Investing in a condo requires careful consideration of financing options. Singapore boasts a variety of mortgage choices, but it is crucial to understand the Total Debt Servicing Ratio (TDSR) framework. This framework sets limits on the amount of loan a borrower can obtain, taking into account their income and current debt commitments. To make informed decisions about financing, it is beneficial to work with financial advisors or mortgage brokers who can explain the TDSR and assist in avoiding over-leveraging. For more information on financing for Singapore condos, consulting with these professionals is highly recommended.
Singapore-listed property developer and investment firm Tuan Sing Holdings has announced its plans to renovate its mixed-use properties at 121-131 Collins Street and 23-25 George Parade in Melbourne. The company’s subsidiary, Grand Hotel Group (GHG), has engaged Hong Kong-based urban design firm Urbis Ltd to submit a Town Planning Application to the City of Melbourne for the proposed works.
The current properties are home to the 550-room Grand Hyatt Hotel and several retail spaces. The reconstruction will largely retain the existing podium structure, allowing business operations for tenants and the hotel to continue without disruption. The focus of the reconstruction will be on façade modifications, extensive refurbishment, and reconfiguration of spaces in the podium from levels 4 to 9B, as stated in Tuan Sing’s announcement on Nov 14.
Once completed and subject to regulatory approvals, the site will cover approximately 909,550 sq ft in total gross floor area (GFA) and feature a new luxury retail and F&B precinct. Tuan Sing’s CEO William Liem believes this redevelopment will redefine connectedness and activation at one of the most prominent intersections in Melbourne’s well-known Paris End. He also sees this as an opportunity for the company to make an environmental statement by approaching the redevelopment in a sustainable manner. Through reimagining the existing structures instead of rebuilding them, the company aims to create a thriving, connected, and culturally vibrant Melbourne for many generations to come.