Month: January 2025

Commonwealth Towers, a 99-year leasehold condo along Commonwealth Avenue, set a new psf-price record during the period of Dec 27 to Jan 3. According to EdgeProp, the 845-unit development recorded the sale of a 904 sq ft, three-bedroom unit on the 40th floor for $2.22 million, translating to a new price high of $2,460 psf on Dec 27. This surpasses its previous record of $2,402 psf set just three months prior, when a 689 sq ft, two-bedroom unit on the 42nd floor was sold for about $1.65 million in September 2024. This marks an 11.6% increase in average resale prices since 2022.The average resale price of condo units at Commonwealth Towers has been on the rise over the past three years, with the project recording average prices of $1,971 psf, $2,097 psf, and $2,200 psf in 2022, 2023, and 2024 respectively. By absolute price, the most expensive unit to change …

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HDB to Offer Over 25,000 New Flats in 2025

The Housing and Development Board (HDB) is set to launch more than 25,000 new flats in 2025, according to a joint press release by HDB and the Ministry of National Development (MND) on January 16. Minister for National Development Desmond Lee made the announcement, revealing that the new flats will be available through various sales exercises, including Build-to-Order (BTO) and Sale of Balance Flats (SBF).

Around 19,600 BTO flats will be offered across three sales exercises, while more than 5,500 SBF units will be available in one SBF sale exercise. The new units will be classified under the Standard, Plus, and Prime categories of the new flats classification framework.

The February BTO launch will offer approximately 5,000 flats in four different locations – Kallang/Whampoa, Queenstown, Woodlands, and Yishun.

HDB’s largest-ever SBF exercise will also be conducted next month, with over …

The penthouse unit at Orchid Mansion in District 15 was recently sold for a profitable $4.88 million on Dec 31, 2024, making it the most profitable resale transaction during the period of Dec 31, 2024, to Jan 7, 2025. The 2,842 sq ft unit on the 21st floor was sold at a price of $4.88 million, translating to a profit of $2.58 million (112%). This sale also recorded an annualized profit of 4.9% over the course of nearly 16 years.This transaction at Orchid Mansion is the most profitable resale deal recorded at the development so far, surpassing the previous record of $1.15 million (72.6%) when a 1,507 sq ft three-bedroom unit on the seventh floor was sold for $2.73 million ($1,812 psf) in July 2022. The unit was previously bought for $1.58 million ($1,050 psf) in June 2007.Orchid Mansion, located at 11 Amber Road, is a freehold development that is …

City Developments Limited (CDL) has announced that it sold assets worth more than $600 million last year as part of its capital recycling efforts. The company also has several other divestments in the pipeline, although this falls short of the $1 billion target set in early 2020 before the volume of deals dropped off in most markets and asset classes.

Among the divestments completed last year were the Ransome’s Wharf site in London, the freehold eight-storey industrial building Cideco Industrial Complex in Singapore, and various strata units at Citilink Warehouse Complex, Cititech Industrial Building, Fortune Centre, and Sunshine Plaza in Singapore.

CDL also rolled out The Orie, a joint venture with Frasers Property and Sekisui House, in Toa Payoh, with prices starting from $1.28 million.

The mixed-use development Hong Leong City Centre in Suzhou is currently under contract and expected to be completed this quarter. CDL group CEO Sherman Kwek …

A freehold bungalow located at 11 Whitley Road is currently up for sale via tender with a guide price of $31.88 million. The two-storey property sits on an elevated freehold site of 15,276.27 sq ft, which translates to a guide price of $2,087 psf on the land area.

Originally built in 2016, the bungalow has undergone renovations with a rear extension added. It boasts five bedrooms, of which three are en suite, two living rooms, two dining rooms, a large well-equipped kitchen, and a helper’s room.

According to Aric Lim, associate district director of Huttons Asia – the exclusive marketing agent for the property at Whitley Road – the land parcel can potentially be subdivided for the redevelopment of eight terraced houses. Each site could range from 1,614 sq ft to 2,389 sq ft, with a gross floor area (GFA) of up to 21,528 sq ft, subject to land betterment …

Dublin-based HubSpot leases 55,000 sq ft at Guoco MidtownSingapore’s KL-Singapore high-speed rail station to be integrated with Guoco MidtownSINGAPORE (EDGEPROP) – Property developer GuocoLand has secured two green financing facilities from DBS Bank and Oversea-Chinese Banking Corporation (OCBC).The first facility is a $1.135 billion green facility for the refinancing of Guoco Midtown, which is the company’s largest to date. The second facility is a $105 million green facility for the refinancing of Midtown Bay.These green facilities were raised under GuocoLand’s Green Finance Framework, which was launched in 2019. The framework supports the company’s commitment to sustainability and aligns with global efforts to move towards a greener future.Under the framework, the company has secured about $5 billion of green financing, including green facilities for Guoco Tower and other developments such as Lentor Mansion, Lentor Modern, Midtown Modern, and the upcoming Upper Thomson Road Development.“This latest refinancing activity allows us to optimise …

The freehold mixed-use development Roxy Square, located in Katong, will be put up for collective sale again, according to a press release by JLL, the marketing agent for the property.The development, which includes 296 shops, 26 apartments, and the 576-room Grand Mercure Roxy Hotel, was previously launched for tender in July last year with a minimum price of $1.25 billion. However, the tender closed on Sept 26 without any successful bids.JLL has now revealed that the owners of Roxy Square are in the process of signing a supplemental agreement to lower the collective sale price by 10.8% to $1.115 billion. This new price will require the support of at least 80% of the owners to take effect, and currently more than 70% of owners are in favour.According to JLL, the reduced price would result in a unit land rate of $1,852 psf per plot ratio (ppr), which includes a Land …

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Boasting 172 units and set to be completed in 2027, The Arcady at Boon Keng will soon become an iconic freehold condominium in the heart of Boon Keng. Developed by trusted local developers KSH Holdings, SLB Development and H10 Holdings, in collaboration with renowned architectural firm Park + Associates, this distinguished residence will feature modern architecture and a dense green space along Serangoon Road, setting it apart from other properties in the neighbourhood.

The residential tower will sit amidst a curated landscape design, creating a rare urban oasis in the bustling city fringe. With its bold architectural form and tiered design, the project makes efficient use of space, with a ‘one-stop’ zone of communal facilities across just two floors at the base of the tower. Parents will appreciate the family-friendly amenities, while the 14th floor and rooftop terrace feature an abundance of facilities for all residents to enjoy.…

A portfolio of freehold strata retail units in Lucky Plaza is available for purchase at a total price of $52.6 million through Savills Singapore, the marketing agent. Lucky Plaza, situated on Orchard Road, is a mixed-use development consisting of a six-storey mall with a basement and a residential tower.

The portfolio comprises 14 retail units on the basement and first two levels of the mall, ranging in size from 118 to 3,046 sq ft. In total, the units occupy a strata area of 7,266 sq ft. According to Savills Singapore, the most distinctive feature of the offering is the food court, which spans seven adjoining strata units totalling 3,046 sq ft and houses 11 stalls. The remaining units are currently occupied by a variety of businesses, including a pub, retail stores, beauty services, and a maid agency.

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