Month: March 2025

Casa Fidelio, a landed housing development located on Fidelio Street in District 15, will be put up for collective sale through tender on March 20. According to PropNex Realty, the marketing agent for the site, the reserve price for the development is set at $24 million, which translates to a land rate of $1,388 per square foot (psf). This is the first attempt at an en bloc sale by the owners of Casa Fidelio.

Built in 1990, Casa Fidelio consists of seven strata-titled cluster terraces and is situated on a land area of approximately 17,293 sq ft. The land is zoned for residential use and is designated for two-storey mixed-landed housing, making it a prime redevelopment opportunity.

Located in a landed housing enclave, Casa Fidelio is just a short drive away from various amenities such as East Coast Park, dining and lifestyle options at the Katong and Joo Chiat precincts, …

Two Jiak Kim Street GLS sites attract 10 bidsThe tender for the first private residential site in the upcoming Bayshore precinct closed on March 18, attracting a record eight bids. The 99-year leasehold site, which spans 112,992 square feet and can yield approximately 515 units, is located on Bayshore Road next to the Bayshore MRT Station. According to Justin Quek, CEO of OrangeTee & Tie, the highest bid of $658.89 million was submitted by SingHaiyi-Garnet, a joint venture between SingHaiyi Group and Haiyi Holdings (the Celine and Gordon Tang-controlled entity that holds majority shareholding in SingHaiyi). This bid translates to $1,388 per square foot per plot ratio (psf ppr). Just 0.82% more than the second-highest bid of $653.53 million ($1,377 psf ppr) submitted by Sing Holdings. City Developments’ bid of $620.8 million ($1,308 psf ppr) was the third-highest, which was 5.3% below Sing Holdings’ bid. “The highest prices submitted exceeded …

An internationally renowned hospitality and residential development company, Banyan Group (formerly Banyan Tree Holdings) has recently launched its latest project, the Banyan Tree Beach Residences Oceanus, in the beautiful island of Phuket, Thailand. The stunning development is located in a private enclave within Banyan Group’s flagship Laguna Phuket resort, right by the Bang Tao Beach. With 16 beachfront residences of various sizes ranging from 416 sq m to 768 sq m, including penthouses, Banyan Tree Beach Residences Oceanus is set to become one of the most coveted residential properties in the area.The ground-floor residences boast of private pools extended from their terraces, while the penthouses offer breathtaking views of the Andaman Sea from their spacious living area balconies and rooftop terraces featuring private pools and reflecting ponds. Apart from the luxurious amenities, the residences also feature living areas over 13m wide, double master bedrooms, and opulent bathrooms. Additionally, the development …

Private home sales in February showed no signs of slowing down, as fresh launches continued to drive strong momentum. According to data released by URA on March 17, developers sold 1,575 units last month (excluding executive condos), marking a 45.4% surge from January’s 1,083 units.

On a year-on-year basis, February new home sales were over 10 times higher than the 153 units sold in February 2024. This is also the highest February figure in 13 years, since 2,417 units were sold in February 2012, says Tricia Song, CBRE’s head of research for Singapore and Southeast Asia. Including ECs, new home sales reached 1,604 units, up 45.3% from January.

Developers have now sold a total of 2,658 units (excluding ECs) since the start of the year. In comparison, it took them eight months to reach this figure last year, observes Leonard Tay, head of research at Knight Frank Singapore.

February’s strong …

A collection of twenty historic bungalows in Sembawang has been put up for tender by the Singapore Land Authority (SLA). The properties are open for a five-year lease, with an option to extend for an additional four years.

The two-storey bungalows, which were built in the 1920s and 1930s, are situated along Admiralty Road East, Falkland Road, Auckland Road West, and Fiji Road. Spanning approximately 245,300 square feet in total, the bungalows have an estimated gross floor area of 94,945 square feet.

These bungalows are zoned for serviced apartment use and can also accommodate multi-generational and senior co-living concepts. F&B and retail businesses are also permitted, as long as they do not exceed a GFA of 9,580 square feet. The minimum stay for a serviced apartment is one week.

The evaluation of tender bids will take into account both the price and quality of the proposals. Interested parties can submit …

CapitaLand Integrated Commercial Trust (CICT) has announced changes to its board composition, with Tan Choon Siang appointed as the new CEO and current CEO Tony Tan taking on the role of CCO at CapitaLand Development. These changes were revealed in a bourse filing on March 17.

Effective May 1, 2025, Tan Choon Siang, who currently serves as Deputy CEO, will assume the position of CEO and Executive Non-Independent Director of CICT. He will also become a member of the company’s executive committee (EC).

In light of this, current CEO Tony Tan will step down as an Executive Non-Independent Director and a member of the EC. Instead, he will become the Chief Corporate Officer of CapitaLand Development. Tan has been at the helm of CICT since 2017, when he was appointed as CEO and Executive Director.

Under Tan’s leadership, CICT oversaw the successful merger of CapitaLand Mall Trust and CapitaLand Commercial …

Keppel, a homegrown global asset manager and operator, has announced their plans to focus on other brownfield redevelopment projects after the completion of Keppel South Central, according to Samuel Ng, President of Keppel’s real estate division in Singapore. Ng adds: “The redevelopment of Keppel South Central is our crowning achievement.” He is referring to the former Keppel Towers, a 27-storey office tower completed in 1991, and Keppel Towers 2 (formerly known as GE Tower), a 13-storey building completed in 1993.Keppel has announced the completion of their flagship 33-storey commercial tower, Keppel South Central, last month. Situated along Hoe Chiang Road in Tanjong Pagar, the building boasts about 650,000 square feet of office, retail, and event space. The usual office floor plates range from 20,000 to 22,000 square feet, with a ceiling height of 3.2 meters. Read also: Hotel Clover at Hongkong St on sale for $27 million; Hongkong St commercial …

March 15, 2020Selling at a guide price of $3.65 million, a 99-year leasehold semi-detached house on Kew Heights in District 16 is set to make its auction debut on March 15. The three-storey property occupies a 3,034 sq ft corner plot, boasting a land rate of $1,203 psf.The house, which has a total floor area of 4,436 sq ft, comes with vacant possession. It features a living hall with a double-volume ceiling, an adjoining dining area, a kitchen, a helper’s room, and six bedrooms on the upper two levels. There is also a family area and a storeroom in the house, as well as a car porch and backyard area.According to Mok Sze Sze, managing partner of auctions and sales at SRI, potential buyers may have the opportunity to convert some of the open areas into additional bedrooms, making the property ideal for extended or multi-generational families. She also notes …

over the week of Feb 25 to March 4, a penthouse at The Trizon, a 289-unit condo on Ridgewood Close, was sold for a record profit of $3.2 million. The 5,737 sq ft unit on the 23rd floor fetched $9.76 million ($1,701 psf) whereas it was bought in March 2016 for $6.55 million ($1,142 psf). This resulted in an annualised gain of 4.5% over nine years, making it the most profitable resale transaction at The Trizon to date. The previous record was set in August 2023 when another penthouse unit at The Trizon fetched $11 million ($1,553 psf). The unit had been bought for $7.1 million ($1,002 psf) in November 2019, thus earning the seller a whopping $3.9 million profit (55%), translating to an annualised profit of 12% over close to four years.The Trizon is a popular freehold development in prime District 10, and its prime location near the Mount …