Author: sovietarmy

The retail space at Sultan Plaza, located at 100 Jalan Sultan off Beach Road, is now up for sale through an Expression of Interest (EOI) with a guide price of $39 million. The strata area of the property is 30,946 sq ft, which translates to $1,260 per square foot on total strata area. The net leasable area covers approximately 17,000 sq ft, not including the void space of 14,000 sq ft.

Situated on a 99-year leasehold land, the asset comprises of 211 commercial units and 33 offices, making up a total of 244 strata lots across nine storeys. With a lease that began in May 1978, the property has approximately 46 years left on its lease term.

One of the key features of this development is that it is fully zoned for commercial use and offers large single-floor plates with a public entertainment license. This is a rare offering in …

There is a wave of change happening in the renowned housing enclave of Gilstead Road, Gentle Road and Buckley Road, which is located just off Newton Road in prime District 11. According to Brenda Zee, senior executive group division director at ERA Realty Network, this area was once a predominantly bungalow area and home to many of the Who’s Who in Singapore.

However, in recent years, there has been a gradual shift in the landscape as many of the bungalows have been sold to buyers who saw the potential to redevelop them into semi-detached houses, strata-titled landed housing projects or low-rise condominiums. Some notable examples are Buckley Classique, Gilstead Two and Villas @ Gilstead.

The most significant deal was the sale of two adjacent freehold bungalows at 32 and 34 Gilstead Road, with a combined site area of 43,458 sq ft for $70 million ($1,611 psf), according to a caveat …

“Parkway Hospitals pays $31.33 million for sixth floor office at Tong Building for expansion into Orchard Road medical hub

Last week, EdgeProp Singapore announced the sale of the entire sixth floor of Tong Building on Orchard Road for a record-breaking price of $31.33 million, equating to a record $4,562 per square foot (psf) based on a September 3 caveat. The deal was facilitated by Yap Hui Yee, Executive Director of Investment Sales and Capital Markets at Savills Singapore. The 6,867 square foot strata office floor was acquired by Parkway Hospitals Singapore, a subsidiary of Bursa Malaysia-listed private healthcare provider IHH Healthcare.

In a press release, Savills stated that the purchase of the freehold office floor aligns with Parkway Hospital’s expansion plans. The location, just a short walk from Mount Elizabeth Hospital which is also owned by IHH Healthcare, makes it the perfect investment for the hospital operator.

Moreover, Parkway Hospitals …

Rezt+Relax Interior Design is pleased to announce its latest partnership with PAL Design Group, a renowned interior consultancy firm based in Hong Kong. This collaboration marks an exciting new chapter for both firms as they join forces to offer innovative, sophisticated, and luxurious design solutions for high-end residential projects in Singapore.

Investing in a Singapore Condo has become an increasingly popular option for both local and foreign investors, thanks to the country’s strong economy, stable political climate, and excellent living standards. With a real estate market that offers a plethora of possibilities, condos are a particularly attractive option due to their convenience, amenities, and potential for high returns. This article will delve into the advantages, considerations, and steps to take when investing in a condo in Singapore.

Since its establishment in 1994, PAL Design Group has built a strong reputation for its work on large-scale interior design projects. Known for …

The purchase of a condominium in Singapore offers numerous benefits, and one of the most notable is its potential for capital appreciation. This thriving country is a top global business hub and boasts strong economic foundations, creating a consistent demand for real estate. Over time, the real estate market in Singapore has shown a consistent rise in property prices, particularly in prime locations, resulting in substantial gains for condo owners. By strategically investing at the right time and holding onto their properties for extended periods, investors stand to reap significant profits. Additionally, keeping an eye on new condo launches can help investors stay updated on the latest property opportunities and capitalize on potential market growth.

by EOI

Two adjoining conservation shophouses on Telok Ayer Street are now available for purchase through an expression of interest (EOI) exercise with an indicative price of $42 million. These two properties, located at 132 …

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When it comes to investing in real estate, the location plays a crucial role, especially in a country like Singapore. In this country, condominiums located in central areas or near important amenities like schools, shopping centers, and public transportation hubs have a greater potential for increasing in value. Some of the most sought-after locations include Orchard Road, Marina Bay, and the Central Business District (CBD), which have consistently shown a steady growth in property values over the years. Moreover, the presence of reputable schools and educational institutions in these areas make condominiums even more desirable for families, making them a lucrative investment option. This is why a growing number of investors are taking an interest in Singapore projects, recognizing the potential for high returns in these prime locations. If you are interested in exploring investment opportunities, consider checking out Singapore Projects.

with private berthSentosa Cove reboots its development …

Sales of new homes in Singapore saw a significant drop in August, according to data released by URA on September 16. A total of 208 new homes, excluding executive condos (ECs), were sold during the month, marking a 63.6% decrease from the 571 homes sold in July. Compared to the same period last year, sales were down by 47.2% from 394 units sold in August 2023.

The decline in sales can be attributed to the absence of new launches for sale in August, which coincided with the lunar seventh month. Only 272 units were launched for sale, which is 55.8% less than the previous month and 53.9% lower than the same period last year.

In total, including ECs, 244 new homes were sold in August, representing a decline of 59.5% from the 608 units sold in July.

Among the top-selling projects was Tembusu Grand, a 640-unit condo located along Jalan …

The Urban Redevelopment Authority (URA) declared on September 13 that the 6.5 hectare master developer site at Jurong Lake District (JLD) has not been awarded. The site was put up for sale on June 22, 2023, with the aim of being “the starting point for the next phase of development in JLD”.

The tender for the JLD site closed on March 26, 2024, with only one bid received from a consortium of five developers, including CapitaLand Group, City Developments Ltd (CDL), Frasers Property, Mitsubishi Estate Co. and Mitsui Fudosan Co. Ltd. The consortium offered two concept proposals for the site, with each developer taking a different stake in the project. However, URA has decided not to award the tender as the proposed price of $6,888.90 per square meter of gross floor area (GFA) was deemed too low.

The JLD master developer site will now be placed on the Reserve List …

Mr Chua, a Hong Kong-based investor, and his family were among the first 25 buyers at Draycott Eight, a luxury condominium with 136 units in Singapore. The condo was launched in late 2005 and the Chua family purchased a four-bedroom unit on the 14th floor in June 2006. The unit, which spans 2,896 sq ft, was purchased for $5.1 million ($1,762 psf). One of the main reasons for the purchase was the prime location of Draycott Eight, which is situated at Draycott Park, just off Scotts Road and Orchard Road. Additionally, the Chua family was also drawn to the fact that close family members had purchased units in the same area. They were happy with their purchase and later decided to buy an adjoining four-bedroom unit in the same condo. This second unit, which is slightly smaller at 2,863 sq ft, was purchased for $5.65 million ($1,973 psf) in November …

Singapore’s condo investment scene is greatly affected by the government’s efforts to maintain a stable real estate market. In order to prevent speculative buying, the government has implemented several cooling measures over the years. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those looking to purchase multiple properties. While these measures may have immediate effects on the profitability of condo investments, they ultimately contribute to the long-term stability of the market, making Singapore a secure environment for condo investment. Condo investors should take these measures into consideration when deciding on their investments.

The Urban Redevelopment Authority (URA) has released the tender for the Government Land Sale (GLS) site at Faber Walk in Clementi on September 12. The site is included in the 2H2024 GLS Confirmed List programme, and it is the final parcel of land available for sale in the private …