The Tanah Merah/Bedok area in District 16 is positioned to capitalise on the many urban transformation plans in the eastern region of Singapore. New residential plans in the Bayshore area along the East Coast, as well as a new residential town to replace the Paya Lebar Airbase in the future, make the popular District 16 a great draw for locals and foreigners alike.

EdgeProp Singapore’s CEO Bernard Tong, speaking at the EdgeProp Master Plan Masterclass webinar on April 29th, talked about the housing options in District 16 and the various MRT connectivity options available in the area.

The District is split into two by two existing MRT lines — Downtown with Bedok North and Bedok Reservoir stations, and the East West Line with Bedok and Tanah Merah stops.

Bedok MRT Station is part of the Bedok Integrated Transport Hub. Here, commuters can benefit from a mall, residences, and an air-conditioned …

Tuan Sing Holdings opened the marketing gallery of its opulent mixed-use development, Opus Bay, on May 4 in Batam, Indonesia. At an expansive 125 ha (13.46 million sq ft), Opus Bay is Tuan Sing’s largest integrated, mixed-use township project in Indonesia, bigger in size than Singapore’s Sentosa Cove. The entire project is being developed in phases.

Phase one involves two residential developments, Balmoral Tower and Cluny Villas. Balmoral Tower is a 36-storey apartment complex with 559 seafront-view apartments, and is designed by acclaimed Singapore-based architectural firm, RT+Q. Structural works for Cluny Villas have already been completed, featuring 275 luxurious villas designed by another Singapore-based firm, Ong & Ong. These resort-style villas are expected to be finished by 4Q2023 and 4Q2025 for Balmoral Tower respectively.

Opus Bay has been designed as a vibrant live-work-play destination, surrounded by lush greenery and the sea. It is conveniently located right next to the Waterfront …

Spanning over 17,000 sq ft with five blocks, the Altura EC will provide future residents with ample greenspaces, swimming pools, and exercise corners. These, together with the impressive internal design, all contribute to the elegant and luxurious lifestyle provided. Residents can look forward to luxury and comfort, as the condo provides all the amenities required for a calm, peaceful, and secure home.

Minor Hotels, a Bangkok-headquartered international hotel owner, operator, and investor, is looking to capture the attention of “millennial-minded travellers” as it expands its presence into Europe and beyond. As part of this expansion, five new Avani Hotels & Resorts hotels will be opening in the next two years across Europe and Latin America, as well as further hotel openings in the next year.

Avani already has a hotel in Portugal, and the new locations to open within Europe include Spain, Germany, and two hotels in Italy. The fifth …

Located near Tengah Town and Jurong Innovation District, Altura EC Bukit Batok Altura EC is a 99-year leasehold development with 375 executive condo units. Its highest bid of $266 million was submitted jointly by Qingjian Realty and Santarli Construction.

Fit-out costs across Asia Pacific have increased substantially in recent years, meaning major occupiers are absorbing the cost to improve return-to-office rates. Grant Carter, head of project & development services Singapore at Cushman & Wakefield, affirms that cost remains a high priority for many occupiers.

In light of this trend, occupiers are attempting to understand the implications of flexible working practises and new fit-out designs. The aim is to provide both collaborative and individual-focused workspaces that promote innovation and employee satisfaction. To do this, best-in-class fit-outs must consider several key factors, including workplace strategy and change implementation, technology, sustainability, and ESG factors.

Singapore has the most expensive fit-out costs in Southeast …

Minor Hotels, an international hotel owner, operator, and investor headquartered in Bangkok, is expanding into Europe and targeting Millennial-minded travellers through its lifestyle brand Avani Hotels & Resorts. Its latest move involve the opening of five new hotels in Europe over the next two years, followed by plans to extend into Central and South America. The brand will also have a presence in Portugal.

Avani will begin its European expansion with the launch of the 101-room Avani Alonso Martinez Madrid Hotel in Spain. Italy will welcome the 65-room Avani Palazzo Moscova Milan Hotel and the 144-room Avani Rio Novo Venice Hotel. Later in the year, Germany will open the 256-room Avani Frankfurt City Hotel. In 2Q2024, the 163-room Avani Museum Quarter Amsterdam Hotel in the Netherlands will open.

In the near future, Avani plans to extend its footprint to Central and South America with hotels in Mexico and Colombia. Scheduled …

A transaction at The Marbella, located on Mount Sinai Rise in District 10, marked the most profitable condo resale of the week. On April 24, a 1,475 sq ft apartment on the 19th floor was sold for $3.5 million ($2,373 psf). It had originally been purchased from the developer in March 2004 for $1.03 million ($698 psf); this resulted in a gain of $2.47 million across a holding period of over 19 years.

The second-most profitable transaction for the week was at the Trevose, a condo on Trevose Crescent located near Dunearn Road and Whitley Road in District 11. A four-bedder measuring 1765 sq ft on the second floor was sold for $3.1 million ($1,756 psf) on April 20 after it had been purchased in February 2004 for $1.03 million ($583 psf). This netting the seller a profit of $2.07 million after a holding period of more than 19 years.…

Hines, a global real estate investment, development and property manager, announced in May that it has acquired five multi-family properties in Japan across Tokyo and Kyoto, spanning a total of 100,107 sq ft and comprising of 290 units. This acquisition, made by Hines Asia Property Partners (HAPP), the firm’s flagship commingled Asia Pacific core-plus fund takes the total number of multi-family rental assets in its portfolio to 16.

HAPP’s “living aggregation strategy” seeks to scale up by US$1 billion ($1.33 billion) of asset value through the strategy in three to five years. The newly acquired properties are managed under the firm’s Cavana brand and target urban dwellers in major Japanese cities.

Chiang Ling Ng, Chief Investment Officer, Asia at Hines asserts that the multi-family rental sector in Japan is a resilient and non-discretionary one, which should be positive in an inflationary cycle, and could generate positive leveraged yields. This should …

The sale of a freehold landed development comprising 21 units of three-storey strata terrace houses is now up for grabs at a guide price of $145 million. Group division directors at ERA Realty, Jeremy Rikas and Allen Loo, are handling the marketing of this property. It can be found at 7 to 47 Asimont Lane, off Barker Road in the District 11 area. The site spans over a 43,125 sq ft freehold area, which is zoned for residential use within the designated landed housing area.

The houses were completed in 2015 and have a total strata floor area of approximately 111,644 sq ft, including void and PES (private enclosed space). The site is also conveniently surrounded by two main roads –Asimont Lane and Barker Road.

According to ERA, the site could be redeveloped into 19 luxury terraced houses, four detached houses, eight semi-detached houses, or eight detached houses. Rikas and …

Hong Kong and Singapore remain perennial rivals as business hubs, with the overall edge going to Hong Kong. The latter scored favourably on factors such as its financial prowess and talent pool, while Singapore trumped it on the scale of its technology industry and green building initiatives. Hong Kong and Singapore were neck-and-neck when it came to their influence in the Asia-Pacific and office rents and prices.

HDB is auctioning Altura EC, a 375-unit executive condominium in Bukit Batok Town with a 99-year lease. Bids must be received by 8 Mar 2022. Property assessment to follow Altura EC for successful bidder.

Hong Kong possesses an edge over Singapore as a business hub, according to a study released by property consultancy CBRE on Tuesday. Factors such as Hong Kong’s financial prowess, talent pool and availability of office space give it the overall advantage, while Singapore still has an advantage when it …

Jervois Prive, a 43-unit boutique development in District 10 hit a new psf-price high when a 1,109 sq ft, three-bedroom unit on the fifth floor sold for $3.57 million ($3,220psf) on April 17. This was the highest psf-price among condos for the week of April 14 to 21, and higher than the previous record for Jervois Prive. The developer’s sale data for the project records a total of six units sold since the launch in May 2019. Botanic Gardens View, a 144-unit freehold development off Cluny Road in prime District 10, also saw a record-breaking transaction, with a 1,259 sq ft unit on the sixth floor fetching $3.68 million ($2,922 psf) on April 20. This exceeded the previous highest psf-price of $2,521 psf for a 1,615 sq ft unit on the first floor, sold on Aug 5, 2019.

The Atelier, on the other hand, recorded the lowest psf-price for the …