Singapore Real Estate

Occupancy rate of industrial space dips in 2014: MTI

The occupancy rate in the industrial space market fell from 93 per cent in 2012 to 91 per cent in 2014, following the Government’s release of more industrial land in recent years. The occupancy rate of JTC’s and HDB’s industrial facilities also dipped from 97 per cent in 2012 to 94 per cent in 2014, said Trade and Industry Minister Lim Hng Kiang in a written parliamentary reply on Monday (17 Aug).

About 100,000 first-timers bought new HDB flats since 2008: Khaw

About 100,000 first-timer applicants, including families and singles, have bought a new HDB flat since 2008. National Development Minister Khaw Boon Wan said this in a written parliamentary reply to MP Gan Thiam Poh on Monday (17 Aug). Among the successful applicants, about 50,400 have collected keys to their flats.

After July surge, new private home sales expected to fizzle out in August

Developers' private home sales (excluding executive condominiums) in July quadrupled to 1,594 from just 375 in June. The July figure released by the Urban Redevelopment Authority on Monday is the highest monthly figure in about two years but is due largely to just one project.

Companies' Brief

S'pore top Asia-Pac commercial property buyer: DTZ

Singapore is the top source of capital for cross-border investment in commercial property in the Asia-Pacific, according to a press release by global real estate services company DTZ. It came in ahead of China and the US for outward investment in Asia-Pacific commercial real estate, helped by a stable Singapore dollar that lowered investment costs.

Views, Reviews & Forum

'Flexi' better for elder housing

The "Two-Room Flexi" scheme crafted by the Housing Board represents a useful refinement of the "last mile" delivery of cradle-to-grave public housing options for Singaporeans. Seniors who wish to sell a flat to fund their retirement can already buy studio apartments with a 30-year lease and cheaper price tags or two-room flats with a 99-year lease. The new scheme, on which the public is being consulted, aims to merge existing programmes by allowing those above 55 to apply for two-room flats with a choice of shorter lease periods ranging from 15 to 45 years.

Global Economy & Global Real Estate

Park Hotel Group makes foray into Australia

The Park Hotel Group has added its first hotel management contract outside Asia to its portfolio, a deal with Pirie Investments (AUS) to manage the 250-room Park Hotel Adelaide, as it continues to expand into key markets in the region. The new-build hotel, in the heart of Adelaide's Central Business District, is slated to open in the last quarter of 2018.

Lum Chang acquires UK commercial property

Lum Chang on Monday said it has signed a deal with UKI (Wembley) Limited to buy Kelaty House, a freehold commercial property in Wembley, north-west London, for £25.5 million (S$55.6 million). The property is located within the Wembley Regeneration Area near the iconic Wembley Stadium in an area that is rapidly transforming into a vibrant and dynamic neighbourhood, the Singapore construction group and property developer said.

Colliers International has new occupier services team

Us-Based global commercial real estate services firm Colliers International Group Inc has announced the expansion of its occupier services in Asia with a series of appointments and promotions made to develop its regional service offer to Colliers' corporate clients.

Beijing steps up property curbs in red-hot areas

Younger son of founder strengthens his hold on Lotte Group

Beware tighter rules and pitfalls of buying real estate in Australia

Builders in U.S. Gain Confidence as New York Factories Slump

Cornerstone Hires Winterfield, JPMorgan’s Yang for Real Estate

India, U.A.E. Plan $75 Billion Fund as Modi Seeks Investment