Daily Archives: January 21, 2019 (20 Articles Found)

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Serangoon Gardens mixed landed residential site at Berwick Drive sold for $9.8 million

Savills announced on Jan 21 that it has successfully brokered the sale of 18/20 Berwick Drive in Serangoon Gardens through a tender exercise in Dec 2018. The site in Serangoon Gardens was sold for $1.7 million below the…

Singapore home loans: What does the bank jargon mean?

If you’re shopping around for your first home, one thing that you’ll definitely want to get right is your home loan. In this article, we walk you through the different terms in a mortgage agreement, and decipher the…

Will there be more million-dollar HDB transactions in 2019?

Last Sept, a HDB terrace in Jalan Bahagia changed hands for nearly $1.2 million, making it the priciest HDB unit ever sold at that point in time. The 2,551 sqft 3-room terrace near Whampoa hit a record price…

Elizabeth Towers relaunched for en bloc sale at $610m

Elizabeth Towers in Orchard Road is once again up for collective sale by tender for $610m, Knight Frank revealed. It was also put up for sale back in June 2018 but had failed to be sold by the…

AHTC trial: Defendants acted ‘in good faith’ at all times, say lawyers in closing submissions

Lawyers for defendants in the landmark AHTC trial filed their closing submissions on Fri, reiterating their stance that the town councillors – including three WP MP – acted in good faith at all material times, and in execution…

AHTC trial: Managing agent ‘enjoyed’ 300% profit increase as town council’s finances suffered, say lawyers

Lawyers for AHTC reminded the court how the town council’s former MA enjoyed “extraordinary profits” while AHTC’s financial position was “severely damaged” in their closing submissions for the landmark trial. The Shook Lin & Bok lawyers called for…

Charged S$5 for parking in a proper zone: Bike-share users report issues with new QR-code system

Hastily wiping drops of sweat from my smartphone screen, I fumbled with my Mobike app at a bus stop along Changi Road, trying desperately to scan the QR code and end my trip. I spent the next 15…

Singapore Philatelic Museum, Peranakan Museum to close for redevelopment

The Singapore Philatelic Museum and the Peranakan Museum will be closed for redevelopment, NHB announced on Mon. The Singapore Philatelic Museum will be closed to the public from Mar 18 and is expected to re-open at the end…

Google deal or not, analysts see a promising outlook for FCOT

In a Mon report, OCBC analyst Joseph Ng notes that market watchers expect Google to pay about $4 psf/month, which is above ATP’s already-higher $3 psf/month signing rents in 1Q19. “[The Google deal] would be a positive surprise…

Ascendas-Singbridge properties to house public EV charging network with help from SP Group

Ascendas-Singbridge Group is appointed as SP Group’s first major location partner in its plans to build “Singapore’s largest and fasted public EV charging network” with 1,000 charging points island-wide by 2020. Under the partnership, 24 charging points were…

ESR-Reit focusing on S’pore after merger

ESR-Reit, now one of the largest industrial Reits here with $3 billion in property value after a merger, is not rushing into overseas markets just yet. The Reit already has its hands full with its 57 existing assets…

Colliers appoints Rick Thomas head of occupier services in Singapore

Colliers Intl has appointed Rick Thomas to take on the newly created role of head of occupier services in Singapore with immediate effect, it announced on Mon. Mr Thomas was most recently executive director of corporate solutions for…

CEO of Frasers Centrepoint Trust’s manager Chew Tuan Chiong to retire by end-2019

Chew Tuan Chiong, CEO of Frasers Centrepoint Asset Mgmt, will step down by year-end, the manager of Frasers Centrepoint Trust said on Mon morning. Dr Chew, now 61, has told the board that he plans to retire from…

Probe big difference in valuation and buyout amount

I read with much consternation the report on a private investor acquiring Ascott Reit’s Ascott Raffles Place Singapore (Private investor buys Ascott Raffles Place for $353m; Jan 10). The report also indicated that the sale price was 64.3…

Do more to prevent anti-competitive acts

I was surprised to read that CCCS is seeking public feedback on proposals by two lift companies. When town councils first took over the maintenance of lifts in HDB estates almost 30 years ago, they faced the problem…

Too many variables to assign risk value to trees

I do not think it is justified to spend resources on risk assessing and labelling trees for instrumentation monitoring (Think out of the box to tackle tree-falling problem, Dec 27, 2018). Planting the right trees in the right…

Mixed-use development near upcoming Bidadari estate for sale at $8.5m

A freehold five-storey mixed-used development at 2 Ruby Lane has been put up for sale via EOI with a guide price of $8.5 million, revealed PropNex. Situated on an approximately 1,791 sqft site, the property has a total…

Singapore developers remain pessimistic about the property market

Singapore developers remain pessimistic over the state of the property market, even as the RESI posted a marginal uptick during the fourth quarter of 2018. The survey revealed that the Current Sentiment Index rose from 3.9 in Q3…

Shares of Boustead Singapore, Boustead Projects up on $200 mil contract win

Boustead Singapore’s on Fri night announced that Boustead Projects, its 53% owned subsidiary, had won a contract worth over $200 million to design and build Surbana Jurong Campus. Located at the 600ha JID Surbana Jurong Campus will be…

In cutthroat shipping industry, Singapore’s moves to increase its berth rate are paying off

In the cutthroat world of shipping, Singapore has cemented its role as a global maritime powerhouse thanks to a deal signed between its port operator PSA and Japan’s Ocean Network Express (ONE) last month to operate four mega…

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