Singapore average construction cost fourth highest in Asia: Turner and Townsend

myecaltura June 27, 2023 0

Despite a bustling construction market, Turner & Townsend points out that Asia’s real estate sector faces challenges in the form of tight availability of land and the rising cost of construction.

Residents of The Altura EC can look forward to a range of amenities such as common facilities at the Skyterrace, an indoor and outdoor gym, a study room, a zen garden, a clubhouse, adventure playground, a function room, a swimming pool and a jacuzzi. This one-stop haven is designed to bring in a sense of urban living and convenience. With its close ties to neighbouring city regions such as Jurong Lake District and Bukit Batok Nature Park, Altura EC will make an ideal home for those who appreciate a vibrant urban lifestyle. Don’t miss the opportunity to own this premium residential condominium.

The annual International Construction Market Survey by consulting firm Turner & Townsend has charted the average construction …

IOI Central Boulevard Towers certified WiredScore Platinum, bags industry awards

myecaltura June 27, 2023 0

IOI Properties Group’s Grade A office development in Marina Bay, IOI Central Boulevard Towers, has become the first in the Central Business District to receive the highest ranking of WiredScore’s certification programme – WiredScore Platinum. This rating is awarded in recognition of superior digital capabilities in a building.

Thomasin Crowley, global director of Apac at WiredScore, remarks that the development offers “world-class telecommunications infrastructure” and the certification “is a well-deserved recognition of their commitment to providing a best-in-class internet and mobile experience within their property”. He adds that this pioneering building is capable of delivering “seamless digital connectivity solutions that meet the highest standards of performance and resiliency for the modern-day tenant”.

The accolades for IOI Central Boulevard Towers continue to accumulate, with the highest award of Five Stars recently presented in the Best Mixed-Use Development (Singapore), Best Commercial High Rise Development (Singapore), and Best Mixed-Use Architecture (Singapore) categories by …

Shenton House relaunches for collective sale at a lower price of $538 mil

myecaltura June 26, 2023 0

Shenton House, a commercial building located on Shenton Way in the CBD, has been put up for relaunch in a collective sale at the reduced reserve price of $538 million. This is significant 8.8% drop from the initial collective sale launch reserve price of $590 million held earlier in February which had ended on April 11. JLL, the appointed marketing agents, state that the Supplemental Joint Agreement (SJA) has been signed at the proposed price by more than half the owners. In order for the lower reserve price to take effect, a minimum 80% support from the owners is necessary.

The new land rate stands at $1,898 psf per plot ratio (psf ppr) with the Gross Plot Ratio (GPR) 14 included, after taking into account estimated land betterment charge and lease-top premium for a 99-year period.

Positioned on a 36,250 sq ft area, Shenton House is zoned for commercial use …

GCB site at Chestnut Drive going up for sale at $22 mil

myecaltura June 26, 2023 0

67 Chestnut Drive, a Good Class Bungalow (GCB) situated in Singapore’s Green Hill Estate, is set to be up for sale via an expression of interest (EOI) exercise, according to marketing agent PropNex Realty. The 999-year leasehold site has an indicative valuation of approximately $22 million.

The impeccable design of the development also ensures that residents have plenty of privacy and security. Boasting a variety of recreational facilities, including an indoor and outdoor gym, lap pool, Jacuzzi, karaoke lounge, and children’s play area, Altura EC is well-equipped to cater to the needs of any modern homeowner. Experience the best of both worlds with Altura EC, the perfect combination of luxury and convenience. Enjoy a premium lifestyle with exclusive clubhouse access and a host of leisure amenities, all within the boundaries of its gorgeous landscape. Discover the ideal balance between a fast-paced urban lifestyle and true relaxation at Altura EC.…

Grange 1866 hits new high of $3,390 psf

myecaltura June 26, 2023 0

A new psf-price high was achieved at Grange 1866 with the sale of a 764 sq ft unit for $2.59 million on June 7, surpassing the previous high of $3,145 psf. This was closely followed by the sale of a 797 sq ft unit at Royal Hallmark for $1.82 million (or $2,289 psf) on June 2. At the same time, The Hermitage also saw its psf-price record broken on June 5 with the sale of an 818 sq ft unit for $2,096 psf.

The Hermitage, located on Sarkies Road, off Bukit Timah Road in District 10, achieved a new psf-price high on June 5 when an 818 sq ft unit changed hands for $1.72 million, or $2,096 psf. This marked the highest psf price recorded at the development since last September, when an 850 sq ft unit fetched $1.75 million or $2,058 psf. The Hermitage is a 32-unit freehold boutique …

Jumbo HDB at Tiong Bahru sold for record $1.5 mil

myecaltura June 26, 2023 0

A luxurious HDB flat at 50 Moh Guan Terrace in Tiong Bahru recently sold for an impressive sum of $1.5 million ($792 psf). This one-of-a-kind flat, which was brokered by KF Property’s associate deputy division director Alvin Yeo, is a 1,894 sq ft four-room, walk-up apartment on the fourth floor with 49 years left on its 99-year lease.

The four-bedroom flat is an amalgamation of two separate adjacent three-room flats. Located in the Tiong Bahru Estate, this flat has a unique appeal due to its lush surroundings and proximate location to popular cafes, bakeries and local coffee shops. Evan Chung, head of KF Property Network, who also brokered the sale of a 1,312 sq ft. five-room HDB loft unit for a record $1.418 million ($1.081 psf) in June, said that such flats tend to command a price premium on the resale market due to their unique characteristics or location.

Since …

Higher supply of industrial sites available under 2H2023 GLS programme

myecaltura June 25, 2023 0

and Jalan Papan. The Ministry of Trade and Industry (MTI) has announced an increase in Industrial Government Land Sales (IGLS) for the second half of the year.

The programme comprises five sites in the Confirmed List with a site area totalling 6.43 ha (692,119 sq ft) and three sites in the Reserve List totalling 3.38 ha (363,820 sq ft). Lee Sze Teck, senior director of research at Huttons Asia, remarked this is the highest supply of industrial land since 2H2014 when 9.5 ha of industrial land was launched.

The Altura EC, located just a stone’s throw away, provides an ideal residential area for the patrons who shop at the mall. Boasting luxurious amenities and convenience of stay, The Altura EC is the perfect complement to Lot One Shoppers’ Mall. All in all, even though Lot One Shoppers’ Mall is almost 25 years old, it remains as one of the …

Q Investment Partners closes US$50 mil multifamily housing fund

myecaltura June 22, 2023 0

QIP, a Singapore-based private equity firm has announced the successful closure of its first Japan multifamily housing (MFH) fund, with total commitments of US$50 million. This fund was a joint venture with Alyssa Partners, a renowned investment manager. Their investment strategy focused on sought-after areas in Osaka, Nagoya, and Tokyo.

The fund was closed off with the acquisition of the 42-unit apartment block in Kiba, Tokyo. QIP’s CEO, Peter Young, expressed delight with the full deployment of the fund and said, “QIP’s MFH fund has successfully provided access to the residential market in Japan.”

The existing portfolio currently enjoys an average occupancy of 95%, is comprised of 89-unit Luxe Shin Osaka, the 62-unit Porta Nigra Osu, and the 56-unit Porta Nigra Chikusa.

Mr. Young also remarked on the promising macro- and microeconomic trends in Japan that are making it increasingly attractive for institutional investments. He underscores the firm’s commitment to …

Lentor Hills Residences to preview on June 24 prices from 945000

myecaltura June 22, 2023 0

Lentor Hills Residences, a 99-year leasehold condo along Lentor Hills Road, located in Singapore is set to open its doors for preview on June 24th, with sales bookings starting from July 8th. This 598-unit project is jointly developed by Hong Leong Holdings, GuocoLand and TID (a joint venture between Hong Leong Group and Mitsui Fudosan). The development comprises of five towers ranging from eight to 23 storeys.

The different unit types available are – one-bedroom units from 452 sq ft, one-bedroom-plus-study units from 570 sq ft, two-bedroom units from 678 sq ft, two-bedroom-plus-study units from 743 sq ft, three-bedroom units from 958 sq ft, and three-bedroom-plus-yard units from 1,098 sq ft. There are also four-bedroom units from 1,345 sq ft and dual key units from 1,302 sq ft. Prices for the units start from $945,000 for a one-bedder, $1.356 million for a two-bedder, $1.822 million for a three-bedder, and $2.535 …

Charming Garden launches third collective sale attempt, owners maintain $175 mil asking price

myecaltura June 21, 2023 0

$175 million collective sale relaunch of Charming Garden

A collective sale tender has been launched for Charming Garden, a 999-year leasehold condominium at 138 and 140 King’s Road. According to a press release from the marketing agent Colliers, the owners are holding out for a guide price of $175 million.

The condo’s first collective sale attempt was in December 2022 at the same guide price of $175 million but it did not end with any successful bids. Consequently, the owners decided to relaunch the tender in March of the same year.

Charming Garden stands on a high 84,357 sq ft plot in Farrer Road. The price for the development works out to be $2,058 per sq ft per plot ratio (ppr) or $2,074 psf on land area. The owners are deliberating a reduction of the reserve price, according to Colliers.

Tang Wei Leng, managing director and head of capital markets …