Month: December 2024

Please rewrite the attached article.

In the coming years, Singapore’s built environment is expected to undergo significant changes. The facilities management (FM) sector must adapt to increasing regulatory demands, cost pressures, and advancements in technology. Three key factors will shape the future of FM and promote sustainability: the mandatory energy improvement regime, rising energy costs due to rising temperatures, and the growing trend of adaptive reuse in construction.

Mandatory energy audits and efficiency improvements will be required for existing energy-intensive buildings starting in 3Q2025. This requirement applies to commercial, healthcare, institutional, civic, community, and educational buildings with a gross floor area of over 5,000 sq m. By implementing the right strategies, buildings can reduce their energy usage intensity by 10% from pre-energy audit levels. This is an achievable goal and can help building owners save on operating costs in the long run.

To incentivize asset owners to make the necessary …

leads to 5% growth in prices for condos in Nov: Flash estimate

New Price Highs for Three Private Condos in Nov 29 to Dec 6

The Meyerise, Freehold Condo

The Meyerise achieved a new psf-price peak of $2,771 psf when a 1,270 sq ft unit was sold for $3.52 million. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

In the world of real estate investing, location is often the key factor that can make or break a property’s potential. This is especially true in Singapore, where the right location can significantly impact a condo’s value. Condominiums situated in central areas or in close proximity to important amenities such as schools, shopping centers, and public transportation hubs have shown a tendency to appreciate more in value. Iconic areas like Orchard Road, Marina Bay, and the Central Business District (CBD) have a reputation for consistently driving property values upwards. Moreover, condos located near …

The full list of profitable condo resale transactions for the week of Dec 3 to Dec 10, based on caveats lodged with URA:
A six-bedroom penthouse at JadeScape, a 99-year leasehold condominium located on Shunfu Road, was sold for a hefty profit, making it the most profitable condo resale transaction during the week of December 3 to December 10. The 4,230 sq ft unit on the 23rd floor was sold for $10.15 million ($2,399 psf) on December 9. The seller had purchased the unit from the developer in December 2019 for $5.8 million ($1,371 psf), resulting in a whopping profit of $4.35 million after owning the unit for just five years. This translates to a capital gain of 75% for the seller, or an annualized profit of 15%.

According to caveats lodged, this is the largest gain ever recorded for a unit at JadeScape. The previous record was held by …

SINGAPORE (Feb 11): CapitaLand Ascendas REIT (CLAR) has announced its plans to acquire a Class A logistics property, the DHL Indianapolis Logistics Center, from Exel Inc. d/b/a DHL Supply Chain (DHL USA) for a total of $150.3 million. The acquisition will be 4.1% below the independent market valuation of the property as of Jan 1, 2025. The total cost of acquisition, including transaction fees, expenses and an acquisition fee of $1.5 million paid to the manager, will amount to $153.4 million. The manager intends to use a combination of internal resources, divestment proceeds and/or existing debt facilities to finance the acquisition, as stated in a press release on Dec 17. Following the acquisition, DHL USA will enter into a long-term leaseback arrangement for the entire gross floor area (GFA) of the property until December 2035, with options to renew for an additional two five-year terms. This 11-year lease term, with …

Huge sale for Wee Hur as it sheds its PBSA assets for A$1.6 bil

Investing in a Condo in Singapore offers numerous benefits, one of which is the potential for capital appreciation. As a thriving global business hub with a stable economy, Singapore consistently experiences a high demand for real estate. This has led to a steady rise in property prices over the years, particularly for condos located in prime areas. Those who invest in the market at the opportune time and hold on to their properties for an extended period can expect significant gains in their capital. The Condo market in Singapore offers a lucrative opportunity for investors to see a healthy return on their investment.

Wee Hur Holdings has recently announced that it has reached a binding agreement with Greystar to sell its portfolio of purpose-built student accommodation (PBSA) assets consisting of seven properties. These assets, located in …

Hoi Hup Realty and Sunway Developments have jointly sold 137 units at Novo Place executive condominium (EC) during the second round of balloting on Dec 16. This phase was open to second-timers, who are buyers that have purchased a subsidized flat before, whether it is a new or resale HDB flat or an EC.

According to Mark Yip, CEO of Huttons Asia, this brings the total number of units sold at Novo Place to 444, which is 88.1% of the development. This achievement was reached within a month of the project’s launch on Nov 16, making it the top-selling EC project of 2024, Yip says.

“This is a strong indication of the interest from second-timers who are looking to upgrade their lifestyle,” Yip notes. “Many of the buyers are residents in the West.”

Novo Place has recorded a high demand for spacious homes, with all four-bedroom units being fully sold. …

According to data from URA published on December 16, developers sold 2,557 new private homes in November, not including executive condos (ECs). This marks a significant increase of 246.5% from the 738 new private homes sold in October and a jump of 226% compared to units sold in November 2023.

This figure represents the highest monthly developer sales since March 2013, when 2,793 units (excluding ECs) were sold. “The surge marked the highest monthly developer sales since March 2013, when 2,793 units (excluding ECs) were sold,” says Christine Sun, chief researcher and strategist at OrangeTee Group. Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc (SRI), adds that this is the first time new home sales have exceeded the 2,000-unit threshold in a single month since March 2013.

The November developer sales figure is a result of an “unprecedented” number of project launches during the month, says …

Investing in a condominium in Singapore has emerged as a highly sought-after option for both domestic and international investors, primarily due to the nation’s strong economy, unwavering political climate, and exceptional quality of life. With a thriving real estate market, the opportunities in Singapore are vast, and amongst them, the appeal of condo investments is particularly prominent. With an array of conveniences, luxurious amenities, and the potential for lucrative returns, condos have become a favored choice for property investments in Singapore. This article will delve into the advantages, considerations, and necessary steps to take when investing in a condo in Singapore, including keeping an eye on new condo launches.

Hilton, a leading global hospitality company, has recently opened the Hilton Garden Inn Beihai Jiafu in the vibrant seaport city of Beihai, China. This milestone marks the 100th Hilton Garden Inn property in the Greater China region. The 199-room hotel …

CapitaLand Investment Limited (CLI) is making major moves in the Australian market with its recent acquisition of the property and corporate credit investment management business of Wingate Group Holdings for A$200 million ($173 million) and an earn-out contingency.

This acquisition will contribute to CLI’s total funds under management (FUM) in Australia, which is currently at A$2.5 billion. This will increase CLI’s FUM in Australia by 30%, bringing it to a total of $8.3 billion, which is approximately 7% of its total FUM of $115 billion. CLI has set a target to reach $200 billion in FUM by 2028.

.

Investing in a condominium has its advantages, one of which is the opportunity to utilize its value to make further investments. Numerous investors leverage their condos by using them as collateral to secure additional financing for new ventures, effectively expanding their real estate portfolio. Incorporating New Condo Launches into their investment …

A row of four freehold conservation shophouses located at 762, 764, 766 and 768 North Bridge Road is currently available for purchase through an expression of interest (EOI). With a guide price of $37 million, these properties present an attractive investment opportunity for both local and foreign buyers looking for potential capital gains and stable rental yield.

The shophouses are situated across two plots of land measuring 5,766 sq ft, with an average land rate of $6,417 psf. The first plot consists of 762 and 764 North Bridge Road, sharing a 2,891 sq ft plot of land with a built-up area of 4,917 sq ft, including a mezzanine level. The remaining two shophouse units at 766 and 768 North Bridge Road are situated on an adjacent plot spanning 2,875 sq ft with a built-up area of 4,657 sq ft, also including a mezzanine level.

Exclusively marketed by Isabel Sim, associate …