Month: December 2024

Projects in the Rest of Central Region (RCR) and Outside Central Region (OCR) took the spotlight as the best-selling new launches of 2024, driven by strong upgrader demand and a robust HDB resale market, according to Mark Yip, CEO of Huttons Asia.

Among the top 10 projects in terms of units sold, three were launched in November, with Emerald of Katong taking the top spot by selling 99% of its units within just two days. The 846-unit, 99-year leasehold development, which has only six available units as of December 17, has become the best-selling project of 2024. For the latest updates on new launches and available units, search for New Launches.

Investing in a condo in Singapore offers numerous benefits, with the potential for capital appreciation being a major advantage. This is largely due to Singapore’s advantageous position as a global business hub and its resilient economy, which results in a constant demand for real estate. In fact, property prices in Singapore have consistently increased over the years. Condos in prime locations, in particular, have experienced significant appreciation in value. For savvy investors, timing is key – by entering the market at the right time and holding onto their properties for the long term, they can reap significant capital gains. Consider exploring opportunities in Singapore Projects for a chance at profiting from this upward trend.

Chuan Park, with 696 units (76%) sold in a single day on November 10, comes in second on the list, with 79% sold as of December 17. The development’s strong sales can be attributed to the lack of new private condo launches in the neighbourhood since The Scala in 2010.

In third place is Lentor Mansion, with 75% of its 533 units sold during its launch weekend in March. Nine months later, the project has sold 92% of its units.

Nava Grove, with 65% take-up rate during November’s launch weekend, takes fourth place. By December 17, the 552-unit development had sold nearly 70% of its units.

Norwood Grand ranks fifth on the list, with 84% of its 348 units sold since its launch in October.

Hillhaven, with 76% of its 341 units sold since its debut in January, is in sixth place. The project was one of the first to launch in 2024, with 50 units sold at its launch.

Seventh place goes to the 276-unit Kassia on Flora Drive, which has sold 180 units (65%) as of December 17.

In eighth place is Lentoria, with 177 units (66%) sold since its launch in March. The 267-unit development is located in Lentor Hills Estate.

Sora, a 440-unit development in Jurong Lake District, achieved 134 sales (30%) and ranks ninth. Meanwhile, Meyer Blue, a freehold development with 226 units, sold 131 units (58%) through private sales, rounding out the top 10.

Four projects that were launched in 2023 saw significant sales momentum in the second half of 2024, with each moving more than 200 units. These projects benefited from the launch of new developments in their respective neighbourhoods, drawing attention back to the area.

The Continuum, a 816-unit freehold development on Thiam Siew Avenue, saw the most sales from Emerald of Katong’s launch. In 2024, the project sold 233 units, with almost 60% of sales occurring since November. Its total take-up rate since its May 2023 launch is now 66%.

Tembusu Grand, across the road from Emerald of Katong, is another project that benefited from its proximity to the development. Selling 53% of its 638 units during its launch in April 2023, the project moved 204 units this year, with most sold after July when market sentiment improved. As of December 17, Tembusu Grand is 91% sold, buoyed by the buzz surrounding Emerald of Katong.

Hillock Green, located in Lentor Hills Estate, also performed well, selling 217 units in 2024 and reaching a cumulative sales rate of 76%. The project’s initial launch in November 2023 saw a take-up rate of 27.6% in its first weekend. It was also boosted by the launches of Lentoria and Lentor Mansion in March, which brought renewed attention to the Lentor Hills Estate.

Finally, Pinetree Hill saw strong sales after releasing its second phase of units in September, moving a total of 208 units in 2024 and reaching a cumulative sales rate of 72%. The project also saw an uptick in interest following the nearby launch of Nava Grove in November, driving more attention to the District 21 residential enclave.…

Approaching 2025, the built environment in Singapore is set to undergo significant changes and the facilities management (FM) sector must adapt to keep up with evolving regulatory requirements, cost pressures, and technological advancements. Three key factors will drive the future of FM and contribute to its sustainability: the mandatory energy improvement regime, the impact of increased temperatures on energy costs, and the growing trend towards adaptive reuse in construction.

The Mandatory Energy Improvement regime, set to begin in the third quarter of 2025, will require existing energy-intensive buildings to undergo energy audits and implement energy-efficient improvement measures. This mandate applies to commercial, healthcare, institutional, civic, community, and educational buildings with a gross floor area of over 5,000 sq m. These buildings must reduce their energy usage intensity by 10% from pre-energy audit levels, which is an achievable target with the right strategies in place.

As a result, asset owners are encouraged to take a long-term view when making capital-intensive investments in energy-efficient systems. The energy audits will provide insights into energy consumption patterns, identify areas for improvement, and guide asset owners on strategies to prolong the lifespan of their assets, reduce operating costs, and contribute to a more sustainable built environment. Building owners can also leverage grants to help cover the costs of energy efficiency upgrades.

A notable example of successful FM is Temasek Polytechnic, which became Singapore’s first smart campus in 2021. With the goal of digitizing campus operations, the polytechnic implemented various solutions such as digital facility booking, automated campus repair and maintenance work orders, and crowd management and temperature control measures. These systems operate on a common data platform, which generates valuable data that is visualized, tracked, and monitored in a control center on campus. This data helps campus operations teams make informed decisions to keep building systems healthy and maximize the return on investment while reducing operational carbon levels.

This successful case serves as a model for smart and sustainable facilities management in Singapore. By embracing digitalization, data analytics, and sustainable practices, the FM sector can drive sustainability, reduce costs, and ensure long-term operational success.

Another driver for FM sustainability is the mandatory climate disclosure obligations for all listed and large non-listed companies with revenues of at least $1 billion and total assets of at least $500 million by 2027.

Rising temperatures and energy costs will also drive investments in predictive technology. Air conditioning and mechanical ventilation (ACMV) systems are already a major contributor to operational costs, accounting for around 60% of total energy expenses in many buildings. With predicted increases in temperatures, the demands on these systems will intensify, prompting the need for more energy-efficient solutions such as energy recovery systems and thermal energy storage. Additionally, optimizing chiller plant operations to match changing weather conditions can greatly reduce energy waste and costs.

At the city and precinct level, extreme weather risks such as flooding and urban heat pose challenges to the health and performance of critical infrastructure like drainage and plumbing systems. To mitigate these risks, building owners and city planners can leverage web-based geospatial technology to identify flood-prone areas or spaces with excessive heat. This information can help drive a comprehensive operational plan that takes into account predicting extreme weather events to mitigate the risk of equipment failure and downtime, optimizing chiller plant operations, and reducing operational carbon levels.

Another trend in the FM sector is the growing adoption of adaptive reuse in response to rising construction costs. Surbana Jurong (SJ) estimates that mechanical and electrical costs have increased by approximately 30% compared to pre-Covid levels, attributed to a 77% increase in logistic shipping costs, a 9% increase in labor costs, and a 15% increase in construction materials prices. This trend has pushed for the adoption of smart design and engineering practices, including the use of collaborative common data environments to benchmark construction and operational costs.

By consolidating data from multiple sources, stakeholders across various stages of the building cycle – from design to construction to operations – can access valuable insights to promote sustainable building practices. Data on design, civil and structural engineering plans, construction materials, and components can inform decisions on whether to redevelop or reuse them, known as the adaptive reuse approach. This approach can save time, labor, and materials, hence reducing costs and promoting sustainability. Additionally, integrating platforms like Podium, which connects developers, designers, and the supply chain in a digital ecosystem, can assist in tracking building performance metrics and driving operational carbon reduction goals.

Smart buildings also play a crucial role in mitigating further cost pressures by optimizing the life cycle of capital-intensive equipment like ACMVs, lifts, and air handling units. By using a data-driven approach, building owners can prioritize energy savings and offset energy tariffs from the capital expenditure in investing in efficient equipment. This approach also assists in complying with regulations and sustainable financing requirements. For example, sensors can monitor and track the performance of each component in a piece of equipment, providing valuable insights for informed decision-making on replacement or retrofit programs. This data can also be used for predictive maintenance, reducing downtime and improving equipment efficiency.

Combined, these drivers will shape the future of facilities management in Singapore, driving sustainability, reducing costs, and promoting efficient operations. By embracing technology and sustainable practices, the FM sector can play a crucial role in ensuring a sustainable built environment in Singapore.

Investors who are looking to purchase a condo must also carefully consider the maintenance and management of the property. This is because condos typically come with maintenance fees that are used for maintaining and managing common areas and facilities. While these fees can increase the overall cost of ownership, they also play a crucial role in preserving the property’s value. To make ownership of a condo a more passive investment, investors can enlist the help of a property management company to handle the day-to-day management tasks.…

When investing in a Singapore condominium, it is essential to consider the ongoing upkeep and management of the property. Condos typically come with maintenance fees that cover the care of communal spaces and facilities. While this may add to the overall cost of ownership, it also ensures that the property remains in top-notch condition and retains its value. Choosing to work with a property management company can help investors efficiently handle the day-to-day management of their condos, making it a more hands-off Singapore Condo investment.

, with Sky Vue selling over 40 units since July

The Meyerise took the top spot among private condos that saw a new psf-price high from Nov 29 to Dec 6.On Dec 6, a 3BR unit on the 24th floor was sold for $3.52 million, achieving a new price peak of $2,771 psf.The record is just 0.25% higher than the project’s previous peak of $2,764 psf set last October.

The Meyerise saw a new price peak of $2,771 psf when a 3BR unit was sold for $3.52 million on Dec 6. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

The Meyerise has seen nine units change hands this year at an average price of $2,405 psf. By absolute price, the most expensive unit to sell at the development this year was a 4BR+study unit on the 7th floor sold for $4.5 million ($2,189 psf) on Oct 7.…

Condo prices rise for two months, but nonetheless, prices still 1.6% below peak in July 2018The record gains and losses at The Sail Residences

The reselling of a six-bedroom penthouse at JadeScape, a 99-year leasehold condominium located on Shunfu Road, has created the biggest buzz in the real estate market during the week of Dec 3 to Dec 10. The luxurious 4,230 square feet unit, situated on the 23rd floor, sold for an impressive $10.15 million, translating to $2,399 per square foot on Dec 9. This marked a remarkable capital gain of 75% for the seller, who initially purchased the property from the developer in December 2019 for $5.8 million, equivalent to $1,371 per square foot. By owning the unit for five years, the seller made a whopping profit of $4.35 million, averaging an annualised profit margin of 15%.

According to the latest caveats lodged, the sale of this penthouse at JadeScape is the highest profit ever recorded at the development. Before this, the top transaction was the sale of a five-bedroom unit on the 10th floor measuring 2,099 square feet, which exchanged hands for $4.42 million, equivalent to $2,108 per square foot on August 12. The seller had previously acquired the property from the developer in September 2019 for $3.28 million, averaging $1,562 per square foot, making an ultimate gain of $1.14 million.

JadeScape is situated at the junction of Marymount Road and Shunfu Road in District 20. With its completion slated for 2022, the development boasts 1,206 units spread across seven residential towers. The units range from one- to five-bedroom apartments, offering a variety of sizes from 527 square feet to 2,099 square feet. Additionally, there are two penthouses measuring a grand 4,230 square feet each. With its convenient location, JadeScape is within walking distance to the Marymount MRT Station on the Circle Line.

Of the 72 resale transactions at JadeScape this year, all have been profitable with prices ranging from $1,955 to $2,420 per square foot. Sellers have earned profits ranging from $55,000 to $1.15 million, making it a highly lucrative investment opportunity.

The second most profitable resale transaction of the week was the sale of a three-bedroom unit measuring 1,410 square feet at The Imperial for a staggering $3.7 million, equivalent to $2,624 per square foot, on Dec 5. The seller had purchased the property from the developer at $1.3 million, averaging $925 per square foot back in September 2004. This translated to a remarkable capital gain of $2.4 million, or a profit margin of 184%, after owning the property for 20 years.

The sale is the fifth highest profit ever recorded at The Imperial since its completion in 2006. The top spot belongs to a four-bedroom unit measuring 3,918 square feet, which sold for an impressive $7.64 million, equivalent to $1,950 per square foot back in June 2007. The seller had initially purchased the unit for $3.99 million, averaging $1,018 per square foot back in March 2006, making an excellent gain of $3.65 million.

The Imperial is located on Jalan Rumbia, close to Fort Canning Park in District 9. The development comprises 187 freehold units spread across five blocks. The units range from two-, three- to four-bedrooms, with sizes ranging from 980 square feet to 3,918 square feet. It is located within walking distance to the Fort Canning MRT Station on the Downtown Line, as well as Dhoby Ghaut MRT Interchange, serving the North-South, North-East, and Circle Lines.

However, the resale of a one-bedroom unit at The Montana marked the least profitable transaction of the week. Measuring 635 square feet, the unit was sold for $1.02 million, equivalent to $1,603 per square foot on Dec 6. The seller had previously purchased the property in July 2014 at $1.18 million, averaging $1,863 per square foot, resulting in a loss of approximately $165,000.

In fact, this is the third-highest loss recorded at The Montana, based on available caveats. The most significant loss was recorded in May 2003 when a three-bedroom unit measuring 1,109 square feet sold for $1 million, averaging $902 per square foot. The seller had acquired the property from the developer in December 1999 at $1.35 million, averaging $1,215 per square foot, making a significant loss of approximately $347,000.

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Purchasing a condominium in Singapore offers numerous advantages, such as high demand, potential for appreciation, and attractive rental yields. However, it is important to carefully consider several factors before making a decision, including the location, financing options, government regulations, and market conditions. By conducting thorough research and seeking guidance from experts, investors can make informed choices and maximize their profits in the ever-evolving real estate market of Singapore. Whether you are a local seeking to diversify your investment portfolio or an international buyer in search of a dependable and profitable opportunity, adding a condo in Singapore to your portfolio through Condo is an alluring prospect.

The Montana is a freehold condominium located on Jalan Mutiara, just off River Valley Road in District 10. Completed in 2002, the development has 108 units spread across a single 12-storey tower. The units range from one- to four-bedrooms, offering sizes between 549 square feet to 2,659 square feet. There have been four other resale transactions at The Montana this year, all recording profits, with prices ranging from $1,930 to $2,371 per square foot, resulting in profits ranging from $80,000 to $525,000.…

CapitaLand Ascendas REIT (CLAR) has announced its plans to acquire the DHL Indianapolis Logistics Center from Exel Inc., a subsidiary of DHL Supply Chain (DHL USA), for $150.3 million. This purchase represents a 4.1% discount to the property’s independent market valuation as of January 1, 2025. After factoring in transaction-related fees and expenses of $1.7 million, as well as a $1.5 million acquisition fee for the manager, the total cost of the acquisition will be $153.4 million.

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Investing in property is a wise decision, especially in a thriving and stable country like Singapore. This island city-state, known for its strong economy and high quality of life, has caught the attention of both local and foreign investors. The real estate market in Singapore offers a plethora of opportunities, and one type of property that stands out is condos. With the added convenience, amenities, and potential for high returns, investing in a condo in Singapore has become a popular choice. For those looking to enter the Singapore condo market, here are the benefits, considerations, and steps to take, including keeping an eye on new condo launches.

According to a press release on December 17, the manager intends to fund this acquisition through a combination of internal resources, divestment proceeds, and existing debt facilities. Following the acquisition, DHL USA will enter into a long-term leaseback agreement for the entire gross floor area of the property until December 2035, with options to renew for two additional five-year terms. The long lease term of approximately 11 years, with built-in rent escalation of 3.5% per annum, will provide income stability and strengthen the resilience of CLAR’s portfolio.

The fully occupied property, with a weighted average lease to expiry (WALE) of approximately 11 years, will increase CLAR’s US portfolio WALE from 4.2 years to 4.7 years on a pro forma basis. The first-year net property income (NPI) yield for the proposed acquisition is approximately 7.6% before transaction costs and 7.4% after transaction costs. This is expected to have a positive impact on the distribution per unit (DPU) for the financial year ended December 31, 2023, with an estimated improvement of 0.019 Singapore cents or a DPU accretion of 0.1%, assuming the acquisition is completed on January 1, 2023.

The property, located in Whiteland, Indiana, is a fully air-conditioned, single-storey logistics building with a gross floor area of 979,649 square feet. Upon its completion in 2022, the acquisition will increase the value of CLAR’s logistics assets under management (AUM) in the US by 35.3% to approximately $587.5 million. This will also expand CLAR’s logistics footprint in the US to a total of 20 properties across four cities, with a combined gross floor area of approximately 5.1 million square feet. Currently, CLAR’s logistics assets in the US are located in Kansas City, Chicago, and Charleston.

William Tay, executive director and CEO of the manager, stated, “DHL Indianapolis Logistics Center is a strategic fit with our existing portfolio. This is CLAR’s first sale and leaseback acquisition in the US, and including this Class A logistics property, modern logistics assets will account for 42.3% of our US logistics assets under management. With the long lease in place, this property will further enhance CLAR’s resilient income stream, and we expect the two new properties to contribute positively to our long-term returns.”…

Wee Hur Holdings has recently announced that it has signed a binding agreement with Greystar for the sale of its portfolio of purpose-built student accommodation (PBSA) assets. This portfolio, which consists of seven properties across several Australian cities and provides over 5,500 beds, has a purchase consideration of A$1.6 billion ($1.4 billion).

Under the terms of the agreement, Wee Hur will retain a 13% stake through its subsidiary, Wee Hur (Australia). The net proceeds from the sale, estimated to be around $320 million, will be used to support the company’s strategic growth, reinvestment in its core business, and expansion into new areas such as alternative investments.

The bustling cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art facilities. Condominiums, strategically situated in prestigious locations, offer a perfect balance of opulence and practicality, making them a highly sought-after choice for both locals and foreigners. These residential developments boast a range of first-class amenities, including lavish swimming pools, well-equipped gyms, and top-notch security services, elevating the standard of living and making them a lucrative option for potential tenants and buyers. With excellent returns on investment and constant appreciation in property values, Singapore Condos have become a top pick for investors.

The transaction is expected to be completed within the next six months, subject to Greystar obtaining approval from the Foreign Investment Review Board (FIRB) and Wee Hur obtaining consent from its shareholders. This move is seen as a reflection of Wee Hur’s ability to weather challenging market conditions, including the impact of the Covid-19 pandemic and the complexities of greenfield developments.

In addition, the sale aligns with Wee Hur’s long-term strategy of diversifying its portfolio and positioning the company for sustainable growth across multiple sectors. According to Goh Wee Ping, CEO of Wee Hur Capital, this transaction is a result of the company’s proactive approach to securing liquidity and stability, as seen in its successful recap with RECO in 2021/2022. He also mentioned that this landmark sale was made possible by the rebound of the PBSA market and the full stabilisation of the company’s portfolio.

Overall, this transaction highlights Wee Hur’s resilience and ability to make strategic moves in the ever-changing real estate market. With the company’s focus on growth and diversification, it is well-positioned to thrive in the future.…

On December 16, the developers Hoi Hup Realty and Sunway Developments successfully sold 137 units at the executive condominium Novo Place during the second round of balloting. This phase was specifically open to second-time buyers, who have previously purchased a subsidized flat either as a new or resale HDB flat or an EC.

According to Mark Yip, CEO of Huttons Asia, this recent sale brings the total number of units sold at Novo Place to 444, which translates to 88.1% of the development. What’s more impressive is that this milestone was achieved within just one month of its launch on November 16, making it the top-selling EC project of 2024.

Yip shares that this success reflects the strong interest from second-time buyers who are eager to upgrade their lifestyles. It has been observed that majority of the buyers are from the West region.

Novo Place, situated at Plantation Close in the new Tengah town, is just a short five-minute walk from Tengah Park MRT station on the upcoming Jurong Region Line (JRL). This line provides convenient access to major employment hubs in the West, such as the Jurong Lake District and Jurong Innovation District. Yip highlights that very few ECs offer such close proximity to an MRT station.

Huttons Asia reveals that most buyers opted for the deferred payment scheme, which allows them to secure their desired unit while deferring their home loan payments. This option has helped alleviate the financial burden for HDB upgraders who may still have an outstanding loan on their current flat.

When considering investing in property in Singapore, it is crucial for foreign investors to have a good understanding of the relevant regulations and restrictions. In general, foreign buyers have greater freedom to purchase condos compared to landed properties which have more stringent ownership rules. However, it is important to note that foreign buyers are still subject to the Additional Buyer’s Stamp Duty (ABSD) which currently stands at 20% for their first property purchase. Although this may result in additional costs, the stability and growth potential of the Singapore real estate market continue to attract foreign investment, making it a lucrative option. Additionally, with the launch of new condos, such as the ones available on New Condo Launches, there are even more opportunities for foreign investors to tap into this market.

Yip also notes that ECs are experiencing a surge in demand from HDB upgraders due to their comparable quality and finishes to private condominiums, but at a more affordable price. Additionally, buyers can enjoy upfront remission on the Additional Buyer’s Stamp Duty (ABSD).

Based on caveats lodged, the average price for units sold at Novo Place is $1,656 per square foot (psf). For those interested in Novo Place properties, they can explore comprehensive data about all ECs, including the average profit at 5 and 10 years through Buddy, a real estate platform.

To date, there are still available units left in Novo Place, and interested buyers can check out the latest listings on the website. For those who prefer other options, they can also browse through other condo listings in District 24, condo sale transactions in the area, and upcoming new launch projects.…

According to data published by URA on December 16, developers sold 2,557 new private homes (excluding ECs) in November. This marks a 246.5% increase from the 738 units sold in October, and a 226% jump from November 2023.

Christine Sun, chief researcher and strategist at OrangeTee Group, notes that this surge in sales is the highest monthly figure since March 2013, when 2,793 units (excluding ECs) were sold. Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc (SRI), adds that this is also the first time since March 2013 that new home sales have surpassed the 2,000-unit mark in a single month.

The spike in November can be attributed to the “unprecedented” number of project launches during the month, according to Lee Sze Teck, senior director of data analytics at Huttons Asia. Five private residential projects were launched, including Chuan Park, Emerald of Katong, Nava Grove, The Collective at One Sophia, and Union Square Residences. In total, 2,871 new homes were launched in November, a 438% increase from the previous month and 196% higher than a year ago.

In addition, the 504-unit Novo Place EC also commenced sales in November, bringing the total number of new home sales to 2,891 units, a 277% month-on-month surge and 226% year-on-year jump.

Between January and November, an estimated 6,344 units were sold, slightly higher than the 6,317 units sold during the same period in 2023. This is despite the fact that developers launched 6,627 units for sale during the first 11 months of 2024, a drop from the 7,515 units launched over the same period last year.

Top-selling projects for the month include Emerald of Katong, Chuan Park, and Nava Grove. Emerald of Katong, a 99-year leasehold development by Sim Lian Group, sold 840 units with a median price of $2,627 psf. Adjacent to the East Coast, the project’s popularity can be attributed to its excellent design and location, as well as the improved affordability of mortgages due to lower interest rates.

Kingsford Group’s Chuan Park, a 99-year leasehold development located near Lorong Chuan MRT Station, sold 721 (79%) units with a median price of $2,586 psf. Nava Grove, a 99-year leasehold project by MCL Land and Sinarmas Land, sold 382 units (69%) with a median price of $2,445 psf.

One of the main benefits of putting your money into a Singapore condo is the potential for capital growth. The country’s advantageous position as a top global business center, along with its robust economic foundations, creates a constant demand for real estate. Over time, the property market in Singapore has consistently shown an upward trend, particularly for condos located in prime areas. Savvy investors who enter the market at the opportune moment and hold onto their properties for an extended period can reap significant returns in terms of capital appreciation. This is further enhanced by the availability of various Singapore Projects that offer attractive options for investors.

According to OrangeTee’s Sun, this strong performance was driven by pent-up demand and improved buyer sentiment following interest rate cuts in September. Huttons’ Lee believes that buying momentum has been building since the last quarter, with projects such as 8@BT and Norwood Grand seeing a robust response. In addition, demand was funnelled to the wider market as buyers who missed out on their preferred units in a particular project were prompted to quickly commit to a unit in another new or existing project.

However, Lee warns that December may see a decline in sales due to the school holidays and the festive season, with only around 200 to 250 units expected to be sold. This will bring full-year developer sales to approximately 6,500 units, slightly higher than in 2023.

Looking ahead to 2025, Sandrasegeran predicts that new home sales will regain momentum with the launch of The Orie, a 777-unit project by City Developments, in January. He also expects the 113-unit Bagnall Haus, the 186-unit Aurea, and the 760-unit Aurelle of Tampines EC to be launched in the first quarter of the year.

However, Sun believes that the recent surge in sales is temporary and that the subdued demand seen throughout 2024 was due to the lack of significant private project launches. She points out that only 3,049 units were sold during the first three quarters of 2024, the lowest figure since 2004 when URA data first became available.

Lee remains “cautiously optimistic” about the market in 2025, projecting new private home sales to rebound to between 7,000 and 8,000 units and prices to grow by 4% to 7%.…

Hilton, the global hospitality company, has recently opened its 100th Hilton Garden Inn in the Greater China region. The new property, known as the Hilton Garden Inn Beihai Jiafu, is located in the port city of Beihai in China. Strategically located just 2km from Beihai High-Speed Railway Station and 6km from Beihai Fucheng Airport, the 199-key hotel is a convenient 20-minute drive to Beihai International Passenger Port.

Qian Jin, Hilton’s President of Hilton Greater China and Mongolia, expressed his excitement for the brand’s growth and commitment to the Chinese market in a press release on December 13th. This opening marks the brand’s first property in the Greater China region, which was launched in Shenzhen in 2014. Since then, Hilton Garden Inn has expanded its presence in China, with properties in popular cities such as Shanghai, Beijing, Chengdu, Guilin, and Aksu. The brand is also set to open more properties in China, including tourist destinations like Zhangjiajie, Ordos, Huangshan, Shanwei, and Jinan, by 2025.

Investors looking to purchase a condominium must also take into account the maintenance and management of the property. Condos generally entail maintenance fees that encompass the maintenance of shared spaces and amenities. While these fees may contribute to the total cost of owning a condo, they also guarantee that the property remains well-maintained and retains its value over time. Seeking the services of a property management company can aid investors in handling the daily tasks involved in managing a condo, turning it into a more passive investment. Additionally, Condo should be considered as an important factor in the decision-making process.

In addition to these new openings, Hilton Garden Inn is also introducing a new regional prototype known as Hilton Garden Inn Gen A, which caters to the needs of Generation Alpha travelers in Greater China. This initiative was announced by Hilton in June, with plans to launch in Nanjing, Chengdu, Chengde, and Jinan. These new properties will contribute to Hilton Garden Inn’s expansion not only in Greater China but also across the wider Asia Pacific region. According to Clarence Tan, Senior Vice President of Development, Asia Pacific at Hilton, there are currently over 200 Hilton Garden Inn properties in the works across the region.…

CapitaLand Investment Limited (CLI) has made a significant move to expand its presence in Australia by acquiring the property and corporate credit investment management business of Wingate Group Holdings for A$200 million ($173 million) plus an earn-out.

Upon completion of this acquisition, CLI’s total funds under management (FUM) in Australia will increase by 30% to A$8.3 billion. This accounts for approximately 7% of CLI’s total FUM of $115 billion. The company has set an ambitious target to reach $200 billion in FUM by 2028.

The acquisition is a major step towards fulfilling this target and marks a return to Australia for CLI, a decade after it divested its key assets in the country to focus on faster-growing markets like China and other overseas markets.

CLI’s investor day last month had hinted at a potential acquisition of Wingate, and the confirmation of the deal on Dec 16 has been met with media attention in Australia. Wingate is renowned as one of Australia’s leading private credit investment managers, with a successful track record of over 350 transactions worth A$20 billion.

This acquisition also strengthens the existing relationship between CLI and Wingate, as in September, they had announced the close of the A$265 million Australia Credit Program (ACP), a joint venture between the two companies.

CLI has highlighted Wingate’s extensive deal origination networks and strong relationships with institutional and private high-net-worth investors as key reasons for the acquisition. It will also provide CLI with a wider reach in the Australian market.

According to Paul Tham, CLI’s group chief financial officer, besides Australia, there is a potential for growth in private credit opportunities in other Asia Pacific markets such as South Korea, India, and Japan. Therefore, CLI is focusing on geographical diversification, with Australia being one of its priority markets.

CLI has also highlighted the growth potential of the Australian private capital market, which has seen a 33% increase in assets under management in the last 18 months, reaching A$139 billion. Additionally, there is a forecasted A$146 billion gap in commercial mortgage funding by 2028.

Investing in a Singapore condo offers various advantages, and one of them is the potential for capital appreciation. Due to its strategic location as a global business hub and robust economic fundamentals, Singapore maintains a continuous demand for real estate. As a result, property prices in the country have consistently risen over the years, with prime location condos experiencing significant appreciation. Investors who enter the market at the right time and hold onto their properties for the long term can reap significant gains in terms of capital appreciation.

Wingate’s expertise will help CLI diversify its portfolio, which currently comprises of logistics, business parks, offices, and lodging assets spread across nine cities in Australia. As of Sept 30, CLI manages 34 logistics properties, business parks, and four Grade A office buildings in the country. It also owns over 13,500 lodging units across more than 150 properties through its wholly-owned lodging business unit, The Ascott.…