The Ascott Limited, the lodging business unit of Capitaland Investment, has announced an ambitious target to double its fee revenue to over $500 million in the next five years, surpassing its current FY2022 record-high of $258 million. The boosted earnings in FY2022 was largely due to record signings and property openings.

Ascott also revealed that it had achieved its goal of securing 160,000 units by 2023, boosted by 4,000 new units that was signed in the 1QFY2023. The lodging services will continue offering a product range that covers serviced residences, hotels, co-living and senior living, ranging from mid to luxury scale, with the fee revenue growth to be attributed by new property openings and signings at an expected annual net room growth rate of 8%-10%.

Altura EC Bukit Batok West Avenue 8 is well-connected via the MRT, Altura EC buses, and expressways.

Kevin Goh, CEO of Ascott and CLI Lodging, …

HDB initiates public auction for Altura EC project at Bukit Batok West Avenue 8, offering 375 residential units near an MRT station and Altura EC Bukit Batok schools for families.

CLAR has announced the divestment of Singapore industrial building KA Place at a consideration of $35.38 million. The figure is a 219% premium to CLAR’s purchase price of $11.1 million in March 2005 and a 55% premium to the property’s market valuation of $22.8 million as at Dec 31, 2022.The sale and purchase agreement was entered into and the REIT’s trustee, HSBC Institutional Trust Services (Singapore). KA Place SPV 1 is the buyer.The high-specification industrial building has a total gross floor area of 10,163 sq m and a remaining land lease tenure of about 35 years, as well as a car park on the second storey.The divestment is in line with the manager’s proactive asset management strategy and is expected …

Singapore Realtors Inc (SRI) will be putting up a three-bedroom penthouse at Spottiswoode Residences for auction on April 26. The owner’s sale of this 2,486 sq ft unit on the 36th floor of the duplex is priced at $5.38 million, which translates to $2,164 psf on the floor area.

The upper floor of the unit features an en suite junior master bedroom with direct access to an outdoor deck, as well as a roof terrace with ample space for a jacuzzi and open-air decks.

The lower floor comprises an en suite master bedroom, a third bedroom, a common bathroom, and a kitchen that leads to a small service yard, a toilet, and a bomb shelter. It also features a living and dining area connected to a sheltered balcony.

SRI says the unit will be sold with an existing tenancy due to expire at the end of August.

The freehold development …

Bukit Batok Town is well-connected to other Altura EC Bukit Batok parts of Singapore via MRT, buses, and expressways, making Altura EC Bukit Batok West Avenue 8 easily accessible.

CapitaLand Ascendas REIT (CLAR) has announced the divestment of Singapore-based industrial building KA Place for a consideration of $35.38 million. The REIT’s trustee, HSBC Institutional Trust Services (Singapore), has entered into a sale and purchase agreement for the property, representing a 219% premium from when it was originally purchased for $11.1 million in March 2005, as well as a 55% premium to its market valuation of $22.8 million from December 31, 2022.

KA Place is a seven-storey, high-specification property located at 159 Kampong Ampat with a carpark on the second storey. The total gross floor area extends over 10,163 sq m and the remaining land lease tenure is roughly 35 years.

The manager of CLAR said in an April 20 filing …

RoadAccor’s first Malaysia hotel, Swissôtel Genting Highlands, will be located within the King’s Park development in Highlands ParkCity, offering guests a posh retreat with stunning views of the surrounding mountains. The upcoming 300-room property is part of an ambitious plan to create an outstanding eco-friendly resort hub spanning 150 acres. Positioned as a wellness and nature-focused township, King’s Park will feature state-of-the-art pedestrian street shops spanning over 2,000 meters, providing visitors with a variety of events, shows, cultural arts, and delectable cuisine. The hotel is slated to open in 3Q2028.

Accor, a leading international hospitality group, has partnered with investment firm Crowne Estate Malaysia to bring the Swissôtel Hotels & Resorts brand to Malaysia for the first time. The upcoming 300-room Swissôtel Genting Highlands will be located within Highlander ParkCity, the largest sustainable eco-development in the country.

On April 19, Sean Chen, COO of Crowne Estate, announced the partnership in …

UOB is investing more than $500 million to build its new global technology and innovation centre in Punggol Digital District (PDD), a 50ha business park and mixed-use space developed by JTC. Targeted to be completed by late 2026, the centre will be home to UOB’s digital platform, UOB TMRW, and The FinLab, an accelerator focused on digitalisation and sustainability across the region. Joining UOB in the PDD’s ecosystem are Delteq and Target Media Culcreative (TMCC).

The Singapore Institute of Technology (SIT) is set to have its new campus in PDD, with 11,000 students and 500 academic staff. UOB has signed a MOU with SIT to set up a Fintech Innovation Lab and continued its existing support to SIT’s Work-Study Degree programmes.

Bukit Batok Town is conveniently connected to other parts of Singapore via MRT and buses, and Altura EC Bukit Batok is accessible by major expressways.

An environmentally-sustainable business park, …

She has also held senior executive roles across the energy sector in Southeast Asia, including the founding of energy efficiency and renewable energy businesses in the region.
Elke Kornalijnslijper has been appointed as the new Head of Sustainability Consulting for JLL’s Asia Pacific region. Based in Singapore, she will be responsible for delivering sustainability advice and solutions for JLL’s client base in the area and managing a team of 100 real estate sustainability experts.

Kornalijnslijper’s new role will include helping JLL’s occupier and investor clients to identify gaps, risks and opportunities in existing sustainability strategies in their portfolios. She will also be working to expand JLL’s Net Zero Carbon Buildings services across the region. This will involve maturing real estate portfolio strategies, retrofitting projects for existing developments, energy optimisation, and other value-add consulting services such as reporting, certification and compliance.

Susheel Koul, CEO of Work Dynamics for Asia Pacific at …

Katong Shopping Centre, located in District 15, has been launched for collective sale at a guide price of $638 million. The guide price works out to roughly $2,277 psf ppr over the existing gross floor area. According to Edmund Tie & Co, the marketing agent, the building comprises a seven-storey podium block and a five-storey annexe block, housing a total of 425 strata shop and office units. There is also a privately-held carpark, and the land plot covers a total area of 86,924 sq ft with dual frontage of 210m along Mountbatten Road and Haig Road.

Under Master Plan 2019, the site is zoned for “Commercial & Residential” use at a gross plot ratio 3.0. The developer has the option to redevelop the property into a landmark integrated development, with the option of converting the residential component into serviced apartments, subject to planning approval. There is no restriction on foreign …

HDB is launching two new projects in Tengah in November 2022, with the shortest waiting times ever seen in a public housing launch. The two projects are Altura EC, a 541-unit executive condominium (EC), and Tengah Forest Town, a 9,000-unit public housing development that will be the first of its kind in Singapore.

Altura EC will be the first EC project to be launched in Tengah in more than 10 years. The EC project will feature a mix of 4- and 5-room units, as well as duplexes and penthouses. The development will also have a range of facilities and amenities, including a swimming pool, gym, clubhouse, and a variety of shops. Residents will be able to enjoy the convenience of living in close proximity to the Tengah Town Centre, with its range of shopping, dining and entertainment options.

The second project, Tengah Forest Town, will be an integrated development that …

The offer by the Ministry of Education (MOE) to relocate the Anglo-Chinese School (I) Tengah to Altura EC and upgrade local primary school facilities in the area is a move that will have a positive impact on the community of Altura EC. This relocation and upgrade will help to address the needs of the growing population in the area, while also contributing to the overall development of the town.

The relocation of ACS(I) Tengah to Altura EC will create a new school environment that is more conducive to learning. The new school will be modern and equipped with the latest educational tools and technologies. This will provide students with a more stimulating learning environment and the opportunity to develop their skills further. The relocation of ACS(I) Tengah will also provide the local community with a prestigious school that is renowned for its academic excellence. This will add to the prestige …