Daily Archives: May 12, 2014 (27 Articles Found)

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Three Orchard Road malls working together to boost shopper traffic

Three malls along Orchard Road are planning to work together to drive greater synergy between their tenant mix. New kid on the block orchardgateway, along with 313@somerset and Orchard Central, have formed a steering committee to look at…

SATS will not proceed with acquiring Singapore Cruise Centre

Airport and cruise terminal services provider SATS has decided not to proceed with the acquisition of the Singapore Cruise Centre (SCC), it announced today. It made the decision jointly with current owner Temasek Holdings. SATS and Temasek Holdings…

Grassroots leader, AHPETC at odds over upgrading

A grassroots leader in Aljunied GRC has gone public with a disagreement between his organisation and the Workers’ Party-run town council over a lack of upgrading for blocks in Kaki Bukit this year. Kaki Bukit CCC chairman David…

Luxury property developer KOP is changing its strategy to focus on building mixed-use entertainment centres

Luxury property developer KOP is perhaps best known for its Hamilton Scotts condominium, where a unit sold for as much as S$24 million. It was also responsible for developing the Montigo resorts in Bali and Batam. But the…

Challenging times for investments

Singapore’s property investment market looks set for even more quieter times ahead, according to Savills’ Sales and Investment Briefing May 2014 report, published on Fri. Between Jan and Mar 2014, the firm noted that investment sales in Singapore…

Savills: Commercial investment sales down 55.8% in Q1

Commercial investment sales in Singapore fell 55.8 percent quarter-on-quarter to S$789.4 million in Q1 2014, a Savills report revealed. Three en-bloc office transactions were recorded this Jan. This includes a 50 percent stake in Finexis Building on Robinson…

OpenNet: Efforts to boost service standards

OpenNet acknowledges that its core challenge in providing a fibre connection to the non-residential segment has been to pass through building administration and house rules for access and approval for installation (“OpenNet fined $240k over service delays”; last…

LTA: 85 per cent of Downtown Line 2 stations completed

Less than three years since construction of the Downtown Line 2 started, 85 per cent of stations and tunnelling works have already been completed, according to LTA. Electrical and mechanical installation work is set to begin at many…

More must be done to strengthen security at Singapore’s key installations

More must be done to strengthen security at Singapore’s key installations, said observers. Commenting on the recent case of vandalism at the Bishan SMRT depot, they said the incident may have wider security implications. On May 5, a…

Lucky couple get flat within three months and cheaper by sticking with balance flat

Six months, that was all the time Suzane and Ben needed as a couple before they headed down to the HDB Hub in Toa Payoh, ready to be partners for life. But while they are sure about each…

ERA to focus on selling new property launches

Real estate agency ERA is shifting its focus to selling new launches as weak property market sentiment eats away at the resale segment, its traditional mainstay. We’re trying to get more new projects for the agents to sell,…

Reining in the runaway housing market

In 2011, the economy was hot and so was the seat of the MND Minister. Inflation has also hit my ministry, Mr Mah Bow Tan quipped in that year’s Budget debate. As it turned out, that was his…

Chinese, Japanese gardens have lots to offer

I applaud the decision to give the Chinese and Japanese gardens a makeover so as to rejuvenate them and add new vibrancy to attract more visitors (“Makeover for Chinese, Japanese gardens”; last Mon). Since the gardens are just…

Tan Yee Peng joins City Developments as director

City Developments announced the appointment of Tan Yee Peng as independent non-executive director. Ms Tan, 40, will also be an Audit and Risk Committee member. The board looks forward to her more than 18 years of accounting and…

Teacher’s pet: Big-time schools push prices of nearby homes up by a whopping 15%

According to PG, Singapore parents are discovering not only are they making weighted decisions into their kids’ school choice, the qualifying within-2km distance home location holds an equally dominant priority. In other words, parents don’t just buy a…

Strict regulations, high costs threaten survival of pet cafes

Pet cafes are gaining popularity in Singapore, but staying open, or even getting started, appears to be a challenge, with owners noting that many cafes have shut down within two years. They cite high costs and strict regulations,…

BCA: Subsidiary proprietors encouraged to attend AGMs in person

We thank Mr Stanley Kong for his letter “Ensure that majority of subsidiary proprietors vote on important issues” (May 3). The Building Maintenance and Strata Management Act (BMSMA) empowers the MCSTs to make decisions relating to the management…

A journey to Singapore’s central-east

Geylang. Probably not the first place you think of when someone says the word “startup”, but here’s a quick tour we did to prove our point. Geylang, a neighbourhood that connects Singapore’s Central and East regions, is famous…

I refer to the letter “Impractical to force condo owners to attend AGMs” (May 10). While I agree that it is impractical to force condominium owners to attend AGMs, I disagree that the 10 to 15 per cent…

Frasers Hospitality Trust will have 12 properties on SGX

Frasers Hospitality Trust (FHT) will have a portfolio of 12 properties including the InterContinental Singapore and Westin KL hotels when it lists on SGX later this year. This is according to Frasers Centrepoint, which said it will hold…

Thirty-one projects awarded Universal Design Mark

Thirty-one projects, mostly residential buildings, are awarded the Universal Design Mark this year, up from 26 in 2013. The Universal Design Mark is a voluntary certification that recognises developers and architects who have gone the extra mile in…

SRX: Resale prices for non-landed private homes fall to 16-mth low

Resale prices of non-landed private homes slipped 1.7 per cent in Apr, touching a 16-month low since Dec 2012. This was in spite of the increase in volumes of resale transactions, which at 476 was 24.6 per cent…

Ads must not refer to HDB flat’s valuation, agents reminded

Property agents have been issued a reminder about proper marketing procedures for HDB resale flats, after new rules were introduced in Mar. CEA recently advised the heads of property firms here that advertising efforts must not refer to…

Falls in landed home prices ‘may ease’

A severely limited supply of landed homes may help their prices hold up better this year compared with condominiums. Analysts say although landed home prices have fallen over the past few quarters owing to generally poor market sentiment,…

Resale prices of non-landed private homes hit 16-month low

Resale prices of non-landed private homes hit a 16-month low last month, even as resale volume reached its highest since Oct last year, a report by SRX showed. Overall resale prices of non-landed private residential properties slipped by…

Higher revenue from its hotels and property development helped developer Hotel Properties post stronger results for the first quarter on Monday. Net profit came in at $44.6 million for the three months to Mar 31, up 17.1 per…

Singapore’s first community museum celebrates its first anniversary

Our Museum @ Taman Jurong celebrated its first anniversary on Sun with an open house for hundreds of residents. The community museum, which is housed in containers and located in Yung Sheng Road, showcases national artworks and the…

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