Condo Score

One Holland Village Residences’ three-bedroom unit has set a new record high price of $3,781 psf for private condos from Feb 16 to 21. The unit was sold for $4.68 million on Feb 17, marking the first sale at the 99-year leasehold development this year. The sellers had previously purchased the unit for a lower price of $4.19 million in November 2023, making a profit of about $490,000. This transaction surpasses the project’s previous record of $3,426 psf, achieved in August 2022.

One Holland Village Residences, a 296-unit development in District 10 launched in 2019, comprises one- to five-bedroom units ranging from 489 sq ft to 3,455 sq ft. The most expensive unit transacted at the development was a five-bedroom apartment sold for $11.4 million or $3,300 psf.

Boutique condo Hill House, located at the top of Institution Hill, off River Valley Road, saw the second-highest psf-price for the period in review. On Feb 21, a 452 sq ft, two-bedroom unit on the ninth floor was sold for $1.538 million, setting a new record of $3,402 psf. This comes just four days after another 452 sq ft, two-bedroom unit on the eighth floor was sold for $1.536 million, setting the previous record of $3,398 psf.

Including the record-setting transaction, a total of nine Hill House units have been sold since the start of the year at an average price of $3,213 psf. The boutique condo, set to be completed in 3Q2026, is five minutes away from River Valley Primary School and close to shopping malls such as New Bahru.

Lastly, a new psf-price high was also set at Chuan Park Condo along Lorong Chuan, with a 732 sq ft, two-bedroom unit sold for $2.04 million ($2,785 psf) on Feb 19, narrowly surpassing the previous record of $2,765 psf set in November 2023. The development comprises two- to five-bedroom apartments from 700 sq ft to 1,841 sq ft and has sold 744 units since its launch in November 2024, at an average price of $2,589 psf. It is set to be completed in 2028, and is located near Lorong Chuan MRT Station and Nanyang Junior College.

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Investing in a condo in Singapore has become a top choice for both local and foreign investors, thanks to the country’s strong economy, stable political climate, and excellent quality of life. The real estate market in Singapore presents a plethora of opportunities, with condominiums being a highly attractive option due to their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, considerations, and necessary steps for those looking to invest in a condo in Singapore.…

An exclusive marketing agent from Colliers International has announced the sale of a three-storey terrace factory located in Midview City. The property has a guide price of $6.2 million or $688 psf.

Situated in the bustling Sin Ming Industrial Estate, the factory comes equipped with a basement and roof terrace. Spanning a total strata area of 9,009 sq ft, the building is zoned as a “Business 1” site under the URA Masterplan 2019.

According to Colliers International, the 60-year leasehold property is currently fully leased and has been approved for use as a childcare centre. It is currently tenanted by Star Learner preschool and childcare centre.

The cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art infrastructure. Condominiums, strategically situated in sought-after locations, offer a perfect balance of opulence and convenience, catering to the preferences of both locals and expats. These residential properties boast a plethora of facilities such as swimming pools, fitness centers, and round-the-clock security services, elevating their appeal to potential renters and buyers. For investors, these desirable amenities translate into higher rental returns and appreciation in property values over time. Additionally, with the introduction of new condo launches, the condo market in Singapore continues to thrive and attract a diverse range of buyers.

Midview City, a light industrial building with a 60-year lease, was completed in 2012. The location offers convenient access to Bright Hill MRT Station on the Thomson-East Coast Line. It is also easily reachable from the Bishan and Upper Thomson residential areas through two entrances via Sin Ming Lane and Bright Hill Drive.

Raphael Lee, director of industrial services at Colliers, has stated that the property presents a rare opportunity for investors as it will be sold with an existing preschool operator in place.

As a Business 1 light-industrial property, it is not subject to Additional Buyer’s Stamp Duty (ABSD) and can be purchased by foreigners. The closing date for the Expression of Interest (EOI) exercise is April 29 at 3pm.

Explore the price trend for industrial properties and compare them to commercial properties through EdgeProp Landlens. Check the past industrial sale and rental transactions, as well as current listings for industrial properties.…

BlackRock Sees Opportunities for Real Estate Investment in Asia Pacific Markets

According to Hamish MacDonald, head and chief investment officer of APAC Real Estate at BlackRock, investors are showing a strong interest in deploying capital into real estate markets in Asia Pacific that have high levels of liquidity. This year, the property sectors that are expected to benefit from economic tailwinds are accommodation, logistics, and alternative assets. MacDonald says that the markets in the region with abundant liquidity in 2021 include Australia, Japan, Singapore, and Auckland in New Zealand. These countries and property markets are also the main focus for BlackRock this year.

MacDonald predicts that investor sentiment will be more bullish this year compared to the previous two years, with institutional investors starting discussions on deploying and recycling capital in select Asia Pacific real estate markets. In Singapore, BlackRock has been focused on acquiring serviced apartment properties. They partnered with YTL Corp to purchase Citadines Raffles Place for around $290 million last October. This was followed by their collaboration with Hong Kong-based accommodation operator Weave Living to acquire Citadines Mount Sophia for $148 million in February 2024.

The property operated by Weave Living, which is now known as Weave Suites – Hillside, reopened this week with 175 rooms. MacDonald explains that their recent acquisitions in Singapore reflect their belief that there is a shortage of new serviced apartment supply in the city-state, yet there is high demand for this type of accommodation. He adds that they are not focused on building an aggregated portfolio, but rather on targeting specific deals. MacDonald states, “We prefer existing properties that we can refurbish and reposition with the help of a partner and add value by introducing new amenities.”

He also notes that Singapore continues to attract significant capital inflows and high-skilled labor, which supports the country’s strong economic growth. He says, “We remain very positive on opportunities in Singapore.” Apart from Singapore, MacDonald sees Japan as a target for many real estate investors this year. He says, “We are bullish on the Japanese economy based on our analysis of domestic pricing power, wage growth, and corporate reform, which collectively support real estate growth.” Daigo Hirai, head of Japan real estate at BlackRock APAC, adds that several factors, such as wage increases and rising construction costs, have contributed to the strong rental uplift in the Japanese residential market in recent quarters.

Hirai expects a 7% to 8% increase in residential rents across major Japanese cities like Tokyo and Osaka this year. He also points out that tenants are now opting for larger-sized apartments instead of compact ones like studios. BlackRock is looking to partner with an experienced accommodation operator to manage a hybrid residential investment strategy that caters to both inbound tourist accommodation needs and domestic rental demand. This would allow them to increase their investment presence in tourist-dominated cities such as Kyoto and Fukuoka. Hirai says the properties that fit this strategy are those near train stations in residential-commercial neighborhoods like Osaka’s Namba district, as well as smaller developments with up to 50 units. He adds that the firm will consider acquisitions worth JPY1 billion ($8.93 million) to JPY3 billion.

MacDonald says that the key to operating in Japan is to have specialist ground teams who can identify potential acquisition deals at a significant discount, and the firm’s focus in Japan is on residential assets. Meanwhile, Ben Hickey, head of Australia Real Estate at BlackRock, says that long-term population growth estimates support positive long-term growth in most sectors of the Australian real estate market. He also notes that most property sectors in Australia are typically characterized by under-supply and low vacancy rates.

When it comes to investing in Australia, Hickey says that any strategy should consider whether rental growth can exceed inflation, the ongoing long-term supply-demand imbalance, and a favorable exit strategy. Therefore, the company is focused on niche asset classes in Australia, such as childcare properties, last-mile logistics assets, life science real estate, and self-storage properties. These four asset types benefit from the country’s long-term population growth and are under-supplied compared to other regional markets. According to Hickey, this allows them to generate above-average returns with minimal risk, without relying on a favorable interest rate outlook.

Due to the limited amount of land in Singapore, there is a significant demand for condos in the country. As an island nation with a quickly expanding population, Singapore is facing a scarcity of land for development. To address this issue, strict land use policies have been implemented, resulting in a highly competitive real estate market where property prices remain consistently high. As a result, investing in real estate, especially in condos, has become a lucrative opportunity with the potential for capital appreciation. Keeping in mind the growing demand, new condo launches are continually being introduced to the market.…

In recent years, if you’ve toured a show flat, you may have noticed that the unit sizes seem to have shrunk. This can be attributed to our perception of size being relative to what we are accustomed to. In the 1990s and 2000s, the homes we grew up in, whether they were HDBs or condos, were generally larger. The average size of a new condo in 1995 was 1,272 sq ft, which slightly increased to 1,286 sq ft in 2005, before plummeting to 858 sq ft in 2015. By 2024, it had risen slightly to 929 sq ft. However, demographic changes have played a significant role in this trend. In 1995, the average household size was four, which decreased to 3.6 in 2005, 3.4 in 2015, and further to 3.1 in 2024.

The average space per household member has also decreased over the past 29 years. In 1995, it was 318 sq ft, increasing to 357 sq ft in 2005, before dropping to 252 sq ft in 2015. By 2024, it had rebounded by 19% to 300 sq ft. This is a commendable feat, considering Singapore’s limited land resources. In fact, the average size of condos per capita has decreased by 5.7% over the past 29 years. This was made possible with the help of the government, which had a hand in controlling the sizes of units in 2008.

During this time, the Rest of Central Region (RCR) saw the introduction of “Mickey Mouse” units in Singapore, with the smallest unit being 24 sq m (258 sq ft), equivalent to two parking spaces. This significantly reduced the barriers to entry for property investments, with prices as low as $375,000. These projects were in high demand and led to the proliferation of “Mickey Mouse” units in the following years. However, there were concerns about the living environment being compromised due to the small sizes.

To address these concerns, the Urban Redevelopment Authority (URA) stepped in by issuing guidelines on the maximum allowable number of dwelling units (DUs) in 2011. These guidelines required developers to use an average size of 70 sq m for projects outside the Central Area, with some areas having a more stringent requirement of 100 sq m. This ruling took effect in January 2012, but the average DU size continued to decline over the next few years, leading to an increase in the number of DUs and straining the infrastructure in some areas.

In response, the URA further tightened the guidelines in 2019, which saw an increase in the average size of DUs outside the Central Area by 21.4% to 85 sq m. This effectively halted the decline in average DU sizes. However, there was still a concern about the smaller units being built in the Central Area, which goes against the URA’s aim to make it an attractive place to live, work, and play. Hence, in January 2023, the URA extended the guidelines to the Central Area, requiring 20% of DUs in all projects to have a net internal area of at least 70 sq m.

In June 2023, the URA also harmonized the strata area and gross floor area (GFA) definition. This means that areas such as air-conditioning ledges, if exclusive to a unit, will be counted as its strata area. As a result, many developers chose to omit aircon ledges in DUs, leading to a decrease in the average size of DUs by 6%.

When considering real estate investments, location plays a crucial role, and this is even more evident in Singapore. Condominiums located in central areas or in close proximity to important amenities like schools, shopping centers, and public transport hubs tend to appreciate in value significantly. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown growth in property values over time. In addition, the accessibility to prestigious schools and educational institutions in these areas makes condos an attractive investment for families, further increasing their potential for growth. With these desirable locations, it’s no surprise that investing in a condominium in Singapore is a wise decision for any investor. Condo

Looking at the different market segments, the RCR saw the most significant increase in average size, at 19.5%, likely due to the more stringent control of 100 sq m on the average DU size. The Outside Central Region (OCR) also saw an improvement by 5.8%, while the average DU size in the Core Central Region (CCR) decreased by 11.7%.

Despite the URA’s intervention, the average size of DUs has increased to 929 sq ft in 2024, 8.3% larger than 2015’s 858 sq ft. However, with the harmonization of the GFA definition, the average size of DUs may decrease. Nonetheless, buyers today are getting better value for their purchases compared to 10 years ago, with smart home features becoming the bare minimum in condos and better quality appliances being provided. Lee Sze Teck, senior director of data analytics at Huttons Asia, believes that the average DU size will not go back to 2015’s level, due in part to cooling measures for foreigners, resulting in more local buyers who prefer compact units.…

The Ministry of National Development (MND) has recently announced enhancements to both the Silver Housing Bonus (SHB) and the Fresh Start Housing Scheme during the Committee of Supply debate. These adjustments are part of the government’s continuous efforts to support the elderly in downsizing and improve public housing accessibility for lower-income households living in HDB rental flats.

The Silver Housing Bonus encourages seniors to plan for their retirement by unlocking the value of their residential assets and transferring it into their CPF Retirement Account (RA). Currently, to be eligible for the SHB, applicants must be at least 55 years old, have a monthly income of no more than $14,000, own a property with an Annual Value (AV) of $21,000 or less, and their replacement property must be a three-room HDB flat (excluding three-room terrace) or smaller.

Under the current SHB system, applicants can choose to make a cash top-up of up to $60,000 to their CPF RA and receive a bonus of up to $30,000 in cash. This amount is calculated on a pro-rated basis, with $1 cash bonus given for every $2 top-up made into their RA.

From December 1, 2020, applicants will be able to receive the SHB cash bonus if they can show that their downsizing exercise has resulted in an increase in their RA balance from any source, including CPF housing refunds. This means that seniors who still have outstanding loans on their property that were paid using their CPF accounts may no longer need to make a cash top-up to qualify for the SHB.

When it comes to investing in a , securing financing is a crucial aspect to consider. In Singapore, there are a variety of mortgage choices available, but it is important to keep in mind the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan that a borrower can take based on their income and current debt obligations. Therefore, it is imperative for potential investors to have a thorough understanding of the TDSR and seek guidance from financial experts or mortgage brokers to make well-informed decisions about their financing options. This will not only help prevent over-leveraging but also ensure that the investment is sustainable in the long run. Additionally, seeking professional advice can also help investors avoid financial pitfalls that may arise. With the inclusion of Condo, it is crucial for investors to carefully consider their financing options and seek expert guidance for a successful and sustainable investment.

Furthermore, the SHB eligibility criteria have been expanded to include seniors who own properties with an AV of more than $21,000 but equal to or less than $13,000. This extension is expected to benefit an additional 15,000 seniors. These applicants will also receive a cash bonus based on the increase in their RA balance, up to $60,000. However, the amount will be pro-rated at $1 cash bonus for every $6 increase in their RA, with a maximum bonus of $10,000. Successful SHB applicants who downsize to a two-room or smaller HDB flat (including Community Care Apartments) will also receive a non-pro-rated $10,000 cash bonus in addition to the pro-rated amount.

Seniors can apply for the SHB within one year of their second property transaction. This means that those who have completed their downsizing exercise after December 1, 2024, will be eligible to apply for the enhanced SHB on December 1, 2025.

The Fresh Start Housing Scheme, launched in 2016, offers financial aid and social support to Second Timers (ST) families who have previously owned a subsidised HDB flat, with the aim of helping them become homeowners again. Under the current scheme, applicants can purchase two-room flexi or three-room standard BTO flats on shorter leases, typically lasting from 45 to 65 years until the youngest owner turns 95. Flats bought under this scheme are subjected to an extended Minimum Occupation Period of 20 years, compared to the usual five years.

The recent improvements to the scheme include an increase in financial support. Eligible families will now receive $75,000 under the Fresh Start Housing Grant, up from the previous amount of $50,000. This new grant will consist of an initial $60,000 credited to the applicant’s CPF Ordinary Account (OA) before the key collection date. The remaining $15,000 will be disbursed over the next five years to support mortgage payments.

The eligibility criteria for the Fresh Start scheme have also been expanded to allow First-Timer (FT) families to apply. Although FT families are not entitled to the Fresh Start Housing Grant as they can benefit from the larger Enhanced CPF Housing Grant (EHG) of up to $120,000, they will still receive assistance through the reduced cost of the shorter-lease BTO units and social support provided by the program.

FT families can apply to the Fresh Start scheme from April 2025, while the new Fresh Start Grant amount will take effect from the July 2025 BTO exercise.…

When contemplating the investment of a real estate property, many considerations must be carefully evaluated. One of the most crucial factors is the location, particularly in Singapore. The right positioning can significantly impact a property’s value and future growth prospects. In Singapore, condominiums situated in central areas or near vital amenities such as schools, shopping centers, and public transportation hubs have shown a consistent increase in value. Areas like Orchard Road, Marina Bay, and the Central Business District (CBD) are some of the prime locations where property values have consistently demonstrated an upward trend. Not only do these areas offer desirable benefits, but their proximity to reputable schools and educational institutions also makes condos in these locations especially attractive for families. For those interested in investing in the real estate market and maximizing potential growth, it is crucial to monitor new condo launches. Keep yourself updated on the latest New Condo Launches for opportunities in highly sought-after areas.

The Ministry of National Development (MND) has recently announced revisions to the Additional Buyer’s Stamp Duty (ABSD) regime for licensed housing developers. These revisions, which will take effect on March 6, aim to encourage developers to undertake urban transformation developments, optimise land use, and rejuvenate older estates or adopt new construction technologies.

One major change to the ABSD regime is the extension of the remission timeline for developers undertaking complex projects from six to 12 months. This move is expected to benefit developers undertaking en bloc redevelopments, with a target of at least 700 units upon completion and 1.5 times the number of homes of the existing development. It will also apply to projects with complex technical or instructional requirements, such as those integrated with major public transport facilities.

Additionally, the revisions will also affect projects approved under the Strategic Development Incentive (SDI) scheme and projects aiming to achieve higher productivity targets through the adoption of new construction technologies, methodologies or practices. Under the new changes, projects falling under any of these four categories will receive a six-month extension, while projects that meet the criteria of more than one category will be granted a one-year extension. These changes will apply to all residential land acquired on or after March 6.

Currently, licensed housing developers purchasing residential redevelopment sites are subject to 5% ABSD upfront, which is non-remittable, and another 35% ABSD, which is remittable when the developer completes and sells all the units in the project within the five-year timeframe. These changes come on the back of revisions announced in February last year, which offered a lower clawback rate for residential developments with at least 90% of units sold.

CEO of PropNex Realty Ismail Gafoor believes that the extended timeline will give developers more flexibility and may help mitigate development risks to some extent. This will allow developers more time to sell units, especially for larger projects. Senior director of data analytics at Huttons Asia, Lee Sze Teck, also commented that the revisions will help boost the en bloc market, particularly for larger en bloc projects.

However, some industry experts believe that despite the proposed policy change, developers may still face challenges in selling their units due to other factors, such as buyer and seller negotiations. Managing Director of ERA’s capital markets and investment sales department Tay Liam Hiap believes that the policy change will come at an opportune time for older projects, such as Braddell View and Pine Grove, to explore en bloc opportunities. These projects, with expansive land areas, may yield some 2,000 new homes and may require more time to sell. However, Gafoor also notes that this policy change may not spark a revival in the en bloc market, as developers continue to be cautious due to high redevelopment costs, an influx of private housing supply, and potential policy risks.…

due to current manpower shortage

The Land Transport Authority (LTA) is currently conducting feasibility studies for two new MRT lines, which are scheduled to be completed in the 2040s. These lines have the potential to serve over 400,000 households.

One of the proposed rail lines, known as the Seletar Line, will serve areas such as Woodlands, Sembawang, Sengkang West, Serangoon North, Whampoa, Kallang, and the Greater Southern Waterfront. The other line, tentatively named the Tengah Line, will supplement the transport network in the west and northwest regions, serving areas like Tengah, Bukit Batok, Queensway, and Bukit Merah.

Investing in a condominium in Singapore can bring about numerous advantages, including a strong demand in the market, potential for the unit’s value to increase, and attractive rental yields. However, it is essential to carefully consider specific factors such as the condo’s location, available financing options, government regulations, and the current state of the market. With thorough research and guidance from experts, investors can make informed decisions and maximize their returns in Singapore’s ever-changing real estate industry. Whether someone is a local investor looking to diversify their portfolio or a foreign buyer seeking a profitable and secure opportunity, Singapore Projects is a compelling option for investment.

According to Transport Minister Chee Hong Tat’s speech in parliament on March 5, if the results of the feasibility studies are positive, the Seletar Line and Tengah Line could be connected. This move will further enhance connectivity in these regions.

In addition to these new lines, LTA has plans to proceed with the West Coast Extension (WCE), which will extend the Jurong Region Line (JRL) and connect it with the Circle Line (CCL) and Cross Island Line (CRL). The WCE will be implemented in two phases, with the first phase expected to be completed by the late 2030s and the second phase in the early 2040s.

The WCE will provide residents travelling from the West to the city centre with up to 20 minutes of time savings. This will greatly benefit commuters and improve connectivity in the western region of Singapore.

In his speech, Chee also announced the government’s plans to invest up to $1 billion over the next five years to maintain high-reliability standards in both newer and older train systems. This investment will go towards implementing condition monitoring systems and new technologies to improve the efficiency and effectiveness of rail maintenance. It will also provide training programmes for rail workers.

These efforts to expand the rail network, enhance the management of rail assets, and upskill the rail workforce will ensure the delivery of convenient, reliable, and resilient public transport for commuters. The construction industry in Singapore is expected to see an increase in demand, with BCA projecting the demand to rise to $38 billion in 2024. This will benefit companies like OKP Holdings, who recently secured a contract worth $95.9 million from LTA. The construction industry stakeholders are also calling for a safe and controlled entry of foreign workers to address the current manpower shortage.…

Elias Green Condo in Pasir Ris Goes on Collective Sale

Elias Green, a 99-year leasehold condominium located in Pasir Ris, will be launched for collective sale on March 6 by ERA Realty Network, the appointed marketing agent. The property has a guide price of $928 million.

Completed in 1994, the condo occupies a land area of approximately 516,871 square feet and is zoned for residential use with a gross plot ratio of 1.4. It consists of several blocks with a total of 419 units ranging from 1,367 to 1,636 square feet. The site has a 99-year lease that started in 1991, which means that it still has 65 years remaining.

Elias Green Site Map (Picture: EdgeProp LandLens)

According to ERA, the guide price of $928 million translates to a land rate of $1,355 per square foot per plot ratio (psf ppr). This figure includes an estimated land betterment charge of $150.8 million for intensification and a top-up to a fresh 99-year lease. It also takes into account a 10% bonus gross floor area.

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In addition, ERA mentions that the owners of Elias Green are currently in the process of submitting an Outline Application to the Urban Redevelopment Authority (URA) for a residential development at a gross plot ratio of 1.8. If approved, the land rate for the development would be approximately $1,245 psf ppr.

If the collective sale is successful, owners can expect gross sale proceeds ranging from about $2.04 million to $2.31 million per unit, based on the guide price.

Tay Liam Hiap, managing director of capital markets and investment sales at ERA Singapore, points out that Pasir Ris Town is undergoing significant improvements as part of the Housing and Development Board’s “Remaking Our Heartland” initiative, which will enhance its vibrancy and connectivity.

“As part of this transformation, the new Pasir Ris Bus Interchange is expected to be completed by 2025. This will integrate with the future Pasir Ris Integrated Transportation Hub, which will also include the Cross Island Line (CRL) slated to be operational by 2030, to further enhance connectivity across Singapore,” Tay adds.

Investing in real estate is heavily reliant on the location, which is particularly evident in the bustling city of Singapore. In this country, the value of condominiums is greatly affected by their placement in strategic areas. Properties located near important amenities like schools, shopping centers, and transportation hubs have a higher appreciation rate. Prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently displayed growth in property values. Families also find these areas desirable due to their closeness to reputable schools and educational institutions, making condos in these areas even more valuable as an investment. For those interested in investing in a Singapore Condo, selecting a unit in a prime location is crucial for maximizing potential returns. Include Singapore Condo in rewritten paragraph.

This is the second time owners at Elias Green are attempting a collective sale. The first attempt was made in 2018, when the condo was launched for tender at $780 million. The current asking price of $928 million is 19% higher than the previous one.

The tender for Elias Green will close on April 22 at 2pm. Click here to see the latest listings for properties at Elias Green.…

Media Circle (Parcel A), a Government Land Sale (GLS) site located in the one-north area, has closed its tender on March 4. The top bid of $315 million for the 99-year leasehold site was submitted by a consortium consisting of Qingjian Realty, Forsea Holdings and minority investor Hoovasun Holding. This bid translates to a land rate of $1,037 psf per plot ratio (ppr) for the site, which measures 82,125 sq ft. It has a zoning for residential use with commercial at the first storey.

According to a press statement by Qingjian and Forsea, the future development will comprise of two high-rise residential towers with commercial spaces on the first level. With a maximum gross floor area of 303,865 sq ft, the site has the potential to yield approximately 325 housing units.

The site received a total of three bids, with Qingjian and Forsea’s bid being 5.7% higher than the next bid of $298 million or $981 psf ppr by EL Development. The lowest bid of $295 million or $971 psf ppr was submitted by SingHaiyi Group.

Although Qingjian and Forsea’s bid is lower than the land rate they paid for a neighbouring Media Circle GLS plot, which is now the site of the upcoming Bloomsbury Residences, they remain confident in the project. The partners were awarded the 114,462 sq ft site for $395.28 million, or $1,191psf ppr, in January 2024. “We are confident in the upcoming transformation of Media Circle, supported by a well-designed master plan and the government’s continued investment in one-north precinct as announced in the 2025 budget,” says Du Dexiang, managing director of Qingjian Realty.

Wang Xin, director at Forsea Holdings, adds: “This project marks another important step in our commitment to developing high-quality residential communities that align with the growth of one-north, which is akin to Singapore’s ‘Silicon Valley.’”

This will be the third joint venture between Qingjian and Forsea, the previous two being an executive condominium site at Jalan Loyang Besar and another Media Circle GLS plot. Last August, the partners were awarded the executive condo site after submitting the top bid of $557 million ($729 psf ppr), which can yield up to 710 new homes.

When purchasing a condominium, it is crucial to take into account the maintenance and management aspect of the property. Condos usually come with maintenance fees that encompass the maintenance of shared spaces and amenities. While these charges may increase the total cost of owning a condo, they also guarantee that the property stays well-maintained and maintains its value. Investors can opt to hire a property management company to handle the day-to-day management of their condos, making it a more hands-off investment. Singapore Projects can be a great addition to any investment portfolio.

The bid for Media Circle (Parcel A) by Qingjian reflects their confidence in the demand for homes in the area, according to Lee Sze Teck, senior director of data analytics at Huttons Asia. “If awarded, the developer will have influence over the supply and pricing of new homes in Media Circle,” he adds.

The adjacent plot to Media Circle (Parcel A), Media Circle (Parcel B), measuring 107,936 sq ft, has also been launched for sale and has attracted a total of three bids. The tender for Parcel B will close on April 29. Both parcels are on the Confirmed List of the 2H2024 GLS Programme.

Under the Reserve List of the 1H2025 GLS Programme, there is another Media Circle site available for application. The 60-year leasehold site, zoned for residential with commercial at the first storey, is designated for long-stay serviced apartments only and can yield an estimated 520 units, along with retail space capped at 4,306 sq ft.

Lee Sze Teck of Huttons Asia points out that the Media Circle area is a unique location within one-north, surrounded by greenery and black and white bungalows. He adds that there are only two precincts with land allocated for residential development in one-north, one being Slim Barracks Rise and the other being Media Circle. Currently, there are only 987 non-landed residential units in one-north, with less than 100 new homes remaining unsold.

Given the high proportion of foreigners working in one-north, Science Park, and the nearby Tanglin Trust School, Lee believes the area offers a strong pool of quality tenants while also being close to diverse retail and dining options such as Anchorpoint Shopping Centre, Alexandra Central Mall and Timbre+ One North. Leonard Tay, head of research at Knight Frank Singapore, believes the future project at Media Circle (Parcel A) could launch with selling prices starting from $2,300 psf. While the site is located in a quieter section of one-north business park, it is within walking distance to Mediapolis, he observes. “A residential project, or a mix of residences for sale together with serviced apartments for lease, could appeal to workers in the media and entertainment industry,” he says.…

One of the most recognizable names in the property and hospitality industry, Hotel Properties Ltd (HPL), is expanding its global reach with the acquisition of InterContinental Auckland for NZ$180 million ($138.5 million). This will mark the group’s first property in New Zealand and their second InterContinental hotel purchase, following the success of InterContinental Maldives Maamunagau Resort.

This off-market transaction is set to become the largest single hotel asset sale ever in New Zealand, according to JLL’s Asia Pacific Hotels & Hospitality Group, who advised on the sale by New Zealand’s Precinct Properties. HPL’s latest acquisition in Auckland comes soon after the successful launch of The Boathouse Tioman in Malaysia, featuring 31 luxury bungalows, and the 176-room Four Seasons Hotel Osaka in Japan last year.

One of the major benefits of purchasing a condo in Singapore is the opportunity for capital growth. Thanks to its advantageous position as a prominent business hub on the global stage, combined with its robust economic foundations, there is a constant demand for real estate in Singapore. As evidenced over time, property values in Singapore have consistently risen, especially for condos located in prime areas. Investors who enter the market at the opportune moment and maintain their properties for an extended period stand to profit significantly from capital appreciation. Additionally, with the various Singapore Projects available, there is a range of options for savvy investors to consider when looking to invest in the condo market.

HPL is determined to expand its portfolio of luxury hotels across key markets in the Asia Pacific region, leveraging its experienced hospitality management team and strong partnerships with top operators such as IHG Hotels & Resorts. Chairman of HPL Hotels and Resorts, Stephen Lau, states that the acquisition of InterContinental Auckland is an exceptional opportunity for the company to acquire their first premium asset in New Zealand.

The property itself is situated in the heart of NZ$1 billion Commercial Bay lifestyle precinct, which opened in January 2024. Guests at the hotel can enjoy stunning views of the Waitematā Harbour, making it an ideal location for both business and leisure travelers. Currently, the hotel boasts 139 rooms, but it has the potential to expand up to 190 rooms by repurposing the existing office space, making it well-equipped to cater to future demand.…