URA closed tender for industrial site at Ubi Avenue 4
The Urban Redevelopment Authority (URA) has closed the public tender for an industrial site at Ubi Avenue 4. The URA had received a successful application for the site to be put up for sale in August and it was launched for public tender on Sept 3. It has a site area of 11,491.5 square metres … Read more
The Suites at Central
Located at Devonshire Road, The Suites at Central comprises an exquisite collection of 157 freehold condominium units. Sitting on an 80,000-sf site, the development is conveniently located within walking distance to the Somerset MRT station and the Orchard Road shopping belt, enjoying a rare combination of exclusivity and accessibility. The 33-storey twin tower condominium development … Read more
New occupant: Not scared but…
Are property agents obliged to reveal the history of the flat to potential buyers? Three women died in a bloody rampage – their blood splattered and bodies strewn in a five-room flat in Yishun. Question: Would you buy this flat if it were for sale? The women, all Chinese nationals, were stabbed to death. Another … Read more
Singapore in for ‘biggest office space excess in 20 years’
DEMAND for Singapore offices is likely to fall to recession-level lows next year and in 2010, resulting in the biggest excess supply of office space in 20 years, said Credit Suisse yesterday. It expects office vacancy rates to hit a high of 16.5 per cent in 2010 – up from an islandwide vacancy of about … Read more
HPL unit to manage Le Meridien
HOTEL Properties Ltd (HPL), through wholly owned HPL Hotels & Resorts, is taking over management of the Le Meridien Singapore hotel tomorrow and rebranding it Concorde Hotel Singapore, in line with plans to establish the brand in more markets. This is HPL Hotels & Resorts’ fourth Concorde hotel but its first in Singapore, as the … Read more
Thomson collective sale back on track after SLA appeal
THE collective sale of five small estates in Thomson Road is back on track after getting stalled two months ago. An appeal by buyers Mergui Development has been granted by the Singapore Land Authority (SLA), to reduce the price of a 1,000 sq m section of a road needed for redeveloping the project. Developer KSH … Read more
Short-term interest rate spikes
Rise in Sibor leads to bigger loan repayments but higher interest for cash deposits for some THE global credit crunch has started hitting home here with short-term interest spiking, spelling bad news for some home buyers but better news for those with cash in bank deposits. Local banks are said to have tightened their credit … Read more
Rising interest rates are not all bad
I REFER to the article ‘Short-term rates leap to about 2%’ (BT, Sept 27). The article’s tone refers to interest rates rising as if it were a bad thing, focusing on borrowers being ‘hit’ and ‘hurt’. But for every borrower there is a depositor and the article should also mention that long-suffering savers, who have … Read more
Concorde Hotel checking in again
THE hotel arm of Singapore-listed HPL Properties has taken over an Orchard Road hotel and will make it part of its Concorde chain. HPL Hotels and Resorts Group will take over the management of Le Meridien Singapore from tomorrow and turn it into Concorde Hotel Singapore. The multimillion-dollar rebranding and ‘major refurbishment’ works will make … Read more
Shouldn’t new HDB flats be priced less than market rate?
I REFER to last Saturday’s article, ‘$645K: HDB’s priciest flats go on sale’. I was shocked that HDB has priced its new stock of flats in Tanjong Pagar at $545,000 to $645,000. I am not surprised the higher-end flats have relatively few takers due to steep pricing. As it is, HDB has priced its new … Read more
