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A large residential land parcel site at Stirling Road, which has been on the Reserve List of the Government Land Sales (GLS) programme for the past seven years, has finally been sold at a record price of over S$1 billion in a joint bid from Logan Property Holdings - a newcomer hailing from China's Guangdong province - and Chinese conglomerate Nanshan Group.
This marks Hong Kong-listed Logan Property's maiden participation in the Government Land Sales (GLS) programme and foray into the Singapore residential market. "Bullish bidding is now the norm for GLS residential sites, driven by expected market recovery and limited number of sites on the market.
The site, which can yield 1,110 units on a huge 2.11-ha size requiring heavy financial commitment from developers - saw a healthy demand of 13 developers bidding for the prime land parcel.
This marks Hong Kong-listed Logan Property's maiden participation in the Government Land Sales (GLS) programme and foray into the Singapore residential market. "Bullish bidding is now the norm for GLS residential sites, driven by expected market recovery and limited number of sites on the market.
The site, which can yield 1,110 units on a huge 2.11-ha size requiring heavy financial commitment from developers - saw a healthy demand of 13 developers bidding for the prime land parcel.
This is the first time that a purely residential site in the GLS has crossed the S$1 billion mark. The S$1.003 billion price tag is also almost 50 per cent (46.7 per cent) higher than the previous record — a site that has been developed into Costa Del Sol condominium, which was sold at S$682.8 million or S$457 psf per plot ratio (ppr) in January 1997.
The substantial number of bidders for this relatively large plot reflects both the hunger of developers for limited sites and their upbeat sentiments indicating that the property market in Singapore may be recovering.
Developers have confidence in the Singapore residential market, believing that prices could return to growth soon & the ability to price higher than the existing launches in the vicinity. Logan Property investor relations director Derek Lee told The Business Times that the group has been studying the Singapore market for a while & believes "its the right time to enter Singapore. No one knows where the (market) bottom is but our bidding price is reasonable given the quality land site & location".
The substantial number of bidders for this relatively large plot reflects both the hunger of developers for limited sites and their upbeat sentiments indicating that the property market in Singapore may be recovering.
Developers have confidence in the Singapore residential market, believing that prices could return to growth soon & the ability to price higher than the existing launches in the vicinity. Logan Property investor relations director Derek Lee told The Business Times that the group has been studying the Singapore market for a while & believes "its the right time to enter Singapore. No one knows where the (market) bottom is but our bidding price is reasonable given the quality land site & location".
The bullish bid of S$1,050.7 per square foot per plot ratio (psf ppr) on gross floor area for the 99-year-leasehold site also sets a new record in the Queenstown area, as analysts expect the selling price for this Stirling Road development to start from $1,700 psf onwards, thereby possibly increasing buyer's interest towards nearby projects like Queens Peak, conveniently situated beside Queenstown MRT.
Queens Peak embodies the confluence of style and smart living in prime city fringe location.
Extracted from Business Times Online article: "China group beats forecasts with record S$1b bid for GLS site" on 19 May 2017
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”Budget 2017 outlines how we can thrive in an uncertain and rapidly changing world. It is a call for us to pull together – the Government, firms, unions, community organisations and individuals, with everyone doing his part. Our bonds will help us develop greater resilience in the face of unexpected shifts and improve our ability to adapt.”
Heng Swee Keat
Minister for Finance, Singapore
20 February 2017
Minister for Finance, Singapore
20 February 2017
The Government’s Budget statement for financial year 2017 was delivered on Monday (Feb 20) by Finance Minister Heng Swee Keat who outlined three main themes of economy, environment and society that is facing our island nation of Singapore today.
Below are six measures that are likely to affect Singaporeans directly:
Below are six measures that are likely to affect Singaporeans directly:
Water prices are set to increase by 30 per cent in two phases starting July 1, 2017.
Prices of water need to reflect the rising costs of producing water. The Government's efforts in building more desalination and NEWater plants have also made water more costly. However, the Government will introduce measures to help lower and middle-class income households offset this increase. This is the first time in 17 years that water prices have been revised.
Prices of water need to reflect the rising costs of producing water. The Government's efforts in building more desalination and NEWater plants have also made water more costly. However, the Government will introduce measures to help lower and middle-class income households offset this increase. This is the first time in 17 years that water prices have been revised.
Taxes on diesel vehicles will also be restructured -
The Government is introducing a volume-based duty at S$0.10 per litre on automotive diesel, industry diesel and diesel components in biodiesel.
The Government is introducing a volume-based duty at S$0.10 per litre on automotive diesel, industry diesel and diesel components in biodiesel.
Increase in the GST Voucher - Utilities-Save (U-Save) rebate for eligible HDB households -
To offset the increase in water prices, there will be a permanent increase in the GST Voucher - Utilities-Save (U-Save) rebate for eligible HDB households. The increases will range from $40 to $120 depending on the HDB flat type. Lower-income households will also receive a one-off GST Voucher - Cash Special Payment of up to $200.
To offset the increase in water prices, there will be a permanent increase in the GST Voucher - Utilities-Save (U-Save) rebate for eligible HDB households. The increases will range from $40 to $120 depending on the HDB flat type. Lower-income households will also receive a one-off GST Voucher - Cash Special Payment of up to $200.
Service and Conservancy Charges (S&CC) rebate will be extended -
Eligible households will get 1.5 to 3.5 months of S&CC rebates this year.
Eligible households will get 1.5 to 3.5 months of S&CC rebates this year.
Personal Income Tax Rebate -
To help residents with tax bills, there will be a Personal Income Tax Rebate of 20 per cent of tax payable, capped at $500, for income earned in 2016. - See more at: http://news.asiaone.com/news/singapore/budget-2017-5-things-may-affect-you-directly#sthash.jsX4ahPi.dpuf
To help residents with tax bills, there will be a Personal Income Tax Rebate of 20 per cent of tax payable, capped at $500, for income earned in 2016. - See more at: http://news.asiaone.com/news/singapore/budget-2017-5-things-may-affect-you-directly#sthash.jsX4ahPi.dpuf
If you're a student: More bursaries for post-secondary education -
Annual bursaries will rise up to $400 more for undergraduates, up to $350 for diploma students and up to $200 for students in the Institute of Technical Education (ITE).
Other than increasing bursary amounts, the income eligibility criteria will also be revised, enabling about 12,000 more Singaporean students to benefit and bringing the total number of beneficiaries to 71,000.
Annual bursaries will rise up to $400 more for undergraduates, up to $350 for diploma students and up to $200 for students in the Institute of Technical Education (ITE).
Other than increasing bursary amounts, the income eligibility criteria will also be revised, enabling about 12,000 more Singaporean students to benefit and bringing the total number of beneficiaries to 71,000.
CPF Housing Grant increase for first-time home buyers -
Couples who are buying a resale flat for their first HDB home will receive more subsidies from the Government. First-timer couples who buy resale flats that are 4-room or smaller will get $50,000, up from the current $30,000. Those buying resale flats that are 5-room or larger will receive $40,000, also up from $30,000.
Couples who are buying a resale flat for their first HDB home will receive more subsidies from the Government. First-timer couples who buy resale flats that are 4-room or smaller will get $50,000, up from the current $30,000. Those buying resale flats that are 5-room or larger will receive $40,000, also up from $30,000.
Additional Registration Fees up, if you're thinking of buying a motorcycle -
Motorcycle riders may soon need to pay higher taxes on their vehicles, following the introduction of a tiered Additional Registration Fee (ARF) system. At present, all motorcycles incur an ARF of 15 per cent of their open market value (OMV). But with the new system, the ARF for motorcycles with OMV of up to $5,000 will remain at 15 per cent, the next $5,000 will incur ARF of 50 per cent, while the remaining value over $10,000 will be subject to an ARF rate of 100 per cent. The tiered ARF will apply to motorcycles registered from the second certificate of entitlement (COE) bidding exercise in Feb 2017.
The Transport Ministry will also stop the contribution of motorcycle COE quota to the open category, as very few have been used to register motorcycles.
Motorcycle riders may soon need to pay higher taxes on their vehicles, following the introduction of a tiered Additional Registration Fee (ARF) system. At present, all motorcycles incur an ARF of 15 per cent of their open market value (OMV). But with the new system, the ARF for motorcycles with OMV of up to $5,000 will remain at 15 per cent, the next $5,000 will incur ARF of 50 per cent, while the remaining value over $10,000 will be subject to an ARF rate of 100 per cent. The tiered ARF will apply to motorcycles registered from the second certificate of entitlement (COE) bidding exercise in Feb 2017.
The Transport Ministry will also stop the contribution of motorcycle COE quota to the open category, as very few have been used to register motorcycles.
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The West Coast Vale 99-year leasehold plot was launched on Dec 7, 2016 attracted the top bid of $292 million by China Construction Development in a hard-fought, nine-way battle for a residential land parcel in West Coast Vale.
Mr Desmond Sim, head of CBRE Research for Singapore and South-east Asia, said: "The plot is the last site to be sold on the Government Land Sales confirmed list for 2016 and the profiles of the bid parties reflect interest from some relatively newer developers and small-cap players who find the quantum affordable and easy to manage. This will negate the risks for developers making their first foray into the residential market".
Mr Sim said the site is in an enclave of private developments, an established area close to the park connector network along Sungei Pandan. "It requires the use of prefabricated materials which will help to keep a lid on construction costs."
Mr Desmond Sim, head of CBRE Research for Singapore and South-east Asia, said: "The plot is the last site to be sold on the Government Land Sales confirmed list for 2016 and the profiles of the bid parties reflect interest from some relatively newer developers and small-cap players who find the quantum affordable and easy to manage. This will negate the risks for developers making their first foray into the residential market".
Mr Sim said the site is in an enclave of private developments, an established area close to the park connector network along Sungei Pandan. "It requires the use of prefabricated materials which will help to keep a lid on construction costs."
The West Coast Vale 99-year leasehold plot was launched on Dec 7, 2016
Close behind, in second spot, MCC Land tendered $289.9 million, or about $587.3 psf ppr, for the parcel with a site area of about 176,294 sq ft - close to the top end of the expected $450 psf ppr to $600 psf ppr range.
The bid of $592 per sq ft per plot ratio (psf ppr) was towards the upper end of expectations, said JLL national director of research and consultancy Ong Teck Hui, who also felt that it reflects optimism that the residential market will continue to improve.
Mr Ong said the top bid was 7.4 per cent above the $551 psf ppr paid for the adjacent Parc Riviera site as it is slightly superior, being farther from the Ayer Rajah Expressway. The West Coast Vale site is also somewhat near the Jurong Lake District and malls like Jem.
Private home sales in 2016 grew nearly 16 per cent over the previous year and is expected to improve further in 2017, while price declines have been moderating.
Mr Ong said the top bid was 7.4 per cent above the $551 psf ppr paid for the adjacent Parc Riviera site as it is slightly superior, being farther from the Ayer Rajah Expressway. The West Coast Vale site is also somewhat near the Jurong Lake District and malls like Jem.
Private home sales in 2016 grew nearly 16 per cent over the previous year and is expected to improve further in 2017, while price declines have been moderating.
Parc Riviera is the latest residential condo by EL Development along West Coast Vale.
A version of this article appeared in the print edition of The Straits Times on February 10, 2017, with the headline 'West Coast Vale site draws top bid of $292m'.
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The Tuas viaduct is the first in Singapore to integrate road and rail to enhance transport connectivity to businesses in Tuas.
The Tuas viaduct, a 4.8-km stretch linking Tuas South Avenue 3 to Tuas Road, will open on Feb 18 at 6am. Peak period congestion in Tuas is expected to ease with the opening of this new viaduct serving the western industrial area.
Built at a budget of S$3.5 billion over five years, the viaduct is the first in Singapore to integrate road and rail, and is aimed at enhancing transport connectivity to businesses in Tuas.
The viaduct, Singapore's first "twin-tier road-rail integrated viaduct", will provide a faster route to Tuas South by allowing motorists to bypass the busy Pioneer Road. The stretch forms part of a 7.5-km rail viaduct linking the MRT stations of Tuas Link, Tuas West Road, Tuas Crescent and Gul Circle – slated to open in the second quarter of this year – with Joo Koon station on the East-West Line. Once opened, commuters to the Tuas area can save up to 35 minutes in travelling time, LTA said.
Built at a budget of S$3.5 billion over five years, the viaduct is the first in Singapore to integrate road and rail, and is aimed at enhancing transport connectivity to businesses in Tuas.
The viaduct, Singapore's first "twin-tier road-rail integrated viaduct", will provide a faster route to Tuas South by allowing motorists to bypass the busy Pioneer Road. The stretch forms part of a 7.5-km rail viaduct linking the MRT stations of Tuas Link, Tuas West Road, Tuas Crescent and Gul Circle – slated to open in the second quarter of this year – with Joo Koon station on the East-West Line. Once opened, commuters to the Tuas area can save up to 35 minutes in travelling time, LTA said.
The new viaduct will reduce congestion and drive further investment in the western part of Singapore
From Tuas West Road station to the area around Tuas Road, the rail viaduct runs directly above the road viaduct. The road viaduct in turn runs two lanes in each direction above the busy Pioneer Road over a 2.4-km stretch, with capacity for conversion to three lanes depending on future traffic needs. The new viaduct will help reduce congestion, and drive further investment in the area and we can expect more factories to shift to Tuas with the completion of the stretch.
The completed viaduct, part of the Tuas West Extension project, provides better transport connections for the future Tuas Port, and other upcoming industrial developments within the area.
Motorists using the viaduct can by-pass up to six traffic junctions at Pioneer Road. Motorists can enter the viaduct via two up-ramps at Tuas South Ave 3 and Jalan Ahmad Ibrahim. There will be three down-ramps along the viaduct.
The completed viaduct, part of the Tuas West Extension project, provides better transport connections for the future Tuas Port, and other upcoming industrial developments within the area.
Motorists using the viaduct can by-pass up to six traffic junctions at Pioneer Road. Motorists can enter the viaduct via two up-ramps at Tuas South Ave 3 and Jalan Ahmad Ibrahim. There will be three down-ramps along the viaduct.
The Tuas West Extension will improve the MRT connectivity that is currently lacking in the Tuas area.
The Tuas West Extension will improve the MRT connectivity that is currently lacking in the Tuas area. Its 4 stations link up the Jurong and Tuas industrial areas:
- Gul Circle
- Tuas Crescent
- Tuas West Road
- Tuas Link
A version of this article appeared in the print edition of The Straits Times on January 19, 2017, with the headline 'New Tuas viaduct to open on Feb 18; Tuas West MRT extension to open in Q2 of 2017'.
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We all know how important it is to keep our house clean. However, many of us find the housework daunting or tiring. If you are planning to clean up your house, you may watch some of the best house cleaning video tips that I find useful which I believe may benefit you too. :)
Learn 10 cleaning tips for people who hate housework in this quick tips video from Howcast.
Cleaning is a pain. Here are 25 cleaning hacks from List25 that you will wish you knew about sooner!
Learn 7 awesome life hacks from Household Hacker to quickly clean your bathroom, leaving it looking shiny and new! Common household items can clean up even the worst mess & stains to save money.
Learn 10 ways to make life easier in this quick tips video from Howcast.
Hope these videos helped you as they have helped me. Happy cleaning and looking forward to your feedback on your house cleaning tips!
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The site at Perumal Road, near Farrer Park MRT station, Low Keng Huat Ltd put in the top bid of $174.08 million
A residential with first storey commercial site at Perumal Road in Litte India attracted strong interest from developers, with 11 bids submitted at the close of its public tender on Tuesday (10 Jan 2017), announced by Urban Redevelopment Authority (URA). The site is near the Farrer Park MRT station and commercial amenities such as City Square Mall and Mustafa Centre.
Out of the eleven bids received for the site at Perumal Road, near Farrer Park MRT station, Low Keng Huat Ltd put in the top bid of $174.08 million ($1,000.71 psf per plot ratio) which was 4.4% higher than the next highest bid of $958.28 psf per plot ratio from China Construction (South Pacific) Development. Allgreen Properties came in third with a bid of $161.5 million ($928.4 psf per plot ratio).
Out of the eleven bids received for the site at Perumal Road, near Farrer Park MRT station, Low Keng Huat Ltd put in the top bid of $174.08 million ($1,000.71 psf per plot ratio) which was 4.4% higher than the next highest bid of $958.28 psf per plot ratio from China Construction (South Pacific) Development. Allgreen Properties came in third with a bid of $161.5 million ($928.4 psf per plot ratio).
Forte Suites is a new condominium at Rangoon Road. Walk to Farrer Park MRT and developed by JForte Holdings.
It is interesting to note that 9 out of the 11 bidders bid higher than the top bid for the nearby site (Sturdee Residences) in March 2015. Even the winner of the Sturdee Residences came in at 8.25% higher than the bid placed two years ago (SL Capital bid $786.92psf ppr in March 2015 compared to $851.88psf ppr in the tender closing today)
This clearly indicates that the shortage of residential land sites is being keenly felt by developers, going by the tender results of the first GLS land tender for the year. Developers are clearly looking to replenish their depleting inventory and the Perumal plot offers the added bonus of a small size and therefore an affordable quantum of $174 million.
This clearly indicates that the shortage of residential land sites is being keenly felt by developers, going by the tender results of the first GLS land tender for the year. Developers are clearly looking to replenish their depleting inventory and the Perumal plot offers the added bonus of a small size and therefore an affordable quantum of $174 million.
Sturdee Residences by Sustained Land is located close to Farrer Park MRT station in District 8
The site benefits from its proximity to transport nodes – the Dhoby Ghaut Interchange is only two stops away. Other amenities nearby include the relatively new One Farrer Hotel, Farrer Park Medical Hospital and City Square Mall.
The parcel at Perumal Road is zoned for residential with commercial on the first storey. It had been launched for sale under the Confirmed List in November 2016 under the 2H2016 Government Land Sales Programme.
The parcel at Perumal Road is zoned for residential with commercial on the first storey. It had been launched for sale under the Confirmed List in November 2016 under the 2H2016 Government Land Sales Programme.
28 RC Suites is near Farrer Park MRT Station and schools, e.g. Farrer Park Pri, Stamford Pri and Insworld Institute
"The private residential market is showing signs of stabilising and may very possibly recover by 2018. This would coincide well with the launch of the Perumal project," said Mr Wong Xian Yang, head of research and consultancy at OrangeTee.
Analysts put the potential average selling price for units at above $1,700 psf, based on the high land price submitted.
Analysts put the potential average selling price for units at above $1,700 psf, based on the high land price submitted.
A version of this article appeared in the print edition of The Straits Times on January 11, 2017, with the headline 'Bullish bids in Perumal Road land tender'.
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183 Longhaus is a new freehold condo - former Longhouse Food Centre along 183 Upper Thomson Road.
Finally, it seemed the blockbuster $638 million sale of Shunfu Ville sealed in May 2016 may eventually go through as planned. The largest enbloc deal since 2007 - property developer Qingjian Realty on the 4th Jan 2017 obtained High Court approval for the collective purchase of Shunfu Ville estate.
The Straits Times reported that two owners who had objected to the sale were at the High Court yesterday, but were not represented by lawyers. No written judgment was issued, but the objecting owners have 30 days to file an appeal.
The Straits Times reported that two owners who had objected to the sale were at the High Court yesterday, but were not represented by lawyers. No written judgment was issued, but the objecting owners have 30 days to file an appeal.
Thomson Impressions is a beautiful condo project nestled in Sin Ming Avenue, along Upper Thomson Road.
Each flat owner stood to pocket an average of $1.782 million, after they had agreed to lower the reserve price from $688 million to $638 million. But Qingjian faced a hiccup in October 2016, when five owners objected to the sale. This meant that the deal needed High Court approval. Owners can object on grounds such as financial loss, even after the sale committee gets the requisite percentage of owners' approval.
The Straits Times understands that three of the objecting parties eventually withdrew their objections. It is not clear why the two remaining owners are objecting.
The Straits Times understands that three of the objecting parties eventually withdrew their objections. It is not clear why the two remaining owners are objecting.
Adana @ Thomson is a freehold development located at Upper Thomson Road, sitting next to Lower Pierce Reservoir Park.
Qingjian Realty (South Pacific) Group, which had hoped to build a project of 30 to 36 storeys, has been told by the Urban Redevelopment Authority (URA) to stick to a 21- to 23-storey limit.
Qingjian managing director Li Jun told The Straits Times the company was "very happy" to have obtained the High Court's approval and while the company would wait 30 days, in case of appeal, it was examining plans and designs for the estate.
Qingjian managing director Li Jun told The Straits Times the company was "very happy" to have obtained the High Court's approval and while the company would wait 30 days, in case of appeal, it was examining plans and designs for the estate.
A version of this article appeared in the print edition of The Straits Times on January 05, 2017, with the headline 'High Court approves Shunfu Ville collective sale'.
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Forest Woods - latest new condominium in Serangoon. Experience the convenience of being within 5 mins walk to NEX Mega Mall and Serangoon Bus & MRT interchange station connected to both Circle Line and North East Line.
The sale by tender of a 2.55ha mixed commercial and residential plot of land in the upcoming Bidadari housing estate along Upper Serangoon Road has been deferred by The Housing and Development Board (HDB) on Thursday on 29 December 2016 to allow the site requirements for comprehensive development to be finalised. It is expected to go up for tender by the end of the first quarter next year.
Stars of Kovan, along Upper Serangoon Road is a new residential & commercial mixed development developed by Cheung Kong Property Holdings Limited (CKPH). Strategically located next to Kovan MRT, it is also close to Heartland Mall and one MRT Station away from NEX shopping mall & Hougang mall.
The site, which can yield 825 private homes and 15,000 sq m of commercial space, was due to be put on the market in Dec 2016 for sale through a public tender in December under the confirmed list of the second half 2016 Government Land Sales (GLS) Programme, but now it seems this has been postponed until early 2017. It was stated then that the developer would have to build about 8,200 sq m of gross floor area in the development for "integrated community and institutional uses" and a cap on the gross floor area of retail space at 15,000 sq m.
Nestled within the serenity of District 19 near Upper Serangoon Road with only 28 choice homes for your selection, this 999 year leasehold project is easily accessed via the PIE, CTE and North East Line. Surrounded by low-density residential enclaves, the spacious units of Hilbre28 make for ideal homes that are highly sought after.
The land parcel along Upper Serangoon Road's site is located right next to Woodleigh MRT Station and is the first sale site at Bidadari - a new public housing estate envisioned to be a "community in a garden", with lush greenery and car-lite features.
The upcoming Upper Serangoon Road mixed development site is expected to draw keen interest from developers given its attractive location and potential demand from prospective home buyers, as seen in the overwhelming response for the Build-to-Order HDB flats released in Bidadari. Therefore, buying interest is definitely expected to be strong from home buyers for private residential properties in Bidadari as well.
The upcoming Upper Serangoon Road mixed development site is expected to draw keen interest from developers given its attractive location and potential demand from prospective home buyers, as seen in the overwhelming response for the Build-to-Order HDB flats released in Bidadari. Therefore, buying interest is definitely expected to be strong from home buyers for private residential properties in Bidadari as well.
A version of this article appeared in the print edition of The Straits Times on December 30, 2016, with the headline 'Launch of mixed-use site in Bidadari deferred'.
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The Kuala Lumpur – Singapore High Speed Rail (HSR) project connects Kuala Lumpur and Johor Bahru with Singapore cutting travel time to within 90 mins.
Malaysian agency MyHSR expects land for the Kuala Lumpur-Singapore High Speed Rail (HSR) project to be acquired by the third quarter of 2017, after the alignment plan’s public display by the middle of the year, reported The Star. Tasked with overseeing the bilateral project, MyHSR is now looking at parcels of land measuring 50m wide that can be used as the final alignment from the terminus at Bandar Malaysia in KL.
Clement Canopy launching soon in 2017 is beside NUS High and Nan Hua High and a short walk to Clementi Mall and only one MRT stop to Jurong East to shop at JEM, JCube, Westgate, Bigbox, etc
The 50m-wide band will house not only the tracks, but also a buffer zone for safety purposes considering that the trains could travel by up to 350kmh, said Mohd Nur Ismal Kamal, CEO of MyHSR.
“A mix of private and state land will be acquired, though a lot of them run through plantations,” he said.
The project is expected to achieve two milestones by Q1 2017.
“A mix of private and state land will be acquired, though a lot of them run through plantations,” he said.
The project is expected to achieve two milestones by Q1 2017.
Lake Grande is an attractive condo project that investors and property hunters love. This project is situated at the doorstep of Jurong Central Business District and HSR and offers convenience that is unmatched.
The first is the announcement of the tender to appoint a joint development partner (JDP). Singapore and Malaysia will jointly award the tender for the JDP, which will provide advice on technical, operational and procurement matters, particularly in relation to the project’s system aspect.
MyHSR will also release the result of the tender for the services of reference design consultants (RDC) for the Malaysian stretch by Q1 2017, said Mohd Nur.
MyHSR will also release the result of the tender for the services of reference design consultants (RDC) for the Malaysian stretch by Q1 2017, said Mohd Nur.
Sol Acres Executive Condo (EC) is the top selling EC in Singapore for many consecutive months in 2016 including Dec partly due to its status as a 'subsidised' condo and strategic location near Jurong East CBD
“The RDCs will look at the respective stations and alignments to optimise them all, though it will be more from the civil engineering perspective.” He explained that the future HSR stations will be built in new areas not far from existing population and business centres, so as not to negate the time savings from HSR by the longer travel time for the last mile.
“The stations also need to be big enough to cater to the expected and future ridership, and have ample space for development around them,” he added.
“We have to balance between these factors.”
“The stations also need to be big enough to cater to the expected and future ridership, and have ample space for development around them,” he added.
“We have to balance between these factors.”
The Kuala Lumpur-Singapore High Speed Rail (HSR) is a strategic project between the Governments of Malaysia and Singapore to facilitate seamless travel between the two capital cities, enhance business linkages, and connect the peoples of both countries closer together.
The Kuala Lumpur–Singapore High Speed Rail (HSR) project was announced by the Malaysian Prime Minister Najib in September 2010 to connect Kuala Lumpur and Johor Bahru with Singapore. On 19 February 2013, Singapore and Malaysia officially agreed to build a high-speed rail link between Kuala Lumpur and Singapore by 2020 at a meeting between Singapore’s Prime Minister Lee Hsien Loong and Malaysia’s Prime Minister Najib Razak in Singapore.
The construction of the highspeed railway was expected to start in the third quarter of 2015. However, an update by the Malaysian Land Public Transport Commission (SPAD) now places the commencement of works to be in 2017, with the completion in 2026.
The construction of the highspeed railway was expected to start in the third quarter of 2015. However, an update by the Malaysian Land Public Transport Commission (SPAD) now places the commencement of works to be in 2017, with the completion in 2026.
Extracted from news article 'Land acquisition for HSR project to take place next year' - Propertyguru - 28 Dec 2016
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For many hungry Raffles Place workers, Golden Shoe Carpark building is best known as home to a favourite lunchtime hawker centre.
The manager of CapitaLand Commercial Trust (CCT), the property owner, said on Wednesday (Oct 19) it has submitted plans to the authorities to redevelop the 10-storey building into a “higher-value commercial development” with a gross floor area of 1 million sq ft. The Government’s approval for the redevelopment is necessary as the site is currently zoned for transport use. CCT said it has started preliminary discussions on the proposed redevelopment with the relevant authorities.
Built in 1984, the Golden Shoe Carpark building in the Raffles Place financial district is set to be redeveloped as an office tower up to 280m high - one of the Central Business District's tallest. Regulars of the hawker centre can rest assured that lunch will still be served there as the redeveloped site will include a hawker centre owned by the Government.
The manager of CapitaLand Commercial Trust (CCT), the property owner, said on Wednesday (Oct 19) it has submitted plans to the authorities to redevelop the 10-storey building into a “higher-value commercial development” with a gross floor area of 1 million sq ft. The Government’s approval for the redevelopment is necessary as the site is currently zoned for transport use. CCT said it has started preliminary discussions on the proposed redevelopment with the relevant authorities.
Built in 1984, the Golden Shoe Carpark building in the Raffles Place financial district is set to be redeveloped as an office tower up to 280m high - one of the Central Business District's tallest. Regulars of the hawker centre can rest assured that lunch will still be served there as the redeveloped site will include a hawker centre owned by the Government.
The redevelopment is likely to start by the second half of next year, subject to relevant approvals, and is expected to be completed in 2021. A new food centre owned by the Government is expected to replace the existing food centre and adjoin the new office tower. CCT said it will work with the authorities to set up a temporary food centre in the vicinity for current stallholders to continue their business during the redevelopment period.
Golden Shoe tenants have been informed that they have to vacate the property by Jul 31, 2017. Vehicle owners who have a season parking pass for the car park have also been notified to look for alternative parking when the car park ceases operation in end-July next year.
CapitaLand Commercial Trust (CCT) has another project CapitaGreen located nearby that has been reaping good rental yield and they believe they are able to repeat the same value - creation success of CapitaGreen, which was redeveloped from the former Market Street Carpark.
CapitaLand Commercial Trust (CCT) is confident of the long term demand for quality office space in Singapore especially when there is no known new supply in Raffles Place beyond 2018.
Golden Shoe tenants have been informed that they have to vacate the property by Jul 31, 2017. Vehicle owners who have a season parking pass for the car park have also been notified to look for alternative parking when the car park ceases operation in end-July next year.
CapitaLand Commercial Trust (CCT) has another project CapitaGreen located nearby that has been reaping good rental yield and they believe they are able to repeat the same value - creation success of CapitaGreen, which was redeveloped from the former Market Street Carpark.
CapitaLand Commercial Trust (CCT) is confident of the long term demand for quality office space in Singapore especially when there is no known new supply in Raffles Place beyond 2018.
Are you looking to rent a good shop space in Kovan? We have shops from $1,000 per month or below $5 psf rental.
A version of this article appeared in the print edition of The Straits Times on October 20, 2016, with the headline 'Golden Shoe Carpark building to be redeveloped as office tower'.
