Hoi Hup Realty and Sunway Developments successfully sold off 137 units at Novo Place executive condominium (EC) during the second round of balloting on Dec 16. This phase was exclusive to second-timers, which refers to buyers who have previously bought a subsidized flat, whether it be a new or resale HDB flat or an EC.

According to Mark Yip, CEO of Huttons Asia, a total of 444 units have been sold at Novo Place, making up 88.1% of the development. This was achieved within a month of its launch on Nov 16, making it the top-selling EC project of 2024.

Yip notes that this success is a result of strong interest from second-timers who are looking to upgrade their living standards. He also mentions that the majority of buyers are residents of the West.

Novo Place, situated at Plantation Close in the new Tengah town, is only a five-minute walk …

In November, developers in Singapore sold 2,557 new private homes, excluding executive condominiums (ECs), according to data released by the Urban Redevelopment Authority (URA) on December 16. This represents a staggering 246.5% increase from the 738 new private homes sold in October and a 226% jump from units sold in November 2023.

According to Christine Sun, chief researcher and strategist at OrangeTee Group, this surge is the highest monthly developer sales seen since March 2013, when 2,793 units were sold (excluding ECs). Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc (SRI), adds that this is the first time new home sales have exceeded the 2,000-unit mark in a single month since March 2013.

The surge in November’s sales can be attributed to an “unprecedented” number of project launches, says Lee Sze Teck, senior director of data analytics at Huttons Asia. Five private residential projects were launched …

One of the leading global hospitality companies, Hilton, has recently opened its 100th Hilton Garden Inn in the Greater China region. The new property, Hilton Garden Inn Beihai Jiafu, is situated in the vibrant seaport city of Beihai in China. The 199-room hotel is conveniently located only 2km away from the Beihai High-Speed Railway Station and 6km from Beihai Fucheng Airport, making it easily accessible for travelers. In addition, it is just a short 20-minute drive to Beihai International Passenger Port.

Qian Jin, the President of Hilton Greater China and Mongolia, expressed his excitement about the opening of the Hilton Garden Inn Beihai Jiafu, stating that it not only showcases the brand’s growth in the Chinese market, but also reflects their long-term commitment to the country. This sentiment was shared in a press release on December 13th.

Hilton’s first Hilton Garden Inn property in China was opened in Shenzhen in …

CapitaLand Investment Limited (CLI) is expanding its presence in Australia through the acquisition of Wingate Group Holdings, which includes the property and corporate credit investment management business, for A$200 million ($173 million), with an additional earn-out. This acquisition will add A$2.5 billion to CLI’s funds under management (FUM) in Australia, increasing its total FUM in the country by 30% to $8.3 billion. This will account for 7% of CLI’s total FUM of $115 billion. CLI has set a target to reach $200 billion in FUM by 2028 and has committed to investing up to A$1 billion in growing its FUM in Australia. This move comes 10 years after the previous board and management divested its key assets in Australia to focus on the then faster-growing China and other overseas markets.

Following its recent investor day, CLI announced the acquisition of Wingate, confirming earlier reports by the Australian media in November. …

Thanks to its prime location and unique architectural heritage, a row of four freehold conservation shophouses at 762, 764, 766 and 768 North Bridge Road has been put up for sale through an expression of interest (EOI). The properties, which are being marketed exclusively by Isabel Sim, associate senior marketing director at Huttons Asia, have a guide price of $37 million and sit on two plots of land totaling 5,766 square feet. This equates to an average land rate of $6,417 per square foot.

The first plot consists of 762 and 764 North Bridge Road, which share a 2,891 square foot plot of land with a built-up area of 4,917 square feet, including a mezzanine level. The second plot includes 766 and 768 North Bridge Road, which sit on an adjacent plot spanning 2,875 square feet with a built-up area of 4,657 square feet, also including a mezzanine level.

According …

Hill House, Grange 1866, The CosmopolitanOct 28, Nov 11, Nov 25 & 27, Nov 27, Nov 22, Nov 25 2011. Grange 1866, Hill House and The Cosmopolitan were the top three condos that recorded new psf-price highs in the week of Nov 22 to 29.Grange 1866, a freehold development located on Grange Road in prime District 10, topped the list with a new price peak of $3,393 psf from the sale of an 818 sq ft, two-bedroom unit for $2.78 million on Nov 27. The 14th-floor unit surpassed the project’s previous record of $3,390 psf set in June last year when a 764 sq ft unit sold for $2.59 million.The boutique condo, Hill House, took the second spot with a new psf-price high of $3,378 psf from the sale of a 452 sq ft, two-bedroom unit for $1.53 million on Nov 25. The sale surpassed the project’s previous record of …

After two years of consecutive losses, the global real estate market saw a positive turn in the second quarter of 2024, indicating a potential recovery on the horizon. This shift comes after a period of high interest rates that drove real estate values to soar, with global total returns reaching 5.0% quarter-over-quarter in the fourth quarter of 2021 and 17.8% year-over-year in the first quarter of 2022. However, as interest rates tightened, these gains were erased and values worldwide returned to 2018 levels. As we believe that the correction in the real estate market is nearing completion, now is a favorable time for investors to reexamine this asset class. Real estate has historically offered stable income returns and diversification benefits in the long run, and has the potential to deliver strong returns during recovery periods. For instance, following the recession in the early 1990s, investors saw a cumulative return of …

An apartment at Island View, a freehold condominium located in Pasir Panjang, has recently been sold for the most profitable price in the week of November 26 to December 3. The spacious 3,498 square feet unit was purchased for $4.8 million, at a rate of $1,372 per square foot on November 27. The seller bought the property back in September 2005 for $1.3 million, which translates to $372 per square foot. After holding onto the unit for almost 19 years, the seller has made a significant gain of $3.5 million from the transaction. This represents a capital gain of 269% or an annualised profit of 14.2%.

The sale of this unit on November 27 has set a new record for the most profitable deal at Island View, surpassing the previous record of $3.19 million profit from the sale of another 3,498 square feet unit at the condo for $5.09 million, …

Cove, a flexible living platform established in Singapore, has welcomed real estate and hotel expert Ashish Manchharam as a new member of their board of directors.Manchharam, who founded and managed the company 8M Real Estate for over a decade, now serves as a director at Cove. With his strong background in real estate and hospitality, he aims to assist the company in expanding its reach and boosting its growth potential.In 2023, Manchharam decided to step down from 8M Real Estate, which had achieved a remarkable portfolio worth $1.5 billion. Not long after, he established his own company, Elevate Capital, which specializes in lifestyle-driven real estate investments.Using his extensive experience and expertise, Manchharam will provide advisory support to Cove in the acquisition of flexible living assets in collaboration with third-party investors such as real estate funds, institutional investors, and family offices. This move is in line with Cove’s strategy to speed …

William Liem, the CEO of real estate firm Tuan Sing Holdings, has once again increased his ownership in the company. On December 5th, Liem acquired 545,300 shares from the open market through his entity Nuri Holdings (S) for a total of $136,325 at 25 cents per share. The next day, Nuri Holdings bought another 1.2 million shares for $311,288.50 at approximately 25.9 cents per share.

This latest move brings Nuri Holdings’ stake in Tuan Sing to 672.7 million shares, equivalent to 54.09% of the company. Prior to the recent purchases, Nuri Holdings had also acquired shares on September 10th and 11th, paying an average price of between 25 and 25.5 cents per share.

As of June 30th, Tuan Sing’s net asset value per share was 97.8 cents, a slight decrease from 99 cents as of December 31st, 2023. In related news, Tuan Sing recently acquired several assets from PT Senimba …