Two adjoining shophouses off Upper Thomson Road for sale at $10.5 mil

At the junction of Upper Thomson Road and Jasmine Road lies two freehold connecting shophouses, which are now up for sale via expression of interest (EOI) with a guide price of ten and a half million dollars. This equates to two thousand six hundred and sixty-five Singapore dollars psf for the floor area.

Standing two-storey tall, the properties occupy a total area of three thousand six hundred and fifty square feet and boast an existing floor area of thirty-nine hundred and forty square feet. The area is designated for both residential and commercial use, with a gross plot ratio of three, and a building height limit of four stories, in line with the 2019 Master Plan.

With an array of amenities and services in close proximity, the shophouses are just fifty metres away from the local shopping mall, and a minute’s walk from Upper Thomson MRT Station, with the Caldecott MRT interchange just one stop away. Steven Tan, managing director of capital markets and investment sales at ERA Realty Network, highlights the buyer’s options for this purchase.

Firstly, the shophouses can be rented out for immediate rental income, as well as future capital appreciation. Alternatively, if approved by the authorities, the two shophouses can be redeveloped into a four-storey residential building with a commercial space on the first floor, which would boast a total floor area of ten thousand nine hundred and fifty square feet.

The sale of these properties comes with existing tenancy and is sold as-is-where-is, to any interested buyer. The deadline for the EOI is 3 pm on May 8th.

This area is home to a number of services and amenities, including popular eateries and cafes along Upper Thomson Road, Sin Ming Plaza, and the nearby Junction 8 shopping mall. It also sits near some of Singapore’s renowned educational institutions, such as Ai Tong School, Catholic High School, CHIJ St Nicholas Girls’ School, Marymount Convent School, and Whitley Secondary School, which are within a one to two kilometre radius.

What’s more, with recent commercial transactions taking place in the surrounding area, the shophouses of Jasmine Road offer a unique chance for a highly profitable investment.

This rare opportunity offers the potential for both immediate rental income and long-term capital appreciation. The two freehold shophouses at 5 and 7 Jasmine Road are located in a strategic location, just a stone’s throw away from Upper Thomson MRT Station, as well as other major expressways and roads.

In close proximity to a range of amenities such as popular eateries and cafes, as well as prestigious educational institutions, the properties are easily accessible via roads such as Upper Thomson Road, Lornie Road, Thomson Road, Braddell Road, Marymount Road, and the Pan Island Expressway.

The EOI exercise for the shophouses closes on May 8th at 3 pm. If approved by the authorities, the successful buyer is also able to consider redeveloping the properties into a four-storey residential building with commercial space on the first storey, which would have a gross floor area of about 10,950 sq ft.

For those interested in investing in the shophouses of Jasmine Road, now is the time to act and take advantage of this exclusive opportunity.…

Collective sale of Tanjong Katong development relaunched at $63 mil

At 52 to 62H Tanjong Katong Road, the owners of a 26-unit walk-up development have relaunched the property for tender at a guide price of $63 million. The four-storey site, located in District 15, first had an asking price of $65.5 million last July and generated several offers below the figures.

Spread over 32,397 sq ft, the property has a land rate of $1,401 psf ppr – including an estimated land betterment charge of $530,000. This rate could be further lowered to $1,375 psf ppr once factoring in an added 7% bonus balcony floor area.

With a gross plot ratio of 1.4, the development has the potential to yield approximately 45,356 ft of gross floor area after improving the site. This could potentially have 49 residential apartments with an average size of 915 sq ft.

The collective sale property is situated in a desirable location. It enjoys a 10-minute drive away from the CBD and a 500m walk from Paya Lebar MRT Station. Additionally, it has nearby shopping malls, recreational facilities, F&B and cafe offerings within the Katong and Joo Chiat area.

“We expect that there would be keen interest from several developers in view of the brisk sale of Tembusu Grand,” shares Terence Lian, head of investment sales at Huttons Asia, referring to the 638-unit condo by City Developments and MCL Land.

Angela Lim, deputy head of investment sales at Huttons Asia adds: “We believe that it will be Marina Gardens Condo popular with professionals and young couples that prioritize convenience, being five stops to City Hall Interchange and within a stone’s throw to Paya Lebar Commercial Hub.”

The tender closes on May 9 at 2pm.

Recent transactions of condominiums around the area hint at the collective sale property’s potential. Tembusu Grand launched its units at an average price of $2,456 psf – with 53% of its units sold over the April 8 and 9 weekend.

This is the perfect opportunity for developers and homebuyers to look into investing in the area. With such convenience, abundant amenities and the space to expand, it is no wonder why the district is a popular choice.…

Two shophouses at Perak Road up for sale at $13 mil

Reinvigorated interest in tourism, given the global pandemic situation, has spurred the sale of two conservation shophouses at 6 and 7 Perak Road in Singapore. As they are zoned for commercial use, no additional buyer’s stamp duty is payable on the purchase of the properties. With an expected guide price of $13 million, this works out to $2,425 psf on the total floor area.

The two-storey shophouses, with mezzanine space and boasting a build-up area of 5,360 sq ft and occupying a land area of approximately 2,870 sq ft, have an 11.4m-wide frontage along Perak Road. Additionally, the properties have approval for usage as a backpackers’ hostel and are a mere three-minute walk from Rochor MRT Station.

Gracelynn Zhu of PropNex Shophouse Elites, which is marketing the property, notes that these well-maintained structures require minimal refurbishments and, being located in the Little India/Jalan Besar area, enjoy strong rental demand.

With the potential to offer a gross rental yield of over 3%, Zhu expects keen interest from investors looking for assets to provide strong rental and capital growth, as well as prospective hostel operators hoping to cash in on the recovery of the tourism sector.

The tender for the property will close on May 8 at 3pm. Vacant possession may be requested, allowing the new owner to decide which type of tenant profile they desire for the property.…

JLL promotes Sandeep Sethi to Asia Pacific division president for work dynamics

Sandeep Sethi has been appointed as Division President of Work Dynamics in Asia Pacific by JLL. Sethi will bring 27 years of corporate experience, 10 of which were with JLL, to the role. He is currently the Managing Director and Head of Work Dynamics for West Asia.

As Division President, Sethi will be responsible for providing integrated facilities management, construction management services, sustainability and workplace consulting, workplace experience and lease transaction management for occupiers, along with overseeing services delivered to clients in North Asia, and developing and growing JLL’s North Asia market share in Mainland China and Hong Kong.

Under his new role, Sethi will report to Susheel Koul, JLL’s CEO for Work Dynamics in Asia Pacific. Koul commented; “Sandeep is an established leader and a respected client advisor with an astute understanding of the dynamic nature of commercial real estate. His appointment reinforces JLL’s commitment to developing and elevating our people to serve our rapidly diversifying client base across Asia Pacific.”

Within his current portfolio, Sethi has been responsible for managing over 160 million sq ft of office space across 1,500 client sites in India, Sri Lanka, Mauritius and Bangladesh. He is based in Gurgaon and will continue to maintain this role as well.

Accompanying this appointment, Cushman & Wakefield has also made senior leadership promotions in the Asia Pacific region. This order of changes signifies a strengthening of the sector, with active investors set to venture into opportunistic deals in 2023, according to a recent report from CBRE.

JLL has expressed its confidence in Sethi’s ability, believing he will be a strong addition to the team and a key driver of success in the real estate industry.…

JLL promotes Sandeep Sethi to Asia Pacific division president for work dynamics

Sandeep Sethi has been appointed as the Division President of JLL’s Work Dynamics in Asia Pacific. Sethi previously served as Managing Director and Head of Work Dynamics for West Asia, where he was responsible for managing over 160 million square feet of office space across 1,500 client sites in India, Sri Lanka, Mauritius and Bangladesh.

In his new role, Sethi will expand his portfolio to include North Asia, overseeing services provided to clients, and growing JLL’s North Asia market share in mainland China and Hong Kong. Based in Gurgaon, Sethi will report to Susheel Koul, JLL’s CEO for Work Dynamics in Asia Pacific.

Commenting on his appointment, Koul said: “Sandeep is an established leader and a respected client advisor with an astute understanding of the dynamic nature of commercial real estate. His appointment reinforces JLL’s commitment to developing and elevating our people to serve our rapidly diversifying client base across Asia Pacific.”

With over 27 years of experience in the corporate space, Sethi’s decade of service at JLL gives him the background to excel in his new role.

As one of the leading providers of integrated real estate services, JLL’s Work Dynamics provides comprehensive solutions for occupiers, encompassing the full real estate lifecycle. This includes integrated facilities management, construction management services, sustainability and workplace consulting, workplace experience, and lease transaction management.

JLL has confidence that Sethi’s appointment to the position of Division President of Work Dynamics in Asia Pacific will help to further strengthen their commitment to developing and serving their client base.…

Shipyard at Benoi Road for sale at $11.3 mil

The property at 1 Benoi Road in Singapore’s Jurong Industrial Estate has been launched for sale at an expression of interest (EOI) exercise and a guide price of $11.3 million. This site of a shipyard has a site area of over 500,000 sq ft with waterfront access.

Located at the junction of Benoi Road and Pioneer Road, it’s approximately 24km from the City Centre and nearby housing estates such as Jurong East, Jurong West, Bukit Batok and Boon Lay Gardens. Additionally, the property has easy access to the island’s highways – the nearby Ayer Rajah Expressway and Pan-Island Expressway. Joo Koon MRT Station is just a five minute drive away.

Associate Division Director of Huttons Asia, Isabel It, describes the plot as regular in shape and possessing a corner frontage of 255m on Benoi Road and Pioneer Road with an average plot depth of 213m. The land also has a 230m frontage along the waterfront to the east and is generally found at an access-road level with a flat contour.

Recent transactions around Benoi Road, according to EdgeProp Research tool, indicate the last known sale of a similar-usage property was at 5 Benoi Road in December 2020 with a site area of 328,105sq ft and sold for $10.5 million. ST Engineering purchased a shipyard of 1.5 million sq ft at 55 Gul Road – about a 10 minute drive from 1 Benoi Road – for $95 million back in February this year.

Given the scarcity of sites suitable for shipbuilding or vessel repair and maintenance, Lee Sze Teck, Senior Director of Research at Huttons Asia, believes this property for sale is perfect for companies looking to expand their business.

The sale of the property is subject to approval from relevant authorities, and the deadline for the EOI exercise is April 27 at 3pm.

For those looking out at potential real estate investments near Benoi Road, the Jurong Industrial Estate is worth some attention. Check out the latest listings today.…

GuocoLand sole bidder for Lentor Gardens GLS site at $985 psf ppr

Sold! Singapore residential land prices soar, setting new GLS records

The 99-year leasehold residential government land sale (GLS) site at Lentor Gardens closed today with only one bid from GuocoLand and Intrepid Investments (a subsidiary of Hong Leong Group). The joint venture partners submitted a bid of $486.8 million, which translates to a land rate of $985 psf per plot ratio (psf ppr).

According to Mark Yip, CEO of Huttons Asia, the bid of $958 psf ppr is the lowest for a land parcel in the Lentor precinct and it is also the first residential GLS tender to receive only one bid since the tender of the Silat Avenue GLS site in 2018. The site was launched as the 1,074 unit Avenue South Residences in September 2019 and is now fully sold.

The last two residential GLS sites to be sold in Lentor were in Lentor Central and Lentor Hill (Parcel B), both of which were awarded last September. Lentor Central was awarded to a consortium comprising China Communications Construction, Soilbuild Group Holdings and United Engineers, who submitted a bid of $481.03 million ($1,108 psf ppr). Meanwhile, TID (a joint venture between Hong Leong Group and Mitsui Fudosan) was the top bidder for Lentor Hills (Parcel B) at $276.36 million ($1,130 psf ppr).

The two land parcels can yield about 470 and 265 units respectively. Prior to this, a GLS site at Lentor Hills Road (Parcel A) was sold for $586.6 million ($1,060 psf ppr) in January 2022.

Leonard Tay, head of research at Knight Frank Singapore notes that all seven residential sites in Lentor- the five that have now been sold and the two still available for sale- could potentially bring about some 3,500 new units to the area. This would translate to almost 11,000 new residents.

“We are envisioning a new high-end residential development with around 533 units, and with 600 sqm of childcare facilities,” say a GuocoLand spokesperson of the Lentor Garden site. “The future development will complement our other two upcoming developments – Lentor Modern and Lentor Hills Residences – in our plans to transform the Lentor Hills estate to be widely known as a premium residential area.”

GuocoLand’s 605-unit Lentor Modern integrated development launched last September and saw 84% of the units sold on launch weekend. According to caveats lodged, the project is 88% sold at an average price of $2,104 psf.

There are a number of existing and upcoming sites around the Lentor area and GuocoLand’s launch of the 598-unit Lentor Hills Residences is expected to be launched soon.

Steven Tan, CEO of OrangeTee & Tie believes that the eventual launch of the 530-unit site at Lentor Gardens could see units priced around $1,950 to $2,050 psf. Potential homebuyers would be drawn to its connectivity to public transport and recreational facilities such as Thomson Nature Park and Yio Chu Kang Stadium and Sports Complex and its proximity to CHIJ St Nicholas Girls’ School.

The site’s downside is that developers may have been deterred by the cloudy economic outlook, along with the risk of additional buyer’s stamp duty if they are unable to sell all units within five years.

Two other GLS sites at Lentor are available for sale under the 1H2023 GLS Programme: one at Lentor Central (475 units) and one at Lentor Gardens (500 units).

Check out the latest listings near Lentor Gardens, Lentor Central, Lentor Hills Residences, Lentor Modern, Lentor MRT station, CHIJ St Nicholas Girls’ School for more details.

GuocoLand’s emergence as a dominant player in the upcoming Lentor Hills estate (Photo: Samuel Isaac Chua/EdgeProp Singapore) is an indication that the area will soon become a premium residential neighbourhood. Developers may be wary of the potential influx of 11,000 residents within the 0.5 sq km area, although the areas excellent connectivity and amenities may outweigh such concerns.…

The Myst Condo Bukit Timah by City Developments Limited

The Myst Condo Bukit Timah by City Developments Limited

The Myst Condo is a fresh development located in the centre of Bukit Panjang and Cashew created by City Developments Limited (CDL Aries), has obtained the rights to two adjacent plots at 798 and 800 Upper Bukit Timah Road in Northwest Singapore’s Tan Chong industrial park. Spanning 16,620 square metres (178,900 square feet), the property is zoned for residential use with a plot ratio of 2.1, making it possible for the developer to build a project of up to 24 storeys in height.

In recent years, the Bukit Timah area has seen a number of initiatives to revitalise the neighbourhood. This includes the Railway Corridor project near The Myst Condo, which will transform existing railway tracks into a vibrant, communal area, as well as the Beauty World rejuvenation scheme that envisions the emergence of a green urban village. Both of these projects will work to bolster connectivity and add more lush public spaces to the area.

The Hazel Park condominium stands tall at 19 floors, and is neighbored by the Tan Chong industrial park. The Myst Condo area is within close proximity to a number of schools, commercial spaces and parks, and is conveniently accessible via public transportation networks, with the Cashew MRT station on Singapore’s Downtown Line a mere seven minutes away, and the former Bukit Timah railway station within a 13 minute walking distance.

By securing the Upper Bukit Timah site, CDL Aries is in a prime position to benefit from the numerous development and renewal initiatives in The Myst Condo region. With such an esteemed and convenient location, CDL can develop a residential project that will be highly appealing to Singaporeans and investors alike.

The Myst Condo’s strategic position enables quick access to other parts of Singapore, as well as the convenience of having multiple facilities within a walking reach. CDL is able to make the most of surrounding green spaces and revitalisation policies to develop a housing project that adds to the neighbourhood’s character and provides occupants with a pleasant living atmosphere.

CDL Aries has identified the potential of the Upper Bukit Timah area as a desirable residential area and are set to take advantage of its various development plans in order to create a highly attractive and sought-after residential project. The purchase of two plots of land for S$126.3 million ($92.5 million) marks a major investment and could be the beginning of a new residential offering in the area. The condo is also close to the Bukit Panjang Plaza Shopping Centre, which serves as an excellent shopping and entertainment destination.

The Myst Condo is a perfect place for those who seek convenience, as it is located conveniently close to the Bukit Panjang Integrated Transport Hub. Residents of this condo will have access to many amenities, such as shopping, entertainment and transport. Furthermore, it is close to the Bukit Panjang Plaza Shopping Centre, an ideal spot for leisurely shopping and entertainment.

Living at The Myst Condo near Bukit Panjang Transport Hub provides the ultimate convenience and flexibility for multigenerational families. Situated close to Bukit Panjang MRT Station, Segar LRT station, and Bukit Panjang Bus Interchange, the condo offers easy access to a wealth of public transportation options, making it easy to reach your desired destination.

Bukit Panjang Integrated Transport Hub is the 9th Integrated Transport Hub in Singapore, with The Myst Condo conveniently located nearby. Additionally, Hillion Mall is within easy reach of this property. Those with young children can take advantage of the proximity of the renowned De La Salle School, as well as a variety of other educational facilities in the area. Moreover, there is a selection of international schools in the vicinity. Hence, this property is well suited for those seeking easy access to all types of educational facilities.

The Myst Condo offers a variety of amenities to its residents, including a swimming pool, gym, clubhouse, playground, and BBQ pits. Situated just 10 minutes from the nearest MRT station, residents can enjoy the convenience of transportation and dining options in the vicinity. Various shopping malls are also nearby, such as Jelapang MRT, Choa Chu Kang MRT, and Yew Tee MRT. What’s more, the developer offers a complimentary shuttle bus service to the Bukit Panjang Downtown MRT.

The Myst Condo offers unbeatable convenience, with Bukit Panjang MRT Station and Hillview MRT Station both within a half-an-hour walk. Additionally, there are a number of nearby bus stops, including Bef Chestnut Avenue, Bukit Panjang Road, and Upper Bukit Timah Road. What’s more, Orchard Road and the Central Business District are accessible with only a 25-minute commute.

The Myst Condo at Bukit Timah Road is a highly sought-after residential complex that provides its residents with lush tropical surroundings and breathtaking views of the nearby greenery and hills. Boasting a tranquil atmosphere, the condominium offers a sanctuary of serenity amidst the hustle and bustle of the city. Residents of the complex can immerse themselves in the beauty of nature, unwind and recharge in the tranquil environment and enjoy the outdoor amenities. From an outdoor pool, to a gymnasium, to a BBQ pit, Myst Condo offers all the necessary amenities to ensure that its residents have a comfortable and luxurious living experience.

The Myst of the forest is renowned for its stunning views, which provide an unobstructed glimpse of the surrounding natural scenery. From the higher floors of the condominium, an amazing view of the Bukit Timah Nature Reserve and its verdant, rolling hills can be enjoyed. Stretching out to the horizon, the sight offers a peaceful and tranquil atmosphere. The green spaces at the complex are spread across multiple levels, with lush foliage and well developed gardens for the residents to enjoy. The Myst CDL is committed to creating a tranquil atmosphere and providing its residents with the highest quality of living. Residents can also take advantage of the 24-hour security and concierge service that is offered. Each apartment also has its own private balcony, allowing its inhabitants to take in the breathtaking views of the forest. With its luxurious and relaxing atmosphere, the Myst CDL is an ideal retreat for those looking for an escape from the hustle and bustle of city life.

The Myst CDL of the forest provides its inhabitants with the perfect blend of luxury and relaxation. Facilities such as a swimming pool, gym, and tennis court all ensure that the residents can take advantage of modern amenities while also enjoying the tranquil atmosphere of the complex. Additionally, a sky garden is available, so that visitors can take in the stunning views of the surrounding nature. Moreover, the green spaces at the complex are well-developed, with lush foliage and gardens, allowing those living there to bask in the serenity of the environment. Offering 24-hour security and concierge services, the Myst CDL is committed to providing the highest quality of living and convenience to its occupants. Each apartment also has its own private balcony, allowing residents to take in the breathtaking views of the forest. With its luxurious and calming ambience, the Myst CDL is the perfect retreat for those seeking to get away from the hustle and bustle of the city. Residents also have access to a wide range of amenities, including swimming pools, a gym, a clubhouse, a tennis court, and a children’s playground.

The Myst of the Forest is an ideal getaway for those seeking a tranquil and tranquilizing escape from the hustle and bustle of everyday life. With its breathtaking views, luxurious amenities, and calming atmosphere, it is the perfect place to take in the beauty of nature. Residents can conveniently access the Bukit Timah Nature Reserve, which is perfect for hikes and nature walks, while they also have access to plenty of facilities such as swimming pools, a gym, a clubhouse, a tennis court, and a children’s playground.

Located in the bustling Bukit Panjang district of Singapore, The Myst Condo is just a short stroll away from the Bukit Panjang Integrated Transport Hub and Hillion Mall. This desirable location allows residents of The Myst Condo to reap the benefits of easy access to public transport and a variety of shops and restaurants located nearby. All these conveniences make The Myst Condo the perfect choice for those seeking a comfortable and convenient place to live.

Residents of The Myst Condo have the convenience of being just a 5-minute walk away from the Bukit Panjang Integrated Transport Hub. The transport hub links up with the Downtown Line and the Bukit Panjang LRT, enabling travellers to explore and commute to various areas around Singapore. As well, there are numerous bus services that depart from the transport hub, making reaching other parts of the island easy and hassle-free. This transport hub is thus the ideal gateway for The Myst Condo residents to enjoy the convenience of travelling around Singapore.

Located in the heart of Bukit Panjang, The Myst Condo is situated just a stone’s throw from Hillion Mall. This buzzing shopping, dining and entertainment destination offers a great selection of retail stores, food establishments and leisure options, including a cinema and a bowling alley, all of which are within easy reach of The Myst Condo. Residents can reach these amenities in just a 5-minute walk.

The Myst Condo is an ideal place for individuals and families to live. Situated in a convenient location, the condominium is close to a variety of amenities, including schools, medical centres, banks, supermarkets, and other essential services. Consequently, residents can easily access what they require. Additionally, the neighbourhood offers a welcoming and friendly atmosphere, making it an ideal location to settle down and make a home.

The Myst CDL at Cashew MRT Station is a modern and luxurious condominium development nestled in the suburbs of Singapore. Featuring an exquisite blend of modern living, luxury amenities, and sustainable designs, this development is a perfect choice for those seeking a green and eco-friendly living space. It is designed with features that promote energy efficiency and help reduce waste, ultimately providing an atmosphere of comfort, convenience, and sustainability for its residents.

The Myst boasts a selection of sustainability-focused landscaping features. Residents can enjoy a tranquil and relaxing escape to nature in the development’s rooftop garden, which offers lush vegetation and respite from the city. Rainwater harvesting systems also feature in the garden, aiding in the conservation of resources and reducing water consumption. In addition, the development incorporates a green roof system which helps to reduce energy consumption. Lastly, the development has implemented a green wall system which helps to create a comfortable micro-environment. All of these sustainable features help to create a harmonious and beautiful environment for the residents.

The Myst Condo Upper Bukit Timah Road has adopted a number of sustainable features as part of its landscaping design. Utilizing native plants and trees, which are naturally resilient to drought and easy to maintain, the development takes a proactive step towards environmental responsibility. Organic fertilizers and composting systems have been incorporated in order to reduce the need for chemical fertilizers. Moreover, a water-efficient irrigation system helps to further reduce water consumption. The development also features a green roof system, which helps to conserve energy, as well as a green wall system which helps to create a comfortable micro-environment. All of these features come together to provide a beautiful and harmonious atmosphere for the residents of the development.

The Myst Condo at Bukit Panjang provides its residents with a luxurious living space that incorporates sustainable features. Residents can enjoy a range of landscaping features such as a rooftop garden, energy-efficient lighting systems, solar panels, native plants and trees, organic fertilizers and composting systems, water-efficient irrigation, and recreational facilities. All of these features come together to make this condominium development a great choice for those looking for a green and eco-friendly living space.
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The West Region is the largest of Singapore’s five regions, spanning 25,500 hectares. Situated at its center is Jurong East, while Jurong West is the most populated town. This area is known for its industrial output, featuring …

Singapore office rents see subdued growth in 1Q2023: JLL

Grade A office rents in Singapore’s CBD rose in the first quarter of 2023, according to data by real estate consultancy JLL. Despite this, the growth was slower than that seen in the previous quarter, as uncertainty surrounding the global economic outlook continues to hamper demand for office space.

Large space users are mostly hesitant when it comes to expansion or relocation plans, while the majority of leasing activity has been driven by small to medium-sized space occupiers with immediate requirements. Examples of such occupiers are German insurer Munich Re, who took two floors at 18 Cross Street for their new office, and Corney & Barrow, who relocated to Hub Synergy Point.

Despite the currently cautious attitude, tight supply of Grade A office space saw some occupiers seize the chance to upgrade to better office spaces at new developments. Prominent examples include Guoco Midtown, which received its Temporary Occupation Permit in January, and the soon-to-be completed IOI Central Boulevard Towers. 45% of its space is already pre-committed or under advanced negotiations.

In addition, Labrador Tower in Pasir Panjang Road, due for completion in 2024, is estimated to be 25% pre-committed one year ahead of its estimated completion. Prudential, with a two-year extension to their tenancy in November 2024, reportedly took 150,000 square feet of space at this Green Mark Platinum Super Low Energy building.

Head of Office Leasing and Advisory Andrew Tangye explains that while leasing activity in 1Q2023 is underwhelming, the current rent growth has presented some opportunities for occupiers. He notes that it is a good window to lock in spaces in good quality new office buildings.

Given the macroeconomic environment, Head of Research and Consultancy Tay Huey Ying anticipates that backfilling of spaces vacated by relocating occupiers could take a bit longer, and that rent growth is likely to remain modest. However, she is optimistic that rental growth will accelerate post 2024, as the economy improves and new completions dip.…

Why Bukit Timah is a Highly Sought After Location to Stay

Bukit Timah is a beautiful and vibrant district located in the central region of Singapore. It is named after the highest hill in the country, which is also located within the district. Bukit Timah is a popular residential area for both locals and expats due to its convenient location, greenery, and excellent schools. Here are some of the highlights of Bukit Timah in 1000 words:

Geography and History:

Bukit Timah is located in the central region of Singapore, bordered by Bukit Batok to the west, Clementi to the south, and Novena to the east. It covers an area of approximately 17.53 square kilometers and is home to a population of around 80,000 people.

The district is named after Bukit Timah Hill, which stands at 163.63 meters and is the highest natural point in Singapore. The hill is located within the Bukit Timah Nature Reserve, which covers an area of 163 hectares and is one of the largest primary forests in Singapore.

Bukit Timah has a rich history, dating back to the early 19th century when it was a thriving trading hub for rubber and gambier. It was also an important area for agriculture, with numerous plantations producing crops such as pepper, nutmeg, and coffee. Today, many of these plantations have been converted into residential estates and commercial developments, but some pockets of greenery remain, reminding visitors of the district’s rich history.


Bukit Timah is well-connected to the rest of Singapore via a variety of transportation options. The district is served by several major roads, including Bukit Timah Road, which connects it to the city center and other parts of the island. Bukit Timah also has two MRT stations – Beauty World and King Albert Park – which are both located on the Downtown Line.

For those who prefer to cycle, Bukit Timah is also home to several park connectors that link the district to other parts of Singapore. These include the Bukit Timah Rail Corridor, which runs along the former railway line and offers a scenic route for cyclists and pedestrians.


Bukit Timah is known for its excellent schools, both local and international. The district is home to several prestigious institutions, including Nanyang Primary School, Methodist Girls’ School, and the Singapore Chinese Girls’ School. These schools have a long history of producing high-achieving students and are among the most sought-after schools in Singapore.

Bukit Timah is also home to several international schools, including the German European School Singapore, the Singapore Korean International School, and the Swiss School in Singapore. These schools offer a world-class education to students from all over the world and are popular with expat families.

Shopping and Dining:

Bukit Timah has a variety of shopping and dining options to suit every taste and budget. For those who enjoy shopping, there are several malls in the district, including Bukit Timah Plaza, Beauty World Centre, and Coronation Shopping Plaza. These malls offer a range of retail options, from high-end boutiques to budget-friendly stores.

Bukit Timah is also known for its vibrant food scene, with numerous restaurants and cafes serving up a variety of cuisines. Some popular food spots in the district include the Bukit Timah Market and Food Centre, which offers a wide range of hawker food, and the Rail Mall, which has several restaurants and cafes housed in old railway carriages.


Bukit Timah is a great place for nature lovers and outdoor enthusiasts. The district is home to several parks and nature reserves, including the Bukit Timah Nature Reserve and the Dairy Farm Nature Park. These parks offer a range of outdoor activities,

including hiking, cycling, and picnicking, and are a great way to escape the hustle and bustle of the city.

The Bukit Timah Nature Reserve is a particularly popular destination, with its lush greenery and diverse wildlife. Visitors can take a leisurely stroll through the forest, hike up Bukit Timah Hill for panoramic views of the city, or go birdwatching to spot some of the reserve’s many species of birds.

For those who prefer to stay indoors, Bukit Timah also has several indoor recreation options. These include the Bukit Timah Community Club, which offers a range of fitness classes and sports facilities, and the The Cage, an indoor soccer and cricket facility.

Real Estate:

Bukit Timah is a popular residential area, with a wide range of housing options to suit every budget and lifestyle. The district is known for its landed properties, which include bungalows, semi-detached houses, and terrace houses. These properties are highly sought-after and often command high prices due to their prime location and spacious living areas.

In addition to landed properties, Bukit Timah also has several condominiums and apartment complexes. These range from luxurious high-rise developments to more affordable mid-rise buildings, and offer a variety of amenities such as swimming pools, gyms, and playgrounds.


Bukit Timah is a vibrant and diverse district that offers something for everyone. From its rich history and natural beauty to its excellent schools and wide range of recreational options, Bukit Timah has something to offer both residents and visitors alike. Whether you’re looking to explore the great outdoors, indulge in some retail therapy, or simply relax and unwind, Bukit Timah is the perfect destination.…