Stories By: The Edge (3,329 Articles Found)

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Private residential rents fall by 0.6% y-o-y in Singapore, but prices rise by 2.2% y-o-y in 2020

Singapore will be one of the key markets leading growth in APAC, with a growth of 4.5% or more, according to C&W’s latest The Signal Report: Investor’s Quarterly Guide to 2021. With ample cash reserves, the global economic…

Three-bedder at Centro Residences on the market for $1.48 mil

A three-bedroom unit at Centro Residences — located at Ang Mo Kio Ave 8 in District 20 — will be put up for auction for $1.48 million ($1,478 psf) on Mar 24 by Edmund Tie, which is handling…

Seller of Grange Residences unit makes $3.9 mil profit

The most profitable resale transaction during the week of Feb 16 to 23 occurred at the Grange Residences in prime District 10. A 2,852 sqft, four-bedroom unit there was sold for $7.38 million ($2,587 psf) on Feb 16.…

Blue Sun Holdings developing AI-managed green building in Tai Seng for $32 mil

Property investment company Blue Sun Holdings is refurbishing a freehold industrial building in Tai Seng into the first smart-managed green building in the industrial area. The 11-storey building at 7 Harvey Road was sold to the investment firm…

Amara Holdings buys Surrey Point for $47.8 mil

Amara Holdings has entered into an agreement to acquire Surrey Point, a freehold 10-storey apartment block at a purchase price of $47.8 million, or $1,332 psf based on maximum allowable GFA. The development consists of nine residential units…

Hotel Kai at Purvis Street on sale for $28.8 mil

A 32-room boutique hotel at 14 Purvis St in Bugis has been put up for sale at an indicative price of $28.8 million. This translates to $3,345 psf or $900,000 per key. The property sits on a site…

Freehold four-storey building at Kim Keat Road for sale at $9.5 mil

A freehold four-storey building at 8 Kim Keat Road has been put on the market at an indicative price of $9.5 million, or $1,335 psf based on built-in area. It sits on a 2,015 sqft site zoned “residential…

UOL to launch Canberra Drive project in 2Q, redevelop Faber House and enhance Odeon Towers

UOL Group is targeting to launch a new residential development at Canberra Drive in 2Q2021. The site will be developed by a JV between UOL, UIC and Kheng Leong. The total GFA of the development is 415,412 sqft,…

Fortune Park up for collective sale from $115 mil

Fortune Park, a freehold 10-storey residential block at 109 Tampines Road, will be up for collective sale through public tender by ERA at an indicative price of $115 million to $118 million. The DC is not payable because…

UIC secures first $300 mil in green and sustainability-linked loans

UIC has secured its first green and sustainability-linked loans totalling $300 million. The loans from UOB and DBS comprise two three-year revolving credit facilities. The first is a $200 million sustainability-linked loan, which is for partial refinancing of…

Freehold semi-detached house at 35 Jalan Arnap for sale at $10.98 mil

A freehold two-storey semi-detached house near Orchard Road has been offered by sale by tender at a guide price of $10.98 million ($2,072 psf on land area). Elevated above road level, the development enjoys an 11m frontage of…

2, 4 and 6 Mount Emily Road collectively sold for $18 mil

Three adjoining three-storey residential buildings at 2, 4 and 6 Mount Emily Road have been sold via a collective sale to ZACD Intl at $18 million. It is the first collective sale of the year. The freehold properties…

112 Telok Ayer Street up for sale at $8.8 mil

A two-storey conservation shophouse with attic at 112 Telok Ayer St has been put on the market for a guide price of $8.88 million. The property sits on a land plot measuring around 770 sqft and has a…

DC rates increase by 0.3% on average for non-landed residential and decrease 1.5% for commercial

MND has revised DC for the period of Mar 1 to Aug 31. For non-landed residential developments or redevelopments, DC rates have increased by an average of 0.3%. Sectors 97 and 98 witnessed the highest increase of 6.3%,…

CDL records $1.78 bil impairment on Sincere Property Group; declares $1.92 bil loss for FY20

City Developments Limited (CDL) has recorded a loss of $1.917 billion for the FY2020 ended Dec from earnings of $564.6 million a year ago. The significant loss was due to the group’s decision to write down 93% of…

Property segment boosts Tuan Sing to 55% increase in FY20 earnings of $52.4 mil

For the FY2020 ended Dec, Tuan Sing saw earnings of $52.4 million, 55% higher than earnings of $33.7 million the year before. FY2020 net profit was up by 78% y-o-y to $59 million, with its property segment resilient…

Ho Bee Land reports 2HFY2020 earnings of $46.5 mil, books fair value loss of $32.8 mil

Ho Bee Land has reported earnings of $46.5 million for the 2HFY2020, down 84% y-o-y, as it booked fair value losses of $32.8 million on investment properties for the six months ended Dec 2020. In contrast, it booked…

UOL posts 97% plunge in FY20 earnings to $13.1 mil on fair value losses on investment properties and other losses

UOL Group has reported a 97% plunge in FY2020 earnings of $13.1 million compared to earnings of $478.8 million in the FY2019. For the period ended Dec, the lower earnings were due mainly to fair value losses on…

Centurion’s controlling shareholder David Loh assumes executive role

Centurion Corp has re-designated one of its controlling shareholders, David Loh Kim Kang to be the executive director of the group, from non-executive director previously. As at Feb 26, Loh has entered into a three-year service contract with…

A slice of Paradise on Sentosa Cove

Interior designer Hege Torgersen reckons that she and her family were among the earliest residents at Sentosa Cove back in 2007. Home then was a corner terraced house at Ocean 8, a row of eight terraced houses along…

Buying in Sentosa Cove — at a discount to luxury homes on the mainland

Buying activity in Sentosa Cove has certainly picked up — especially in the second half of last year, post-”circuit breaker”, says Steve Tay, senior associate VP of List SIR. “I see more local Singaporeans viewing properties for investment…

Fixer-upper opportunity at Lakeshore View for $12.8 mil

Michael Wan, senior associate director of Savills Residential, has been managing a bungalow on Lakeshore View in Sentosa Cove on behalf of its absentee owners who are based overseas. They purchased the bungalow plot from SDC in 2005…

Executor sale of detached house at Kovan Close for $5.5 mil

A two-storey detached house at Kovan Close, consisting of four bedrooms and a helper’s room, will be put up for auction at a guide price of $5.5 million on Mar 24 by Edmund Tie. It is an executor…

Seller of Grange Residences unit reaps $3.9 mil profit

The seller of a unit at Grange Residences, along Grange Road, made the top gain of $3.9 million during the week of Feb 9 to 16. The 2,852 sqft unit on the eighth floor was bought for $3.48…

Cove Grove bungalow tests the market at $4,111 psf

Bungalow transactions in Sentosa Cove have picked up markedly since late last year. This year, two properties have been sold, according to caveats lodged in Feb: One on Paradise Island for $12.7 million ($1,296 psf) and another on…

Keppel Corp chairman Lee Boon Yang to retire, Danny Teoh to take over

Keppel Corp’s non-executive chairman Dr Lee Boon Yang will retire from the company with Apr 23 2021, right after its upcoming AGM. Danny Teoh, currently chairman of Keppel Corp’s audit committee, will succeed Dr Lee, a former long-serving…

APAC Realty reports FY2020 earnings of $16.3 mil, up 17.8%

APAC Realty, which owns the ERA property agency here, has reported earnings of $16.3 million for the financial year ended Dec 31 2020, up 17.8% over the preceding FY2019. Revenue in the same period was $395.1 million, up…

ISOTeam wins another $24.33 million worth of contracts

ISOTeam which provides painting and maintenance services, has been awarded contracts worth $24.33 million to be fulfilled between May this year and Mar 2024. Together with the $63.1 million worth of projects that it had clinched year-to-date for…

UIC sees 85% plunge in FY20 earnings of $90.2 mill due to lower revenue, fair value losses

UIC saw a 85% plunge in its earnings for the FY2020 ended Dec to $90.2 million, from $605.1 million a year ago. Excluding a fair value loss on investment properties amounting to $125.8 million, earnings for the full-year…

Huawei launches DIGIX Lab in Singapore; first tech hub in APAC to empower app developers

Huawei Mobile Services (HMS) today announced the opening of DIGIX Lab in Singapore, its first in APAC to empower mobile app developers and partners in the region. Located at Changi Business Park, Huawei leverages Singapore’s importance as a…

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