Collective sale of Tanjong Katong development relaunched at $63 mil

At a guide price of $63 million, owners of the 26-unit walk-up development at 52 to 62H Tanjong Katong Road have relaunched the property for tender. Boasting a land area of 32,397 sq ft, the four-storey development has the potential to yield up to 45,356 ft of gross floor area upon redevelopment. It could potentially have 49 residential apartments with an average size of 915 sq ft.

The guide price translates to a land rate of $1,401 psf per plot ratio (psf ppr) including an estimated land betterment charge of $530,000. However, this could be lowered to $1,375 psf ppr after factoring in a 7% bonus balcony gross floor area.

The tender for the property closes on May 9 at 2pm. Located within a stone’s throw of Paya Lebar Commercial Hub, 52 to 62H Tanjong Katong Road is a 10-minute drive from the CBD and 500m walk from Paya Lebar …

Two shophouses at Perak Road up for sale at $13 mil

The sale of a pair of conservation shophouses located at 6 and 7 Perak Road has recently been announced with a guide price of $13 million. This translates to $2,425 psf on the total floor area, amounting to a total of 5,360 sq ft. The 11.4m-wide properties occupy a land area of approximately 2,870 sq ft, and enjoy a convenient location only a three-minute walk from Rochor MRT Station. With a well-maintained interior and external features, the current owner has reportedly been receiving multiple offers from prospective tenants seeking to rent the premises.

Currently approved for usage as a backpackers’ hostel, the properties may attract interest from investors in the tourism sector eager to tap into the renewed interest for conveniently located accommodation. Furthermore, with the absence of a buyer’s stamp duty payment and the potential for strong rental and capital growth, the shophouses can provide a prospective buyer with …

JLL promotes Sandeep Sethi to Asia Pacific division president for work dynamics

Sandeep Sethi has been appointed as division president of JLL’s Work Dynamics in Asia Pacific. In this role, he will be responsible for all clients across North Asia, in markets such as mainland China, Hong Kong and more. He has extensive management experience, with 10 years of service under JLL and 27 years of diverse corporate experience.

Sethi, based in Gurgaon, is set to report to Susheel Koul, who is JLL’s CEO for Work Dynamics in Asia Pacific. Koul stated that “Sandeep is an established leader and a respected client advisor with an astute understanding of the dynamic nature of commercial real estate. His appointment reinforces JLL’s commitment to developing and elevating our people to serve our rapidly diversifying client base across Asia Pacific”.

Expanding on Sethi’s current portfolio as the Managing Director and Head of Work Dynamics for West Asia, this new role will have him overseeing services delivered …

Shipyard at Benoi Road for sale at $11.3 mil

An extremely rare opportunity to acquire an industrial property of over 500,000 sq ft with waterfront access has been launched for sale at 1 Benoi Road in Singapore. The site has a guide price of $11.3 million and includes a two-storey office block with a single-storey annexe office, three blocks of single-storey workshop, a mould loft building, a fabrication workshop and wharf.

The property is situated in the Jurong Industrial Estate, located 24km from the City Centre and located near housing estates such as Jurong East, Jurong West, Bukit Batok and Boon Lay Gardens. The Ayer Rajah Expressway and Pan-Island Expressway provide easy access to other parts of the island, and Joo Koon MRT Station is just a five-minute drive away.

According to Isabel It, associate division director of Huttons Asia, the property has a regular shape with a corner frontage of about 255m on Benoi Road and Pioneer Road, …

GuocoLand sole bidder for Lentor Gardens GLS site at $985 psf ppr

GuocoLand tops bid for Lentor Central site with $1,204 psf ppr; sets new record for OCR land prices
GuocoLand tops bid for Lentor Central site with $1,204 psf ppr; sets new record for OCR land prices

The 99-year leasehold site for the lentor residential government land sale (GLS) at Lentor Gardens closed today with GuocoLand and Intrepid Investments (a subsidiary of Hong Leong Group) submitting a bid of $486.8 million and resulting in a land rate of $985 psf per plot ratio (psf ppr).

“For the Lentor Gardens site, we are envisioning a new high-end residential development with around 533 units, and with 600 sqm of childcare facilities,” says a GuocoLand spokesperson.

Mark Yip, CEO of Huttons Asia, noted that the bid of $958 psf ppr was the lowest for a land parcel in the Lentor precinct, and the first residential GLS tender to have received only one bid since …

The Myst Condo Prime Residential Development in the Heart of Bukit Panjang and Cashew Boasting Modern Amenities and Proximity to Green Spaces and Transportation Hubs

The Myst Condo is a fresh development situated in the center of Bukit Panjang and Cashew. City Developments Limited (CDL) Aries, an affiliate of a major non-governmental developer in Singapore, has acquired the rights to two plots adjoining each other at 798 and 800 Upper Bukit Timah Road in Tan Chong industrial park, which is in the northwest of the city-state. With a total area of 16,620 square metres (178,900 square feet), the Myst CDL property has been designated for residential use, with a plot ratio of 2.1. This enables the developer to build a high-rise of up to 24 storeys on the premium plot.

In the last few years, the city-state has sought to revitalize the Bukit Timah area with multiple initiatives introducing increased connectivity and additional green space. This includes the Railway Corridor development close to The Myst Condo, which will turn old railway tracks into a community …

Singapore office rents see subdued growth in 1Q2023: JLL

Despite macroeconomic uncertainty dampening demand for office space in Singapore’s Central Business District, Grade A office rents showed a modest growth of 1.0% in the first quarter of 2023. According to JLL Singapore’s research, the gross effective rent for CBD Grade A office spaces rose on a quarterly basis to an average of $11.30 psf pm.

This is the second consecutive quarter of slowing growth following five quarters of consecutive growth, which Andrew Tangye, JLL Singapore’s head of office leasing and advisory, attributes to companies pausing their expansion and relocation plans.

Tay Huey Ying, JLL Singapore’s head of research and consultancy, notes that despite the current caution in sentiment, the scarcity of Grade A office space has prompted some companies to upgrade offices to better quality spaces in recent or soon-to-be-completed projects. This includes Munich Re and Corney & Barrow, who respectively took up two floors in 18 Cross Street …

Driving Innovation and Sustainability of The Success Story of Tan Chong Industrial Motor in Bukit Panjang

Tan Chong Industrial Motor (TCIM) is a well-known automotive company based in Bukit Panjang, Singapore. Founded in 1972, TCIM has since grown into one of the largest automotive groups in Southeast Asia, with operations spanning across multiple countries such as Singapore, Malaysia, Thailand, and Indonesia.

The company’s main business is the distribution and retail of Nissan vehicles, as well as providing after-sales services and spare Marina Gardens Condo parts. TCIM has a strong reputation for its customer service, with a team of trained professionals who are dedicated to providing the highest level of service to customers.

One of TCIM’s most significant accomplishments is its role as the exclusive distributor of Nissan vehicles in Singapore. The partnership between TCIM and Nissan has been going strong for over four decades, with both companies sharing a commitment to quality and innovation.

In addition to Nissan, TCIM also distributes other automotive brands such as …

Bukit Panjang An Idyllic Suburb with Plenty to Offer for a Peaceful and Fulfilling Lifestyle

Bukit Panjang, a suburb located in the northwestern region of Singapore, is a hidden gem that offers a tranquil and peaceful lifestyle with plenty of amenities and facilities that cater to the needs of its residents. With a growing population of over 140,000 people, Bukit Panjang has become a popular choice for those looking for a quieter and more affordable alternative to living in the bustling city.

In this article, we will explore the reasons why Bukit Panjang is a very good place to stay and what makes it an ideal location for families, young professionals, and retirees looking for a peaceful and fulfilling lifestyle.

Convenient Location

Bukit Panjang is strategically located in the northwestern region of Singapore, making it easily accessible by public transportation, such as the MRT, LRT, and buses. Residents can enjoy the convenience of living in a suburban area while having easy access to the city’s …

Unveiling the Untold Story of CDL Real Estate Developer From Its Humble Beginnings to Global Recognition

When we hear the name “CDL Real Estate Developer,” the first thing that comes to mind is its reputation as a globally recognized developer with a portfolio of remarkable projects that redefine urban living. But behind this corporate identity lies a story of perseverance, innovation, and an unwavering commitment to excellence.

CDL Real Estate Developer: A Brief History

CDL Real Estate Developer (CDL) was founded in 1963 by Kwek Hong Png, a visionary entrepreneur who started his business as a small construction company. Over the years, CDL grew steadily, and in 1972, it was listed on the Singapore Exchange (SGX). Today, CDL is one of the largest and most successful real estate developers in Singapore, with a global presence in over 100 locations across 30 countries.

CDL’s early success can be attributed to its innovative approach to construction, which included the use of prefabricated building components, a rarity at the …

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