Month: January 2025

City Developments Limited (CDL), a subsidiary of CDL Hotels Holdings New Zealand Limited (CDLHH NZ), has proposed to purchase all outstanding shares of New Zealand-listed Millennium & Copthorne Hotels New Zealand Limited (MCK) for NZ$2.25 ($1.72) per share. CDL intends to delist and privatise MCK following the completion of the offer, simplifying the ownership structure of its New Zealand entities, according to a Jan 20 filing.

MCK currently owns, leases, or franchises 18 hotels in New Zealand and has a majority stake in CDL Investments New Zealand Limited, as well as interests in Australian properties through its Kingsgate Group subsidiaries.

CDLHH NZ currently holds 80.02 million shares in MCK, representing a 75.86% stake based on a total of 105.48 million MCK shares in issue. If CDLHH NZ reaches the threshold to invoke compulsory acquisition under the New Zealand takeovers code, it will acquire all remaining shares in MCK. It may …

Roxy-Pacific Holdings executive chairman, Teo Hong Lim, declared a success on the first day of launch for the freehold condominium, Bagnall Haus. A total of 71 out of 113 units were sold, equating to a sales rate of almost 63%, with an average price of $2,490 per square foot (psf).

Teo revealed that out of the purchasers, over 90% were locals. He added that a majority of them were end-users with various budget constraints. The sales performance saw a strong response across all unit types, with the two- and three-bedroom units being the most popular. However, there was also significant demand for the larger five-bedroom units.

The freehold development, located at Upper East Coast Road in District 16, features 113 residential units spread over three five-storey blocks on a 74,280 sq ft site. The units comprise a mix of one-bedroom plus flexi units measuring 495 sq ft and five-bedroom units …

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When it comes to investing in real estate, choosing the right location is key, and this is especially true in the context of Singapore. Condominiums situated in central areas or in close proximity to essential amenities like schools, shopping malls, and public transportation hubs tend to have a higher appreciation in value. Some prime locations in Singapore that have seen consistent growth in property values include Orchard Road, Marina Bay, and the Central Business District (CBD). The presence of reputable schools and educational institutions in these areas also adds to the allure of condominiums, making them a highly desirable investment option for families. To learn more about the potential of real estate investments in Singapore, be sure to explore the latest Singapore Projects at anvly.com.

Commonwealth Towers has emerged as the top private non-landed property in terms of reaching a new psf-price peak in the week of December …

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In a joint press release by HDB and the Ministry of National Development (MND) on January 16, Minister for National Development Desmond Lee announced that HDB will be launching over 25,000 new flats in 2025.

The upcoming launch includes approximately 19,600 build-to-order (BTO) flats across three sales exercises and more than 5,500 sale of balance flats (SBF) in one SBF sale exercise. These new flats will be a mix of Standard, Plus and Prime BTO flats under the updated classification framework.

The February BTO launch will offer around 5,000 flats in the neighbourhoods of Kallang/Whampoa, Queenstown, Woodlands, and Yishun.

In addition to the BTO launch, HDB will also conduct its largest-ever Sale of Balance Flats (SBF) exercise next month, offering over 5,500 flats in various estates. About 40% of the flats in the SBF exercise are ready for occupancy, while the rest are at different stages of construction and …

There was a highly profitable resale transaction at the freehold Orchid Mansion on Amber Road, District 15 on Dec 31. This resulted in a profit of $2.58 million (112%), making it the most profitable resale transaction during the period of Dec 31, 2024 to Jan 7, 2025.

The unit, a 2,842 sq ft three-bedroom penthouse on the 21st floor, was sold for $4.88 million ($1,717 psf). It was previously purchased for $2.3 million ($809 psf) in March 2009. This translates to an annualized profit of 4.9% over nearly 16 years.

The condo market in Singapore has gained significant traction among local and foreign investors, thanks to the country’s strong economy, stable political landscape, and exceptional quality of life. Singapore’s real estate industry presents a plethora of opportunities, with condos being a top pick for their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the …

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 …