Month: December 2024

Hill House, Grange 1866, The CosmopolitanOct 28, Nov 11, Nov 25 & 27, Nov 27, Nov 22, Nov 25 2011. Grange 1866, Hill House and The Cosmopolitan were the top three condos that recorded new psf-price highs in the week of Nov 22 to 29.Grange 1866, a freehold development located on Grange Road in prime District 10, topped the list with a new price peak of $3,393 psf from the sale of an 818 sq ft, two-bedroom unit for $2.78 million on Nov 27. The 14th-floor unit surpassed the project’s previous record of $3,390 psf set in June last year when a 764 sq ft unit sold for $2.59 million.The boutique condo, Hill House, took the second spot with a new psf-price high of $3,378 psf from the sale of a 452 sq ft, two-bedroom unit for $1.53 million on Nov 25. The sale surpassed the project’s previous record of …

After two years of consecutive losses, the global real estate market saw a positive turn in the second quarter of 2024, indicating a potential recovery on the horizon. This shift comes after a period of high interest rates that drove real estate values to soar, with global total returns reaching 5.0% quarter-over-quarter in the fourth quarter of 2021 and 17.8% year-over-year in the first quarter of 2022. However, as interest rates tightened, these gains were erased and values worldwide returned to 2018 levels. As we believe that the correction in the real estate market is nearing completion, now is a favorable time for investors to reexamine this asset class. Real estate has historically offered stable income returns and diversification benefits in the long run, and has the potential to deliver strong returns during recovery periods. For instance, following the recession in the early 1990s, investors saw a cumulative return of …

An apartment at Island View, a freehold condominium located in Pasir Panjang, has recently been sold for the most profitable price in the week of November 26 to December 3. The spacious 3,498 square feet unit was purchased for $4.8 million, at a rate of $1,372 per square foot on November 27. The seller bought the property back in September 2005 for $1.3 million, which translates to $372 per square foot. After holding onto the unit for almost 19 years, the seller has made a significant gain of $3.5 million from the transaction. This represents a capital gain of 269% or an annualised profit of 14.2%.

The sale of this unit on November 27 has set a new record for the most profitable deal at Island View, surpassing the previous record of $3.19 million profit from the sale of another 3,498 square feet unit at the condo for $5.09 million, …

Cove, a flexible living platform established in Singapore, has welcomed real estate and hotel expert Ashish Manchharam as a new member of their board of directors.Manchharam, who founded and managed the company 8M Real Estate for over a decade, now serves as a director at Cove. With his strong background in real estate and hospitality, he aims to assist the company in expanding its reach and boosting its growth potential.In 2023, Manchharam decided to step down from 8M Real Estate, which had achieved a remarkable portfolio worth $1.5 billion. Not long after, he established his own company, Elevate Capital, which specializes in lifestyle-driven real estate investments.Using his extensive experience and expertise, Manchharam will provide advisory support to Cove in the acquisition of flexible living assets in collaboration with third-party investors such as real estate funds, institutional investors, and family offices. This move is in line with Cove’s strategy to speed …

William Liem, the CEO of real estate firm Tuan Sing Holdings, has once again increased his ownership in the company. On December 5th, Liem acquired 545,300 shares from the open market through his entity Nuri Holdings (S) for a total of $136,325 at 25 cents per share. The next day, Nuri Holdings bought another 1.2 million shares for $311,288.50 at approximately 25.9 cents per share.

This latest move brings Nuri Holdings’ stake in Tuan Sing to 672.7 million shares, equivalent to 54.09% of the company. Prior to the recent purchases, Nuri Holdings had also acquired shares on September 10th and 11th, paying an average price of between 25 and 25.5 cents per share.

As of June 30th, Tuan Sing’s net asset value per share was 97.8 cents, a slight decrease from 99 cents as of December 31st, 2023. In related news, Tuan Sing recently acquired several assets from PT Senimba …

The manager of AIMS APAC REIT (AA REIT) has announced that the REIT’s trustee, HSBC Institutional Trust Services (Singapore) Limited, has entered into a sales and purchase agreement with Crown Worldwide to divest its property located at 3 Toh Tuck Link. The sale consideration is worth $24.388 million, which represents a 32.5% premium to the property’s valuation of $18.4 million as of March 31. The property comprises of a three-storey factory and a five-storey ancillary office building, with a total gross floor area of 12,492.4 sqm.

According to Russell Ng, the CEO of the manager, the net proceeds from the divestment will be reinvested to support AA REIT’s growth initiatives, including potential acquisitions, asset enhancements, or future redevelopment projects. He further adds that this decision is in line with their proactive asset management strategy and efforts to rejuvenate their portfolio, ultimately strengthening the resiliency of AA REIT and delivering sustainable …

Keener interest in shophouses expected due to growing conservation movement

A historic shophouse located at 93 Tanjong Pagar Road is currently on the market for sale. The property is being offered through an expression of interest (EOI) exercise, with a guide price of $15.5 million. The 3½-storey shophouse sits on a land area of 1,297 sq ft and has a gross floor area (GFA) of 4,186 sq ft. Based on the guide price, the GFA translates to $3,703 per square foot.

The shophouse, which has a 99-year leasehold, is approved for F&B use and is currently tenanted by a popular Korean barbecue restaurant chain on levels 1 and 2. The property is conveniently located within walking distance to the Tanjong Pagar MRT Station on the East-West Line and the Maxwell MRT Station on the Thomson-East Coast Line.

The conservation shophouse is being marketed by PropNex Shophouse Elites, and the EOI …

The future of the former Golden Mile Complex has been revealed by Perennial Holdings and Far East Organization during a press conference on Dec 10. The joint development partners unveiled their plans for the preserved conservation building, now known as The Golden Mile, and announced the preview of the strata-titled commercial units.

The entire development, named Golden Mile Singapore, will be Singapore’s first large-scale strata-titled conserved building, maintaining its iconic identity as a tropical linear urban complex with brutalist architecture.

The revamped Golden Mile will consist of 156 Grade A office units, 19 medical suites, a two-storey retail component spanning 123,388 sq ft, and a public access architecture centre.

The development, designed by homegrown architecture firm DP Architects and conservation specialists Studio Lapis, aims to recapture the vibrancy and eclectic retail mix that defined Golden Mile Complex in its heyday. The refreshed Golden Mile Singapore will also feature two new …