Condo Siteismi

UEM Sunrise and Singapore-listed GuocoLand have recently signed a Memorandum of Understanding (MOU) for the development of selected freehold land in Iskandar Puteri, Johor. This marks the first MOU signed between private companies from Malaysia and Singapore within the Johor-Singapore Special Economic Zone (JS-SEZ).

The signing of this MOU was held in conjunction with the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the group’s vision for Iskandar Puteri. This area, which is part of Flagship Zone B within the JS-SEZ, specializes in various sectors including manufacturing, business services, education, health, and tourism.

The MOU covers UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. This collaboration aims to accelerate growth and enhance the attractiveness of Iskandar Puteri for investments. It will focus on improving connectivity, talent development, and creating a business-friendly ecosystem to drive sustainable economic benefits in Johor.

According to Hafizuddin Sulaiman, CFO of UEM Sunrise, this partnership is not just about development, but also about shaping a thriving end-to-end, future-ready economic hub that will create jobs and fuel long-term growth in Johor.

The sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making them ideal for driving long-term economic growth and positioning Iskandar Puteri as a robust business and investment hub.

“The JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all part of a larger vision to position Johor as a dynamic and forward-thinking economy,” says Datuk Hisham Hamdan, chairman of UEM Sunrise, in a speech.

According to GuocoLand CEO Cheng Hsing Yao, the Singapore-listed property group brings along its experience in real estate development and asset management, as well as an understanding of the needs of companies from Singapore, Malaysia, and China that are looking to establish a presence in the JS-SEZ.

When it comes to investing in a condo, financing is a crucial factor to consider. Thankfully, Singapore has a variety of mortgage options available. However, it is crucial to have a good grasp on the Total Debt Servicing Ratio (TDSR) framework, which sets a limit on the amount of loan a borrower can take based on their income and current debt commitments. To make well-informed decisions about financing, investors should be familiar with the TDSR and seek guidance from financial advisors or mortgage brokers. This will also help prevent them from over-leveraging. Additionally, checking out Singapore Projects can provide valuable insight for investors.

Together, the combined expertise of UEM Sunrise and GuocoLand will enable them to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.

UEM Sunrise has played a key role in the urban development of Iskandar Puteri, with existing developments including residential townships such as the Aspira series and Senadi Hill, as well as commercial and retail hubs. The group is also developing a 380-acre industrial park in Gerband Nusajaya.

The growth in Iskandar Puteri is expected to be driven by incentives and support schemes introduced by the governments of Malaysia and Singapore, which aim to increase investments in the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.…

When it comes to investing in a Condo, there are many factors to consider beyond simply purchasing the property itself. It’s essential to also think about the maintenance and management of the real estate in question. One aspect of owning a Condo is the payment of maintenance fees, which cover the upkeep of shared spaces and amenities. While these fees may seem like an added expense, they are vital in preserving the value of the property. To make Condo ownership a more hands-off investment, property owners can seek the assistance of a reputable property management company to oversee the day-to-day management of their unit. This allows investors to ensure that their Condo remains in excellent condition and retains its value over time.

Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have recently announced the signing of a memorandum of understanding (MOU) between the two private companies. This marks the first MOU signed between Malaysia and Singapore private companies for the Johor-Singapore Special Economic Zone (JS-SEZ), as stated in a press release on Feb 27.

Under the MOU, the two groups will work together to develop selected freehold land owned by UEM Sunrise in Iskandar Puteri, Johor. The aim is to accelerate growth within the JS-SEZ. The MOU signing was held in conjunction with the opening of UEM Sunrise Gallery Iskandar Puteri, a display of the developer’s vision for Iskandar Puteri.

Iskandar Puteri, which is part of Flagship Zone B of the JS-SEZ, specializes in various sectors, including manufacturing, business services, education, health, and tourism. This makes it an attractive location for potential investments from overseas.

The MOU is expected to cover UEM Sunrise’s land in Gerband Nusajaya and Puteri Harbour, two key areas that have been carefully planned within Iskandar Puteri. Through this collaboration, the aim is to unlock the potential of Iskandar Puteri and make it even more attractive for investors. The focus will be on improving connectivity, developing talent, and creating a business-friendly environment that will bring sustainable economic benefits to Johor.

According to Hafizuddin Sulaiman, Chief Financial Officer of UEM Sunrise, this partnership goes beyond just development, as it aims to establish a thriving and future-ready economic hub that will drive long-term growth, create jobs, and strengthen the JS-SEZ ecosystem.

The sites chosen for development are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas. The partnership aims to spur long-term economic growth and position Iskandar Puteri as a robust business and investment hub.

In a speech, Datuk Hisham Hamdan, Chairman of UEM Sunrise, stated that the development of JS-SEZ, as well as the strategic partnerships, is part of a larger vision to establish Johor as a dynamic and forward-thinking economy.

Cheng Hsing Yao, CEO of GuocoLand, adds that the Singapore-listed property group will bring their experience in real estate development and asset management to the table. They also have a deep understanding of the needs of companies from Singapore, Malaysia, and China looking to establish a presence in the JS-SEZ. By combining their collective expertise, the two groups aim to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.

UEM Sunrise has already played a significant role in the urban development of Iskandar Puteri. The developer has previously worked on residential townships such as the Aspira series and Senadi Hill. They have also developed commercial and retail hubs, including an upcoming 380-acre industrial park in Gerband Nusajaya.

The growth of Iskandar Puteri is expected to be further propelled by incentives and support schemes introduced by the governments of Malaysia and Singapore. These measures aim to attract investments for the JS-SEZ and include special tax rates, stamp duty exemptions, and capital allowances. With this collaboration, UEM Sunrise and GuocoLand are poised to drive growth and create a vibrant and prosperous business hub in Iskandar Puteri.…

Frasers Property’s high-specification logistics facility in UK achieves practical completion for the 57,903 sq ft warehouse

Frasers Property joins hands with Chinese real estate groups to acquire Shanghai residential site

There has been a recent partnership between Frasers Property and two prominent Chinese real estate groups. Together, they have successfully acquired a residential site located in Songjiang District, Shanghai, China. According to a tender from the Shanghai Municipal Bureau of Planning and Natural Resources, the joint venture (JV) partners were able to secure the site for RMB815.2 million ($151.9 million). Xiamen ITG Real Estate Group, a subsidiary of ITG Holding Group, which is a state-owned enterprise under the Xiamen Municipal Government, and Shanghai-listed Gemdale Corporation, are the other JV partners.

A press release on Feb 26 revealed that the JV partners plan to develop the site into a mix of 189 low-rise apartments, townhouses, and duplex units. The total gross floor area of the project will be 334,714 sq ft. Moreover, the development will feature design for flood mitigation, ultra-low energy building designs, and energy-saving door and window systems. Other features include reduced thermal bridging and solar photovoltaics.

The project is expected to attract upgraders and first-time homebuyers in Fangsong Community, Songjiang District, located in Shanghai. The prime residential neighbourhood is also near two existing projects, Club Tree and Palace of Yunjian, that were developed through joint ventures involving Frasers Property and Gemdale Corporation.

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Purchasing a condominium presents the advantage of utilizing its value to leverage future investments. A popular approach among investors is to utilize their condos as collateral, obtaining additional funding for fresh investments and ultimately expanding their real estate portfolio. However, it is essential to have a well-thought-out financial plan and carefully analyze the effects of market volatility. It may also be beneficial to keep a close watch on new condo launches, as they can provide further options for investment in the dynamic real estate market. Don’t miss out on potential opportunities for investment by keeping an eye on new condo launches.

Lim Hua Tiong, CEO of emerging markets in Asia at Frasers Property, states that “This joint venture not only strengthens our presence in Shanghai but also underscores our commitment to delivering high-quality residential developments that meet the evolving needs of the Chinese community.”

The company has been actively involved in various property developments in Asia and is constantly looking for opportunities to expand its portfolio. With this new partnership, Frasers Property hopes to continue delivering high-quality residential developments to meet the growing demand in the Chinese market.…

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Investing in a Condo in Singapore requires careful consideration, especially when it comes to obtaining financing. Thankfully, multiple mortgage options are available, but it is crucial to have a thorough understanding of the Total Debt Servicing Ratio (TDSR) framework. This system sets a limit on how much a borrower can loan based on their income and existing debt obligations. Therefore, it is crucial to familiarize oneself with TDSR and seek guidance from financial experts or mortgage brokers to make well-informed decisions when purchasing a Condo in Singapore. This not only prevents potential overexposure to debt but also allows prospective buyers interested in owning a Condo in Singapore to make wise choices.

CDL’s Chair Halts “Serious Lapses” in Corporate Governance

City Developments (CDL)’s Executive Chairperson, Kwek Leng Beng, has announced that the “serious lapses” in corporate governance at the company have been stopped. According to a second statement released by Kwek, two new directors who were “irregularly and hastily appointed” on Feb 7, have agreed not to exercise any powers as directors until further notice from the court. These new directors are Jennifer Duong Young and Wong Su Yen, who were both appointed as independent non-executive directors through directors’ written resolutions. Kwek Leng Beng also mentioned that his son, Sherman Kwek, Philip Lee, Wong Ai Ai and the remaining directors who are acting in concert with them, have also promised not to take any further actions related to their attempted changes to the board committees and management of certain CDL subsidiaries, until further notice from the court. The “irregularly constituted” nominating and remuneration committee has also been stopped from taking any further action. As a result, CDL’s board committees and the management of relevant subsidiaries are now safe from any further attempts to destabilise, dismantle and reconstitute them, according to Kwek Sr.

He also stressed the importance of having strong corporate governance in place, stating that it is the foundation of a well-functioning and sustainable business. It ensures transparency, accountability, and responsible decision-making, which are vital in maintaining investor confidence and safeguarding the long-term interests of shareholders.

On the morning of Feb 26, CDL made an unexpected announcement to halt trading in its shares and cancel its FY2024 results briefing. In a media statement released at 1.51pm, CDL explained that the trading suspension was due to a disagreement within the board regarding the composition and constitution of the board and the board committees.

However, despite the trading halt, CDL’s business operations remain unaffected. Sherman Kwek remains the group CEO until there is a board resolution to change company leadership.

In his first press statement, Kwek Sr. accused his son, Lee, Wong, and a group of directors acting with them of trying to “consolidate control of the board and the group”. He also mentioned that he had filed court papers on Feb 25 to address this issue, which he believes is necessary to deal with the “attempted coup”.

“We intend to change the CEO at the appropriate time. We will continue to explore all legal options available to us to vigorously defend and protect the interests of CDL and its shareholders,” said Kwek Sr. He also added that if Sherman is removed as CEO, the current Chief Operating Officer, Kwek EIk Sheng, will serve as the interim CEO.

Shares in CDL last traded at $5.12 before the trading halt on the morning of Feb 26.…

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Colliers Expands Occupier Services Team Across Asia Pacific with Two New Appointments

Global real estate services firm Colliers International is continuing to strengthen its presence in Asia Pacific with the appointment of two new directors to its occupier services team.

In a press release on Feb 25, Colliers announced that Leanne Chin has been appointed as the director of regional tenant representation for Asia Pacific. Based in the firm’s Singapore office, Chin brings with her over 20 years of experience in the real estate industry, with a focus on corporate real estate and tenant representation.

When considering investing in a Singapore Condo, one must take into account the government’s property cooling measures. In an effort to prevent speculative buying and maintain a steady real estate market, the Singaporean government has implemented various measures over the years. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may affect the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, making it a more secure environment for investment.

In her new role, Chin will be responsible for driving the growth of Colliers’ occupier services platform in the Asia Pacific region and assisting clients in navigating complex real estate landscapes.

Additionally, Colliers has appointed Ali Porter as the director of enterprise clients for Hong Kong. Porter, who has been with Colliers for the past four years and was previously based in London, will be relocating to Hong Kong to take up his new role.

In this role, Porter will work closely with occupiers to align their real estate portfolio with their corporate strategies across the Asia Pacific region.

Commenting on these new appointments, Terence Tang, managing director of capital markets and investment services for Asia at Colliers, said: “We are delighted to have Leanne and Ali join our expanding team. With their extensive experience and knowledge of the industry, we are confident that they will add tremendous value to our occupier services platform and enable us to better serve our clients in the region.”

These new appointments are part of Colliers’ ongoing effort to strengthen its presence and capabilities in Asia Pacific, a key market for the firm. With the addition of Chin and Porter, Colliers looks set to continue providing high-quality real estate services to its clients across the region.…

It is crucial for those considering investing in Singapore’s real estate sector to have a comprehensive grasp of the regulations and limitations surrounding property ownership for foreigners. While the ownership guidelines for landed properties are quite stringent, the policies for foreign buyers looking to purchase condominiums are comparatively more flexible. Nonetheless, it is important for foreign investors to take into account the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial property purchase. This added expense notwithstanding, the consistent growth and potential of the Singapore property market continue to attract foreign investments. Moreover, with an abundance of new condo launches, there are now even more opportunities for foreign investors to tap into the flourishing Singapore property market and New Condo Launches in particular.

The property at Ching Shine Industrial Building is up for collective sale by tender, with JLL as the sole marketing agent. The minimum price for the freehold building is set at $113 million. The building, which was built in the early 1980s, consists of 52 strata units and boasts a 100m frontage along Shaw Road. It sits on a total land area of 49,308 sq ft and has a gross floor area of approximately 137,341 sq ft.

Under the URA Master Plan 2019, the building is zoned “Business 1” with a gross plot ratio of 2.5. According to JLL, more than 80% of the owners have given their consent for the collective sale at the minimum price of $113 million. At the existing gross plot ratio of 2.79, this price translates to a unit land rate of around $823 psf per plot ratio.

JLL also highlights that subject to URA approval, the site could potentially be converted into a food factory. The National Environment Agency (NEA) has confirmed that the site meets the buffer requirements for redevelopment into a multi-user factory, while the Singapore Food Agency has informed URA of their in-principle non-objection to the proposed food factory.

Alternatively, JLL notes that the freehold asset could also present an investment opportunity for family offices seeking long-term growth, as well as owner-occupiers looking to establish a corporate presence. Nicholas Ng, senior director of capital markets at JLL Singapore, believes the site would also appeal to developers, as there is no additional buyer’s stamp duty, which can impact project timelines.

The property enjoys excellent connectivity, with major expressways such as the PIE, CTE, and KPE nearby. It is also a short walk from Tai Seng MRT Station on the Circle Line. The building is situated in the Tai Seng Industrial estate, surrounded by food factories including Breadtalk IHQ, Sakae Building, and Food Empire Building. Nearby amenities include Grantral Mall @ Macpherson and 18 Tai Seng.

In November 2023, Noel Building, a freehold Business 1 industrial building at 50 Playfair Road, was sold en bloc for $81.18 million, which was 17% above its $70 million guide price. Ng believes this transaction demonstrates the “fervent demand” for such assets in the area. He expects a similarly competitive response for Ching Shine Industrial Building.

The tender for Ching Shine Industrial Building closes on April 3 at 3pm.…

City Developments Limited (CDL) has responded to its call for a trading halt earlier this morning, stating that the halt was due to a disagreement within the board regarding its composition and constitution.

Renowned for its robust economy, political stability, and exceptional living standards, Singapore has emerged as a preferred destination for condo ownership, attracting both local and foreign investors. With a diverse range of properties available, the country’s real estate market is renowned for its condominiums, which are highly coveted for their strategic location, luxurious amenities, and potential for profitable returns. For individuals considering investing in a condo in Singapore, there are numerous advantages to consider, as well as crucial factors to keep in mind throughout the process.

CDL stated in a statement issued on Feb 26, that despite the temporary suspension, its business operations are fully functional and unaffected. Sherman Kwek will continue as the group CEO “until there is a board resolution to change company leadership”.

The company also mentioned that as the matter is currently under review, it will make further announcements in accordance with the Singapore Exchange (SGX) listing rules if there are any material developments.

In a later statement, Sherman Kwek expressed disappointment in the extreme actions taken by the chairman and a minority of the board in regards to the disagreement about the size and composition of the CDL board. He reiterated that their focus was to improve governance and the decision-making process as a board.

CDL’s trading suspension today was due to this issue being brought before the courts, despite the majority of the board not authorizing this legal action. Sherman Kwek clarified that the issue was not about removing the chairman and that their goal was to ensure the highest standards of governance that CDL is known for.

As the matter is now before the courts, CDL will not comment on the case and will make further announcements if there are any significant developments. The company had announced its FY2024 results on Feb 26, before the market opened, and later cancelled its 10am results briefing. Shares in CDL last traded at $5.12.…

PropNex, the largest real estate agency in Singapore, has announced a decline in earnings for its 2HFY2024 which ended on December 31, 2024. The company’s earnings reached $21.9 million, a decrease of 14.9% compared to the previous year. This brings the total earnings for the year to $40.9 million, a decrease of 14.4% from the preceding FY2023.

The decline in earnings is attributed to the “relatively subdued property market”, which led to a 6.6% drop in revenue for FY2024 compared to FY2023. However, despite this, PropNex plans to celebrate its 25th anniversary by paying a special dividend of 2.5 cents per share, in addition to a final dividend of 3 cents. This will bring the total dividend payout for FY2024 to a record of 7.75 cents, with a payout ratio of 140.1% and a yield of 8.2%.

Although the company’s earnings were lower for the year, there was a pick up in activities in the last quarter of 2024, driven by a surge in sales of new private home units, which PropNex played a significant role in. The company expects to see the financial impact of these sales in its current 1HFY2025 numbers, which suggests a significant improvement in the company’s performance.

PropNex remains optimistic about its future performance, considering the favourable property market outlook in 2025 and the estimated launch of 13,000 new units (including ECs), which is almost double the supply in 2024. The private resale market is also expected to remain active, with transaction volumes projected to range between 14,000 and 15,000 units. The company attributes this demand to the price gap between new and non-landed resale properties, the demand for larger, move-in-ready homes, and the impact of fewer new supply completions.

In addition to the private market, HDB resale market is also expected to see a price growth of 5% to 7%, with estimated volumes of 29,000 to 30,000 units. PropNex predicts that this segment will continue to be supported by the decreasing number of five-year minimum occupation period flats entering the market, as well as the demand from urgent homebuyers, unsuccessful Build-To-Order applicants, and budget-conscious families.

When it comes to investing in a condominium, securing proper financing is crucial. Singapore provides a variety of mortgage choices, however it is imperative to be well-informed about the Total Debt Servicing Ratio (TDSR) framework. This framework puts a cap on the amount of loan a borrower can acquire, depending on their income and current debt obligations. To avoid overextending oneself, it is essential to comprehend TDSR and seek guidance from financial advisors or mortgage brokers. Additionally, incorporating Singapore Projects into the overall financial plan can aid investors in making informed decisions about their financing options.

According to PropNex, projects such as The Orie, Bagnall Haus, Parktown Residence, and ELTA have generated strong interest in the market. The company expects a positive demand for developers’ sales in 2025, with an attractive line-up of projects. Moreover, a positive economic outlook and lower mortgage rates could further boost market confidence, providing opportunities for both homebuyers and investors.…

A 999-year leasehold shophouse located at 209 Jalan Besar has been put on the market for sale by private treaty. The shophouse, which boasts two storeys and an attic, is being marketed by Gracelynn Zhu of PropNex Shophouse Elites for “below $20 million”.

With a total area of approximately 5,502 square feet, the shophouse is designated for commercial use and comes with a first-floor approval for a restaurant, as well as a portion of the second floor. Based on its $20 million price tag, the property’s per square foot price is approximately $3,635.

Situated in the Desker Road Conservation Area in District 8, the property is in close proximity to Little India and is within walking distance to the Jalan Besar MRT Station on the Downtown Line. According to a map from EdgeProp LandLens, the location of the shophouse can be easily identified.

Condos continue to be in high demand in Singapore, largely due to the limited amount of land available for development. Singapore, being a small island with a rapidly growing population, faces the challenge of finding space for new developments. To address this issue, the government has implemented strict land use policies, making the real estate market highly competitive and prices skyrocket. This has turned investing in real estate, specifically condos, into a profitable venture, with the potential for significant capital growth over time. Condos prove to be a lucrative opportunity in Singapore’s competitive real estate market.

Furthermore, Zhu has announced that the shophouse is currently undergoing asset enhancement initiatives (AEI), including the installation of micro piles that extend up to 30 meters in order to enhance the property’s structural foundations. It is expected that the AEI will be completed by the end of this year.

Interested buyers have the opportunity to acquire a piece of this valuable property that is located in a historically significant area with a rich cultural heritage. With a high potential for appreciation and a convenient location, this shophouse at 209 Jalan Besar is a valuable investment opportunity.…