Live in the heart of it all

Step into a world that bings you the beat of waterfront living. Live and be seen at the centre of it all - Tribeca by the waterfront.

Imagine your own private oasis in the heart of the city. A lush paradise inspired by clean lines and distinctive facade, realizing a perfect blend of modernity and natural serenity. A magnificient freehold property, Tribeca by the waterfront offers you the opportunity to experience riverside living at its finest. Here, the choices are always yours to make - bask in the peaceful sanctity of modern refinement and pristine greenery, or move to the rhythm and pulse of the city.

• 0 Comments

Current major projects

• 0 Comments

Speculators a minority as they shoot for small flipping gains

By EMILYN YAP

This brings to mind the government’s warning last week - that some element of speculation is back in the property market. Industry watchers say, however, that subsales are common for fully sold projects and speculation still remains mild.According to industry watchers, sellers in the subsale market need to charge a premium of at least 5 per cent to break even. This would cover stamp duty, legal fees and any agent’s commission. To earn more, some may set prices which are up to 10 per cent more than what they paid.

• 0 Comments

SAVILLS Singapore has launched for sale two residential properties - the freehold No 3 Balmoral Road with an indicative price of $65 million; and an 86,402 square foot plot at No 162 Tagore Avenue, within the Teachers Housing Estate, with an indicative price of $15 million. The latter is being sold on a 99-year leasehold tenure by the Singapore Teachers’ Union, which holds the freehold interest in the property.No 3 Balmoral Road currently comprises a development of 11 apartments, all leased out, but Savills is marketing the property for its redevelopment potential. The property is owned by an investment company and has a land area of 23,821 sq ft, a permissible plot ratio (ratio of maximum gross floor area to land area) of 1.6 and a height restriction of 12 storeys.

• 0 Comments

(SINGAPORE) A plunge in Grade A office rents has raised Singapore’s competitive edge somewhat. According to Colliers International, office occupancy costs here were the fourth-highest among 26 Asia-Pacific cities in Q2 this year - down a notch from a quarter ago.

As rents stay weak while the economy stabilises, property consultants also expect some companies to take advantage of the situation to expand.

• 0 Comments

By UMA SHANKARI

However, rents in ‘other city areas’ fell more in Q2 than Q1, partly due to new supply that will be completed in the second half of 2009. Prime first-storey rents declined 3.1 per cent to $25.40 psf pm in Q2, more than the previous quarter’s fall of 2.2 per cent. 1.3 million sq ft or 56 per cent of new retail space that will be completed in the rest of the year will be in ‘other city areas’, DTZ estimates.

• 0 Comments

12.8% increase in average price of 2-bedroom units; firm expects full-year primary market sales to top 2006 figure of 11,147 units

 By KALPANA RASHIWALA

But DTZ considers the Q2 price gain a blip supported by buyers’ fears of missing the bottom, pent-up demand and low interest rates - rather than economic fundamentals.

• 0 Comments

• 0 Comments

• 0 Comments

Live in the heart of it all

Step into a world that bings you the beat of waterfront living. Live and be seen at the centre of it all - Tribeca by the waterfront.

Imagine your own private oasis in the heart of the city. A lush paradise inspired by clean lines and distinctive facade, realizing a perfect blend of modernity and natural serenity. A magnificient freehold property, Tribeca by the waterfront offers you the opportunity to experience riverside living at its finest. Here, the choices are always yours to make - bask in the peaceful sanctity of modern refinement and pristine greenery, or move to the rhythm and pulse of the city.

• 0 Comments

Current major projects

• 0 Comments

Speculators a minority as they shoot for small flipping gains

By EMILYN YAP

This brings to mind the government’s warning last week - that some element of speculation is back in the property market. Industry watchers say, however, that subsales are common for fully sold projects and speculation still remains mild.According to industry watchers, sellers in the subsale market need to charge a premium of at least 5 per cent to break even. This would cover stamp duty, legal fees and any agent’s commission. To earn more, some may set prices which are up to 10 per cent more than what they paid.

• 0 Comments

SAVILLS Singapore has launched for sale two residential properties - the freehold No 3 Balmoral Road with an indicative price of $65 million; and an 86,402 square foot plot at No 162 Tagore Avenue, within the Teachers Housing Estate, with an indicative price of $15 million. The latter is being sold on a 99-year leasehold tenure by the Singapore Teachers’ Union, which holds the freehold interest in the property.No 3 Balmoral Road currently comprises a development of 11 apartments, all leased out, but Savills is marketing the property for its redevelopment potential. The property is owned by an investment company and has a land area of 23,821 sq ft, a permissible plot ratio (ratio of maximum gross floor area to land area) of 1.6 and a height restriction of 12 storeys.

• 0 Comments

(SINGAPORE) A plunge in Grade A office rents has raised Singapore’s competitive edge somewhat. According to Colliers International, office occupancy costs here were the fourth-highest among 26 Asia-Pacific cities in Q2 this year - down a notch from a quarter ago.

As rents stay weak while the economy stabilises, property consultants also expect some companies to take advantage of the situation to expand.

• 0 Comments

By UMA SHANKARI

However, rents in ‘other city areas’ fell more in Q2 than Q1, partly due to new supply that will be completed in the second half of 2009. Prime first-storey rents declined 3.1 per cent to $25.40 psf pm in Q2, more than the previous quarter’s fall of 2.2 per cent. 1.3 million sq ft or 56 per cent of new retail space that will be completed in the rest of the year will be in ‘other city areas’, DTZ estimates.

• 0 Comments

12.8% increase in average price of 2-bedroom units; firm expects full-year primary market sales to top 2006 figure of 11,147 units

 By KALPANA RASHIWALA

But DTZ considers the Q2 price gain a blip supported by buyers’ fears of missing the bottom, pent-up demand and low interest rates - rather than economic fundamentals.

• 0 Comments

• 0 Comments

• 0 Comments

(SINGAPORE) Ion Orchard intends to launch an advertising campaign to promote the mall in the first quarter of next year - almost a whole year before the Orchard Road mall opens its doors to shoppers in end-2008.

Bold and fashionable: The ad campaign will seek to market Ion Orchard as a world-class retail destination

For starters, the mall will run a print ad campaign in selected international publications such as the Wall Street Journal Asia and the Financial Times.

• 0 Comments

It plans to develop International Bldg site with $62m state plot it is buying.

Hong Fok Corporation yesterday gave a glimpse of its plans for a commercial development on the combined site of its International Building property at Orchard Road and an adjoining 9,023 square feet plot along Claymore Hill that it plans to buy from the state for $62.35 million.

Based on earlier reports, International Building, inclusive of a surface carpark at the rear, has a total land area of 45,467 sq ft. In its statement to the Singapore Exchange, Hong Fok said that unless prior written permission of the government is given, the land it plans to purchase from the state will be used together with its International Building site for the purpose of commercial development with a gross plot ratio not exceeding 6.16.

• 0 Comments

Orchard Road prime rents have hit US$325 psf per year, making it the world’s 14th most expensive area for shopkeepers. By contrast, annual prime rents for sites on New York’s Fifth Avenue are US$1,500 psf, or US$922 for sites on the Avenue des Champs Elysees, in Paris.

Orchard Road is also the fourth most expensive shopping location in this region - after those in Hong Kong (Causeway Bay - US$1,213 psf/year), Tokyo (Ginza - US$683 psf/year) and Seoul (Gangnam Station - US$431 psf/year).

• 0 Comments

New outlets offering niche, top-end products liven up the ‘quieter’ part of Singapore’s premier shopping area, reports CHEAH UI-HOON

While the talk in town a week ago was about the government’s $40 million makeover of Orchard Road, the part of Orchard Road that stretches from Wheelock Place to Tanglin Mall has been going through some positive changes of its own.

• 0 Comments

Govt expected to put property up for sale with fresh 99-year lease.

Singapore Land Authority is putting up The Atrium @ Orchard for sale, BT understands.

Atrium @ Orchard: With 359,000 sq ft of office space and 16,000 sq ft of retail space, it has tenants like HSBC, Barclays, MTV

Market watchers say the property is expected to fetch over $1 billion. They reckon the Orchard Road property, which will be sold with a fresh 99-year lease, could fetch up to $3,000 psf of net lettable area (NLA).

• 0 Comments

More room for arts and cultural events; mall enhancement tender due in November.

Orchard Road is set for a $40 million facelift that will include state-of-the-art lighting, additional spaces for arts and cultural events and a more engaging pedestrian mall, in a bid to attract more local and foreign visitors.

The rejuvenation plans, which was initially outlined in 2005, were rolled out yesterday by the Singapore Tourism Board (STB), ahead of a tender for the main mall enhancement construction work. The tender will be called early next month.

• 0 Comments

Go-ahead for several projects to ease space crunch.

(SINGAPORE) OCBC Bank and its insurance subsidiary Great Eastern Holdings are poised to redevelop the Specialists’ Shopping Centre and Hotel Phoenix complex, together with shopping mall Orchard Emerald just across the road.

And when works are complete, the new project could have some 314,000 square feet of retail space, 66,000 sq ft of office space and 684 hotel rooms, judging by the two companies’ submissions to the Urban Redevelopment Authority (URA).

URA said that provisional permission for the development of the two properties was given in August this year.

• 0 Comments

PARAGON Shopping Centre has clinched two awards in Shopping Centre Scorecard, an annual national industry rating scheme which recognises well-run malls in Singapore.

Accolades: Paragon was tops in two of the three categories - best efforts in advertising & promotions and tenant relationships - awarded by the Shopping Centre Scorecard

Paragon, which is fully owned by Singapore Press Holdings Ltd (SPH), emerged tops in two of the three categories - best efforts in advertising & promotions and tenant relationships.

The results were based on votes by retailers. The contest is organised by the Singapore Retailers Association.

• 0 Comments