Month: January 2025

CapitaLand Ascott Trust (CLAS) has recently made a significant acquisition in Japan, adding two freehold limited-service hotels to its portfolio for a total of JPY21 billion ($178.5 million). The two hotels, which are ibis Styles Tokyo Ginza and Chisun Budget Kanazawa Ekimae, are strategically located in Tokyo and Kanazawa, respectively. The purchase price for this acquisition was at an 8.3% discount to its independent valuation.

On a FY2024 pro forma basis, the acquisition has a distribution per stapled security (DPS) accretion of 1.6%, which is a positive boost for investors. Additionally, the blended net operating income (NOI) yield of the acquisition is expected to be 4.3% in FY2024. To hedge against currency fluctuations, the acquisition was funded by JPY-denominated debt and proceeds from CLAS’ divestment of four properties in Japan.

The first hotel, ibis Styles Tokyo Ginza, is located in Tokyo’s bustling shopping and entertainment district. With 224 units, the …

Mapletree Investments has expanded its presence in the European logistics sector with the acquisition of its first logistics property in the UK and 10 warehouses in Spain for a total of EUR315.1 million ($444.5 million). These acquisitions, spanning approximately 256,000 sqm, will serve as the initial assets of the group’s second European logistics-focused fund.

The move reflects Mapletree’s strategic plan to deepen its focus and expand its global reach in the logistics sector. In a press release issued on Jan 27, the group states that the fund will be launched “at an appropriate time after achieving sufficient scale.”

According to Ralph van der Beek, CEO of Mapletree’s European commercial and logistics arm, “Logistics remains a highly attractive sector that has consistently enjoyed strong demand from occupiers as well as investors.” He attributes this to the thriving e-commerce industry and companies’ efforts to secure and expand their supply chains.

Van der …

Please rephrase the attached article. Turquoise, the 91-unit luxury condo located at Sentosa Cove with a waterfront view, has three duplex penthouses available for purchase at $23 million. The largest of the three penthouses, situated in the 99-year leasehold condo, is a five-bedroom duplex covering 7,987 square feet. It is also the largest among the ten penthouses in the development.

This penthouse features a wine cellar, kitchen, and living area on the lower level, with four en suite bedrooms, two utility rooms, and a balcony. The upper level boasts the master bedroom suite, complete with a private infinity pool, pool deck, and outdoor shower. It is currently listed for $12 million ($1,502 per square foot).

The second-largest penthouse at Turquoise is a four-bedroom unit spanning 3,746 square feet, with a price tag of $5.99 million ($1,599 per square foot). The upper level of this penthouse includes a spacious open-air terrace …

The Botanic on Lloyd, a freehold condo, has achieved the highest psf-price among private non-landed developments, setting a new psf-price record during the period between January 3 and January 11. The new price peak was reached on January 7 with the sale of a 2,056 sq ft, four-bedroom unit on the second floor for $5.13 million, or $2,493 psf. This surpasses the previous high of $2,339 psf by 6.6%. The previous record was set in October last year when a 1,496 sq ft, three-bedroom unit located on the fourth floor was sold for $3.5 million.

The Botanic on Lloyd is a freehold boutique development with 60 apartments and six townhouses. The units range from three- to four-bedrooms, with sizes ranging from 1,485 sq ft to 3,584 sq ft. The townhouses feature five bedrooms and two private parking lots and range from 4,058 sq ft to 4,446 sq ft.

In Prime …

In its quarterly report published on Jan 24, HDB revealed that resale prices for public housing in Singapore have increased by 2.6% in the last three months of 2024, marking the 19th consecutive quarterly increase in the resale market. This brings the total price increase for the whole year to 9.7%. In comparison, resale prices only increased by 4.9% in 2023. The rise in prices during the fourth quarter was slightly lower than the 2.7% increase recorded in the third quarter. According to Mohan Sandrasegeran, head of research & data analytics at SRI, the strong growth in resale prices throughout 2024 can mostly be attributed to the limited supply of flats reaching their Minimum Occupation Period (MOP) during the year. This resulted in a tight supply, which put upward pressure on prices, especially for newer and larger flat types like five-room and executive units, which cater to the needs of …

A prime residential development site located at Jalan Naung is now up for sale through an expression of interest (EOI) with an asking price of $8.38 million. The land, which has a 999-year leasehold and spans 5,408 sq ft, falls under the residential zoning in the URA Master Plan 2019 and is situated within a three-storey mixed-landed area in District 19. This works out to be around $1,550 psf based on the land area.

The sole marketing agent for the land, Brilliance Capital, states that potential buyers can explore various development options for the site, including a detached house, a pair of semi-detached houses, or a strata mixed-landed development, subject to the necessary approvals from the relevant authorities.

The site boasts a prime location, within walking distance to Hougang MRT Station and Hougang Central Bus Interchange. In addition, it is also within close proximity to popular lifestyle hubs such as …

A site for residential development at Jalan Naung has recently been put on the market for sale through an expression of interest (EOI) with an asking price of $8.38 million. This prime location falls within the residential zone of the URA Master Plan 2019 and is situated in a three-storey mixed-landed area. The 999-year leasehold land parcel, covering a total area of 5,408 sq ft, is located off Upper Serangoon Road in District 19. At $1,550 psf on the land area, the asking price is highly attractive.

According to Brilliance Capital, the sole marketing agent for the land parcel, its potential for development is vast. Depending on approvals from the relevant authorities, the site could be transformed into a single detached house, a pair of semi-detached houses, or a strata mixed-landed development.

In addition to its great location, the site offers convenient access to various amenities. It is within walking …

Radisson Collection, a prestigious hotel brand owned by the Radisson Hotel Group, has recently inaugurated its new property in Galle, Sri Lanka. The stunning Radisson Collection Resort, Galle is the brand’s first hotel in the Southeast Asia and Pacific region, and the fourth addition to the group’s portfolio in Sri Lanka.

This luxurious hotel boasts 76 guest rooms and suites, all of which offer breathtaking views of the ocean. The hotel provides a range of top-notch amenities, including a beautiful beachfront pool, a kids’ club offering 24-hour nanny services, and several food and beverage outlets. Guests can indulge in delectable dishes at the Asian-Japanese fusion restaurant Ozen, or savor fresh seafood at Catch Restaurant. For a more exclusive experience, guests can visit Taboo Beach Club, where they can enjoy bottle service while lounging on sunbeds and daybeds by the beach.

Galle, situated on the mesmerizing southwest coast of Sri Lanka, …

In an effort to enhance their presence in third-world Asean countries, Meinhardt, a Singapore-based engineering consulting firm, has entered into a memorandum of understanding (MOU) with Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN). According to a recent press release on January 17, the two companies aim to collaborate on digital and smart city projects in these developing nations.

Through this MOU, both parties are keen on promoting innovative and sustainable urban solutions by exchanging knowledge and resources. JOIN, a Japanese public-private fund that supports Japanese infrastructure exports, will leverage its vast network and expertise, while Meinhardt will utilize its leadership in integrated planning, design, and project management solutions.

The collaboration was spurred by the Memorandum of Cooperation (MOC) signed between Japan’s Ministry of Land, Infrastructure, Transport and Tourism and Singapore Cooperation Enterprise in November last year, to facilitate the development of digital and smart cities in …

According to a press release on Jan 20, Minister for National Development Desmond Lee has announced the successful completion of the final two Build-to-Order (BTO) projects from HDB that were delayed due to the pandemic.

These two projects, Punggol Point Cove (Phase 2) and Kempas Residences, mark the completion of HDB’s pandemic-delayed housing projects. Over the past five years, a total of 92 projects have delivered more than 75,800 new flats to Singaporeans.

In 2024, HDB completed 22 housing projects, of which 17 were delayed due to the pandemic. Except for one project that faced non-pandemic related delays, the remaining four were completed on schedule.

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As part of these 22 projects, there were two Shorter Waiting Time (SWT) projects that were completed within a waiting period of less than three years. Parc Glen at Tengah and Grove Spring at Yishun, which are both SWT projects, accounted for a …