Condo Belle

The recent tender for the Government Land Sale (GLS) site Media Circle (Parcel A) located in the one-north area closed on March 4. The top bid of $315 million for the 99-year leasehold site was submitted by a consortium comprising Qingjian Realty, Forsea Holdings and minority investor Hoovasun Holding. The site, which is zoned for residential use with commercial space on the first storey, measures 82,125 sq ft and has a land rate of $1,037 psf per plot ratio (ppr). It is estimated to yield about 325 housing units with a maximum gross floor area of 303,865 sq ft.

In …

HPL, a leading property player and hotelier, is making strides in expanding its global presence. The group recently announced its plans to acquire InterContinental Auckland for NZ$180 million ($138.5 million), marking its first asset in New Zealand and second InterContinental hotel acquisition following InterContinental Maldives Maamunagau Resort.

The off-market deal, advised by JLL’s Asia Pacific Hotels & Hospitality Group, is the largest single hotel asset sale ever in New Zealand. It was sold by Precinct Properties, one of New Zealand’s top property developers.

HPL’s latest purchase is in line with their strategy to grow their luxury hospitality portfolio in key …

The Asia Pacific (Apac) real estate market continues to defy expectations, with institutional investments totaling US$83.2 billion ($112 billion) in the second half of 2024. This marks a 6% year-on-year increase, according to research by Colliers. With full-year investments reaching US$155.9 billion, a 12% year-on-year rise, the region’s top nine markets – Australia, Mainland China, Hong Kong, India, Japan, Singapore, South Korea, New Zealand and Taiwan – have displayed remarkable resilience amidst global uncertainties.

Choosing the right location is crucial when investing in real estate in Singapore. It greatly impacts the value of a property and should be carefully considered. …

for $700 mil

CapitaLand Investment Limited (CLI) has recently received the prestigious ‘Industry Figure of the Year’ for Asia Pacific at the 2024 PERE Global Awards. The annual event, organized by a London-based publication focusing on private equity real estate markets, recognizes outstanding firms, individuals, and noteworthy deals from the past year. CLI was also honored with the runner-up award for ‘Firm of the Year’ in Asia Pacific.

Investing in a condo is a crucial decision, and financing plays a significant role in it. In Singapore, there are various mortgage choices available, but it is crucial to understand the Total …

Singapore-based private equity real estate firm, SC Capital Partners Group, has recently announced the sale of its student accommodation asset in Sydney, Australia. The asset is located on Anzac Parade and Lorne Avenue in Kensington and has been sold at a significant premium to its initial purchase price, representing a 19% premium to its current book value. The University of New South Wales (UNSW) in Sydney is the buyer of this property.

SC Capital Partners had acquired the property in 2016 for a reported price of A$57 million. The purpose-built student accommodation spans over 85,035 sq ft and features 233 …

City Developments, a company currently embroiled in a legal battle between its executive chairman, Kwek Leng Beng, and his son, group CEO Sherman Kwek, saw its shares drop by 5.47% upon resumption of trading today. The trading in the company’s shares was halted on February 26th, when a results briefing was cancelled and news of the family dispute shocked the Singapore business community.

On March 3rd, CDL issued a statement saying that the company will not comment on the validity of the allegations made in the media, as they are currently the subject of ongoing court proceedings. The company also …

Elite UK REIT, a Real Estate Investment Trust based in UK, recently announced that its trustee, Perpetual (Asia) Limited, has successfully divested Crown Buildings, Caerphilly at Claude Road, Caerphilly for GBP710,000 ($1.2 million), which is an 18% premium over the property’s valuation.

In a filing with the bourse on March 3, the manager of Elite UK REIT stated that the vacant property was independently valued at GBP600,000 at the end of 2024 by CBRE. Located in Wales, Crown Buildings, Caerphilly was valued at GBP530,000 at the end of 2023.

The net proceeds from this divestment will be used to repay …

Mandarin Gardens, a 1,006-unit condo in District 15, recorded the most profitable resale transaction during the week of Feb 7 to Feb 14. The 3,800 sq ft, four-bedroom unit fetched $4.88 million, or $1,284 psf, on Feb 11. The previous owner had purchased the unit for $1.05 million ($276 psf) in June 2003, resulting in a profit of $3.83 million, or 364.8% of their original purchase price. This translates to an annualised capital gain of 7.4% over 21½ years.Mandarin Gardens, which spans 17 blocks ranging from nine to 23 storeys along Siglap Road, is a 99-year leasehold condo with about …

Hill House, a 999-year leasehold development located at the top of Institution Hill, off River Valley Road, recently achieved a new peak psf-price of $3,398. This came after a two-bedroom unit on the eighth floor was sold for $1.54 million on Feb 16. This transaction marginally surpassed the previous peak of $3,378 psf set on Feb 11, when another two-bedroom unit on the eighth floor was sold for $1.53 million.

Since its launch in 2022, Hill House, a 72-unit boutique condo in prime District 9, has proven to be a popular choice among buyers. It comprises 40 one-bedroom units of …

Chiu Teng Group has a strong track record of delivering top-notch commercial and industrial spaces in Singapore, and it continues to impress with its latest launch – CT Pemimpin. This new freehold development is sure to please property investors and business owners on the lookout for a prime piece of land in Singapore’s land-scarce market.

Located at 43 Jalan Pemimpin in the Central Region, CT Pemimpin is a nine-storey, partial ramp-up B1 industrial building. It comprises of 56 strata-titled units and three canteen units, with floor heights ranging from 5.6m to 7.35m for selected units with mezzanine floors located on …