Month: March 2025

The Land Transport Authority (LTA) is currently conducting feasibility studies for two proposed new MRT lines, with a projected completion date in the 2040s. These lines have the potential to benefit more than 400,000 households.

The first line, known as the Seletar Line, will serve multiple areas including Woodlands, Sembawang, Sengkang West, Serangoon North, Whampoa, Kallang, and the Greater Southern Waterfront. The second line, tentatively named the Tengah Line, plans to augment the transport network in the west and northwest regions by serving Tengah, Bukit Batok, Queensway, and Bukit Merah.

According to Transport Minister Chee Hong Tat’s speech in Parliament on March 5, the Seletar Line and Tengah Line could potentially be connected, subject to the results of LTA’s feasibility studies. He also announced that LTA plans to move forward with the West Coast Extension (WCE), which will extend the Jurong Region Line (JRL) to connect with the Circle Line (CCL) and Cross Island Line (CRL).

The WCE will be executed in two phases, with the first phase expected to extend the JRL from Pandan Reservoir Station to connect with the CRL by the late 2030s. The second phase aims to extend the JRL from West Coast Station to connect with the CCL’s Kent Ridge Station by the early 2040s. Upon completion, the WCE will provide residents travelling from the West to the city centre with up to 20 minutes of time savings.

In anticipation of the future development of Singapore’s rail network, Chee announced the government’s plans to invest up to $1 billion over the next five years to maintain high-reliability standards in both newer and older train systems. This investment will go towards condition monitoring systems, new technologies, and workforce training programmes for rail workers, all with the goal of providing efficient and reliable public transport for commuters.

Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art infrastructure. Condominiums, strategically situated in desirable locations, offer a combination of opulence and practicality that entices both locals and foreigners. These properties boast a variety of perks, including luxurious swimming pools, fully equipped gyms, and top-notch security services, elevating the overall living experience and making them a desirable choice for potential renters and buyers. Furthermore, these features also prove to be lucrative for investors, resulting in higher rental returns and appreciating property values over time. Stay updated on the latest developments with the addition of New Condo Launches.…

Purchasing a condominium in Singapore presents a promising opportunity for investors seeking capital appreciation, making it a highly sought-after option. The country’s advantageous placement as a thriving business center, coupled with its stable economic foundation, creates a consistent demand for real estate. Consequently, the property prices have consistently risen over the years, with condos in prime locations experiencing significant increases. With strategic timing and holding onto the property for a considerable duration, shrewd investors can generate substantial profits from capital gains. The undeniable value of condos as a real estate investment in Singapore is evident, making it a wise choice for investors. Condo plays a vital role in this trend, as it offers a convenient and highly desirable form of housing that caters to the demands of both local and foreign buyers.

According to ERA Realty Network, the appointed marketing agent, Elias Green, a 99-year leasehold condo in Pasir Ris, will be up for collective sale through public tender on March 6. The property, which sits on a land area of approximately 516,871 sq ft and has a gross plot ratio of 1.4, has a guide price of $928 million.

Completed in 1994, the condo comprises of several blocks and a total of 419 apartments with sizes ranging from 1,367 to 1,636 sq ft. The site has a remaining lease of 65 years, having been granted a 99-year lease in 1991.

Based on ERA’s estimate, the land rate of $928 million translates to $1,355 psf per plot ratio (ppr). This includes a projected land betterment charge of $150.8 million for intensification and a top-up to a fresh 99-year lease, as well as a 10% bonus gross floor area.

The marketing agent also reports that the owners of Elias Green are in the process of submitting an Outline Application to URA for a residential development at a gross plot ratio of 1.8. If approved, this would bring the land rate to approximately $1,245 psf ppr.

Should the collective sale be successful, owners are expected to receive gross sale proceeds ranging from approximately $2.04 million to $2.31 million per unit, based on the guide price.

Tay Liam Hiap, managing director of capital markets and investment sales at ERA Singapore, points out the ongoing improvements in Pasir Ris Town as part of HDB’s “Remaking Our Heartland” initiative. This will not only enhance the town’s vibrancy, but also improve connectivity, with the expected completion of the new Pasir Ris Bus Interchange in 2025. Furthermore, the upcoming Pasir Ris Integrated Transportation Hub, which includes the Cross Island Line (CRL) expected to be operational by 2030, will further enhance connectivity across Singapore.

This is the second collective sale attempt for Elias Green, with the first being in 2018 when the property was launched for tender at $780 million. The new guide price of $928 million is a 19% increase from the previous asking price.

The tender for Elias Green will close on April 22 at 2pm. For more information and listings for Elias Green properties, interested parties can check out Ask Buddy or explore the latest listings for the most expensive average PSF in District 18, condo rental transactions in District 18, and the most unprofitable landed transactions in the past year. Look out for upcoming new launch projects or browse through the past condo rental transactions to make a more informed decision.…

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The demand for condos in Singapore is at an all-time high, and one of the main reasons for this is the limited availability of land. Being a small island country with a rapidly expanding population, Singapore is facing an acute shortage of land for development. This has resulted in strict land use regulations and an intensely competitive real estate market where property prices are constantly on the rise. Hence, investing in real estate, specifically Singapore Condos, has become a highly profitable venture with the potential for significant capital appreciation.

The recent tender for Media Circle (Parcel A), a Government Land Sale (GLS) site situated in the bustling one-north area, officially closed on March 4. The winning bid of $315 million for the 99-year leasehold plot was submitted by a joint consortium of Qingjian Realty, Forsea Holdings and minority investor Hoovasun Holding.

The site, which has been zoned for residential usage with commercial spaces on the first level, measures 82,125 square feet and boasts a potential gross floor area of 303,865 square feet. This could potentially accommodate around 325 housing units, with an impressive bid of $1,037 per square foot per plot ratio (ppr).

In a statement released to the press, Qingjian and Forsea announced their plans to develop two high-rise residential towers with commercial spaces on level 1.

Despite a total of three bids being submitted for the site, the consortium’s offer was 5.7% higher compared to the next highest bid of $298 million, submitted by EL Development. The lowest bid of $295 million was put forward by SingHaiyi Group.

However, the winning bid was lower than the land rate paid by the same partners for the neighboring Media Circle GLS plot, now home to the highly anticipated 358-unit Bloomsbury Residences. Qingjian and Forsea secured the 114,462 square feet site for $395.28 million, at a rate of $1,191 per square foot per plot ratio, back in January 2023.

Du Dexiang, Managing Director of Qingjian Realty, expressed confidence in the transformation of Media Circle, citing the well-designed master plan and the government’s ongoing investment in the one-north precinct, as announced in the 2025 budget. Wang Xin, Director at Forsea Holdings, added that this project represents a significant step in their commitment to developing high-quality residential communities that align with the growth of one-north, often referred to as Singapore’s “Silicon Valley”.

This project marks the third joint venture between Qingjian and Forsea, with the partners having previously secured an executive condominium site at Jalan Loyang Besar with a top bid of $557 million ($729 per square foot per plot ratio) last August. This development could potentially accommodate up to 710 new homes.

Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia, noted that Qingjian’s bid for Media Circle (Parcel A) reflects their confidence in the demand for homes in the area. If successful, the developer will hold considerable influence over the supply and pricing of new homes in Media Circle.

The Media Circle (Parcel A) site was launched for sale in November last year, alongside Media Circle (Parcel B) – an adjacent plot measuring 107,936 square feet with the potential for approximately 500 residences. The tender for Parcel B will close on April 29. Both Media Circle Parcels A and B are on the Confirmed List of the 2H2024 GLS Programme.

Additionally, an available Media Circle site for application has been placed on the Reserve List of the 1H2025 GLS Programme. This 60-year leasehold plot has been designated for residential and commercial use on the first storey, with a focus on long-stay serviced apartments. It is estimated to house 520 units and retail space of 4,306 square feet.

Lee from Huttons Asia noted that Media Circle is a unique location within one-north, with lush greenery and black and white bungalows making for a charming setting. He added that there are only two areas with land allocated for homes within the one-north area – Slim Barracks Rise and Media Circle – with fewer than 100 new homes remaining unsold in non-landed residential properties in the vicinity.

Given the high number of foreigners working in one-north, Science Park, and the nearby Tanglin Trust School, Lee believes this location presents an excellent pool of quality tenants. Furthermore, it offers convenient access to a diverse range of retail and dining options such as Anchorpoint Shopping Centre, Alexandra Central Mall, and Timbre+ One North.

Leonard Tay, Head of Research at Knight Frank Singapore, predicted that the future development at Media Circle (Parcel A) could see selling prices starting at $2,300 per square foot. While the site is located in a quieter section of one-north business park, it is within walking distance to Mediapolis, making it an ideal location for a residential project or a mix of residences for sale with serviced apartments for lease. This could particularly appeal to workers in the media and entertainment industry.…

Hotel Properties Limited (HPL) is taking its global presence to new heights through the recent acquisition of InterContinental Auckland, for a whopping NZ$180 million ($138.5 million). This will be the first property in New Zealand for the group and its second InterContinental hotel, following the InterContinental Maldives Maamunagau Resort.

According to JLL’s Asia Pacific Hotels & Hospitality Group, who advised on the sale by Precinct Properties in New Zealand, this off-market transaction is the largest single hotel sale ever in the country. HPL’s move towards Auckland comes on the heels of its successful launches, The Boathouse Tioman in Malaysia, featuring 31 bungalows, and The Four Seasons Hotel Osaka in Japan, which boasts 176 rooms, last year.

HPL has set its sights on expanding its luxury hospitality portfolio across key markets in the Asia Pacific region, bolstered by its skilled hospitality management team and strong partnerships with operators like IHG Hotels & Resorts.

“The proposed acquisition of InterContinental Auckland presents a rare opportunity for us to acquire our first premium asset in New Zealand,” shares HPL Hotels and Resorts Chairman Stephen Lau. The property offers seamless connectivity to the NZ$1 billion Commercial Bay lifestyle precinct, which officially opened in January 2024. Guests at the hotel can enjoy breathtaking views of the Waitematā Harbour, adds Lau.

Ultimately, purchasing a condo in Singapore boasts a multitude of advantages. These include a high demand for the properties, the potential for significant capital appreciation, and appealing rental yields. However, it is crucial to carefully assess various factors before making a decision, such as the location, financing options, government regulations, and the current market conditions. By conducting thorough research and seeking professional guidance, investors can make educated choices and maximize their returns in the ever-evolving real estate market of Singapore. Whether you are a local looking to expand your investment portfolio or a foreign buyer in search of a stable and profitable venture, Singapore’s condos present an enticing opportunity that should not be overlooked.

While the existing hotel boasts 139 rooms, there is potential for expansion up to 190 rooms by utilizing the current office space to cater to future demand.…

According to research by Colliers, institutional investments in Asia Pacific (Apac) real estate reached a total of US$83.2 billion ($112 billion) in the second half of 2024, showing a 6% year-on-year increase. This brings the full-year investments for 2024 to US$155.9 billion, representing a 12% year-on-year climb. The research includes data from the top nine markets in the region, namely Australia, Mainland China, Hong Kong, India, Japan, Singapore, South Korea, New Zealand, and Taiwan.

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When it comes to investing in the Singapore real estate market, foreign investors must familiarize themselves with the regulations and limitations surrounding property ownership. While purchasing condos is generally permitted for foreigners, ownership of landed properties is subject to stricter rules. However, foreign buyers are required to pay an Additional Buyer’s Stamp Duty (ABSD) of 20% for their first property purchase. Despite this added expense, the stability and potential for growth in the Singapore real estate market make it a popular choice for foreign investment. In fact, many foreign investors are drawn to purchasing Singapore Condos due to their attractive features and benefits.

Chris Pilgrim, managing director of global capital markets for Asia Pacific at Colliers, states that the rise in investments demonstrates the resilience of the Apac real estate market and sets the stage for a strong 2025. He also adds that domestic investors have been the main drivers of growth in key markets such as South Korea, Taiwan, and New Zealand, contributing to over 80% of real estate inflows in the second half of 2024.

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The office sector was the largest contributor to the overall investment volume in Apac, accounting for US$26.5 billion (32%) in the second half of 2024. For the whole of 2024, office investments totaled US$51.4 billion, showing a 14% year-on-year increase. The industrial and logistics sector was the second biggest contributor, attracting US$22.6 billion in investments (27% of the total) in the second half of 2024. For the entire year, investments in this sector reached US$39.4 billion, rising 29% year-on-year.

In the retail sector, there was a significant rebound, with investments reaching US$15 billion in the second half of 2024, driven by notable deals in Australia and South Korea. Total investments in retail for the year came in at US$26.1 billion, representing a 27% year-on-year climb. Pilgrim believes that domestic capital will continue to dominate most markets in 2025, while offshore investments are expected to increase, fueled by improving investor confidence and attractive valuations.

Although the office and industrial segments are expected to maintain strong performance, Pilgrim also sees potential in the retail, hospitality, and alternative asset classes as investors take advantage of the recovery momentum and evolving consumer trends. He concludes by stating, “With the continuing growth of the economy and support from policies, the real estate market in Apac is poised for sustained investment activity in 2025.”…

for $401.7 mil

When it comes to investing in condos in Singapore, one must also consider the impact of the government’s property cooling measures. Over the years, the Singaporean government has implemented various measures to prevent speculative buying and maintain a steady real estate market. These measures, such as the Additional Buyer’s Stamp Duty (ABSD), result in higher taxes for foreign buyers and those purchasing multiple properties. While these measures may initially affect the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, making it a more secure investment environment. Additionally, the availability of new condo launches further adds to the potential for profitable investments in the Singapore condo market.

CapitaLand Investment Limited (CLI) is proud to announce that our Group CEO, Lee Chee Koon, has been recognized as the ‘Industry Figure of the Year’ for the Asia Pacific region at the prestigious PERE Global Awards 2024. This annual ceremony, hosted by a renowned London-based publication that covers private equity real estate markets, celebrates the most influential firms, individuals, and standout deals of the past year. In addition, CLI was also awarded the runner-up position for ‘Firm of the Year’ in the Asia Pacific region.

The winners of this highly coveted award were chosen by a panel of PERE journalists, a departure from previous editions where readers voted on shortlisted submissions. This recognition adds to CLI’s list of accolades and further affirms our industry-leading position.

In a press release on March 4th, 2024, CLI stated that the award was a testament to CEO Lee’s role in driving CLI’s transformational growth and his significant impact on the private real estate industry in the Asia Pacific region. Since taking on the role of CapitaLand’s Group CEO in September 2018, Lee has made significant strides in steering the company’s growth and expansion. This includes the acquisition of Ascendas-Singbridge in 2019 and the 2021 restructuring of CapitaLand Group, which resulted in the listing of CLI and the privatisation of its real estate development arm, CapitaLand Development.

Notably, in 2024, CLI also invested in real estate investment manager SC Capital Partners Group and acquired Wingate Group Holdings’ property and corporate credit investment management business. With these moves, CLI is on track to manage $200 billion in funds by 2028. This achievement further solidifies our position as a top player in the real estate industry.

We are honoured to receive this recognition and would like to extend our appreciation to the panel of judges at PERE for acknowledging CLI’s contribution to the Asia Pacific real estate sector. We remain committed to delivering value to our stakeholders and will continue to pursue opportunities for growth and expansion.…

SC Capital Partners Group, a private equity real estate firm based in Singapore, announced on March 3 that it has successfully sold its student accommodation asset in Sydney, Australia. The property, situated on Anzac Parade and Lorne Avenue in the suburb of Kensington, was sold at a substantial premium compared to its acquisition price and current book value. The buyer of the asset is the University of New South Wales (UNSW), one of the top universities in Sydney.

In Singapore, location plays a crucial role in real estate investment, particularly when it comes to purchasing condos. Proximity to central areas and important amenities like schools, shopping centers, and public transportation hubs greatly impacts the value of these properties. It’s no surprise that prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently shown an increase in property values over time. Families looking to invest in condos are drawn to these areas because of their close proximity to top-performing schools and educational institutions, making them highly sought after and further boosting their potential for investment. With the introduction of new condo launches, investors now have even more options to consider when selecting a desirable location for their real estate investments. These new launches allow them to invest in upcoming prime areas, emphasizing the significance of location when making real estate investment decisions. It’s worth noting that new condo launches only add to the already competitive landscape of real estate investment in Singapore.

According to the press release, SC Capital Partners originally purchased the property in 2016. At that time, the reported purchase price was A$57 million. However, the recent sale has fetched a significant premium, indicating the successful management and value-enhancing efforts of the firm. This also marks a 19% premium to the current book value of the asset.

The purpose-built student accommodation, spanning 85,035 square feet, boasts 233 beds and a ground-floor commercial podium. Its prime location within 600m of the UNSW Kensington Campus makes it a highly desirable property for students. At present, the student accommodation is fully leased to UNSW, with a fresh 20-year master lease signed in 2019.

The sale of this asset highlights the increasing competition in the Australian real estate market, particularly in the student accommodation sector. The current transaction has also raised the firm’s assets under management (AUM) to a staggering $113 billion, further solidifying its position as a key player in the market.…

The shares of City Developments, currently embroiled in a tense internal conflict that has escalated to the courts, experienced a significant drop of 28 cents, or 5.47%, upon resuming trading today.

The trading of the company’s shares had been halted since February 26, when a last-minute decision to cancel a results briefing was made. Within hours, the Singapore business community was shaken by news of a dispute between the company’s executive chairman Kwek Leng Beng and his son, group CEO Sherman Kwek.

“Shareholders should be aware that various news reports have surfaced regarding the disagreement within the board. The company will not comment on the validity of these allegations as they are currently subject to ongoing court proceedings related to an application,” said City Developments on March 3.

The company further clarified that its business operations remain unaffected and fully functional. Sherman Kwek also remains the group CEO until a resolution is reached by the board to change company leadership.

In light of the ongoing family feud, analysts have downgraded their recommendations and lowered their target prices for City Developments. Adrian Loh from UOB Kay Hian downgraded the stock from “buy” to “hold” in a note on February 27, citing the company’s FY2024 figures which missed both his and consensus estimates.

“However, this has been overshadowed by news of the public leadership tussle. We believe that while City Developments has valuable assets both in Singapore and globally, the stock will have a difficult time performing due to this issue,” said Loh. He revised his target price from $7 to $4.60, based on a 2 standard deviations below the company’s five-year average P/B ratio of 0.72 times.

Derek Tan and Tabitha Foo from DBS Group Research, on the other hand, believe that City Developments still has potential. “While this may dampen investor sentiment in the short-term, we believe that the fundamentals of the company remain strong, as key management continues to run the company,” they said. They also noted that the stock is currently trading at an attractive valuation of 0.5 times P/B and 0.3 times P/RNAV, lower than its lows during the Global Financial Crisis. DBS Group Research maintains its “buy” rating but has lowered its target price from $10.50 to $6.70.

Similarly, OCBC Investment Research has kept its “buy” call but has reduced its fair value from $6.57 to $6.02, taking into account the wider RNAV discount of 60% from 45% previously. “We expect uncertainties regarding City Developments’ outlook and a potential share price overhang until the matter is resolved,” said OCBC.

Citi Research’s Brandon Lee also sees some short-term impact on the company’s share price, due to shareholder uncertainty and the length of the potential court case. However, Lee believes that City Developments is currently under-owned, which could lead to a significant stock price catalyst in the long-term. With a “buy” call and a target price of $9.51, Lee highlights how the company is trading at less than one-third of its book value.

JP Morgan analysts Mervin Song and Terence M Khi describe the internal conflict at City Developments as a “dynastic discord” that has been brewing for years due to frustration, underperformance, and disagreements among members of the Kwek family. Despite this, the analysts hope for a positive resolution and family reconciliation. They have, however, reduced their target price from $6.05 to $4.85, based on a 60% discount to their RNAV estimate of $12.10 per share.

It is essential for foreign investors to have a clear understanding of the regulations and limitations surrounding property ownership in Singapore. While purchasing condos may be relatively easy for foreigners, the same cannot be said for landed properties, as they are subject to stricter ownership rules. Additionally, foreign buyers are required to pay a 20% Additional Buyer’s Stamp Duty (ABSD) for their initial property purchase. Despite this added cost, the Singapore real estate market continues to offer unwavering stability and promising growth potential, making it a highly attractive option for foreign investment. Those interested in investing in the lucrative Singapore Condo market can explore their options with Singapore Condo.…

To sum it up, opting to invest in a condo in Singapore brings forth a myriad of benefits, including its high demand, potential for increase in value, and attractive rental returns. Nevertheless, it is crucial to carefully evaluate key aspects such as location, financing options, government regulations, and market conditions. Through thorough research and seeking guidance from experts, investors can make well-informed decisions and maximize their profits in the dynamic real estate market of Singapore. Whether you are a local looking to expand your investment portfolio or a foreign buyer seeking a stable and lucrative opportunity, Singapore’s condo market offers a compelling option. For more information on Singapore projects, please visit .

Perpetual (Asia) Limited, the trustee of Elite UK REIT, has sold Crown Buildings in Caerphilly, Wales for GBP710,000 ($1.2 million).The sale price represents an 18% premium as the property was valued at GBP600,000 at the end of 2024, according to an independent valuation by CBRE. At the end of 2023, the property was valued at GBP530,000. The net proceeds from the sale will be used to repay Elite UK REIT’s outstanding borrowings.Crown Buildings, Caerphilly, located in Wales, has 20,712 square feet of gross floor area, according to Elite UK REIT’s website. In January 2024, the company successfully completed a GBP28 million preferential offering, which reduced its leverage ratio from 50.0% at the end of 2023 to 43.4% at the end of 2024. Its net gearing ratio also declined from 47.5% to 42.5% during the same period. The company has no debt maturing in 2025 or 2026, and it is not due for refinancing until 2027.…