New 7th Storey Hotel to make way for Downtown Line development
One of Singapore’s oldest hotels – New 7th Storey Hotel at Rochor Road – will be demolished to make way for the new Bugis MRT station for the Downtown Line. The hotel’s owners and occupants will have to move out by the end of December. The owners – who said they only heard about the … Read more
UOL to invest up to $500m in overseas hotels
It anticipates huge growth in the hospitality industry SINGAPORE developer UOL Group said yesterday that it will spend up to $500 million over three years acquiring hotels in the United States, Australia and throughout Asia, in expectation of a boom in global travel. ‘We see tremendous growth in the hospitality industry, especially from the Asia-Pacific … Read more
HDB to launch new site at Toa Payoh for tender under DBSS
The Housing and Development Board is launching a new site for tender under the Design, Build and Sell Scheme (DBSS) on June 27. The site, located at Lorong 1A Toa Payoh, will be the sixth site to be offered under the scheme. The plot has an area of 27,480 square metres and an allowable gross … Read more
SLA to auction 8 infill sites for residential developments
The Singapore Land Authority (SLA) has launched another eight infill sites for residential use. They will be offered through a public auction on August 21. The sites will be sold with fresh 99-year leases. This will be the second time the SLA is offering such sites for public auction. In November last year, six infill … Read more
US existing home sales rise 2% in May
The pace of existing home sales in the United States rose in May to a 4.99 million-unit annual rate, the National Association of Realtors said in a report on Thursday that slightly beat analysts expectations. Economists polled by Reuters were expecting home resales to rise to a 4.93 million-unit pace, from the 4.89 rate initially … Read more
Citi sees no oversupply of homes in next two years
It estimates only 60% of the 30,000 units forecast will be completed, so fall in prices will be modest ANALYSTS from Citigroup have stuck their necks out to dismiss some market predictions of a crippling property glut in the next two years. Official figures show that around 30,000 homes will be completed in the next … Read more
Q2 investment sales of properties slide, but money waiting in the wings
Price mismatch expected to keep volume of deals low TOTAL investment sales of Singapore real estate, a gauge of developers’ and investors’ medium- to long-term confidence in the property sector, have dipped to $3.7 billion so far this quarter (up to June 20), or 58 per cent lower than the Q1 2008 figure of $8.9 … Read more
YTL’s Sentosa villas to start from $12m each
Sandy Island villas are being designed by Italian architect Claudio Silvestrin MALAYSIA’S YTL Corp will launch later this year 18 luxury waterfront villas at Sandy Island on Sentosa Cove and prices are expected to start from $12 million for a villa or at least $2,000 per square foot (psf) of land area, BT understands. YTL’s … Read more
Gillman en bloc sale to proceed
THE High Court has dismissed an appeal by minority owners of Gillman Heights Condominium to stop its en bloc sale. This means that the $548 million sale of the development to CapitaLand, Hotel Properties and two private funds is set to go through. Justice Choo Han Teck, in his judgment yesterday, said that he was … Read more
High Court dismisses appeal against Gillman Heights sale
THE High Court has dismissed an appeal by owners objecting to the collective sale of Gillman Heights Condominium, which means the $548 million sale can go ahead. CapitaLand, the lead buyer of the 99-year leasehold Alexandra Road site, can now proceed to complete the deal, provided the objecting owners do not appeal against the High … Read more
