Month: February 2025

SINGAPORE (April 2024): Property consultancy Colliers predicts that the industrial property market in Singapore will see a slowdown in prices and rents this year due to a surge in supply and weaker demand. In their research report released in February, Colliers projected a modest annual growth rate of 0% to 2% in both industrial rental rates and prices for 2025, a significant decline from the 3.5% growth recorded in 2024.

According to Colliers, the market is already showing signs of slowing down, with the recent data from JTC indicating a loss of momentum. While the official data for 2024 is not yet available, the JTC All Industrial rental index rose by only 0.5% in the last quarter of 2024, marking the 17th consecutive quarter of growth. In comparison, rental rates had increased by 8.9% in 2023, showcasing a notable decrease in growth.

Similarly, the JTC price index also saw a …

Tan Boon Liat Building, a renowned industrial property which sits at 315 Outram Road, has recently been put up for collective sale. The reserve price for this freehold site is set at a whopping $1.15 billion. The property stands next to the upcoming Havelock MRT Station on the Thomson-East Coast Line (TEL) and is spread across two different land plots. Both of these plots are currently zoned for “Business 1” use and together, cover an area of approximately 175,655 sq ft.The most noticeable feature of Tan Boon Liat Building is its 15-storey structure that houses several furniture and home decor stores, making it a well-known location. The property’s advisor and marketing agent, Cushman & Wakefield, revealed that the Urban Redevelopment Authority (URA) has issued an Outline Planning Advice on Jan 22 recommending the site to be rezoned to “Residential with Commercial at 1st storey” with a plot ratio of 4.9, …

A new record has been set at Park Nova with the sale of its largest penthouse, as stated in a recent caveat lodged on the URA Realis database. The 5,899 sq ft, five-bedroom unit on the 20th floor was sold for a whopping $38.888 million, or $6,593 psf, by the developer.

This transaction has now set a new high in both absolute price and psf-price for a unit at Park Nova, surpassing a previous record held by a 4,499 sq ft penthouse which sold in May 2021 for $26.026 million ($5,784 psf).

Not only is this the highest price recorded for Park Nova, it is also the second-highest psf-price ever registered for a condo unit in Singapore. The only unit that held a higher record was a 3,089 sq ft, four-bedroom unit on the 20th floor of The Marq on Paterson Hill, which sold for $20.54 million or $6,650 psf …

CapitaLand Investment (CLI) has recently acquired a freehold land parcel in Osaka for the development of its first data centre in Japan. With an investment of over US$700 million or $944.3 million, the data centre project is expected to have a power capacity of 50 megawatts (MW).

CLI has stated that the data centre will be equipped with advanced cooling technologies and adhere to industry best practices in temperature management to reduce energy consumption. Additionally, the data centre will utilize environmentally friendly products with zero ozone depletion potential or global warming potential of less than 100.

According to Manohar Khiatani, Senior Executive Director of CLI, the acquisition aligns with the company’s investment theme of digitalization and strengthens its presence in one of its focus markets, Japan. He also states that CLI’s strong financial position allows them to strategically invest in quality assets like data centres for their future private funds.…