Real News‎ > ‎2013‎ > ‎January 2013‎ > ‎

10 January 2013

10th January, Thursday




20 projects could benefit from new extension rule

Source: The Straits Times

About 20 residential properties could enjoy an extended project completion period under new rules announced by the Singapore Land Authority (SLA).

Usually, developers with any foreign shareholder have up to seven years to sell all the units in a new project - or they could face hefty charges for an extension.

But the rules are being relaxed as the developers concerned had responded to a government call in 2008 to defer the redevelopment of collective sale sites.

They had rented out the properties to alleviate a rental housing supply crunch then, the Ministry of Law told The Straits Times.

No charge will apply to extensions granted under the new rule.


Link to the story:  



Investment Sales


Villa Des Flores up for collective sale again

Source: Business Times

Villa Des Flores, a freehold development on Whitley Road has been put up for collective sale again, after two previously unsuccessful attempts last year.

The indicative price range remains unchanged at $160 million to $165 million or $1,533 to $1,581 per sq ft (psf), said the marketing agent.

The 41-unit condominium sits on a 104,370 sq ft land parcel and comprises 13 townhouses and 28 apartments.

According to Master Plan 2008, the site can be developed into two-storey mixed landed housing.

The tender closes on 30 January at 3pm.


Links to the story:   





Menlo to invest $100m in 2 new warehouses

Source: Business Times

Just four months after the last brick was laid on its 37,000 sq m warehouse facility in Singapore, Menlo Worldwide Logistics is already planning to pump in over $100 million into two other warehouse facilities here.

The warehouses, which will be ready in the next three years, will be "similar or even bigger" in size than the newly opened logistics centre at Sunview Way, said Robert Bianco, president of Menlo, at an inauguration ceremony yesterday.

The company is considering locations in the west of Singapore, where they will be close to the port and Malaysia.

The latest addition brings its space from all seven facilities in Singapore to a total of 195,000 sq m.

Menlo is one of four global logistics companies who have made sizeable investments, worth over $400 million in all, here since October last year. Home-grown YCH Group is building a $200 million logistics facility, while Bolloré Group subsidiary SDV and FedEx Express have also opened their respective $55 million and $97 million hubs.


Links to the story:



Investors make a bundle from trading in strata factories

Source: Business Times

An analysis of caveats by a consultancy found that nearly all those who bought and then sold the 618 industrial strata units - 99.7 per cent - made money. Only two transactions (0.3 per cent) incurred a loss.

The two loss cases involved units that had been bought in 2011.

The profit or loss was calculated as the difference between the sale and purchase price, without taking into account transaction costs and other expenses.

Among the 616 profitable deals, the average profit was 47 per cent, or $262,636.

The biggest gains were made by investors who waited the longest before selling their units last year: The owners of the 73 units bought in 2007 gained, on average, 85 per cent or $406,160.

This group was followed by those who bought their units during the 2009 economic downturn and divested their properties last year, reaping an average gain of 64 per cent or $366,208.

The elevated prices paid for the 177 units bought in 2011 and offloaded last year at a gain trimmed profits for their sellers to 27 per cent or $166,795 on average. Finally, investors who bought the 36 strata factory units last year and flipped them in the same year all managed to make a gain, but their profit margin thinned to 15 per cent or $86,797 on average.

The most popularly traded project in the secondary market last year - at least among those for which caveats of previous transactions could be traced - was Harvest @ Woodlands in Woodlands Industrial Park E5, with 58 units. Rounding off the top four developments were Midview City in Sin Ming Lane, Tradehub 21 in Boon Lay Way and Northstar@AMK, with 43 deals each.


Link to the story: