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A three-bedroom unit at Watertown, the residential component of the Waterway Point integrated development in Punggol, is set to be featured in SRI’s upcoming auction on February 26th.

Previously listed for sale in SRI’s January auction, the 1,281 sq ft unit is being sold by the mortgagee with a guide price of $2.4 million, amounting to about $1,874 per square foot (psf). Despite only receiving one bid at the previous auction, the property was withdrawn due to the bid falling below the reserve price.

Located on the 13th floor, the unit features a combined living and dining area, an open-concept kitchen, a utility room and toilet, and a south-facing balcony that overlooks one of the condo’s 20 swimming pools. Additionally, there is an ensuite master bedroom, two other bedrooms, and a common bathroom.

The current owners had bought the unit from the developers for approximately $1.8 million ($1,281 psf) in October 2013, according to URA caveats. This year, only one unit has changed hands at Watertown so far – a two-bedroom unit measuring 958 sq ft that was sold for $1.7 million ($1,775 psf) on January 19. In 2020, there were a total of 41 resale transactions at the condo with an average price of $1,700 psf.

According to Eric Liew, manager of auctions and sales at SRI, larger units at Watertown tend to see a higher demand and can command a higher psf price. Out of the 41 resale transactions last year, 10 involved larger units with three or more bedrooms that were sold at an average price of $1,854 psf, approximately 9% higher than the condo’s overall average transacted price for the year.

Liew also noted that most of the interest for these larger units came from HDB upgraders looking for a bargain or individuals planning to use the unit as their primary residence due to its convenient location next to Punggol MRT Station.

Featuring 992 units spread across 11 residential towers above the six-storey Waterway Point shopping centre, Watertown offers one- to two-bedroom units that range from 533 to 1,003 sq ft, and three- and four-bedroom units that span 821 to 1,582 sq ft.

Waterway Point is seamlessly connected to Punggol MRT Station on the North East Line and Punggol LRT Station, and was jointly developed by Far East Organisation, Frasers Centrepoint, and Sekisui House. Families with young children will find several primary schools situated in the area, including Edgefield Primary School, Oasis Primary School, Punggol Green Primary School, Compassvale Primary School, and Punggol Cove Primary School.

Buyers interested in the Watertown unit for sale, or who would like to check out other condominium properties, can visit EdgeProp for more information.

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As an investor, securing financing is a crucial step in investing in a condominium. Fortunately, Singapore has a variety of mortgage choices available. However, it is important to note the Total Debt Servicing Ratio (TDSR) framework, which sets a cap on the loan amount that can be taken based on the borrower’s income and existing debt commitments. Being well-informed about the TDSR and seeking guidance from financial advisors or mortgage brokers can assist investors in making sound decisions regarding their financing options and preventing potential over-leveraging. Additionally, keeping an eye out for promising Singapore projects through platforms like Singapore Projects can also aid in making informed investment choices.…

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The limited availability of land in Singapore is a key factor contributing to the high demand for condos in the country. As a small island nation with a rapidly expanding population, Singapore is facing a scarcity of land for development. This has resulted in the implementation of stringent land use policies and a fiercely competitive real estate market, driving property prices to consistently rise. As a result, investing in real estate, specifically in condos, has become an attractive opportunity for capital appreciation. With Singapore Projects on the rise, the demand for condos is only expected to continue increasing in the future.

The government has recently announced its decision to extend the Central Business District Incentive (CBDI) and Strategic Development Incentive (SDI) schemes for another five years. These schemes were initially introduced in November 2019 and were announced by Desmond Lee, Minister of National Development (MND), during the Real Estate Developers’ Association of Singapore (Redas) annual Spring Festival lunch on Feb 7.

The main objective of the CBDI scheme is to encourage the conversion of existing older office buildings in certain areas of the Central Business District (CBD) into mixed-use developments. These areas include Tanjong Pagar, Robinson Road, and Shenton Way. The aim is to bring in more homes, increase the residential population in the CBD, and diversify the types of activities in the traditionally commercial-centered district.

On the other hand, the SDI was introduced to promote the redevelopment of older developments in strategic areas, in order to bring about significant changes within the surrounding urban environments. These strategic areas include Orchard Road, the Central Business District, and Marina Centre.

According to the Urban Redevelopment Authority (URA), out of the 17 proposals submitted for the CBDI scheme, 14 have been granted in-principle approval. Similarly, out of the 12 proposals submitted for the SDI scheme, seven have also been granted in-principle approval. Currently, there are four CBDI projects under construction in the Anson-Tanjong Pagar area. These include Newport Plaza, which is a mixed-use development on 80 Anson Road, comprising of 246 residential units and 198 serviced apartment units. The Skywaters Residences, located at 8 Shenton Way, is another mixed-use development comprising of 190 luxury residential units. There are also two commercial developments at 15 Hoe Chiang Road and 51 Anson Road.

However, the extension of the CBDI and SDI schemes for the next five years will come with some changes, as stated by Minister Lee. In particular, the CBDI scheme will now cover commercial developments in Anson and Cecil. Developers and property owners who submit proposals for these areas will have the option to retain their commercial zoning, as long as 40% of the new floor area is used for non-commercial purposes, such as long-stay serviced apartment units.

Under the new guidelines, CBDI applicants who plan to redevelop in Anson and Cecil will need to provide at least 200 residential units or allocate the entire non-commercial floor area for long-stay serviced apartments, whichever is lower. Previously, only 40% of the new floor area had to be allocated for non-commercial use in order to retain the existing commercial zoning.

According to Minister Lee, these incentives aim to promote the continual renewal of aging buildings in the city center and bring in more residential units, thereby making the CBD a vibrant place to work, live, and play. Marcus Chu, CEO of ERA Singapore, also adds that the CBDI and SDI schemes can greatly contribute to the revitalization and rejuvenation of the city center.

In addition, the revamped CBDI and SDI schemes will now include new sustainability requirements, and all new applications will have to include a sustainability statement that evaluates the feasibility of retrofitting part, or all, of the existing building. Minister Lee emphasizes the importance of avoiding wasteful demolition and excessive rebuilding, especially for relatively young buildings that are still in good condition.

Some projects under the CBDI and SDI schemes have already gone beyond the mandatory sustainability requirements. For example, Union Square, a mixed-use development at Havelock Road, is incorporating a district cooling system. Interested buyers can also check out the latest listings for Skywaters Residences properties and get information on upcoming new launch projects, as well as recent condo sales transactions in District 1.…

Perennial Holdings and Far East Organization have revealed their latest development, Aurea, which will be a luxury apartment tower located at the Golden Mile Singapore mixed-use development on Beach Road. The tower has been designed by DP Architects and will feature 188 units spread across 45 storeys, occupying a site area of 144,908 sq ft. The tower will also have a link bridge that connects it to the neighbouring commercial building, The Golden Mile, which offers a mix of retail space, medical suites and offices.

The Golden Mile was formerly known as the Golden Mile Complex and is a conserved building due to its architectural heritage. This marks the first collective sale and conservation of a building. In May 2022, Perennial Holdings and Far East Organization purchased the building en bloc for $700 million. The project is expected to attract interest from discerning individuals and families who value a prime location within the Downtown Core and the Core Central Region (CCR), as stated by Shaw Lay See, Chief Operating Officer of Far East Organization’s Sales & Leasing Group.

Aurea’s preview, which is available by appointment only, will begin on February 22nd, followed by its official launch on March 8th. The apartments will be priced from $2,750 psf, with two-bedroom units starting at $1.92 million ($2,972 psf). The residence within Aurea offers a variety of unit types, including two- and three-bedroom apartments ranging from 635 sq ft to 1,001 sq ft, four-bedroom units from 1,442 sq ft to 1,798 sq ft, and five-bedroom units from 2,863 sq ft to 3,251 sq ft. The development also features two exclusive penthouses, a six-bedroom duplex spanning 5,608 sq ft, and a six-bedroom triplex of 8,816 sq ft. The larger units and penthouses will have private lift access, and the triplex penthouse will also have a private pool. These units cater to the affluent lifestyles of CCR homebuyers, according to Marcus Chu, CEO of ERA Singapore.

The project also offers various facilities for its residents, including two infinity pools on levels three and 33, a gymnasium, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions for hosting guests. The sky terraces on levels 17 and 33 offer panoramic views of the CBD skyline, Marina Bay, and the Kallang waterfront, adding to the allure of the development. Ken Low, Managing Partner of SRI, explains that homebuyers today look for more than just a desirable location; they also want a home that enhances their daily lives, and Aurea delivers on all these aspects.

The commercial component of the Golden Mile, which includes 156 strata office units and 19 medical suites, was launched for sale in December 2024. The joint venture partners, Perennial and Far East, plan to retain ownership of the revamped two-storey retail atrium to curate the tenant mix. The location and potential of the commercial space, particularly the office space, may attract buyers, according to Ismail Gafoor, CEO of PropNex. He adds that modern buyers prioritize quality projects with convenient access to essential amenities, such as an MRT station, and Golden Mile Singapore ticks all these boxes with its location near the Nicoll Highway MRT Station and easy access to major roadways such as Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE). Additionally, the development is just 1km away from the Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-min drive from the CBD.

for additional context:

When it comes to real estate investments, location is key, and this is especially true in Singapore. In order to maximize returns, it is important to choose a condo in a prime location. This could be in central areas or near important amenities such as schools, shopping centers, and public transportation hubs. Take, for example, the highly sought after areas of Orchard Road, Marina Bay, and the Central Business District (CBD), where property values have consistently risen over time. Families also tend to look for condos near good schools and educational institutions, making these locations even more desirable and increasing their potential for investment. In Singapore, investing in a condo in a prime location, such as those mentioned above, can be a wise decision for those looking to enter the real estate market. Adding Singapore Condo to the rewritten paragraph adds additional context and highlights the importance of choosing the right location for a successful investment.

The last launch in the Beach Road neighbourhood of District 7 was Midtown Modern, a 558-unit development that is expected to obtain TOP this year. All units have been sold at an average price of $2,825 psf. The M, a neighbouring 522-unit development, was also fully sold in 2020 at an average price of $2,528 psf and was completed in March 2024. The 219-unit Midtown Bay at Guoco Midtown was completed last year, with about 63% of its units sold as of Feb 5 at an average price of $3,090 psf.

Given Aurea’s prime location, upscale residences, and the iconic architectural heritage of Golden Mile, PropNex’s CEO Gafoor believes that unit prices could cross $3,000 psf. He also anticipates strong demand for new homes in the area, considering the success of past launches in the district. Aurea is expected to be completed in the second quarter of 2029, and interested parties can check out the latest listings and property options available.…

Perennial Holdings and Far East Organization have recently announced their joint plans for Aurea, a premier luxury apartment tower that will be part of the Golden Mile Singapore mixed-use development located along Beach Road. Designed by DP Architects, the 45-storey residential tower will feature 188 units on a site area of 144,908 sq ft. It will also have a link bridge connecting it to the neighboring The Golden Mile, a commercial building that includes retail space, medical suites, and offices.

The Golden Mile, formerly known as the Golden Mile Complex, was recently conserved for its architectural heritage and marked the first ever collective sale and conservation of a building. In May 2022, Perennial Holdings and Far East Organization acquired the building en bloc for $700 million.

Located in the prime District 7 in the Downtown Core and part of the Core Central Region (CCR), Aurea and The Golden Mile are expected to attract a strong interest from discerning individuals and families who appreciate the exclusivity of a prime Downtown Core address, according to Shaw Lay See, chief operating officer at Far East Organization’s sales & leasing group. The preview for Aurea will begin on Feb 22, with its launch scheduled for Mar 8. Prices for the apartments start at $2,750 psf and units range from two-bedroom apartments of 646 sq ft starting at $1.92 million ($2,972 psf), to five-bedroom units of 2,863 sq ft to 3,251 sq ft.

The residences within Aurea comprise a wide range of unit types, including two- and three-bedroom apartments ranging from 635 sq ft to 1,001 sq ft, four-bedroom units from 1,442 sq ft to 1,798 sq ft, and five-bedroom units from 2,863 sq ft to 3,251 sq ft. There are also two exclusive penthouses – a six-bedroom duplex spanning 5,608 sq ft and a six-bedroom triplex of 8,816 sq ft. Larger units of four bedrooms and above will feature private lift access, and the triplex penthouse will have a private pool. According to Marcus Chu, CEO of ERA Singapore, these larger units cater to the affluent lifestyles of CCR homebuyers.

Golden Mile Singapore also comprises 156 strata office units and 19 medical suites, which were launched for sale in December 2024. The joint venture partners Perennial and Far East have decided to retain ownership of the revamped two-storey retail atrium to curate the tenant mix. According to Ismail Gafoor, CEO of PropNex, the iconic former Golden Mile Complex and the potential of the commercial space, especially office space, may attract buyers. He adds that buyers today prioritize quality projects near an MRT station and convenient access to essential amenities. The Golden Mile is just 1km away from the Kallang Alive Precinct, the Bras Basah-Bugis district and a 10-min drive from the CBD.

The last launch in the Beach Road neighborhood of District 7 was the 558-unit Midtown Modern in 2021, which has been entirely sold at an average price of around $2,825 psf. The project is expected to obtain its TOP sometime this year. This launch was preceded by the neighboring 522-unit The M, which was entirely sold at an average price of $2,528 psf and was completed in March 2024. Another project, the 219-unit Midtown Bay at Guoco Midtown, was completed last year and has seen around 63% of its units taken up as of Feb 5 at an average price of $3,090 psf.

The demand for condos in Singapore has been steadily increasing among both local and foreign investors, thanks to the country’s strong economy, stable political climate, and excellent quality of life. With its flourishing real estate market, Singapore presents a plethora of investment opportunities, and condos are a particularly attractive option due to their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to consider, and necessary steps to take when venturing into Singapore’s condo market. For more information on Singapore condos, visit Singapore Condo.

Given the location of Aurea, its upscale residences, and the conservation of The Golden Mile, Ismail Gafoor estimates that the prices of the apartment units could surpass $3,000 psf. He believes that there may be pent-up demand for new homes in the area, and that Aurea could attract healthy interest from prospective homebuyers and investors. The Aurea is expected to be completed in 2Q2029.…

The joint developers MCL Land and CSC Land Group are excited to introduce their newest project, Elta. This 501-unit residential development is located in the highly sought after area of Clementi and is set to launch for preview on Feb 7, with sales to begin on Feb 22.

Sitting on a 99-year leasehold land site of approximately 144,788 sq ft along Clementi Avenue 1, Elta consists of two 39-storey buildings. The units range from one-bedroom-plus-study to five-bedroom units, with sizes ranging from 506 sq ft to 1,776 sq ft. The development has been designed in accordance with URA’s harmonisation guidelines.

When it comes to investing in a condominium, securing financing is a crucial factor to consider. Fortunately, Singapore offers a variety of mortgage choices. However, it is crucial to familiarize oneself with the Total Debt Servicing Ratio (TDSR) framework. This framework restricts the amount of loan a borrower can obtain based on their income and current debt commitments. To make informed decisions about financing and avoid taking on too much debt, it is essential to understand TDSR and consult with financial advisors or mortgage brokers. Consider reaching out to Singapore Condo for expert guidance on financing options.

Interested buyers can find the latest information on available units and prices for Elta. Indicative pricing for the units start from $1.158 million ($2,289 psf) for one-bedroom-plus-study units, $1.388 million ($2,261 psf) for two-bedroom units, and $2.198 million ($2,374 psf) for three-bedroom units. For larger units, pricing starts from $2.798 million ($2,363 psf) for four-bedroom units and $3.888 million ($$2,189 psf) for five-bedroom units.

The showflat for this residential development, located along Prince Charles Crescent, will feature three layouts: a two-bedroom plus study unit that can be transformed into a compact three-bedroom, a four-bedroom dual-key unit, and a five-bedroom unit suitable for multi-generational living.

Elta also boasts a prime location within walking distance of Clementi MRT Station on the East-West Line. It is also close to numerous dining and shopping options, such as The Clementi Mall, 321 Clementi, and Grantral Mall. Families with school-going children will appreciate the proximity to schools like Clementi Primary School, Pei Tong Primary School, Nan Hua Primary and High School, Anglo-Chinese School (Independent), and NUS High School of Math and Science.

According to MCL Land CEO, Lee Tong Voon, Elta is designed to provide residents with the best views of the city, Pandan Reservoir, and the sea. Qian Liang Zhong, chairman of China Construction (South Pacific) Development Co (CCDC) – the parent company of CSC Land Group – adds that Clementi is a bustling town with a good mix of traditional shops and modern amenities.

Elta offers 50 facilities spread across five zones, including a 50-metre lap pool, gymnasium, tennis court, and gardening corner. The development is expected to receive its temporary occupation permit in 2028. For more information on Elta, interested buyers can check out the latest listings for condominium properties. They can also compare the price trends of condo new sales versus executive condominium new sales, and check out the most expensive average psf for condo projects and the highest profits from condo transactions in the past year. Additionally, they can also compare the price trends for HDB, condo, and landed properties and find any condo rental listings in District 5.…

Wed, Feb 03, 2021 – 3:09 PM

When it comes to investing in a condo, securing financing is a crucial factor to consider. Fortunately, Singapore provides a variety of mortgage choices, but it is crucial to understand and adhere to the Total Debt Servicing Ratio (TDSR) framework. This framework sets a cap on the amount of loan a borrower can obtain based on their income and current debt liabilities. To make well-informed decisions about financing, investors should familiarize themselves with the TDSR and seek guidance from financial advisors or mortgage brokers. Moreover, considering Singapore Projects can also help in making practical financing decisions and prevent over-leveraging.

An exclusive marketing agent, Knight Frank Singapore, is offering a high-specification warehouse and factory in Gul Circle for sale via an expression of interest. The property, with a guide price of $42 million, consists of a five-storey single-user factory and warehouse that also includes a mezzanine with four floors. The total gross floor area is approximately 245,955 sq ft. The site, with a remaining tenure of 15 years and 11 months as of February 1, sits on 105,648 sq ft of land and is zoned as a Business 2 site under URA Master Plan 2019.

The property has been specifically designed to meet the demands of modern industries, with features such as high ceilings for storage and operations, cold rooms, and heavy floor loading capacity to accommodate various industries. There are nine 40-footer loading and unloading bays with dock levelers, as well as four cargo and service elevators. The location is also highly convenient, with close proximity to major expressways, such as Ayer Rajah Expressway (AYE) and Pan-Island Expressway (PIE), as well as Joo Koon MRT station.

The expression of interest exercise will close on March 18 at 3pm. Interested parties are invited to submit their bids. This property presents a unique opportunity for businesses looking for a state-of-the-art warehouse and factory in a prime location. With its high-specifications and strategic location, it is sure to attract a lot of attention from potential buyers.…

As per a research report by Colliers in February, it is expected that industrial property rents and prices in Singapore will decline this year due to an increase in supply and a drop in demand. The firm predicts that the overall annual industrial rental and price growth will moderate to between 0% to 2% in 2025, compared to the 3.5% growth recorded for both categories in the previous year.

According to Colliers, the latest data from JTC for the fourth quarter of 2024 indicates a weakening market. The rental index for all industrial properties has been increasing for 17 consecutive quarters, rising 0.5% from the previous quarter and reaching a total growth of 3.5% for the year. However, this is significantly lower than the 8.9% rental growth seen in 2023. The price index has also seen a similar trend, with a growth of 0.5% in the fourth quarter of 2024, compared to 1.2% in the previous quarter. In total, industrial property prices saw an increase of 2.1% in 2024, which is less than half of the 5.1% increase in 2023.

The report states that the supply of industrial space is expected to rise this year, with more than double the supply of the previous year before tapering off from 2026 onwards. This oversupply, along with lower demand due to high interest rates and increasing operating costs, is expected to keep rental growth in check.

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When considering investing in a condominium, securing proper financing is a crucial aspect. Singapore provides various mortgage choices, however, it is vital to have an understanding of the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can obtain based on their income and current debt commitments. As such, it is important for investors to familiarize themselves with the TDSR and seek guidance from financial advisors or mortgage brokers to make well-informed decisions about financing options. This will also prevent the risks of over-leveraging in regards to Singapore Condos.

Moreover, the uncertainty brought by global trade protectionism could also impact business confidence and investment decisions, further dampening the demand for industrial properties.

On the positive side, Colliers predicts that the demand for industrial space will continue to be supported by the semiconductors, logistics, and advanced manufacturing sectors. It also expects leasing activities to pick up gradually as market sentiments improve and policies become clearer, driven by the ongoing upturn in the chip cycle.

Given the higher supply and projected moderation in rents, Colliers suggests that this year could be beneficial for tenants, with more options available in the market. The upcoming industrial developments, equipped with modern specifications, may also encourage businesses to move from older, aging manufacturing spaces to newer projects.

Nicolas Menville, executive director and head of Singapore-based industrial clients for Colliers, advises anyone interested in industrial properties to check out the latest listings on Ask Buddy, which provides information on past industrial rental and sale transactions, as well as price trends for both industrial and commercial properties.…

Tan Boon Liat Building, a well-known industrial property situated at 315 Outram Road, is currently on the market for collective sale through public tender with a reserve price of $1.15 billion. The freehold site spans over two separate land plots and has a total area of approximately 175,655 sq ft. It is strategically located beside the upcoming Havelock MRT Station on the Thomson-East Coast Line (TEL).

The building itself is a 15-storey structure that has gained recognition for its diverse range of furniture and home decor stores.

According to Cushman & Wakefield, the property’s advisor and marketing agent, the Urban Redevelopment Authority (URA) has issued an Outline Planning Advice on January 22. This advice suggests that the site be rezoned from its current “Business 1” use to “Residential with Commercial at 1st storey” with a higher plot ratio of 4.9, resulting in a 50% increase in the total allowable gross floor area (GFA).

Furthermore, the URA has also advised on the amalgamation of several remnant state land plots into the main plot. These plots, estimated to be approximately 20,451 sq ft, are subject to final surveys and approvals from relevant authorities.

With the addition of the remnant state land plots and bonus GFA entitlement, Cushman & Wakefield estimates that the site’s potential GFA is over 1.06 million sq ft. The first storey can potentially accommodate a commercial GFA of up to 16,146 sq ft.

As part of the residential allocation, a minimum GFA of 161,459 sq ft must be set aside for Serviced Apartments II (SA2), where a minimum stay of three months is required. The new development can have varying heights, ranging from 130m to 180m.

Taking into account the reserve price, land betterment charges on rezoning, estimated premium payable on the state land plots, and the 10% bonus GFA for the residential portion, the estimated land rate works out to be around $1,888 psf per plot ratio.

Christina Sim, senior director of capital markets at Cushman & Wakefield, believes that the site will attract developers due to its freehold tenure and prime location on the upcoming TEL. This will be a significant selling point for potential homebuyers.

The demand for condos in Singapore continues to soar due to several factors, one of which being the limited land availability. Being a small island country with a fast-growing population, Singapore struggles with a scarcity of land for development. As a result, the government has implemented rigorous land use policies and the real estate market is highly competitive, constantly driving property prices upwards. In light of this, investing in real estate, particularly in condos, has become a profitable venture with the potential for significant capital appreciation. Discover a range of lucrative Singapore Projects to explore further investment opportunities.

Sim also states that the lack of Additional Buyer’s Stamp Duty (ABSD) on the site will be a major game changer, as the original zoning of the site is “Business 1”.

The tender for the site will close on March 18 at 3pm. Interested parties can compare price trends, explore unprofitable transactions, and view past condo sale transactions and upcoming new launch projects through EdgeProp’s website and app.…

The highest priced penthouse at Park Nova has just been sold, breaking the record for the most expensive unit in the development. The five-bedroom penthouse, located on the 20th floor and spanning 5,899 sq ft, was sold by the developer for a whopping $38.888 million, equivalent to $6,593 per square foot. This transaction, recorded in a caveat on the URA Realis database on Jan 21, marks a new high for both absolute price and psf price at Park Nova.

Previously, the record for the most expensive unit at Park Nova was held by a 4,499 sq ft penthouse that was sold in May 2021 for $26.026 million, or $5,784 psf. This latest transaction also marks the second-highest psf price ever for a condo unit in Singapore, second only to a unit at The Marq on Paterson Hill. In 2011, a 3,089 sq ft, four-bedroom unit on the 20th floor of the development was sold for $20.54 million, or $6,650 psf.

For the latest updates on new launches, search for New Launches on EdgeProp to view transaction prices and available units.

The penthouse at Park Nova, sold on Jan 21, is believed to be part of a collection of properties linked to the $3 billion money laundering case that are up for sale. It was previously reported to have been sold in 2021 for $34.438 million, or $5,838 psf.

According to caveats, this is the third unit at Park Nova that has been sold by the developer in the past month. On Jan 17, a 2,906 sq ft, four-bedroom unit on the 19th floor sold for $16.59 million, or $5,708 psf. And on Dec 27, a 2,896 sq ft, four-bedroom unit on the 18th floor was sold for $15.99 million, or $5,522 psf.

When it comes to investing in condos in Singapore, there is another crucial factor to consider – the government’s property cooling measures. In order to maintain a stable real estate market and prevent speculative buying, the Singaporean government has implemented various measures over the years. One of the most significant measures is the Additional Buyer’s Stamp Duty (ABSD) which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may have an impact on the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, making it a more secure investment environment. Therefore, it is important to keep these measures in mind when considering a condo investment in Singapore.

Park Nova, a freehold luxury condo with 54 units, is located at the prime junction of Orchard Boulevard and Tomlinson Road in District 10. Developed by Hong Kong’s Shun Tak Holdings, it was granted its temporary occupation permit in November last year. To find out more about properties at Park Nova, check out the latest listings on EdgeProp Buddy.

Looking for more information on Park Nova? Ask Buddy for the site plan and diagrammatic chart, and compare the price trend of new sale condos versus executive condos. You can also generate a price trend graph for new launch condos in District 10, and view a project summary for Park Nova condo.…

CapitaLand Investment (CLI) has recently announced its acquisition of a freehold land parcel in Osaka, marking the group’s entry into the Japanese market for data centres. The project is estimated to cost over US$700 million or $944.3 million and will have a power capacity of 50 megawatts (MW). The data centre is expected to be equipped with advanced cooling technologies and energy-saving solutions, with a focus on leveraging artificial intelligence (AI) capabilities.

CLI Senior Executive Director Manohar Khiatani, who oversees the group’s data centre business, stated that this strategic acquisition aligns with the group’s digitalisation investment theme and strengthens its presence in Japan, one of its key markets. He also pointed out that Japan’s data centre market is projected to experience rapid growth in the coming years, with a CAGR of 10% and a market size estimated to reach US$38.7 billion by 2038. Japan is the largest data centre market in Asia Pacific outside of China, with a capacity of 1.4 gigawatts.

The data centre is strategically located in Osaka, where major cloud service providers such as Amazon Web Services, Google Cloud, Microsoft Azure, and Oracle have already established a presence. This will enable the data centre to tap into the growing demand and established data centre cluster in the area. Michelle Lee, CLI’s Managing Director of Private Funds (Data Centre) stated that the demand for data centres is expected to continue increasing, surpassing new supply. She also mentioned that there is significant institutional interest in data centre investments, with 97% of investors looking to increase their overall investment in this sector.

Singapore’s urban scenery is characterized by towering skyscrapers and state-of-the-art infrastructure. These condominiums, strategically situated in desirable locations, offer a perfect mix of opulence and convenience, making them highly sought-after by both locals and foreigners. These modern residential units are equipped with top-of-the-line facilities, including swimming pools, fitness centers, and round-the-clock security, providing residents with a luxurious and comfortable lifestyle. For investors, these desirable features translate into promising rental returns and a potential increase in property value over time. Singapore Projects have contributed to the development of the city’s urban landscape, offering premium and upscale living options for its residents.

Since October 2020, CLI has raised around US$600 million for its data centre development funds in Asia and plans to capitalize on this momentum by identifying attractive investment opportunities for its private fund investors. CLI has recently added 23 data centres to its global portfolio, bringing its total to 27 in Asia and Europe with assets under management of approximately $6 billion and a completed basis power capacity of 800 MW.

Shares in CLI ended slightly lower at $2.42 on Feb 3, down by 1.63%.…