City Developments Limited (CDL) divested assets worth over $600 million last year, as part of its capital recycling strategy. This total falls short of the company’s initial $1 billion target set in early 2024, due to a decline in market deals across various markets and asset classes.

Some of these completed divestments include the Ransome’s Wharf site in London, the Cideco Industrial Complex, and various strata units in Singapore. Additionally, the retail and office components of its mixed-use development, Hong Leong City Center (HLCC) in Suzhou, are currently under contract and expected to be completed this quarter.

Condo investment in Singapore is rapidly gaining popularity among local and foreign investors, thanks to the country’s strong economy, political stability, and outstanding quality of life. The real estate market in Singapore presents a wealth of opportunities, with condos being a particular standout due to their convenience, amenities, and potential for high returns. …

A freehold bungalow located at 11 Whitley Road has been listed for sale through a tender process with a guide price of $31.88 million. The two-storey property sits on an elevated freehold site measuring 15,276.27 sq ft, which works out to be $2,087 psf on the land area.

Originally built in 2016, the bungalow has been renovated with a rear extension. The spacious house boasts five bedrooms, three of which are en suite, along with two living rooms, two dining areas, a large well-equipped kitchen, and a helper’s room.

According to Aric Lim, associate district director of Huttons Asia, who is the exclusive marketing agent for the property, the land parcel has the potential to be subdivided for the redevelopment of eight terraced houses. Each site would range from 1,614 sq ft to 2,389 sq ft, with a total gross floor area (GFA) of 21,528 sq ft, subject to land …

GuocoLand has recently sealed two green facilities from DBS Bank and Oversea-Chinese Banking Corporation (OCBC) – a $1.135 billion green facility for refinancing Guoco Midtown and a $105 million green facility for refinancing Midtown Bay. This is in line with the company’s commitment to sustainable development and its Green Finance Framework.

The $1.135 billion green facility is the largest secured by the property developer to date for the refinancing of Guoco Midtown. In total, GuocoLand has secured around $5 billion in green financing, including for its other developments such as Guoco Tower, Lentor Mansion, Lentor Modern, Midtown Modern, and the upcoming Upper Thomson Road Development.

For international investors, it is crucial to have a thorough understanding of the regulations and limitations surrounding property ownership in Singapore. In comparison to landed properties, foreigners are generally permitted to acquire condos with less strict restrictions. Nevertheless, they must adhere to the Additional Buyer’s …

Roxy Square, a freehold mixed-use development situated in the prestigious Katong area, is set to be relaunched for collective sale, as announced by marketing agent JLL.

The development, which comprises of 296 shops, 26 apartments, and the 576-room Grand Mercure Roxy Hotel, was previously launched for tender in July 2020 with a minimum price of $1.25 billion. However, the tender closed on September 26 without any successful buyers.

According to JLL, the owners of the development are currently in the process of signing a supplemental agreement to lower the collective sale price by 10.8% to $1.115 billion. This proposed reduction in price will require the support of at least 80% of the owners to take effect, and currently, more than 70% of owners have shown their approval.

Under the new price, the development is expected to have a unit land rate of $1,852 psf per plot ratio (ppr), which includes …

by Straits Times

The Arcady at Boon Keng, a 172-unit freehold condominium, is set to become a landmark private residence upon its completion in 2027. Positioned in the heart of the Boon Keng area, the project will introduce a dense green space along Serangoon Road, featuring contemporary architecture that will distinguish it as a standout condominium in the neighbourhood.

The trusted local developers KSH Holdings, SLB Development and H10 Holdings have joined forces to develop this project, partnering with award-winning architectural firm Park + Associates to create this distinguished residence.

Since its launch for sale in January, The Arcady at Boon Keng has garnered significant interest from investors and local buyers, thanks to its efficiently designed one-bedroom plus study and two-bedroom units. Families have been drawn to the spacious units, perfect for creating a comfortable living space, as well as the project’s abundant family-friendly amenities.

This development presents discerning buyers …

The Government Land Sale (GLS) tender for the site at Tengah Gardens Avenue closed on January 14, and three bids were received. The top bid of $675 million, or $821 per square foot per plot ratio (ppr), came from a consortium led by Hong Leong, which includes GuocoLand Singapore and CSC Land Group.

The 99-year leasehold site, which is zoned ‘Residential with Commercial at 1st storey’, covers approximately 273,906 square feet and has a maximum gross floor area (GFA) of 821,720 square feet. According to estimates by the Urban Redevelopment Authority (URA), the site has the potential to yield up to 860 residential units.

In the event that the bid is successful, the Hong Leong-led consortium plans to develop an 860-unit condominium, taking advantage of the enhanced connectivity offered by the upcoming Jurong Region Line (JRL) nearby. The JRL is expected to contribute to the growth of the new Tengah …

Finding the perfect location is key when considering real estate investments, and this is especially important in Singapore. Condos located in central areas or near essential amenities, such as schools, shopping centers, and public transportation hubs, are known to have a higher appreciation in value. Prime locations like Orchard Road, Marina Bay, and the Central Business District (CBD) have a track record of consistent property value growth. The presence of reputable schools and educational institutions also adds to the appeal of condos in these areas, making them an even more attractive investment opportunity. By choosing a Condo in a desirable location, investors can potentially benefit from both rental income and long-term capital appreciation.

Redas has announced the election of its management committee for the next two years. The election was held during the Annual General Meeting on January 9, where members unanimously re-elected Tan Swee Yiow, Chairman of Keppel Reit …

The Arcadia witnessed its most profitable resale transaction from Dec 10 to Dec 31 with the sale of a 3,767 sq ft unit for $4.75 million ($1,261 psf). The owner, who had bought the four-bedroom unit for $1.5 million ($398 psf) in 1998, made a handsome profit of $3.25 million (217%). This translates to an annualised profit of 4.5% over 26 years.

Last year, five units at The Arcadia saw profits ranging from $60,000 to $3.25 million. The most recent of these was the sale of a 3,778 sq ft unit on the fourth floor for $4.6 million ($1,218 psf) on Oct 10, which yielded a profit of $60,000. The top-performing transaction at The Arcadia was the sale of a 7,503 sq ft penthouse on the 10th floor in 2010 for $10 million ($1,333 psf). The penthouse was purchased for $5.5 million ($733 psf) in 2007, resulting in a profit …

A luxurious Good Class Bungalow (GCB) located at Victoria Park, which was completed three years ago, is now up for sale with a price tag of $61 million. This property boasts seven bedrooms and is situated at the end of Victoria Close, a secluded cul-de-sac with a limited number of just 10 homes.Following the strict regulations set by the government for gazetted GCB areas, the only way to increase the number of homes in this exclusive enclave is by dividing larger plots of over 30,000 sq ft. According to Jervis Ng, the associate group district director at PropNex Realty who is currently marketing the sale of this GCB, the number of houses in this area will remain limited, ensuring privacy and exclusivity for its residents. Ng is also the founder of JNA Real Estate, a property team under PropNex.According to Ng, this GCB has seen increased interest from the new …

BY WONG KAI YI

The cityscape of Singapore is defined by its towering skyscrapers and advanced infrastructure. Condominiums, situated in desirable locations, offer a perfect fusion of opulence and practicality that appeals to both locals and foreigners. These residential complexes boast an array of facilities including swimming pools, fitness centers, and security measures, elevating the standard of living and making them a sought-after choice for prospective renters and buyers. Furthermore, for those looking to invest, these amenities equate to higher rental returns and a steady appreciation of property value over time. Keep an eye out for upcoming New Condo Launches to experience the best of Singapore’s modern living.

Edmund Tie & Company, a leading local real estate advisory firm, has announced a rebranding exercise with immediate effect. The company will now be known as ETC, which has long been a common abbreviation among its clients and staff. According to Desmond …