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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

The Downtown Line is a rapid transit line in Singapore that spans across 42.2 kilometers and has 34 stations. It is one of the six MRT lines in Singapore, operated by the Land Transport Authority (LTA) and is colored blue on the rail map. The Downtown Line serves the central and eastern parts of Singapore, connecting residents and commuters to various commercial, residential, and industrial areas.

The Downtown Line started operation on 22 December 2013, with the opening of the first phase of the line. This phase consisted of six stations, including Bugis, Promenade, and Chinatown. The second phase, which opened on 27 December 2015, added 12 more stations, extending the line to the north and northeast of Singapore. The third and final phase, which opened on 21 October 2017, added another 16 stations to the line, including the highly anticipated Downtown Line 3 Extension, which connects the eastern part …