The government land sales (GLS) tender for a mixed-use site at Tampines Street 94 has attracted significant interest, with six bids received before the bidding closed on September 19. The highest bid of $668.28 million, or $1,004 per square foot per plot ratio (psf ppr), was submitted by a joint venture between Hoi Hup Realty and Sunway Developments.

Spanning 252,989 square feet with a maximum gross floor area of 665,366 square feet, the 99-year leasehold site has the potential to yield about 585 residential units, according to Urban Redevelopment Authority (URA). The top bid of $1,004 psf ppr is only 1.9% higher than the second highest bid of $985 psf ppr submitted by Sing Holdings Residential, indicating the close competition among bidders.

Justin Quek, CEO of OrangeTee & Tie, notes that this is the highest number of bids received for a non-EC site since November 2023, when a residential development …

REAL ESTATE DEVELOPERS’ ASSOCIATION OF SINGAPOREBUILDING WORKS APPROVALS Comments

The Land Transport Authority (LTA) has announced that it is currently developing an AI chatbot to assist developers and contractors in complying with regulatory requirements. This was revealed by Minister of Transport Chee Hong Tat at the mid-autumn lunch organized by the Real Estate Developers’ Association of Singapore (REDAS) on September 17, where he was the guest of honor. This initiative is part of the government’s ongoing review of existing regulations and efforts to streamline procedures for approvals for road and building works. OKP Holdings secures new contract from LTA worth $92.9 mil, orderbook hits record of $735.2 millionChee mentioned that the AI chatbot is aimed at helping developers and contractors quickly verify the LTA regulations that will apply to their development proposals, eliminating the need to manually search for information online. He also noted that the chatbot would be able …

A freehold two-storey shophouse at 221 Rangoon Road is currently available for sale through an expression of interest (EOI) exercise. With a land area of approximately 2,145 sq ft and a total built-up area of about 3,347 sq ft, the property is zoned for residential use under the 2019 Master Plan with a gross plot ratio of 3.0. It is being offered at a guide price of $8.88 million, which equates to $2,653 psf on the built-up area.

This shophouse features a ground floor that is approved for F&B use and is presently tenanted to a restaurant, while the upper floor is occupied by residential tenants. According to Sammi Lim, founder and executive director of Brilliance Capital, the sole marketing agent for the property, this provides potential buyers with an immediate rental income. Lim also expects strong interest from co-living operators, boutique developers, and family offices seeking a freehold asset.…

During the week of Sept 3 to Sept 10, a resale transaction at Botanic Gardens View set a new record for the most profitable condo sale. The three-bedroom unit on the sixth floor, measuring 1,755 square feet, was sold for $4.13 million at a rate of $2,353 per square foot on Sept 9. The seller had previously bought the unit back in July 1998 for approximately $862,000, at a rate of $491 per square foot. The impressive transaction resulted in a gain of $3.27 million for the seller, which equates to a whopping 379% increase in capital gain over the 26 years of ownership.

This sale now stands as the most profitable resale deal recorded in the history of Botanic Gardens View. The previous highest gain was $3.14 million, achieved in August 2019 when a 1,615 square feet unit was sold for $4.07 million (equating to a rate of $2,521 …

Most expensive four-room HDB in Singapore sold for $1.128M, a new high

A four-room HDB flat at 590B Ang Mo Kio Street 51 was recently sold for a record-breaking $1.08 million, making it the highest transacted price for a four-room flat in the Ang Mo Kio Planning Area. The 1,001-sq ft flat, located on the 28th to 30th storey and completed in 2019, was sold for $1,079 psf. Using our analytics tool, ‘Is it a Good Deal?’, we analyzed whether the buyer secured a good deal.

This HDB flat is located in a well-connected and convenient location, with amenities such as Ang Mo Kio MRT Station, Jing Shan Primary School, Anderson Secondary School, AMK Hub, Cheng San Market and Cooked Food Centre, Chong Boon Market and Food Centre, and Ang Mo Kio Town Garden East within a 500m radius (see Map 1). Our analytics tool highlighted that this flat has …

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 …