
CWT in for $85.7m gain from warehouse deal
LOGISTICS group CWT Ltd stands to realise a gain of $85.7 million from the sale of one of its biggest warehouse facilities in Singapore. The company yesterday said it has entered into a conditional agreement with a buyer to sell and lease back its newly-completed Logistics Hub 2 in Tanjong Penjuru. CWT did not disclose … Read more
