Stories By: The Edge (4,038 Articles Found)

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Hong Leong-led joint venture submits highest bid of $1,060 psr ppr for Lentor Hills Road Parcel A

While the tender for the GLS site at Jalan Tembusu closed with eight bids on Jan 18, the site at Lentor Hills Road (Parcel A) received just half the number of bids. The top bid of $586.6 million…

CDL top bidder for Jalan Tembusu GLS site at $1,302 psf ppr

The tender for two GLS sites at Jalan Tembusu and Lentor Hills Road (Parcel A) closed this evening. City Developments Ltd (CDL) emerged the top of eight bids for the Jalan Tembusu site, located off Tanjong Katong Road…

PropNex’s Aaron Wan buys second freehold shophouse, on Koon Seng Road

Aaron Wan, senior group district director at PropNex, has purchased his second shophouse — a non-conservation freehold shophouse at 94B and 94C Koon Seng Road in District 15. Wan declined to reveal the price of the shophouse. This…

CBRE adds two senior executives to Asia Pacific capital markets team

CBRE has announced two senior appointments to its capital markets team in APAC, effective as of Jan. Crystal Palar joins as an executive MD, capital markets, while Andrew Hunter joins as director, global capital. Both roles are based…

SLB more than doubles earnings of $12.0 mil in 1HFY2022

SLB Development Ltd has reported earnings of $12.0 million in the 1HFY2022 ended Nov 30, 2021, more than two times the earnings of $5.5 million in the same period the year before. EPS for the period stood 116.4%…

Lian Beng Group reports 15.5% lower earnings of $14.9 mil in 1HFY2022

Homegrown building construction and property development company Lian Beng Group has reported earnings of $14.9 million in the 1HFY2022 ended Nov 30, 2021, 15.5% lower than earnings of $17.6 million during the same period the year before. The…

Cairnhill conservation terrace: Old world charm, enduring treasure

David Tan, chairman of TID Associates, one of Singapore’s oldest interior design firms, had always wanted to experience “walking on water”. To create that effect at his home at 114 Cairnhill Road, Rene Tan, co-founder of RT+Q Architects,…

Single-storey GCB on Stevens Road going for $37 mil

A single-storey Good Class Bungalow (GCB) along Stevens Road is on the market for $37 million. It sits on an 11,047 sqft corner plot and the asking price translates to about $3,350 psf on the land area. The…

Four-bedroom unit at Goldenhill Park rakes in $1.67 mil profit

The sale of a 1,539 sqft, four-bedroom unit at Goldenhill Park Condominium was the most profitable resale transaction recorded during the week of Dec 28, 2021, to Jan 4, 2022. The unit fetched $2.75 million ($1,787 psf) on…

Colliers appoints head of industrial services in Singapore

Colliers has appointed Lynus Pook as head of industrial services, Singapore, effective immediately. Pook will be leading the industrial occupier and capital markets transactions involving data centres, industrial and logistics real estate in Singapore. He will also develop…

Pan-United and Shell sign MOU to explore decarbonisation solutions in built environment

Pan-United Corp and Shell Eastern Petroleum have signed a MOU on Jan 12 in a bid to explore decarbonisation solutions in the construction and urban solutions industries. The collaboration is expected to create benefits in terms of decarbonisation…

Unit at The Clift on the market for $1.6 mil

A one-bedroom loft unit at The Clift, located along McCallum Street in District 1, will be put up for bank auction for $1.6 million ($2,036 psf) on Jan 19, according to Edmund Tie, which is handling the auction.…

Singapore real estate draws $26.2 bil of investment sales in 2021: Cushman & Wakefield

Singapore’s real estate market attracted almost $26.2 billion in investment sales last year, an increase of 10.4% y-o-y, as economic recovery boosted investor confidence in the market, observes C&W. In 4Q2021, total investment volume moderated to around $7.4…

ESR-REIT divests 28 Senoko Drive for $12 mil

The manager of ESR-REIT has divested 28 Senoko Drive, a single-storey general industrial building, for a sale consideration of $12.0 million. The REIT entered into an agreement with Tat Seng Packaging on Jan 10. The divestment of the…

Singapore’s industrial sector to continue growth in 2022: Knight Frank

Singapore’s industrial sector is set to continue its growth this year, with investment activity likely to be driven by end-users looking for manufacturing facilities and Grade A warehouses with high quality specifications that meet growing supply chain demand,…

mm2’s agreement relating to proposed merger with Golden Village cinemas has lapsed

The long stop date of the Heads of Agreement related to the proposed merger of mm2 Asia’s cinemas business with GV cinemas in Singapore has lapsed. This comes after one or more conditions under the agreement were not…

Consider price moderation mechanisms between rounds of property cooling measures

The latest round of cooling measures is an effective way to counter the buoyancy of the private residential market. However, after a period of time, the impact of cooling measures seems to taper off, and a new round…

Keep an eye out for retail, office and hospitality S-REITs in 1QFY2022

Investors looking to invest in S-REITs should remain focused on the re-opening theme, such as retail, office and hospitality S-REITs in FY2022. This is as it continues to see favour in the new year, say DBS Group Research…

SPH REIT reports occupancy rate of 98.8% in 1QFY2022

The manager of SPH REIT has reported a high occupancy rate of 98.8% across its portfolio in the 1QFY2022 ended Nov. The REIT has also reported an improvement in its WALE to 5.5 years by NLA and 2.9…

Record $4.45 mil loss at Ritz-Carlton Residences

A 3,057 sqft, four-bedroom unit on the 25th floor at Ritz-Carlton Residences was sold for $11 million ($3,599 psf) on Dec 14 last year. The unit was purchased for $15.4 million ($5,053 psf) in Jan 2008. Thus, the…

With products in 40% of commercial buildings here, Johnson Controls cuts emissions through greening

Already under pressure from Covid-19 and related manpower shortages, the built environment sector must also contend with rising calls for green buildings and certifications. How can the construction sector, which accounted for 2.7% of Singapore’s nominal GDP last…

All S-REITs are equally good investments … Really?

Investments can be generally graded on a scale from worst to great investments. There are good investments and there are better investments. REITs are generally perceived as an attractive investment option for yield-hungry investors. S-REITs in particular offer…

The pros and cons of an MCT-MNACT merger

On Jan 3 and 4, the first two trading sessions following the announcement that Mapletree Commercial Trust’s (MCT) and Mapletree North Asia Commercial Trust (MNACT) planned a merger to create Mapletree Pan Asia Commercial Trust (MPACT), MCT’s unit…

Analysts see strategic positives from MCT and MNACT merger

Analysts are mixed on the prospects of Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT), with some giving “buy” recommendations and others, “hold” recommendations”. That said, all agree that there are strategic positives from the…

SLB Development to report ‘significant increase’ in net profit for 1HFY22; Lian Beng Group expects lower performance

SLB Development, a subsidiary of Lian Beng Group, has issued a positive profit guidance for the 1HFY2022 ended Nov 30, 2021. In its guidance, SLB Development says the group is expected to report a “significant increase” in its…

Singapore real estate investment in 2021 totals $25.8 billion, up 5.3% y-o-y

According to the latest quarterly investment report by Knight Frank Singapore, the last quarter of 2021 raked in $7.3 billion worth of real estate investment volume. This brought the total investment volume for the entire year to $25.8…

Detached home on Sentosa Cove’s Sandy Island for sale at $11 mil

A 2 ½-storey detached house at 12 Sandy Island in Sentosa Cove has been put up for sale via private treaty. The house, one of 18 on Sandy Island, was first put up for auction in Oct last…

Huttons Asia claims its place among the Big Three agencies

In early 2021, Huttons Asia had 3,211 agents. Mark Yip, CEO of the homegrown agency, had set a target of 4,000 agents by the end of the year. By Jan 3, 2022, the number of agents at Huttons…

PropNex bulks up, ready to seize bigger market share

PropNex, Singapore’s biggest agency by headcount, scored another coup on New Year’s Day with its latest tally of 10,798 agents, based on CEA public register. Over the past 12 months, 1,880 agents have joined the firm, says Ismail…

Singapore’s November retail sales up 1.9% y-o-y to $3.7 bil

Singapore’s total retail sales value increased 1.9% y-o-y to $3.7 billion in Nov 2021, according to data released by SingStat on Jan 5. The figures mark the second consecutive month of increase for retail sales on a y-o-y…

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