Condo Gine Star Fruits

, with 16 units soldMost buyers of Treasure at Tampines are HDB upgradersSunset Way freehold site for sale for $16 milTampines EC E-applications to start from July 10

The proud father, Mr. Chong, had always supported his three sons when it came to setting up their homes. While his eldest son opted for a private condominium, his two younger sons purchased executive condominiums (ECs). According to Mr. Chong, buying an EC at a new launch was a clear choice, even if it meant making the purchase shortly after the five-year minimum occupation period (MOP). He believed that it was still a good entry price.

Mr. Chong had witnessed both scenarios firsthand. His second son had purchased a three-bedroom unit at the Hundred Palms Residences, a 531-unit development by Hoi Hup Realty that was launched in July 2017. However, his son had originally wanted a four-bedroom unit, but they were quickly snatched up. Despite this setback, Mr. Chong’s son has seen significant capital gains as the development was completely sold out on the first day at an average price of $841 per square foot (psf). The EC, located on Yio Chu Kang Road, was completed in 2019. Based on recent transactions in January and February, the average selling price was $1,769 psf, an impressive 110% increase in just eight years.

Mr. Chong also shared that his second son’s EC unit, which measures 1,055 square feet, has appreciated by about $1 million since its launch. These impressive capital gains have motivated many to upgrade to private housing, according to Mr. Chong.

Singapore’s cityscape is characterized by soaring skyscrapers and state-of-the-art infrastructure, giving it a modern and cosmopolitan feel. One of the most prevalent features of this landscape is the presence of luxurious condos, strategically located in prime areas. These condos offer a perfect fusion of opulence and convenience, making them a sought-after choice for both locals and expatriates. The array of amenities they provide, including swimming pools, gyms, and top-notch security services, elevate the standard of living and make them highly desirable to potential tenants and buyers. Additionally, investors stand to benefit greatly from these condos, as these attractive features result in high rental returns and significant appreciation of property values over time. For those interested in the dynamic real estate market of Singapore, Singapore Condo is a name that cannot be overlooked.

After living in The Interlace for the past decade, Mr. Chong sold his 1,260 square feet, three-bedroom unit in 2017 when his youngest son decided to set up his own home. In 2021, the Chong family purchased a 1,399 square feet, four-bedroom, dual-key resale unit at Twin Fountains, a 418-unit EC in Woodlands. The development was completed in 2016 and was a joint venture between Frasers Property and Lum Chang. This dual-key unit provides Mr. Chong with privacy as he occupies the one-bedroom studio, while his son and family reside in the three-bedroom apartment. Each apartment has its own separate entrance, while the main entrance is shared.

Despite purchasing the unit at a record high price of $1,000 psf in 2021, Mr. Chong pointed out that recent resale transactions at Twin Fountains have exceeded this price. For example, in February, a four-bedroom unit measuring 1,206 square feet was sold for $1.62 million, which translates to $1,344 psf. Mr. Chong believes that even if buyers miss the opportunity to buy at launch, as his son did, they can still reap significant gains in the resale market. The current prices at Twin Fountains are 30% higher than the purchase price in 2021.

Last October, City Developments launched Norwood Grand, a 348-unit private condominium in Woodlands. About 84% of the units were sold during its launch weekend at an average price of $2,067 psf, setting a new benchmark for Woodlands. According to Mr. Chong, this launch, with its average selling price that is 53.8% higher than the latest resale price at Twin Fountains, has generated renewed interest in the northern region due to the announcement of revitalization and new infrastructure, such as the Johor Bahru-Singapore Rapid Transit System (RTS) with the Singapore terminus in Woodlands North.

While the prices of ECs continue to rise, and there are caps on loan quantum, Mr. Eugene Lim, the key executive officer of ERA Singapore, believes that demand for these properties is still sustainable due to their affordability and lower price per square foot compared to 99-year leasehold private condominiums in the same area. Additionally, buying an EC does not require buyers to dispose of their existing home and incur additional buyer’s stamp duty (ABSD), making it an attractive option for HDB upgraders. Moreover, EC buyers can opt for a deferred payment scheme, where they only need to pay a deposit, with their loan only starting after the completion of the EC. This helps buyers avoid servicing two mortgages simultaneously while waiting for their new home to be completed.

While three new EC launches are expected this year, Mr. Lim believes that they are strategically spaced out across different locations, including Tampines, Pasir Ris, and Tengah, catering to the housing needs of Singaporeans across the island. Despite higher upfront costs, buyers are not deterred by the rising prices of ECs as they still see value in these properties, particularly HDB upgraders who are not subjected to ABSD and have the option of the DPS. Additionally, there is still a 42% median price gap between similar-sized homes in the EC market and 99-year leasehold private condominiums in the Outside Central Region (OCR).

Ms. Christine Sun, the Chief Researcher and Strategist at OrangeTee Group, has observed that this gap has been narrowing in recent years, from 49.4% in 2023 to 44.2% in 2024, and 43.6% in January 2025. She attributes this to the fact that EC prices have risen at a faster rate of 9.6%, compared to a 5.3% increase in non-landed home prices in the OCR over the same period.

As new non-landed private condominium prices in the OCR crossed the $2,200 psf mark in 2024, new ECs were sold at a median price of $1,539 psf based on caveats lodged, according to Mr. Ismail Gafoor, the CEO of PropNex. This reflects a price gap of 44.2%. He expects that the median price of new condos this year will exceed $2,200 psf.…

Understanding the regulations and restrictions regarding property ownership in Singapore is crucial for foreign investors. While the purchase of Singapore Condo is generally permissible for foreigners, stricter ownership rules apply to landed properties. The ABSD, set at 20% for first-time property buyers, is an additional cost that foreign buyers must bear. Nevertheless, the stability and growth potential of Singapore’s real estate market remain alluring to foreign investors.

According to data from C9 Hotelworks, an Asia-based hospitality consultancy, the market value of branded residential projects in Asia has reached an all-time high of US$26.6 billion ($35.5 billion). This is due to the availability of over 68,000 luxury units in the region.

Leading the way in branded residential units is Vietnam, with 17,680 across 59 properties. The average price for a branded residential unit in Vietnam is approximately US$350 per square foot (psf). Thailand comes in second with 16,271 units in 65 properties, with most priced at US$510 psf. The Philippines follows with 13,276 units in 46 properties, priced at around US$400 psf.

However, branded residences in Singapore command the highest prices in the region at US$2,140 psf, followed by Japan at US$1,935 psf.

“There are also emerging markets where branded residences have seen rapid growth in recent years, such as South Korea with 3,026 units across 16 properties and Malaysia with 6,014 units in 24 projects,” says Bill Barnett, managing director of C9 Hotelworks.

In the post-Covid-19 era, urban-branded residences make up 56% of the existing supply in Asia. These luxury projects in urban locations dominate the market in terms of value. For example, urban branded residences in South Korea are priced at US$2,670 psf, which is more than half the cost of resort projects, typically priced at US$1,040 psf. Similarly, in Thailand, urban branded residences fetch an average of US$770 psf, while those in resort locations sell for around US$430 psf.

Asia’s branded residential market currently comprises about 12,330 units in 80 developments affiliated with luxury hotel brands, making up 31% of the market supply. “The data shows that a reputable brand can help a property command a premium price of 30% to 35% above the market rate in the country. It also helps the developer gain a larger market share in the country,” says Barnett.

The appeal of top hospitality and lifestyle brands has also led to an increase in licensing fees, with luxury hotel and lifestyle brands now asking for 6% to 10% of the sale of each branded residential unit.

Last August, Thai developer Ananda Development and German automaker Porsche, through its lifestyle brand Porsche Design, launched the ultra-luxury Porsche Design Tower Bangkok in Thonglor. The 22-unit tower, set to be completed in 2028, is the first Porsche residential tower in Asia, following the Porsche Design Tower Miami which debuted a decade ago. Prices for the duplexes and quadplexes range from US$15 million to US$40 million.

Gianfranco Bianchi, general manager of Asia Pacific at The One Atelier, an international design consultancy specialising in branded residences for lifestyle brands, notes that more luxury lifestyle brands have been exploring partnerships to license their branding into real estate developments in the Asia Pacific region in recent years.

The company has worked with several high-profile brands to create branded residences, including the 28-unit Fendi Casa Residences by Armani in Miami, the 259-unit 888 Brickell by Dolce & Gabbana in Miami, the 90-unit Büyükyalı Residences in Istanbul, Turkey and the Karl Lagerfeld Villas, a collection of five ultra-luxury villas in Marbella, Spain.

While hospitality-affiliated branded residences offer top-notch hospitality services, fashion or design-branded residences provide rare trophy homes that embody the luxury aesthetic of these brands. Ananth Ramchandran, head of advisory and strategic transactions in hotels and hospitality (Asia) at CBRE, says cooling measures in the property market have led many high-net-worth Singapore-based buyers to consider trophy assets in nearby regional markets.

“We have seen a significant decrease in the discussion and inquiries from Singapore developers to explore high-end ultra-luxury branded residential projects in Singapore,” he says, adding that developers are now discouraged from entering this segment due to the cooling measures which have dampened foreign buyer demand.

Singapore-based high-net-worth buyers are now increasingly looking at luxury-branded residences in destinations such as Phuket and Bangkok in Thailand, Bali in Indonesia, and emerging markets in Vietnam, which are just a two-hour flight away.

“We have observed an increasing number of regularly scheduled direct flights between Singapore and Phuket, making it a more attractive location for Singapore-based buyers,” says Ramchandran.

Jason Thelen, senior director of sales and marketing at Sudara Residences, a Thai-based developer, adds that “Singapore has quickly become our top regional market for buyers looking for second homes, making up over 45% of regional purchases.”

Hospitality operators like The Ascott are also tapping into the growing demand for branded residences in Asia, says Saowarin Chanprakaisi, vice-president of business development at The Ascott. “We believe that our brands such as Ascott, The Crest Collection and Oakwood Premier have a strong reputation in the market.”

She adds that branded residential operators must build and maintain trust in their brand to ensure that they can deliver the level of service that translates into the long-term value of the asset. As such, The Ascott is looking to expand its market share in the region by partnering with developers to enter the branded residential market.…

When contemplating a condominium investment, it is crucial to also evaluate the potential rental return. Rental return refers to the yearly rental income as a percentage of the condo’s purchase price. In Singapore, rental returns for condos can vary significantly based on factors such as location, property conditions, and market demand. Condos located in areas with high rental demand, such as those near business districts or educational institutions, typically offer a better rental yield. Thorough market research and seeking advice from real estate agents can provide valuable insights into the rental potential of a specific condo. For more information on potential investment options, you can explore Singapore Projects.

Malaysian real estate company UEM Sunrise and Singapore-listed GuocoLand have recently signed a historic memorandum of understanding (MOU) between private companies from Malaysia and Singapore. The MOU, announced on February 27th, marks the first collaboration between the two countries in the Johor-Singapore Special Economic Zone (JS-SEZ).

The agreement will see UEM Sunrise and GuocoLand jointly develop select freehold land in Iskandar Puteri, Johor, with the aim of accelerating growth within the JS-SEZ. The signing ceremony was held in conjunction with the opening of UEM Sunrise Gallery Iskandar Puteri, a showcase of the company’s vision for the area.

Iskandar Puteri, which makes up Flagship Zone B of the JS-SEZ, is a strategic location for various industries such as manufacturing, business services, education, health, and tourism. With this collaboration, UEM Sunrise and GuocoLand aim to further unlock Iskandar Puteri’s potential and make it a more attractive destination for investment. This will be achieved through improving connectivity, nurturing talent development, and creating a business-friendly environment to drive sustainable economic benefits for Johor.

According to Hafizuddin Sulaiman, the Chief Financial Officer of UEM Sunrise, this partnership goes beyond just development and is about creating a thriving and future-proof economic hub that will bring long-term growth, job opportunities, and strengthen the JS-SEZ ecosystem.

The MOU will cover UEM Sunrise’s selected plots of land in two key master-planned areas within Iskandar Puteri – Gerband Nusajaya and Puteri Harbour. These sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making them ideal for driving long-term economic growth and positioning Iskandar Puteri as a robust business and investment hub.

Datuk Hisham Hamdan, Chairman of UEM Sunrise, highlighted in his speech that the JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all part of a bigger vision to establish Johor as a dynamic and progressive economy.

Cheng Hsing Yao, CEO of GuocoLand, also expressed his excitement about the collaboration, stating that the Singapore-listed property group will leverage their expertise in real estate development and asset management, as well as their understanding of the needs of companies from Singapore, Malaysia, and China looking to establish a presence in the JS-SEZ. He added that the combined experience of both companies will enable them to bring innovative developments to Iskandar Puteri and the wider JS-SEZ.

Prior to this collaboration, UEM Sunrise has played a significant role in the urban development of Iskandar Puteri with its existing residential townships, including the Aspira series and Senadi Hill, as well as commercial and retail hubs such as the upcoming 380-acre industrial park in Gerband Nusajaya.

The growth of Iskandar Puteri is expected to be further boosted by incentives and support schemes introduced by the Malaysian and Singaporean governments, which aim to attract more investments to the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.…

Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have just inked the very first Memorandum of Understanding (MOU) between private companies from Malaysia and Singapore for the Johor-Singapore Special Economic Zone (JS-SEZ). According to a press release dated Feb 27, the two groups will be teaming up to develop UEM Sunrise’s selected freehold land in Iskandar Puteri, Johor, in order to boost growth within the JS-SEZ. The MOU signing took place alongside the grand opening of UEM Sunrise Gallery Iskandar Puteri, showcasing the developer’s vision for the region.

Iskandar Puteri, designated as Flagship Zone B of the JS-SEZ, boasts a diverse range of sectors including manufacturing, business services, education, health and tourism. Those interested in investing in overseas properties will be pleased to know that there are plenty of projects available for sale in this area.

The MOU will cover UEM Sunrise’s chosen plots of land in Gerband Nusajaya and Puteri Harbour, two pivotal master-planned areas within Iskandar Puteri. The collaboration seeks to activate the full potential of Iskandar Puteri and enhance its appeal as a prime investment destination. The focus will be on improving connectivity, nurturing talent development and creating a business-friendly environment, with the ultimate goal of achieving sustainable economic benefits for Johor.

When it comes to investing in real estate, location plays a crucial role, and this is particularly true in Singapore. Condos located in central areas or near essential amenities such as schools, shopping malls, and public transportation hubs have a higher chance of appreciating in value. Prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) are perfect examples of areas where property values have consistently shown growth. Additionally, the presence of reputable schools and educational institutions in these locations make condos even more desirable for families, making them a wise investment choice. Plus, with Condo being in these sought-after areas, their investment potential is even greater.

Hafizuddin Sulaiman, CFO of UEM Sunrise, emphasizes that this partnership is about more than just development – it is also about creating a thriving, future-ready economic hub that will foster long-term growth, generate employment opportunities and strengthen the JS-SEZ ecosystem.

The chosen sites are strategically located near Singapore, Senai Airport and the Port of Tanjung Pelepas, making it an ideal location for businesses to thrive. The partnership aims to drive long-term economic growth and position Iskandar Puteri as a robust business and investment hub.

Datuk Hisham Hamdan, Chairman of UEM Sunrise, stated in a speech that the JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all part of a grand vision to establish Johor as a dynamic and forward-thinking economy.

According to GuocoLand CEO Cheng Hsing Yao, the Singapore-listed property group brings with them a wealth of experience in real estate development and asset management, as well as a deep understanding of the needs of companies from Singapore, Malaysia, and China seeking to establish a presence in the JS-SEZ. Together, the combined expertise of both companies will shape Iskandar Puteri and the wider JS-SEZ through innovative developments.

Prior to this collaboration, UEM Sunrise has been a key player in the urban development of Iskandar Puteri. The group has already successfully developed residential townships such as the Aspira series and Senadi Hill, as well as commercial and retail hubs. They are also currently working on a 380-acre industrial park in Gerband Nusajaya. With these existing developments, UEM Sunrise is in a prime position to drive the growth of Iskandar Puteri.

The growth of Iskandar Puteri is expected to be spurred on by incentives and support schemes introduced by both the Malaysian and Singaporean governments, aiming to attract more investments into the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.…

Frasers Property unveils new residential and commercial projects in Vietnam

Investing in a Singapore Condo has become a highly sought-after choice for both local and international investors. This is due to the country’s strong economy, stable political environment, and exceptional standard of living. Singapore’s real estate market offers a wide range of opportunities, with condos being a popular option due to their convenience, amenities, and potential for high returns. In this article, we will explore the benefits of investing in a Singapore Condo, important factors to consider, and the necessary steps to take.

Frasers Property has announced that it has formed a joint venture (JV) with two Chinese real estate groups to acquire a residential site in Shanghai, China. The site was acquired for RMB815.2 million ($151.9 million) through a tender by the Shanghai Municipal Bureau of Planning and Natural Resources. The JV partners include Xiamen ITG Real Estate Group and Shanghai-listed Gemdale Corporation.

According to a press release on February 26, the JV partners are planning to develop the site into a mix of 189 low-rise apartments, townhouses, and duplex units, with a total gross floor area of 334,714 square feet. The project will also incorporate design elements for flood mitigation and ultra-low energy building designs, including efficient thermal insulation, energy-saving door and window systems, reduced thermal bridging, and solar photovoltaics.

The development is expected to target upgraders and first-time homebuyers in the Fangsong Community of Songjiang District in Shanghai. This prime residential neighborhood is also located near two existing projects – Club Tree and Palace of Yunjian – that are joint ventures between Frasers Property and Gemdale Corporation.

“We are excited to partner with Xiamen ITG Real Estate Group and Gemdale Corporation in this joint venture, which not only strengthens our presence in Shanghai but also underscores our commitment to delivering high-quality residential developments that meet the evolving needs of the Chinese community,” says Lim Hua Tiong, CEO of emerging markets in Asia at Frasers Property.…

The recent events at City Developments (CDL) have been described as “serious lapses” in corporate governance by its Executive Chairman, Kwek Leng Beng. However, in a second statement released by Kwek, it seems that these lapses have been halted.

This follows a court hearing on Feb 26, where two newly appointed directors, Jennifer Duong Young and Wong Su Yen, have agreed not to exercise their powers as directors until further notice from the court. These two directors were appointed via directors’ resolutions in writing, but were deemed “irregular and hastily” appointed.

Kwek also stated that his son, Sherman Kwek, and Philip Lee, Wong Ai Ai, and other directors associated with them, have also agreed not to make any further changes to the board committees or management of CDL’s subsidiaries until the court gives further notice. Additionally, the “irregularly constituted” nominating and remuneration committee has been suspended from taking any further action.

This means that CDL’s board committees and the management of its subsidiaries are now protected from further attempts to destabilize or restructure them. Kwek stressed the importance of strong corporate governance in maintaining transparency, accountability, and responsible decision-making, which are crucial for maintaining investor confidence and protecting the interests of shareholders.

On the morning of Feb 26, CDL announced a trading halt and a last-minute cancellation of its FY2024 results briefing, citing a disagreement within the board over the composition and constitution of the board and board committees. However, CDL’s business operations remain unaffected and fully operational, with Sherman Kwek remaining as CEO until there is a board resolution to change leadership.

An added advantage of investing in a Singapore condo is the opportunity to leverage the property’s value for further investments. A large number of investors utilize their condos as collateral to secure additional financing for new investments, thus broadening their real estate portfolio. While this approach can potentially amplify returns, it is important to have a solid financial plan in place and carefully consider the potential effects of market fluctuations.

In Kwek’s previous statement, he accused his son, Lee, Wong, and a group of directors of attempting to gain control of the board and the group. He also mentioned filing court papers on Feb 25 to address this “attempted coup”. Kwek reiterated that they will continue to explore all legal options available to defend and protect the interests of CDL and its shareholders.

The company’s shares were last traded at $5.12 before the trading halt on Feb 26.…

28 May 2021 1st cheque of $500k giveaway to go to front-line healthcare workers in Singapore 1 month ago06:33SINGAPORE (THE BUSINESS TIMES) – Colliers is expanding its occupier services team across Asia Pacific with two new appointments, according to a Feb 25 release. Leanne Chin has been appointed as director of regional tenant representation for Asia Pacific. She will be based in Colliers’ Singapore office.Additionally, Colliers has appointed Ali Porter as director of enterprise clients for Hong Kong. Porter will move to Hong Kong from London, where he worked for Colliers’ Europe, Middle East and Africa business for the past four years.Under his new appointment, Porter will work with occupiers to align their real estate portfolio with their corporate strategies across Asia Pacific. read more

Fire Safety Engineer

Pasadena, California

Herman Goldner Company has been a leader in the Fire Protection market for 108 years. We are excited to announce that we have an immediate need to add a qualified Fire Safety Engineer to our team! We are seeking a candidate with the following qualifications: Bachelor’s degree in Fire Safety, Chemical Engineering, or related field

Minimum of three years of experience in commercial construction and building safety

Certified Fire Protection Designer (CFPD) or Professionally Licensed Engineer (PE)

Strong knowledge of fire codes and safety standards

Excellent verbal and written communication skills

Proficient in AutoCAD and Microsoft Office Suite

Must be able to travel overnight as necessary

Ability to work in a fast-paced, deadline-oriented environment

Must be able to read and interpret blueprint and construction documents

When it comes to real estate investments, location is undeniably a critical factor to consider, and this is especially true for Singapore. Condominiums that are strategically located in central areas or in close proximity to essential amenities, such as schools, shopping malls, and public transportation hubs, tend to have a higher appreciation in value. Some prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown a steady increase in property values. Additionally, the presence of reputable schools and educational institutions nearby makes condos in these areas highly sought after by families, thus further enhancing their investment potential. For more information on new condo launches, you can visit the website www.ginestarfruits.com.

Knowledge of hydraulic calculations, fire suppression systems, and fire alarm systems

Must live within commutable distance to Pasadena, CA area Required SkillsRequired Experience

PI106988905 Posted: 01/29/2019

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Fire Protection Designer

Pasadena, California

Herman Goldner Company has been a leader in the Fire Protection market for 108 years. We are excited to announce that we have an immediate need to add a qualified Fire Protection Designer to our team! We are seeking a candidate with the following qualifications: Associate’s degree in Fire Protection, or related field

Minimum of three years of experience in commercial construction and building safety

Certified Fire Protection Designer (CFPD) or Profess…

The exclusive marketing agent JLL has announced the collective sale of Ching Shine Industrial Building at a minimum price of $113 million. The freehold building, which comprises of 52 strata units and has a 100m frontage along Shaw Road, has been put up for tender.

The site has a total land area of 49,308 sq ft and a gross floor area of approximately 137,341 sq ft. Built in the early 1980s, the building is zoned as “Business 1” with a gross plot ratio of 2.5 under the URA Master Plan 2019.

According to JLL, more than 80% of the owners have already given their consent for the collective sale at the minimum price of $113 million. This translates to a unit land rate of around $823 psf per plot ratio at the existing gross plot ratio of 2.79.

One of the advantages of investing in a condo is the opportunity to leverage its value for future investments. This means that condo owners can use their property as collateral to secure more financing for new investments, allowing them to increase their real estate portfolio. This approach can lead to higher returns, but it also carries potential risks, making it essential to have a solid financial plan and carefully consider the possible effects of market changes. Furthermore, with the availability of New Condo Launches, investors have even more opportunities to diversify their portfolio and potentially increase their returns.

JLL has also stated that, subject to URA approval, the site could potentially be converted into a food factory. The National Environment Agency (NEA) has confirmed that the site meets the buffer requirements for redevelopment into a multi-user factory, while the Singapore Food Agency has informed URA of their in-principle non-objection to the proposed food factory.

On the other hand, the freehold asset could also present an investment opportunity for family offices seeking long-term growth, as well as owner-occupiers looking to establish a corporate presence, according to JLL. Nicholas Ng, senior director of capital markets at JLL Singapore, believes that the site would also appeal to developers, given the absence of additional buyer’s stamp duty which can impact project timelines.

The property is easily accessible via major expressways such as the PIE, CTE and KPE. It is also within walking distance from Tai Seng MRT Station on the Circle Line. Furthermore, it is located in the Tai Seng Industrial estate near popular food factories such as Breadtalk IHQ, Sakae Building, and Food Empire Building, along with amenities such as Grantral Mall @ Macpherson and 18 Tai Seng.

Not too far away, in November 2023, Noel Building, a freehold Business 1 industrial building at 50 Playfair Road, sold en bloc for $81.18 million, which was 17% above its $70 million guide price. Ng believes that this transaction clearly shows the “fervent demand” for such assets in the area. He adds, “We expect a similarly competitive response for Ching Shine Industrial Building.”

The tender for Ching Shine Industrial Building will close on April 3 at 3pm.…

In response to the trading halt it called for earlier today, City Developments Limited (CDL) has issued a statement explaining the reason behind it – a disagreement within the board regarding its composition and constitution, as well as board committees. However, the company assures that its business operations are still functioning normally and unaffected by the temporary suspension, as stated in its statement on Feb 26.

Investing in a condo in Singapore comes with numerous benefits, one of which is the potential for capital appreciation. As a leading global business hub, Singapore has a strong economy that continuously drives demand for real estate. This has resulted in a consistent growth in property prices over the years, particularly in prime locations where condos are highly sought after. By timing their investments correctly and holding onto their properties for the long term, investors can reap substantial capital gains in the thriving Singapore real estate market.

CDL has also confirmed that Sherman Kwek will continue to serve as the group CEO until a board resolution is made to change the company’s leadership. The issue is currently under review and the company will make further announcements in accordance with the listing rules of the Singapore Exchange (SGX) should there be any significant developments.

In a later statement, Kwek expresses his disappointment in the chairman and a minority of the board for their extreme actions in response to the disagreement. He clarifies that their focus as CEO and directors, with guidance from the company and independent legal counsel, has always been to strengthen governance. The trading halt earlier today was instigated by the minority, despite not having the approval of the majority of the board. Kwek emphasizes that this disagreement was not meant to remove the current chairman, but rather to improve the standards of governance and decision-making within the board.

Due to the ongoing legal proceedings, Kwek refrains from commenting on the matter and will provide further updates if any significant developments arise. CDL has also recently announced its financial results for the fiscal year ending Dec 31, 2024. However, the company has cancelled its 10am results briefing. CDL’s shares last traded at $5.12.

This article was originally published on (publication name).…