April 2019

SINGAPORE (EDGEPROP) – Singapore’s new-gen integrated development Funan has successfully obtained its Temporary Occupation Permit (TOP). This milestone puts Funan a step closer to opening its retail and office components in 2Q 2019, as announced last September. Funan is owned by CapitaLand Mall Trust (CMT) and managed by CapitaLand.From groundbreaking to completion, the construction of Funan took 27...

SINGAPORE (EDGEPROP) – Queensway Shopping Centre and its adjoining apartment, Queensway Tower, have started the process for en bloc sale. Berita Harian which reported on the en bloc attempt of Queensway Shopping Centre and Queensway Tower noted that the en bloc sales process was started after the property cooling measures introduced by the Government in July last year. Many en bloc sales attempt failed...

SINGAPORE (EDGEPROP) – Average prime CBD office rents grew for the seventh consecutive quarter, rising 2.3% in Q1 2019 from the previous quarter, says Colliers International research.Beach Road micro-market led the way in prime CBD office rent growth, clocking the fastest pace of rent increase compared with other micro-markets in Q1 2019Colliers Research expects net demand for prime CBD office space to...

SINGAPORE (EDGEPROP) – Realty Centre sold en bloc at $148 million, $17 million below the reserve price of $165 million.Realty Centre, located in the core central region submarket of Tanjong Pagar has been sold enbloc for $148 million. Brokered by Property Consultants Cushman & Wakefield (C&W), this is the first fully commercial collective sale site concluded this year.Image credit: Cushman &...

SINGAPORE (EDGEPROP) – Cushman & Wakefield announced on April 18 that they have brokered the sale of an office building – 7 & 9 Tampines Grande – to Evia Real Estate and Metro Holdings Limited. The Capital Markets team at Cushman & Wakefield secured the buyer on behalf of Alpha Investment Partners and City Developments Limited.The office building comprises a pair of eight-storey premium...

SINGAPORE (EDGEPROP) – The Malaysian Transport Minister’s commitment to the Rapid Transit System revival may add buzz to the rejuvenation efforts of the Woodlands area. “We are working on the supplementary agreement for six months and looking at other options on how to reduce the cost,” said Malaysian Transport Minister Anthony Loke at a joint press conference with his Singapore counterpart, Khaw...

SINGAPORE (EDGEPROP) – The Beach Road rejuvenation is all set to get a huge boost with the $2.4 billion mega mixed-use development, Guoco Midtown. In speaking to the media on the unveiling of Midtown’s concept on April 22, Mr Cheng Hsing Yao, group managing director of GuocoLand Singapore, said Guoco Midtown will feature a 30-storey office block, a residential tower with more than 200 units and an...

SINGAPORE (EDGEPROP) – A JLL research report referring to the Draft Master Plan 2019 (and in particular to the CBD Incentive Scheme) called it “visionary” and “bold”. The Urban Redevelopment Authority (URA) released information about the scheme on March 27, and it offers 25-30% higher plot ratios for owners who convert office buildings over 20 years old to other complementary uses in the CBD...

SINGAPORE (EDGEPROP) – The Gazania is a brand new FREEHOLD condo by SingHaiYi Group that’s located along How Sun Drive in Bartley area, District 19. The residential development is nestled both on the city fringe and within a walking distance from the Bartley MRT station. Its neighbourhood is pleasantly marked by a mixture of landed houses and low-rise apartments on a quiet private enclave.About Condo...

SINGAPORE (EDGEPROP) – Affinity at Serangoon is yet another exciting new property launch in District 19 by the renowned Oxley Serangoon Ltd. Designed by veteran and award-winning company DP Architects; the residence is set amidst lush beautiful landscaping that mimics a luxury resort. Affinity at Serangoon proffers future residents with not just a vibrant modern life and healthy, nature-inspired style...