Hong Fok launches 360-unit residential property at Concourse
The 88 serviced apartments at the Concourse will be redeveloped into a 360-unit residential property. Developer Hong Fok Corporation said the 99-year leasehold units will be “priced to sell” in today’s softer property market. Ninety units of Concourse Skyline will be launched over the next few days in Singapore and Hong Kong. They will be … Read more
TID top bidder for Tanah Merah site
A state tender for a 99-year leasehold private condominium site next to Tanah Merah MRT Station has drawn seven bids. TID Pte Ltd’s top bid of S$84 million works out to about S$282 per square foot of potential gross floor area. The other bidders were Sim Lian Land (which bid S$75 million), Boon Keng Development, … Read more
Tender closed on site at New Upper Changi Road; top bid hits S$282 psf
The URA has closed the tender on a residential site along New Upper Changi Road, with the highest bid coming in at S$84 million from TID. This translates to S$282 per square foot (psf) per plot ratio, said CB Richard Ellis. The 9,875.5 square metre site attracted seven bidders. CB Richard Ellis said the high … Read more
Australian Reit crunched by global credit crunch
Fitch Ratings has on Tuesday noted that the Australian Reit (A-Reit) reporting season has concluded with many A-Reits reporting significant declines in profitability due to a reassessment of the carrying values of underlying assets. Current accounting standards require changes in asset values to flow through the profit & loss statement, resulting in a significant turnaround … Read more
US housing crisis heightens aversion to risk: study
The US housing crisis has left many Americans worried about losing their jobs, making many more cautious about how they save for retirement, according to a new report on Tuesday. The study, commissioned by online investment firm Scottrade, found that one-third of Americans have become more conservative in their investment strategies because of the housing … Read more
Singapore’s MICE industry remains strong despite economic downturn
Singapore’s Meetings, Incentives, Conventions & Exhibitions (MICE) industry has remained resilient in the face of the current global downturn. Companies have seen as much as 60 per cent growth in sales in the past six months, driven by growing demand in Asia. And the local MICE sector is set to receive a further boost when … Read more
Experts say Singapore has edge over Macau as a gaming destination
Singapore will have an edge over Macau when the first of its integrated resorts is completed in 2009. This is because the Republic is already an established tourist destination, said gaming experts at the Asian Casinos Executive Summit on Tuesday. Integrated resorts with casinos are not just about gambling. They now include family-friendly attractions, business-focused … Read more
360-unit Concourse Skyline signals confidence in Singapore’s property market
Leading property investment and development company, Hong Fok Corporation, today launched a new 360-unit residential development that offers sweeping waterway and city views, and overlooks Singapore’s newest and most exciting attractions. The Concourse Skyline will be at the centre of Singapore’s new “action” zone. Overlooking the newly developed pit lane of the Singapore GP; the … Read more
Size up home supply again
WHAT a difference a year makes. Just last year, all official hands were on deck to calm what was seen as an overheating property market. To help keep soaring home prices in check, the Government released an unprecedented amount of data on the housing market. It also deviated from usual practice to draw attention, in … Read more
Silversea
Silversea, the luxurious development located in the East Coast area, has 383 apartments and the living spaces of most large units are designed with sweeping pool or breathtaking sea views. Penthouses are crafted with different designs, offering exclusive living atop every tower to enjoy the most spectacular views. In line with its positioning, Silversea’s façade … Read more
