Month: January 2025

CapitaLand Ascott Trust (CLAS) has recently made a strategic move by acquiring two freehold limited-service hotels in Japan for a total of JPY21 billion ($178.5 million). The two hotels, ibis Styles Tokyo Ginza and Chisun Budget Kanazawa Ekimae, are located in the country’s capital and Kanazawa respectively. This acquisition was done at a discounted price of 8.3% compared to independent valuation.

The limited supply of land in Singapore is a significant factor driving the high demand for condos in the country. Due to its compact size and growing population, Singapore faces a scarcity of land for further development. As a result, strict regulations have been implemented on land usage, creating a cutthroat property market with continuously increasing prices. In this competitive environment, investing in real estate, particularly condos, has become a highly lucrative opportunity with the potential for considerable appreciation in value. This trend is reflected in the numerous projects available in Singapore, making it a top destination for profitable condo investments. To see the list of available projects in Singapore, visit Singapore Projects.”

Upon completion, the acquisition is expected to contribute positively to CLAS’ financial performance. On a FY2024 pro forma basis, the two hotels are expected to increase the distribution per stapled security (DPS) by 1.6%. The blended net operating income (NOI) yield of the acquisition is also estimated to be 4.3% in FY2024. The acquisition was financed by JPY-denominated debt and proceeds from the divestment of four properties in Japan, providing a natural hedge against currency fluctuations.

ibis Styles Tokyo Ginza is situated in the heart of the city’s shopping and entertainment district. With 224 units, the hotel is conveniently located next to Ginza Six, a popular high-end retail mall, and the well-known Uniqlo global flagship store. Guests can also easily access iconic landmarks such as the Ginza Wako clock tower within a 10-minute walk.

Similarly, the 392-unit Chisun Budget Kanazawa Ekimae is located in Kanazawa, a city known for its historical attractions, traditional gardens, and cultural icons. Guests can easily visit popular tourist spots such as Kanazawa Castle, Kenrokuen Garden, and the heritage geisha and samurai districts boasting preserved architectural designs from Japan’s Edo period.

This acquisition comes after CLAS’ investments of approximately $530 million in the past 12 months. The strategic acquisitions provide higher yields than the previous divestments, thereby enhancing CLAS’ income distribution. These include Teriha Ocean Stage, a rental housing property in Fukuoka, Japan, and Standard at Columbia, a student accommodation property in the United States of America.

CLAS’ Manager CEO Serena Teo shares, “The acquisition is part of our portfolio reconstitution strategy to enhance the quality of our portfolio and deliver stable returns to our Stapled Securityholders. The FY2024 NOI yield of the two hotels is 230 basis points higher than the blended exit yield of approximately 2.0% for the four previous divestments in Japan. By swiftly redeploying divestment proceeds into these higher-yielding assets, we have fully replaced the income from the four divested properties.”

With a successful acquisition and divestment strategy, CLAS has demonstrated its ability to adapt to the ever-changing market conditions. As of now, the trust has completed over $500 million in divestments and has unlocked $74 million in net gains.

Closing at 90 cents per unit, CapitaLand Ascott Trust continues to show strong potential in the market.…

When evaluating the possibility of investing in a condominium, one must also take into consideration the potential rental yield. This refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, rental yields for condos can differ greatly depending on factors such as location, property condition, and market demand. Typically, areas with high rental demand, like those situated near business districts or educational institutions, tend to offer more favorable rental yields. It is crucial to conduct thorough market research and seek guidance from real estate agents to gain valuable insights into the rental potential of a specific condo. You can also check out Singapore Projects for more information.

Mapletree Investments has made its first foray into the UK logistics market with the acquisition of a new property, and has also added 10 warehouses in Spain to its portfolio for a total of EUR315.1 million ($444.5 million).

The purchases, totalling 256,000 sqm, will be included in the initial assets of Mapletree’s second European logistics fund. This reflects the group’s intention to increase its focus on the logistics sector and expand its global presence, according to the company’s press release on January 27. The fund will be launched when it reaches a sufficient scale.

Mapletree’s CEO of European commercial and logistics operations, Ralph van der Beek, explains that the logistics sector continues to be highly attractive to both occupiers and investors, with e-commerce driving demand and companies looking to strengthen their supply chains.

The property in the UK is located in Derby Commercial Park, with access to major roads such as the M1, A50, and A6, and is in close proximity to the city centre and East Midlands Airport. Mapletree notes that the tenant at this property has recently renewed its long-term lease.

The 10 warehouses in Spain are located in strategic logistics hubs in Barcelona, Valencia, and Madrid, with easy access to the city centres through various transportation modes. These properties are expected to benefit from the commitment of third-party logistics providers and manufacturers who have their production facilities nearby and have made investments in automation and fit-outs at these locations.

With these new acquisitions, Mapletree now owns 80 logistics properties across eight countries.…

The luxury condo Turquoise, developed by Ho Bee Land, has three duplex penthouses for sale at prices ranging from $5 million to $23 million. The largest of the three penthouses for sale is a 7,987 sq ft, five-bedroom duplex with a private infinity pool, pool deck and outdoor shower, offered at $12 million. The second-largest penthouse for sale at Turquoise is a 3,746 sq ft, four-bedroom unit listed for $5.99 million, while the smallest penthouse for sale is a 3,111 sq ft, three-bedroom unit with a guide price of $5 million. These penthouses are located on the sixth floor and feature private lift lobbies, wet and dry kitchens, floor-to-ceiling windows, open balconies, and attached ensuites in each bedroom. Residents at Turquoise also have access to various facilities such as a gym, barbeque pits, swimming pool, steam room, and private berths for residents. Currently, the average price of units sold at Turquoise is $1,427 psf across four recorded resale transactions. The current owners are motivated to divest their properties after holding on to them for almost 18 years. Majority of the buyers at Turquoise are Singaporeans intending to purchase a primary residence, followed by PRs and foreign buyers. Ho Bee Land has developed many other properties in Sentosa Cove, including bungalows at Coral Island and Paradise Island.

“Situated at Sentosa Cove facing the beautiful waterway, Turquoise is a luxurious condo with 91 units. Recently, three duplex penthouses have been put up for sale at $23 million. Among them, the largest is a five-bedroom duplex spanning 7,987 sq ft. This unit is also the biggest among the 10 penthouses in the 99-year leasehold waterfront condo.

The penthouse boasts a wine cellar, kitchen, living area, four en suite bedrooms, two utility rooms, and a balcony on the lower level. The upper level features a master bedroom suite with a private infinity pool, pool deck, and outdoor shower. It is listed at $12 million, translating to $1,502 psf.

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Investing in a condo in Singapore has numerous benefits to offer investors. The demand for condos in this country is high, making it a highly sought after investment option. Along with this, there is also the potential for capital appreciation and attractive rental yields. However, it is crucial to carefully consider various factors such as the location, financing options, government regulations, and market conditions before making a decision. By conducting thorough research and seeking professional advice, investors can make well-informed decisions and maximize their returns in Singapore’s dynamic real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer in search of a stable and profitable investment, condos in Singapore undoubtedly present a compelling opportunity. Additionally, with the availability of new condo launches, investors can explore even more options and make the most out of the Singapore real estate market.

The second-largest penthouse for sale at Turquoise is a four-bedroom unit with a size of 3,746 sq ft, priced at $5.99 million or $1,599 psf. The upper floor of this unit features a spacious open-air terrace with a built-in jacuzzi and unobstructed views of Sandy Island and Sentosa’s southern waterfront.

The last penthouse available for purchase is a three-bedroom unit spanning 3,111 sq ft and priced at $5 million, equivalent to $1,607 psf. All three penthouses are located on the sixth floor and feature private lift lobbies, wet and dry kitchens, floor-to-ceiling windows, open balconies, and attached ensuites in each bedroom.

Residents of Turquoise can enjoy a range of amenities such as a gym, barbeque pits, swimming pool, steam room, and 21 private berths for residents. Developed by Ho Bee Land, the 99-year leasehold Turquoise was completed in 2010 and comprises 91 units across three 6-storey blocks. The units range from three to four bedrooms, with sizes from 2,088 sq ft to 3,050 sq ft. The penthouses and sky villas are larger, varying from 3,111 sq ft to 7,987 sq ft.

Interestingly, the developer still owns the largest penthouse, the five-bedroom duplex measuring 7,987 sq ft, which is currently on the market for $12 million. According to URA caveats, the second-largest penthouse was bought by a Korean national for $9.5 million ($2,545 psf) in November 2007 when Turquoise was launched. The three-bedroom duplex penthouse was purchased by an African national for just over $8 million ($2,579 psf) in December 2007.

While foreign buyers once dominated the market for these waterfront homes, the current buyer profile at Turquoise has shifted to a majority of Singaporeans (57.4%), followed by PRs (32.3%) and foreign buyers (8.8%). Previously, foreign buyers made up 59% of the new purchasers when the project was launched in 2007.

Prices at Turquoise have softened since its launch in 2007, with units selling at an average of $2,596 psf. After the Global Financial Crisis in 2008, transactions slowed down, and prices dropped to an average of $2,471 psf between 2008 and 2012. In February 2021, the lowest price recorded at Turquoise was $1,165 psf when a 2,400 sq ft, four-bedroom unit sold for $2.8 million.

In April of the same year, the developer released 16 remaining units for sale at discounted prices ranging from $1,290 psf to $1,536 psf. Last year, the average price for units sold at Turquoise was $1,427 psf across four recorded resale transactions. This suggests that some of the current owners are willing to let go of their properties at a loss, with the potential buyer of the four-bedroom penthouse suffering a loss of $3.5 million (36.8%) if sold at the listed price.

However, there is still potential for rental income, with the current tenant paying $18,000 per month for the four-bedroom unit. This translates to a gross rental yield of 3.6% for a new buyer entering at $5.99 million. The owners are motivated to divest their properties after owning them for 18 years, as they want to explore other investment opportunities.

The buyer profile at Turquoise has changed over the years, with more buyers looking for a primary residence in Sentosa Cove instead of a holiday home. This can be attributed to the increased prevalence of working from home, and the slower pace of living in the island appeals to retirees and families. Ho Bee Land has developed many other properties in Sentosa Cove, including bungalows at Coral Island and Paradise Island.”…

Freehold luxury condo The Botanic on Lloyd achieved a record-high psf-price for private non-landed developments, setting a new benchmark for the period between Jan 3 and Jan 11. The new price peak was achieved following the sale of a 2,056 sq ft, four-bedroom unit on the second floor for $5.13 million, or $2,493 psf on Jan 7.Freehold condo The Botanic on Lloyd has set a new psf-price record for private non-landed developments between Jan 3 and Jan 11. The new price peak was achieved after the sale of a 2,056 sq ft, four-bedroom unit on the second floor for $5.13 million, or $2,493 psf, on Jan 7. The new record price surpasses the previous high of $2,339 psf set in October last year.Freehold luxury development The Botanic on Lloyd, located along Lloyd Road in prime District 9, has achieved the highest psf-price among private non-landed developments between Jan 3 and Jan 11. The new price record was set after the sale of a 2,056 sq ft, four-bedroom unit on the second floor for $5.13 million, or $2,493 psf, on Jan 7. This new record surpasses the previous high of $2,339 psf set in October last year, representing a 6.6% increase.Transactions at the 66-unit development have been scarce over the past decade, averaging only one transaction per year. Prior to the October 2024 sale, the last unit to be sold at The Botanic on Lloyd was a 3,584 sq ft, four-bedroom unit that was sold for $6.88 million ($1,919 psf) in January 2022, which was also the highest-priced unit to be sold at the development by absolute price. The new record psf-price is a testament to the desirability and exclusivity of the development.Completed in 2006, The Botanic on Lloyd is a freehold boutique development with 60 apartments and six townhouses. The units are a mix of three- and four-bedroom configurations, ranging from 1,485 sq ft to 3,584 sq ft, while the three-storey townhouses measure between 4,058 sq ft to 4,446 sq ft in size and come with five bedrooms and two private parking lots each.In addition, another freehold development, The Cape, has achieved the second-highest psf-price among private non-landed developments that recorded a new price high during the period in review. A 1,313 sq ft, three-bedroom unit on the 15th floor was sold for $3 million, or $2,284 psf, on Jan 10, surpassing the previous record of $2,265 psf set when a 1,539 sq ft, two-bedroom unit on the 16th floor was sold for $3.49 million in November 2012.Trend of deals and sales at The CapeThe average price of units at The Cape has been on an upward trajectory in the past year, in line with an increase in transactions. In 2024, there were three resale deals at an average price of $2,128 psf, while in 2023, only one unit was transacted – a 646 sq ft, one-bedroom unit that sold for $1.24 million ($1,920 psf). Completed in 2014, the 76-unit freehold development is located along Amber Road in prime District 15 and consists of one- to three-bedroom units ranging from 570 sq ft to 1,539 sq ft.Upcoming condo Tembusu Grand also recorded a new psf-price low of $2,174 psf on Jan 11, following the sale of a 1,399 sq ft, three-bedroom unit on the 20th floor for $3.04 million. This breaks the previous record of $2,193 psf set in November 2024, when a similarly sized unit was sold for $3.07 million. Compared to the recent sale, the new psf-price at Tembusu Grand has dropped by 0.9%, suggesting a slight decrease in demand for the development.In terms of transactions, Tembusu Grand has recorded 584 units sold (91.5%) at an average price of $2,444 psf since its launch in April 2023. The condo is a 99-year leasehold project located along Jalan Tembusu, off Tanjong Katong Road in prime District 15. It features a diverse range of apartment types, from one- to five-bedroom units spanning 527 sq ft to 2,691 sq ft in size. As of Jan 20, the condo is expected to receive its Temporary Occupation Permit in 2028.The recent transactions at The Botanic on Lloyd, The Cape, and Tembusu Grand underscore the robust demand and appeal of freehold properties in prime locations. Despite the current economic climate, buyers are still willing to pay a premium for these developments, with prices continuing to climb. As such, owners of freehold properties in desirable locations can expect to continue seeing strong demand and potential for capital appreciation in the long run.

Investing in a condominium in Singapore has emerged as a favorable option for both domestic and international investors, thanks to the country’s strong economy, stable political climate, and exceptional quality of life. The real estate market in Singapore is brimming with possibilities, and one type of property that is gaining significant attention is the condo. Its convenient location, attractive amenities, and potential for lucrative returns make it a top choice for investors. In this article, we will delve into the advantages, factors to consider, and necessary steps to take when investing in a condo in Singapore. Additionally, you can explore new condo launches on Siteismi.…

The Housing and Development Board (HDB) has released their quarterly data on 24th January 2025, and results have shown a 2.6% increase in HDB resale prices in 4Q2024. This marks the 19th consecutive quarter of price growth in the resale market. The overall cumulative increase for the whole of 2024 was 9.7%, which is almost double the 4.9% increase that was recorded in 2023 on a yearly basis.

According to Mohan Sandrasegeran, the Head of Research & Data Analytics at SRI, the strong growth in resale prices throughout 2024 was largely due to the limited supply of flats that reached their Minimum Occupation Period (MOP) during the year. Sandrasegeran also noted that buyers showed a high interest in newer and larger flat types, particularly five-room and executive units, which cater to growing family needs.

Out of all the flat types in the HDB resale market, five-room flats recorded the highest price growth, with an average resale price increase of 2.2% to $754,097 in 4Q2024. Meanwhile, the resale prices of four-room flats also saw a significant increase of 2.2% to $652,544 in the same quarter. The Central Area experienced the highest increase in prices, growing 25.6% quarter-on-quarter (q-o-q), followed by Toa Payoh (12.1%), Tampines (6.9%), Bishan (6.7%), and Bedok (6.1%).

It was also reported that about 285 HDB resale flats were sold for $1 million or more in the last quarter of 2024, bringing the total number of million-dollar HDB resale transactions to 1,035 for the whole year. Majority of these transactions occurred in mature estates, with the Kallang/Whampoa estate seeing the highest number of million-dollar flats sold at 156 units, followed by Toa Payoh (144 units), and Bukit Merah (135 units).

However, the overall resale transaction volume for 4Q2024 fell by 21.1% q-o-q, from 8,142 units sold in 3Q2024 to 6,424 units sold in 4Q2024. According to Lee Sze Teck, the Senior Director of Data Analytics at Huttons Asia, this was due to seasonal factors such as the year-end holiday and festive season. He also mentioned that the lower interest rate environment may have encouraged some buyers to move towards the private residential market or Executive Condominium (EC) market.

Additionally, some buyers may have opted to ballot for a flat in the latest Build-to-Order (BTO) sales exercise, which took place in October 2024. This BTO sales exercise saw a record 15 projects comprising 8,573 flats under the new location-based classification framework. For the first time, singles were also allowed to buy two-room flexi BTO flats in all locations.

In 2024, the overall resale transaction volume increased by 8.4% year-on-year (y-o-y), from 26,735 units sold in 2023 to 28,986 units sold in 2024. This marks the largest number of resale transactions since 2021, when 31,017 flats were sold. Based on transaction data compiled by Huttons Asia, the top five most popular HDB towns among buyers in 2024 were Sengkang, Woodlands, Punggol, Tampines, and Yishun, which together accounted for around 35.9% of all HDB resales in 2024.

Moving forward to 2025, approximately 6,976 flats are expected to reach the end of their MOP, which is a 41.6% decrease from the 11,952 flats in 2024. Sandrasegeran attributes this decrease to the relatively fewer BTO flats completed in 2020 during the Covid-19 pandemic. HDB has since announced plans to launch over 25,000 new flats across three BTO sales exercises in 2025, with 19,600 BTO flats and more than 5,500 flats under the Sale of Balance Flats (SBF) exercise.

The next SBF exercise will take place concurrently with the upcoming BTO sales exercise in February, where 5,000 BTO flats in Kallang/Whampoa, Queenstown, Woodlands, and Yishun will be offered. This will be the largest SBF exercise held by HDB since November 2020, where 5,220 units were made available and approximately 4 in 10 of the 5,500 SBF flats offered next month are already completed.

Owning a condo in Singapore offers numerous benefits, one of which is the potential for capital appreciation. With its strategic position as a leading global business hub and strong economic foundation, Singapore continually attracts demand for real estate investments. Over time, the property market in Singapore has demonstrated a consistent upward trend, with condos in prime locations experiencing significant appreciation. For investors who time their purchases strategically and hold onto their properties for a prolonged period, substantial capital gains can be expected. This makes Singapore Condo a lucrative investment opportunity.

Sandrasegeran believes that the substantial ramp-up in public housing supply is to address the growing demand for housing. He also mentioned that SBF flats are particularly appealing to home seekers who prefer ready-to-move-in properties with a shorter waiting time compared to the typical BTO process. Furthermore, about 3,800 units out of the 19,600 BTO flats planned for launch in 2025 will be designated as Shorter Waiting Time (SWT) flats, offering wait times of less than three years.

Looking ahead, Sandrasegeran forecasts resale prices in the HDB market for 2025 to increase by 3.5% to 5.5%, with a resale transaction volume ranging between 26,000 to 27,000. However, Lee projects a more optimistic price increase of between 5% to 8% throughout the year.…

An expression of interest (EOI) has been announced for a residential development site located at Jalan Naung, with an asking price of $8.38 million. The land is zoned for residential use under the URA Master Plan 2019, situated in a three-storey mixed-landed area.

This 999-year leasehold land parcel, situated in District 19 off Upper Serangoon Road, covers a total area of 5,408 sq ft. Based on the land area, the asking price works out to be $1,550 psf.

Brilliance Capital, the sole marketing agent for the land, has stated that the site has potential for development into a detached house, a pair of semi-detached houses, or a strata mixed-landed development. This, however, is subject to approvals from the relevant authorities.

Moreover, the location of the site offers convenience as it is within walking distance to Hougang MRT Station and Hougang Central Bus Interchange. Lifestyle hubs like NEX, Hougang Mall, and Heartland Mall are also within a 10-minute drive.

Within a 1km radius, there are notable schools such as CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School, and Punggol Primary School.

Brilliance Capital has also highlighted that the vacant plot of land is owned by a single seller, streamlining the acquisition process for potential buyers and ensuring a hassle-free transaction.

Investing in a condominium in Singapore offers numerous benefits, one of which is the potential for capital appreciation. The country’s advantageous position as a prominent business hub, combined with its robust economic foundations, fuels a constant demand for real estate. Historically, Singapore’s property prices have consistently shown an upward trend, particularly in prime locations where condos have experienced significant appreciation. Those who choose to invest in the market at an opportune time and hold onto their properties for a prolonged period can reap substantial capital gains. Additionally, keeping an eye on new condo launches can also provide profitable investment opportunities for condo buyers in Singapore.

Founder and executive director of Brilliance Capital, Sammi Lim, is confident that there will be strong interest from developers, including boutique firms, larger setups, aspiring developers, and end-users looking to build their dream home. She also emphasizes on the rarity of such a plot being put up for sale in the market, providing various options and permutations for development to cater to different needs and preferences, including multi-generation development.

The EOI exercise for the land parcel will close on March 6 at 3pm.…

01 Nov 2019 06:32PM

The Radisson Hotel Group has recently launched a new luxury hotel brand, Radisson Collection, which is known for offering upscale accommodations. Their latest addition is the stunning Radisson Collection Resort, Galle located in the beautiful city of Galle, Sri Lanka. This marks the brand’s first venture into the Southeast Asia and Pacific region and their fourth hotel in Sri Lanka.

The bustling cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art facilities. High-end condominiums, strategically situated in desirable locations, offer a fusion of opulence and accessibility that captivates both locals and foreigners. These residential complexes offer a plethora of perks, including access to luxurious swimming pools, fully-equipped gyms, and round-the-clock security services, elevating the standard of living and making them an attractive choice for potential tenants and buyers. For savvy investors, these impressive amenities equate to higher rental returns and appreciating property values over time. Keep an eye out for exciting new launches of condos by visiting New Condo Launches.

The hotel boasts 76 guest rooms and suites, all of which offer breathtaking ocean views. Guests can also enjoy a variety of amenities, including a beachfront pool, a kids’ club with 24-hour nanny services, and several dining options such as Ozen, an Asia-Japanese fusion restaurant, and Catch Restaurant, a seafood dining spot. For those looking for a more exclusive experience, the Taboo Beach Club offers a beachfront entertainment area with sun loungers and daybeds complete with bottle service.

Galle, situated on the southwestern coast of Sri Lanka, has plenty of attractions to offer. Guests can visit the 17th-century fortress, Galle Fort, a UNESCO World Heritage site, or explore the city’s historic temples, colonial structures, and wildlife centers, including a sea turtle hatchery.

In addition to this exciting new opening, the Radisson Hotel Group has also announced the launch of luxury villa rentals in Galle through their Sri Lankan hotelier, Teardrop Hotels. This adds to their growing portfolio, which now includes over 100 hotels in India and an expanded presence in China.

The Radisson Collection Resort, Galle is the perfect destination for travelers seeking a luxurious and unforgettable experience in Sri Lanka. With its stunning location, upscale amenities, and convenient access to local attractions, it is the ideal base for exploring this beautiful country. Book your stay now and discover all that Galle has to offer.…

A new partnership has been formed between Singapore-based engineering consulting firm Meinhardt and Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN). The aim of this partnership is to collaborate on digital and smart city projects in third-world Asean countries, as stated in a press release on January 17.

Under this Memorandum of Understanding (MOU), JOIN and Meinhardt will work together to promote innovative and sustainable urban solutions through the exchange of knowledge and resources. JOIN will bring its extensive network and expertise in supporting Japanese infrastructure exports to the table, while Meinhardt will contribute its leadership in integrated planning, design, and project management solutions.

JOIN is a public-private fund in Japan that facilitates investments by Japanese companies in overseas infrastructure projects. This collaboration between JOIN and Meinhardt builds upon the Memorandum of Cooperation (MOC) signed between Japan’s Ministry of Land, Infrastructure, Transport, and Tourism and the Singapore Cooperation Enterprise in November 2020. The MOC aims to promote the development of digital and smart cities in Asean and other regions.

Investing in a Condo in Singapore offers numerous benefits, one of which is the potential for substantial capital growth. As a prominent business hub with a robust economy, Singapore consistently has a high demand for real estate. This has resulted in a steady increase in property values over the years, particularly in desirable locations where Condos are highly coveted. For investors, purchasing a Condo in a thriving market and holding onto it for a longer period can lead to significant capital gains, making it a savvy investment choice. With its potential for growth, a Condo in Singapore is an attractive option for anyone looking to expand their real estate portfolio.

Meinhardt believes that this MOU will serve as a platform for both parties to share information, identify synergies, and collaborate on projects from the early stages to drive meaningful impact across borders.…

The final two pandemic-delayed projects from HDB, Punggol Point Cove (Phase 2) and Kempas Residences, have been completed, announced Minister for National Development Desmond Lee on Jan 20.According to Lee, these two Build-to-Order (BTO) projects mark the completion of all 92 pandemic-delayed housing projects by HDB. Over the last five years, these projects have delivered more than 75,800 new flats to Singaporeans.In 2024, HDB completed 22 housing projects, out of which 17 were delayed due to the pandemic. The remaining four projects were completed on time, with the exception of one that faced non-pandemic related delays. This achievement reflects HDB’s commitment to providing quality homes for Singaporeans, even amidst challenging circumstances.AdvertisementAdvertisementAmong the 22 housing projects completed in 2024, two were Shorter Waiting Time (SWT) projects, which were completed within a waiting period of less than three years. These were Parc Glen at Tengah and Grove Spring at Yishun, with a total of 1,995 flats. The completion of these projects demonstrates HDB’s efforts to reduce waiting time for home buyers, in line with the government’s goal of providing citizens with affordable housing options.The remaining 20 projects had a waiting period of up to five years. In total, more than 18,000 flats were completed in 2024, says HDB.Punggol Point Cove (Phase 2) residents have been receiving their keys since November 2024, with the latest key collection taking place in January this year for Kempas Residences. HDB is expected to inform the remaining flat owners of their key collection date soon, after the completion of all blocks within both projects this month.Located along New Punggol Road, Punggol Point Cove (Phase 2) offers 1,179 units of two-room flexi, three-, four-, and five-room flats across six residential blocks. Despite facing delays, the last block was completed only 12 months after its original Probable Completion Date (PCD) earlier this month.AdvertisementAdvertisementAs of Jan 15, 657 households, or 59% out of the 1,109 booked units, have collected their keys. HDB notes that the completion of Punggol Point Cove (Phase 2) represents the final stage in the development of the entire Punggol Point District, which includes Punggol Point Cove (Phase 1), Punggol Point Woods, and Punggol Point Crown BTO projects, all completed in 2024.Situated between Serangoon Road, Lavender Street, and Boon Kheng Road, the Kempas Residences BTO project comprises 583 units of two-room flexi, three-, and four-room flats across four residential blocks. The final block, which was delayed by six months, was finished in mid-January.Out of the 555 booked units, only 37 households, or approximately 7%, have collected their keys as of Jan 15.HDB statistics show a significant increase in the number of housing projects under construction, from 95 a year ago to 110 currently. This is due to the surge in BTO supply in recent years. HDB assures that it remains on track to deliver around 17,000 flats from 27 projects in 2025.

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When evaluating the viability of a Singapore condo investment, it is crucial to also consider the potential rental yield. The rental yield is the annual rental income expressed as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can vary significantly, influenced by factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, tend to offer better rental yields. To determine the rental potential of a specific Singapore condo, conducting comprehensive market research and seeking guidance from real estate agents can provide valuable insights.…

CDL, a real estate company, has announced that its subsidiary, CDL Hotels Holdings New Zealand Limited (CDLHH NZ), is offering NZ$2.25 ($1.72) per share to purchase all outstanding shares in New Zealand-listed Millennium & Copthorne Hotels New Zealand Limited (MCK). Following the acquisition, CDL plans to delist and take MCK private, aiming to simplify its ownership structure in New Zealand. MCK currently owns, leases, or franchises 18 hotels in New Zealand and has a majority stake in CDL Investments New Zealand Limited, with interests in Australian properties through its subsidiaries.

When it comes to investing in real estate, Singapore is a prime choice for many individuals due to its numerous benefits. The city has a high demand for residential properties, which presents a great opportunity for capital appreciation and attractive rental yields. However, before jumping into any investment decisions, it’s vital to carefully evaluate key factors, including location, financing options, government regulations, and market conditions. Thorough research and seeking guidance from experts are crucial to make informed choices and maximize returns in Singapore’s ever-changing real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, consider exploring the options available through Singapore Projects. With a wide selection of properties to choose from, investing in a condo through Singapore Projects is a smart and financially rewarding move. Don’t miss out on this opportunity, join Singapore Projects now.

As of January 17, CDLHH NZ holds a 75.86% stake in MCK, equivalent to 80.02 million shares, which exceeds the threshold for compulsory acquisition under the New Zealand takeovers code. CDLHH NZ also intends to redeem the non-voting redeemable preference shares issued by MCK at NZ$1.70 (approximately $1.30) per share. This purchase will take place through Craigs Investment Partners, CDLHH NZ’s broker, on the Main Board of the New Zealand Stock Exchange. As of January 17, CDLHH NZ holds a 91.34% stake in MCK’s non-voting redeemable preference shares, or 48.17 million shares.

If all shareholders of MCK accept the offer, CDLHH NZ will pay a total consideration of NZ$57.29 million. Furthermore, CDLHH NZ expects to pay around NZ$7.77 million to acquire all redeemable preference shares. The offer price for MCK’s shares and redeemable preference shares takes into account the prevailing and historical market price, as well as the industry and business environment in which MCK operates.

According to its financial statements for the first half of FY2024, MCK’s net asset value (NAV) and net tangible asset value (NTA) were both NZ$532.02 million. As of June 30, 2024, the NAV and NTA attributable to the shares subject to the offer were approximately NZ$85.62 million each.

The offer is subject to CDLHH NZ obtaining at least 90% of the voting rights in MCK by 5pm on May 2. CDLHH NZ must also obtain consent under the Overseas Investment Act 2005 and the Overseas Investment Regulations 2005 of New Zealand for the acquisition of all MCK shares. The implementation and payment of the offer are not expected to have a significant impact on CDL’s EPS or NTA for the FY2025 ending December 31.…