Author: vulcanismo

Offering immediate rental income and long-term capital appreciation potential, two freehold shophouses located at 5 and 7 Jasmine Road are up for sale via expression of interest (EOI) at a guide price of $10.5 million, or $2,665 psf on the floor area.

The two-storey shophouses have a total site area of approximately 3,650 sq ft, with an existing combined floor area of about 3,940 sq ft. Located in the heart of Upper Thomson and surrounded by a number of popular eateries, cafes, and prestigious educational institutions, the properties are zoned for “residential with commercial at 1st storey” use, with a gross plot ratio of 3.0 and building height control of up to four storeys under the 2019 Master Plan.

The properties are situated close to amenities such as Upper Thomson Plaza shopping mall and Adelphi Park Estate. Additionally, they are easily accessible via major roads and expressways such as Upper …

The 26-unit walk-up development located at 52 to 62H Tanjong Katong Road has been put up for collective sale at a guide price of $63 million. This release is the second try made by the owners, as the property already was launched for tender at an indicative price of $65.5 million in July last year.

Sole marketing agency Huttons Asia informed that the property received several offers below the asking price. Spanning an area of 32,397 ft, the four-storey building is zoned for residential use with an allowable gross plot ratio (GPR) of 1.4 and could potentially yield 45,356 ft of gross floor area upon redevelopment. An average size of 915 ft could accommodate approximately 49 residential apartments.

The guide price implies a land rate of $1,401 per square foot per plot ratio, including a estimated land betterment charge of $530,000. However, taking into consideration a 7% bonus balcony gross …

Two well-maintained conservation shophouses located in District 8’s Jalan Besar/Little India precinct have been put up for sale with a guide price of $13 million. With a total floor area of 5,360 sq ft, the two-storey shophouses coupled with its mezzanine space is available at a price of $2,425 psf. The properties come with a land area of approximately 2,870 sq ft and a frontage of 11.4 metre along Perak Road.

These shophouses are conveniently situated merely three minutes away from Rochor MRT Station and have been approved for use as a backpackers’ hostel. Gracelynn Zhu of PropNex Shophouse Elites, which is the property’s marketing agency, reveals that the current owner has received multiple offers from potential tenants, despite their well-kept condition and ideal location surrounded by amenities and close to the Bugis area. However, vacant possession will be provided to the new owner who can then decide which type …

Sandeep Sethi has been appointed by JLL as their new Division President of Work Dynamics in the Asia Pacific region. He currently holds the portfolio of Managing Director and Head of Work Dynamics for West Asia, and the new appointment expands his responsibilities. With over 27 years of professional experience, 10 of which he has been associated with JLL, Sethi has been successful in developing deep client relationships, and growing the business to become the largest occupier agency managing over 160 million sq ft of office spaces in India, Sri Lanka, Mauritius and Bangladesh.

In his new role at JLL, Sethi will look after the North Asia market, and ensure quality of services delivered to the clients. He has also been tasked with increasing JLL’s market share in mainland China and Hong Kong. Sethi will be based in Gurgaon and will report to Susheel Koul, CEO for Work Dynamics, Asia …

The sale of a 500,000 sq ft shipyard at 1 Benoi Road has been launched via an expression of interest (EOI) exercise at a guide price of $11.3 million. Located at the junction of Benoi Road and Pioneer Road, within Jurong Industrial Estate, the property is suitable for shipbuilding, ship or vessel repair and maintenance. It features a two-storey office block with a single-storey annexe office, three blocks of single-storey workshop, a mould loft building, a fabrication workshop and wharf.

The location provides excellent access to major expressways and is only a five-minute drive away from Joo Koon MRT Station.

Isabel It, associate division director of Huttons Asia, says the plot is regular in shape with a corner frontage of about 255m on Benoi Road and Pioneer Road and an average plot depth of about 213m. The land is generally at an access-road level with a flat contour and to …

The tender for a 99-year leasehold residential government land sale (GLS) site at Lentor Gardens saw GuocoLand and Intrepid Investments (a subsidiary of Hong Leong Group) joint venture partners submitting a $486.8 million bid, translating to a land rate of $985 psf per plot ratio (psf ppr).

Mark Yip, CEO of Huttons Asia, noted that the bid was the lowest for a land parcel in the Lentor precinct. This was the first residential GLS tender to see only one bid since the Silat Avenue GLS site in 2018, which was won for $1.035 billion by a consortium led by UOL Group.

The last two residential GLS sites offered in the Lentor area were Lentor Central and Lentor Hill (Parcel B). Lentor Central was awarded to a consortium comprising China Communications Construction, Soilbuild Group Holdings and United Engineers with a $481.03 million bid ($1,108 psf ppr). The top bidder for Lentor …

City Developments Limited (CDL) is a leading real estate developer based in Singapore. The company has been in the business for over 50 years and has established itself as a prominent player in the industry. CDL is involved in various aspects of real estate development, including property development, investment, and management. The company has a global presence, with projects in Asia, Europe, and North America.

History

CDL was founded in 1963 by Kwek Hong Png, who remains the company’s executive chairman. The company’s first project was a small apartment complex in Singapore’s Upper Serangoon area. In the early years, CDL focused on residential and commercial property development in Singapore. In the 1970s, the company expanded into the hospitality industry, with the acquisition of the Orchard Hotel in Singapore.

Over the years, CDL has grown to become one of Singapore’s largest and most successful real estate developers. The company’s portfolio includes …