Author: susukinono

Real estate giant City Developments (CDL) has announced that it has successfully divested assets worth more than $600 million in the past year, with several more deals in the works.

This figure falls slightly short of the company’s initial target of $1 billion, which was set in early 2024. CDL attributes this shortfall to a decrease in market activity across various markets and asset classes.

So far, the completed divestments include the Ransome’s Wharf site in London, the Cideco Industrial Complex in Singapore, and various strata units at Citilink Warehouse Complex, Cititech Industrial Building, Fortune Centre and Sunshine Plaza in Singapore.

CDL has also shared that the divestment of the retail and office components of its mixed-use development, Hong Leong City Center (HLCC) in Suzhou, is under contract and is expected to be completed this quarter.

According to group CEO Sherman Kwek, the divestments are part of the company’s efforts …

An opportunity has arisen to acquire a beautiful two-storey bungalow at 11 Whitley Road, now available for sale through a tender process with a guide price of $31.88 million. This stunning property boasts a freehold elevated site of 15,276.27 sq ft, making it a highly desirable investment opportunity. With a guide price of $2,087 psf on the land area, this property is an excellent value for its prime location.

Originally built in 2016, the bungalow has been recently refurbished with the addition of a rear extension. It features five spacious bedrooms, three of which are en suite, as well as two living rooms, two dining rooms, a large well-equipped kitchen, and a helper’s room. This property offers luxurious living with ample space for families of any size.

Additionally, this freehold land parcel has the potential to be subdivided for the development of eight terraced houses. Each site would range from …

GuocoLand, one of Singapore’s leading property developers, has secured two green facilities from DBS Bank and Oversea-Chinese Banking Corporation – a $1.135 billion green facility for refinancing Guoco Midtown and a $105 million green facility for refinancing Midtown Bay.

The $1.135 billion green facility for the refinancing of Guoco Midtown is the largest facility that the company has secured to date. These facilities have been raised under GuocoLand’s Green Finance Framework and bring the total amount of green financing secured by the company to about $5 billion. Other projects that have been financed through green facilities include Guoco Tower, Lentor Mansion, Lentor Modern, Midtown Modern, and the upcoming Upper Thomson Road Development.

According to GuocoLand’s Group CFO, Andrew Chew, this latest refinancing activity not only allows the company to optimize its capital structure, but also aligns with its commitment to creating thoughtfully designed spaces that balance economic, environmental, and social …

Source: https://www.edgeprop.sg/property-news/freehold-mixed-use-roxy-square-relaunch-collective-sale

Freehold mixed-use development Roxy Square in Katong will be relaunched for collective sale, according to a press release by marketing agent JLL. The development consists of 296 shops, 26 apartments, and the 576-room Grand Mercure Roxy Hotel. It was previously launched for tender last July at a minimum price of $1.25 billion, but the tender closed on Sept 26 without any offers.

JLL has announced that the owners of Roxy Square are currently in the process of signing a supplemental agreement to lower the collective sale price by 10.8% to $1.115 billion. This proposed reduction will require at least 80% of the owners’ support to take effect, and it has already received backing from over 70% of the owners.

Under the new price, the development is expected to have a unit land rate of $1,852 psf per plot ratio (ppr), which includes a Land Betterment Charge (LBC) at …

of The Arcady at Boon Keng, which will feature 47 condo facilities spanning 4,000 sq m (Picture: KSH Holdings)

The Arcady at Boon Keng, a 172-unit freehold condominium, is set to become a landmark residence in the heart of the Boon Keng area upon its completion in 2027. Developed by trusted local developers KSH Holdings, SLB Development, and H10 Holdings, in collaboration with award-winning architectural firm Park + Associates, this project is poised to stand out with its modern architecture and dense green space along Serangoon Road.

When it was launched for sale in January, The Arcady at Boon Keng received a positive response from investors and local buyers alike. The efficient layout of the one-bedroom plus study units and two-bedroom units appealed to many, while families were drawn to the spacious units and family-friendly amenities.

For discerning buyers, The Arcady at Boon Keng offers a rare opportunity to invest …

An opportunity to acquire a portfolio of freehold strata retail units at Lucky Plaza is now available for investment at $52.6 million, with Savills Singapore acting as the exclusive marketing agent. Located on the highly coveted Orchard Road, Lucky Plaza is a mixed-use development comprising a residential tower and a six-storey mall with a basement.

The portfolio up for sale consists of 14 retail units, spanning the basement and the first two levels of the mall. These units vary in size from 118 to 3,046 sq ft, making up 7,266 sq ft of strata area in total. According to Savills Singapore, the highlight of this offering is a food court that encompasses seven adjacent strata units, covering a total of 3,046 sq ft and accommodating 11 stalls. The remaining retail units are currently tenanted by a variety of businesses, including a pub, retail shops, beauty services, and a maid agency.…

What you need to know about The Reef at King’s Dock’s four bedroom units —The Government Land Sale (GLS) site at Tengah Gardens Avenue has closed on Jan 14 with three bids. The top bid of $675 million, or $821 psf per plot ratio (ppr), was submitted by a Hong Leong-led consortium, which includes GuocoLand Singapore and CSC Land Group. The 99-year leasehold site measures approximately 273,906 sq ft and has a maximum gross floor area (GFA) of 821,720 sq ft. With the potential to yield up to 860 residential units, the site is zoned ‘Residential with Commercial at 1st storey’.

If awarded, the Hong Leong-led consortium plans to build an 860-unit condo, taking advantage of the improved connectivity brought about by the upcoming Jurong Region Line (JRL) nearby. According to Loke Kee Yeu, general manager (Projects) at Hong Leong Holdings Limited, the JRL will contribute to the development of …

A 15 loft-room hotel in the popular District 14 of Singapore is now available for sale at a competitive price of $14 million. The freehold property, located at 739-1 Geylang Road, boasts a perfect combination of a 2-storey structure and a newly constructed 4-storey rear extension, occupying a 1,273 sq ft site with an approved gross floor area (GFA) of up to 3,186 sq ft.

One of the most appealing aspects of this hotel is its permanent ‘Hotel’ zoning and usage approval, making it a rare and highly sought-after conversion for new conservation shophouses in Singapore. With this approval, the property offers not only long-term investment potential but also flexibility in terms of operations. Additionally, its prime location, just a 5-minute walk from the Paya Lebar MRT station, provides excellent connectivity. Paya Lebar MRT is a dual-line station, serving both the East-West line and Circle line, making it convenient for …

Dear readers, please note that we will not be publishing our daily property news roundup on Thursday, Feb 11, as it will be a public holiday in Singapore.

Real estate consulting firm JLL has chosen James Cameron as their new head of energy and infrastructure for the Asia Pacific region, within their capital markets business line. The newly created position will be based in Singapore according to the press release on Jan 14.

Cameron’s main role will be to establish and lead a team in Asia Pacific, working alongside JLL’s EMEA Energy & Infrastructure business to provide global capital advisory services for local and international developers and investors. This appointment aligns with JLL’s long-term strategy to support the development of infrastructure and renewable energy projects, as part of the push towards decarbonisation, digitalisation, economic growth, and urbanisation.

Stuart Crow, CEO of capital markets for JLL Asia Pacific, believes that there …

An expression of interest (EOI) has been launched for the sale of two adjacent Good Class Bungalows (GCBs) located at 52 and 54 Belmont Road in the prestigious Belmont Park GCB area. The freehold properties, believed to be owned by relatives, cover a combined land area of 41,741 sq ft and have an indicative price of $88.8 million, working out to $2,128 psf on the land area. According to marketing agent Sakal Real Estate Partners, the combined plots boast a 44m frontage along Belmont Road with an average depth of 66m.

“We believe this site would appeal to families looking to build a new home for multi-generational living or extended families living together,” says Sakal’s senior director, Lennon Koh. “Besides homeowners, this property is also suitable for developers seeking to tap into the exclusive GCB market.”

A map showing 52 Belmont Road, shaded in grey, highlights the location of the …