Author: susukinono

On February 22nd, MCL Land and CSC Land Group successfully sold 326 out of 501 units at their joint venture project, Elta, located at Clementi Avenue 1. This translates to a sales rate of about 65%, with an average price of $2,537 per square foot.

The majority of buyers were Singaporeans, making up 90% of the total, while the remaining 10% were permanent residents. Most of the buyers came from districts 19, 5, and 23, with the highest number of buyers coming from districts 19, which primarily includes Hougang, Serangoon, Sengkang, Punggol, and the northeast region.

Among the units sold, the most popular were the two-bedroom units, with 98% of the 179 units sold at prices starting from $1.388 million ($2,261 psf). Additionally, 81% of the 108 three-bedroom units have also been taken up, with prices starting from $2.198 million. The one-bedroom plus study units were also in high demand, …

CapitaLand India Trust (CLINT) has announced its plans to acquire a new office project in Nagawara, Outer Ring Road, Bangalore, for $233.6 million. This will be accomplished through a forward purchase agreement with Maia Estates Offices.

The group believes that the acquisition of this 1.13 million sq ft office project will greatly benefit its unitholders, as it is expected to increase both earnings and distributions. The project is expected to generate a net profit of $7.7 million once it reaches stabilization, and distribution per unit is projected to rise from 6.84 cents to 6.98 cents.

The office project is part of a mixed-use development that includes both office and retail space. As part of the forward purchase agreement, CLINT will fully fund the development of the office project and will receive interest on the funding at a higher rate than its borrowing cost.

For those interested in investing in overseas …

Sim Lian Group will soon open its latest executive condo (EC), called Aurelle of Tampines, for e-application on Feb 22. This 2025 project, featuring 760 units, is strategically located at Tampines Street 62 in Tampines North, making it the first EC to launch in the year.

Situated a mere five-minute walk from the upcoming Tampines North Transport Hub, which will include the Tampines North MRT Station (on the Cross Island Line scheduled to open in 2030), an air-conditioned bus interchange, and the mixed-use development ParkTown, Aurelle of Tampines offers convenient access to various amenities like ParkTown Mall, Community Club, Hawker Centre, and ParkTown Residence – a 1,093-unit development that will also be launched for sale on Feb 22.

Spread across a site area of 301,391 sq ft, the EC project boasts fourteen 14-storey residential blocks and a range of three- to five-bedroom units designed to cater to the needs of …

A successful collective sale deal has been closed in 2025, marking the first transaction of its kind for the year. River Valley Apartments, a freehold condominium located on River Valley Road, has been sold for a total of $56 million. The selling price equates to a land rate of $1,622 psf per plot ratio (psf ppr). This sale is a significant milestone for the strata-titled owners of the development, as they are set to receive minimum proceeds of about $2 million to $2.6 million each, based on the selling price.

According to Knight Frank Singapore, the marketing agent for the sale, the purchaser is a local family office with plans to redevelop the site into serviced apartments. The Urban Redevelopment Authority (URA) has already granted an Outline Permission for the development of serviced apartments.

“This marks the first collective sale site sold in 2025, in a challenging collective sale market, …

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8M Residences has once again made headlines as the top private condo to achieve a new psf-price peak for the week of Feb 1 to 7. The freehold development reached an impressive high of $2,384 psf when a 15th-floor, two-bedroom unit was sold for $1.54 million on Feb 3. This marks the first time a unit at 8M Residences has exceeded the $2,300 psf mark.

The record-breaking sale beats the previous peak of $2,261 psf set in April 2023, when a similar two-bedroom unit on the 11th floor was sold for $1.46 million. In fact, 8M Residences recorded another sale during the same period that exceeded the April 2023 record. On Feb 3, a one-bedroom unit on the 11th floor was transacted for $1.2 million ($2,275 psf).

But that’s not all – in terms of absolute price, the most expensive unit sold at 8M Residences was a 1,841 sq …

Seller racks up $1.87 mil profit at Rochelle at NewtonSeller inks $1.12 mil profit at Leedon Residence© Singapore Press Holdings Ltd. Image Sript

Nassim 9, a luxury development, saw the most profitable private non-landed resale transaction during the period of Feb 4 to Feb 7. The 2,486 sq ft, four-bedroom unit on the third floor was sold for $7.5 million, or $3,016 psf, on Feb 7. According to URA caveats, the seller purchased the unit for $4.12 million ($1,641 psf) in December 2005. This translates to a profit of $3.42 million, or 83.8% of their original purchase price. The annualised gain is 3.2% over 19 years.

The transaction at Nassim 9 is the third-most profitable resale transaction to date. The current record was set in March 2023 when a larger four-bedroom unit spanning 2,756 sq ft was sold for $9.5 million ($3,448 psf). It was bought for $4.12 million ($1,495 …

Heeton Holdings Limited has recently announced its financial results for the second half of FY2024, reporting a significant 221% year-on-year increase in earnings, amounting to $3.85 million for the period ending on December 31, 2024. However, for the full fiscal year, the group remains unprofitable.

The earnings per share for the second half of FY2024 stood at 0.79 cents per ordinary share, while for the entire fiscal year, it was a negative 0.28 cents per share.

The revenue for the second half of FY2024 recorded a 10.5% year-on-year growth, reaching $41.1 million. Similarly, for the full fiscal year, it saw a 15.2% year-on-year increase, totalling $78.2 million.

The company attributed this growth in revenue to its rental income from investment properties, hotel operation income, and management fees. The increase in revenue for the year ended December 31, 2024, was primarily due to higher occupancies in the United Kingdom and an …

Singaporean entrepreneur and property developer, Que Neo, is passionate about creating residential projects in areas where he would love to live. His latest venture, K Suites, developed by his company’s subsidiary, EG Properties, is a 19-unit apartment complex located at Lorong K Telok Kurau in the highly coveted District 15 of the East Coast.

Located in a prime location, K Suites boasts of easy access to amenities such as the beach, East Coast Park, shopping centers, the bustling Central Business District (CBD), and Changi Airport. Neo proudly shares, “With the East Coast Parkway and Pan-Island Expressway, it takes just 10 minutes to reach the airport and another 10 minutes to downtown.”

The main draw of K Suites is its strategic location, offering convenience and access to various transportation options. With the nearest bus stop less than 50 meters away, residents can easily get to two nearby MRT stations, Marine Parade …

Landlords to expect flat rental growth in 2025, according to Savills SingaporeAccording to Savills Singapore’s market report, private housing rents have recorded a modest rebound in 4Q2024, inching up 0.2% q-o-q in the last three months of the year. However, landlords should expect rental growth to be flat this year due to the relatively poor performance of the non-landed private residential market in the first three quarters of 2024. This has resulted in rents falling by 1.7% over the whole of 2024, marking the first full-year decline since 2020. The decrease in leasing activity last quarter, with a 24.2% q-o-q drop in transactions, is largely due to a decrease in net new rental demand as well as a year-end seasonal lull in rental activity. Despite this, there is still some growth in rental demand and rents in the private residential market have stabilised. This is especially evident in suburban areas, …

CBRE, a leading real estate services company, is the appointed exclusive marketing agent for the 27-room Hotel Clover located at 7 Hongkong Street and the commercial building at 36 Hongkong Street. The boutique hotel is being offered for sale at a guide price of $27 million, while the commercial building has a guide price of $22.6 million.

Sitting on a prime 1,701 sq ft plot, the six-storey Hotel Clover boasts 27 well-appointed rooms and is zoned as a “hotel” property with a 4.2 plot ratio under the latest Master Plan. With a remaining leasehold of approximately 89 years, this 99-year leasehold property is a valuable investment opportunity. The hotel’s total floor area spans 7,142 sq ft, translating to a price of $3,780 psf on the floor area.

Similarly, the five-storey commercial building at 36 Hongkong Street sits on a 1,733 sq ft plot and is zoned as a “commercial” property …