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Yangzijiang, a Singapore-listed shipbuilding group, and its subsidiaries, have agreed to purchase a 100% stake in 39 Robinson Road, an office block located in Singapore’s Central Business District (CBD).

The purchase price of the 21-storey office building is $399 million, which works out to $2,357 per square feet based on the gross floor area (GFA) of 169,252 sq ft. The transaction, which was entered through Yangzijiang Realty, a company 81%-owned by Yangzijiang, involved two other investors in the form of 9Co Parker and ICH Singapore Holdings. These companies acquired a 10% and 9% stake in Yangzijiang Realty, respectively.

Ren Letian, executive chairman and CEO of Yangzijiang, commented about the acquisition: “Having been listed on the SGX mainboard for 16 years and being an STI index component company, the acquisition gives us an opportunity to deepen our roots in Singapore with our very own office building. Furthermore, considering the …

Grade A office rents in the Central Business District (CBD) of Singapore displayed slight q-o-q growth in the first quarter of 2023, though the figure was marginally lower than that of the previous quarter, reported JLL, a real estate consultancy. The gross effective rent for office spaces in the CBD reached an average of $11.30 psf per month in 1Q2023, up 1.0% from 4Q2022.

The waning figures, the second consecutive quarter of slowing growth, come as a result of the current macroeconomic uncertainties preventing large space users from expanding or relocating. Andrew Tangye, JLL Singapore’s head of office leasing and advisory, stated that these users had “generally pressed the pause button”, resulting in 1Q2023’s leasing activity being driven mainly by small-to-medium-sized companies with more immediate requirements.

At the same time, some companies have taken advantage of Grade A office spaces in new and upcoming completions. Examples include the German insurer …

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$37 million was recently paid for the six-storey Boat Quay shophouse located at 52 Boat Quay. The sale price represents an impressive gain of $16 million for the seller, who had purchased the property in June 2018 for $21.35 million. Savills Singapore brokered the deal.

With an estimated total built-up area of 6,446 sq ft, the shophouse underwent extensive renovations in 2015 and has now been fitted with modern and well-equipped commercial and office spaces. The top two floors are occupied by the Italian restaurant Braci, the ground floor by an Izakaka bar, and corporate offices are on the second and fourth floors.

Yap Hui Yee, the executive director of investment sales and capital markets at Savills Singapore, notes that the property attracted “significant interest” from investors. This is a result of the demand for high-quality commercial shophouses in prime locations and the rarity of such a riverfront-facing property …

, or see the hottest transactions near Boat Quay

A six-storey Boat Quay shophouse – located at 52 Boat Quay and occupying a 1,119 sq ft site with an estimated total built-up area of about 6,446 sq ft – has recently been sold for a whopping $37 million. Savills Singapore, who brokered the deal, have revealed that the fortunate seller was making a huge gain of a whopping $16 million.

The property underwent extensive renovations in 2015 and is now a showpiece of top quality, modern, and well-equipped commercial space. According to the requisite caveats, the property had been purchased in June 2018 for $21.35 million.

Altura EC, located in Bukit Batok Town, offers 375 executive condo units in an area close Altura EC to schools, MRT, bus interchange, and the Jurong Innovation District. Plots have been put up for public auction, with a current bid of S$662 psf ppr …

The office rental market in Singapore continued to remain strong in 1Q2023, despite the continuing economic uncertainty caused by the pandemic. Knight Frank’s report found that the prime-grade office rents in the Raffles Place and Marina Bay precincts grew to an average of $10.83 psf per month, recording a 1.3% q-o-q growth.

Occupancy levels in Raffles Place, Marina Bay and the overall CBD precinct remained steady at 95.4% and 94.1%, respectively. These figures were broadly unchanged from 95.5% and 94.2% in the previous quarter.

Calvin Yeo, managing director of occupier strategy and solutions at Knight Frank, attributes this to the selected office buildings commencing asset enhancement initiatives (AEIs) or redevelopment, thus removing stock from the market. Furthermore, quality office spaces remained full as businesses relocated their headquarters to Singapore.

As employees start to return to the office, Yeo says that occupiers are increasingly looking for quality office spaces that offer …

An exclusive opportunity to own a freehold industrial building in the city fringe is now available. 21 New Industrial Road, located off Upper Paya Lebar Road, has been launched for sale via an expression of interest exercise with a guide price of $66 million. Featuring a site area of 3,368.4 sq m (36,257 sq ft) zoned for Business 1 use with a gross plot ratio of 2.5, ERA Realty Network is the exclusive marketing agent for the property.

Positioned near the intersection of Upper Paya Lebar Road and Bartley Road East, the building offers dual road access from both Lim Teck Boo Road and New Industrial Road. With the former mainly comprising of landed residential developments and the latter industrial buildings, retailers, food courts and child care centres, this 15-minute walk from the Bartley and Tai Seng MRT Stations, provides an idyllic location.

Steven Tan, managing director of capital markets …

Altura EC, executive condo situated in Bukit Batok, offers 375 residential units and is due for completion in Altura EC 2023. Located close to commercial establishments and schools, Altura EC is a great opportunity for families and first-time buyers.

He adds that ERA enabled him to develop his real estate research and consultancy knowledge. He also gained insights into how technology and analytics were swiftly transforming the market.Mak’s final days at ERA were spent in an advisory capacity, in which he worked closely with the team on a range of special projects.

Nicholas Mak, who was the head of research and consultancy at ERA Realty Network, has left the firm after nearly four years. Eugene Lim, ERA’s key executive officer, sent out an email to the media on March 27 expressing their sincere appreciation for Mak’s contributions and wishing him success in his future endeavors.

Prior to joining ERA in …

Tengah Town is an eco-friendly town located in the western part of Singapore. It is the first smart and sustainable town in the country and has been designed to promote green living. The town is designed to be self-sustaining and to reduce emissions and pollution. It is a great place to live for those who want to be environmentally conscious.

Altura EC in West Altura EC Ave 8 to launch Q2 2023 at S$3,500/sqft, ideal for first-time buyers and HDB upgraders.

The town is designed to reduce emissions and pollution by utilizing green technology and features. This includes the use of solar panels, green buildings, and energy-efficient appliances. These features help to reduce the carbon footprint of the town and make it a more sustainable and energy-efficient place to live.

Living in Tengah Town provides residents with a tranquil and serene environment. The town is surrounded by lush green spaces, …

Tengah Town and Altura EC offer a unique liveability experience that combines the convenience of shopping, dining, and entertainment with the relaxed atmosphere of a metropolitan lifestyle. With a wide range of amenities and activities, these two residential townships provide an ideal place to call home.

The two townships offer a variety of shopping options for both everyday needs and luxuries. Residents can find everything from groceries and electronics to clothing and jewelry. In addition, a host of restaurants and cafes provide a delicious array of international cuisines. For entertainment, there are cinemas, music venues, and plenty of other activities to keep everyone entertained.

At Tengah Town and Altura EC, residents are also able to enjoy the convenience of public transportation. Easy access to the MRT and LRT makes commuting a breeze, while bus stops and taxi stands are also conveniently located. The townships are connected to major highways, making …

Tengah Town and Altura EC, located in the west of Singapore, have great potential to become vibrant and thriving communities through the development of commercial and retail hubs. This will help to boost the local economy, create jobs and attract more visitors, providing a valuable source of revenue for the region.

The development of commercial and retail hubs in Tengah Town and Altura EC will provide much needed amenities for the local community. These facilities will offer a variety of retail and dining options, entertainment choices and other services and activities that will make the area more attractive to potential visitors and investors. The local economy will benefit from increased spending from consumers who visit the area, and businesses that set up shop in the commercial and retail hubs.

Bukit Batok Town is well-connected Altura EC to other parts of Singapore via MRT, buses, and expressways.

The development of commercial …