Two new MRT lines to be completed by 2040s, $1 billion invested in rail maintenance

Two proposed new MRT lines are currently under consideration by Singapore’s Land Transport Authority. These lines are expected to be completed in the 2040s and could potentially serve more than 400,000 households.

The first proposed line, the Seletar Line, aims to serve areas such as Woodlands, Sembawang, Sengkang West, Serangoon North, Whampoa, Kallang, and the Greater Southern Waterfront. The second line, tentatively named the Tengah Line, is expected to supplement the existing transport network in the west and northwest regions, serving areas like Tengah, Bukit Batok, Queensway, and Bukit Merah.

Transport Minister Chee Hong Tat announced in a parliamentary speech on March 5 that the Seletar Line and Tengah Line may be connected, pending the results of LTA’s feasibility studies.

Chee also revealed LTA’s plans to move forward with the West Coast Extension (WCE), which …

Elias Green in Pasir Ris to be launched for collective sale by ERA Realty Network

Elias Green, a 99-year leasehold condominium located in Pasir Ris, is set to hit the market for collective sale via public tender on March 6. ERA Realty Network, the appointed marketing agent, announced that the property has a guide price of $928 million.

Developed in 1994, the condo sits on a 516,871 sq ft land parcel that is zoned for residential use with a gross plot ratio of 1.4. The development comprises several blocks and offers a total of 419 units, ranging from 1,367 to 1,636 sq ft in size. With a tenure of 99 years from 1991, the property has a remaining lease of 65 years.

According to ERA, the guide price of $928 million works out to be a land rate of $1,355 psf per plot ratio (ppr). This includes an estimate of …

The Government Land Sale (GLS) tender for Media Circle (Parcel A) located in the one-north area recently closed on March 4. The top bid of $315 million was submitted by a consortium comprising Qingjian Realty, Forsea Holdings, and minority investor Hoovasun Holding. The 99-year leasehold site, which is zoned for residential use with commercial on the first storey, spans over 82,125 sq ft and has a land rate of $1,037 psf per plot ratio (ppr).

The site has the potential to yield 325 housing units and has a maximum gross floor area of 303,865 sq ft. In a press statement, Qingjian and Forsea announced their plans to develop two high-rise residential towers with commercial spaces on the first level.

The site attracted a total of three bids, with the Qingjian-Forsea consortium’s bid being 5.7% higher than the next bid by EL Development, at $298 million or $981 psf ppr. The …

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Purchasing a Singapore Condo has numerous benefits, the most notable being the potential for capital appreciation. Thanks to its strategic position as a global business hub and strong economic roots, Singapore maintains a steady demand for real estate. Over the years, the local property market has shown a consistent increase in prices, especially for condos situated in prime areas. Those who strategically invest in Singapore Condos at the right time and hold onto their properties for an extended period can enjoy substantial profits from the lucrative capital gains. In fact, Singapore Condos are a wise investment for those looking to maximize their returns in the long run.

HPL, a renowned property player and hotelier, is making strides in its global expansion plans with the proposed purchase of InterContinental Auckland for NZ$180 million ($138.5 million). This bold move marks HPL’s first venture into New Zealand and its second acquisition of …

Total investment in real estate across the Asia Pacific (Apac) region reached US$83.2 billion ($112 billion) in the second half of 2024, reflecting a 6% year-on-year (y-o-y) increase, according to research conducted by Colliers. This brings the total investment for the whole of 2024 to US$155.9 billion, up by 12% y-o-y. These figures encompass the top nine markets in the region, including Australia, Mainland China, Hong Kong, India, Japan, Singapore, South Korea, New Zealand, and Taiwan.

The resilient performance of the Apac real estate market in 2024 sets the stage for a robust 2025, says Chris Pilgrim, the managing director of global capital markets for Colliers in Asia Pacific. According to Pilgrim, the growth in investments demonstrates the strength and attractiveness of the region as an investment destination for institutional investors.

Domestic investors have played a significant role in driving growth in key markets such as South Korea, Taiwan, and …

Investing in Singapore Condo has become an increasingly popular option in recent years. One crucial aspect to consider before making a condo investment in the country is the government’s property cooling measures. Over time, the Singaporean government has implemented various regulations to control speculative buying and maintain a steady real estate market. Among them is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may impact the short-term profitability of condo investments, they also contribute to the long-term stability of the market, making it a secure environment for investors. With these measures in place, Singapore Condo remains an attractive option for those looking to invest in the country’s property market.

for $400 milSINGAPORE: Lee Chee Koon, the group CEO of CapitaLand Investment Limited (CLI), has been awarded the ‘Industry Figure of the Year’ for Asia Pacific …

Singapore-based private equity real estate firm, SC Capital Partners Group, has successfully divested its student accommodation asset in Sydney, Australia. The company announced the sale through a press release on March 3, stating that the asset located on Anzac Parade and Lorne Avenue in Kensington was sold at a premium compared to its acquisition price and current book value, to the University of New South Wales (UNSW) in Sydney.

When it comes to investing in a condo, securing financing is a crucial factor to consider. Fortunately, in Singapore, there are various mortgage choices available. However, it’s crucial to note that the Total Debt Servicing Ratio (TDSR) framework is in place, which determines the loan amount a borrower can take based on their income and current debt responsibilities. Awareness of the TDSR and seeking guidance from financial advisors or mortgage brokers can assist investors in making well-informed financing decisions and preventing …

City Developments’ shares saw a significant drop of 28 cents, or 5.47%, when trading resumed today amidst an internal dispute that has escalated to a court battle.

On February 26, trading of the company’s shares was halted and a scheduled results briefing was cancelled abruptly. Shortly after, the business community in Singapore was hit with the news of a conflict between executive chairman Kwek Leng Beng and his son, group CEO Sherman Kwek.

In response to media reports on the disagreement within the board, CDL released a statement on March 3 stating that they will not comment on the validity of the allegations as they are currently involved in court proceedings related to the matter. The company reassured shareholders that their business operations are functioning as usual and that Mr. Sherman Kwek will remain as the Group CEO unless there is a decision made by the board to change company …

The cityscape of Singapore boasts futuristic skyscrapers and state-of-the-art infrastructure. These towering structures are home to luxurious condominiums that are strategically situated in highly sought-after locations, making them desirable to Singaporeans and expatriates alike. These condos are fitted with top-notch facilities including indulgent swimming pools, well-equipped gyms, and top-notch security services, all of which elevate the standard of living and make them an attractive choice for potential tenants and buyers. For savvy investors, these attractive features equate to lucrative rental returns and an increase in property value over time. If you’re looking for the perfect Singapore Condo to invest in, look no further than Singapore Condo.

Perpetual (Asia) Limited, the trustee of Elite UK REIT, has sold Crown Buildings in Caerphilly for GBP710,000 ($1.2 million), which represents an 18% premium. The sale was announced in a filing to the bourse on March 3.

The building, located in Wales, was …

Mandarin Gardens has made headlines as it recorded the most profitable condo resale transaction in the week of February 7 to February 14. The transaction involved a four-bedroom unit spanning 3,800 sq ft, which sold for $4.88 million, or $1,284 psf, on February 11. According to URA records, the unit on the eighth floor was last sold for $1.05 million, or $276 psf, in June 2003.

This sale resulted in a profit of $3.83 million, or 364.8% of the original purchase price, for the seller. This translates to an annualized capital gain of 7.4% over the span of 21 and a half years. This transaction also sets a new record for the most profitable sale at Mandarin Gardens, overtaking the previous record held by a 3,068 sq ft four-bedroom unit on the 20th floor. This unit was purchased for $1.4 million ($456 psf) in August 2001 and sold for $4.1 …