Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project

Shui On Land, a Hong Kong-listed property company, has entered a joint venture with Shanghai Pucheng, a state-owned enterprise, to complete a redevelopment project located in Pujiang Town, in Minhang district of Shanghai, China. The project aims to restore the area’s unique historical and cultural identity and redevelop Zhaojia Lou Ancient Town into a “new landmark of Shanghai”.

The location, known for its canals and water towns, is already a popular tourist destination with an AAAA rating from Chinese authorities and over 500,000 visitors per year. It is conveniently located next to the Shanghai Shenjiahu Expressway, the Shanghai North-South Elevated Road, and two subway lines.

The joint venture between Shui On Land and Shanghai Pucheng will redevelop land parcels that stretch to Jiageng Road to the east, Yaojia Bang to the south, Huichi Road to the west, and Xiaoyan Lake to the north. The new development will include residential, commercial …

Five-bedder at Parc Stevens sold for $2.65 mil profit

The most profitable condo resale transaction recorded during the week of April 4 to 11 was the sale of a first-floor unit at Parc Stevens, a condo on Stevens Drive, off Stevens Road in prime District 10. A 3,466 sq ft, five-bedroom unit was sold for $7.86 million ($2,265 psf) on April 10, 16 years after it was bought for $5.2 million ($1,500 psf). This means the seller netted a profit of $2.65 million (51%) and it marks the highest psf-price recorded at Parc Stevens and the second most profitable transaction ever recorded at the development.

It is also the first unit to change hands this year at the 48-unit freehold condo which was completed in 2000. It comprises three lowrise blocks spanning four storeys each and consists of a mix of three- to five-bedders ranging from 1,722 to 3,466 sq ft. The condo is a five-minute walk to the …

CapitaLand Ascendas REIT divests local industrial building at 219% premium from 2005 purchase price

The manager of CapitaLand Ascendas REIT (CLAR) has announced the divestment of Singapore industrial building KA Place for a consideration of $35.38 million. According to an April 20 filing, the REIT’s trustee, HSBC Institutional Trust Services (Singapore), has entered into a sale and purchase agreement to sell KA Place to KA Place SPV 1.

The consideration sum is impressive, representing a 219% premium to CLAR’s purchase price of $11.1 million in March 2005 and a 55% premium to the property’s market valuation of $22.8 million as at Dec 31, 2022.

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

The proposed divestment is in line with the manager’s proactive asset management strategy to improve the quality of CLAR’s …

Ascott targets to double fee revenue to over $500 mil in next five years

In the next five years, The Ascott Limited – the lodging business unit of Capitaland Investment – aims to double its fee revenue to more than USD500 million, off a base of USD258 million achieved in FY2022, which is its highest earnings on record. This growth was buoyed by robust signings and property openings, with the business having already achieved its target of securing 160,000 units by 2023 with the signing of over 4,000 new units in 1QFY2023.

Units span serviced residences, hotels, co-living and senior living brands that are positioned in the mid to luxury range. The fee revenue will be augmented by an anticipated growth rate of 8-10% annually over the next five years, driven by both new property openings and new signings.

CEO of Ascott and Capitaland Investment (CLI) Lodging, Kevin Goh, was optimistic, noting that “Ascott has doubled in units every five years, growing from about …

EL Development draws 4,000 at three-day preview of Blossoms By The Park

, The Star Vista mall, and the Greater Southern Waterfront on EdgeProp.sg
Over the past three days since its sales gallery opened on April 14, Blossoms By The Park has attracted 4,000 visitors, mostly locals, according to EL Development’s Managing Director Lim Yew Soon.

Set in one-north, the 275-unit private condo includes a mix of one- to four-bedroom units. Prices for its units start from $1.291 million for the one-bedroom-plus-study unit, $1.499 million for a two-bedroom, and from $1.585 million for a two-bedroom-plus-study. Three-bedroom dual-key units come in from $2.082 million, while three-bedroom units begin from $2.279 million. For the four-bedroom units, they start at $2.921 million, with four-bedroom premium units being from $3.335 million.

The launch is scheduled on April 29 and according to SRI Managing Partner Ken Low, the estimated average sale price will lie in the range of $2,350 to $2,400 psf. The project, mainly ideal for …

The Myst Condo CDL Located Near to Hillion Mall and Beauty World MRT Station

The Myst Condo CDL Located Near to Hillion Mall and Beauty World MRT Station

The Myst Condo provides residents with all of the benefits of city living, whilst also offering the peace and quiet of a suburban lifestyle. Located close to a variety of amenities, this condo makes life easier for families, with schools and medical centres located nearby, as well as banks, supermarkets and other essential services within easy reach. Few places boast the same combination of convenience and tranquility, making this condo an ideal choice for those who want a balance of the two.

The Myst by CDL is a mid-sized condominium project designed to provide residents with an exclusive living experience. With top-notch facilities and amenities, including a 50-meter pool, a spacious clubhouse, and tennis courts, it offers an ideal setting for families with children. Located within a short driving distance to well-known educational institutions such as Bukit Panjang Primary, CHIJ, National University of Singapore, and Ngee Ann Polytechnic, The Myst …

Exploring the Advantages: Benefits of Living in Proximity to Bukit Panjang Integrated Transport Hub

Bukit Panjang Integrated Transport Hub is a major transport hub in Singapore. Located in the western part of the country, it is a hub for transportation of people and goods from the city center to other parts of Singapore. This transport hub has many advantages and benefits for those who reside in its vicinity.

One of the main advantages of living near the Bukit Panjang Integrated Transport Hub is the convenience it offers. Residents can access public transport quickly and conveniently. Bus services, MRT lines, and LRT lines all converge here, making it easier for people to travel around the city. Additionally, the transport hub is also connected to the Bukit Panjang LRT station, which makes it easier for people to travel to other parts of Singapore. This makes it an ideal place for people who need to commute daily between their homes and workplaces.

Another advantage of living near …

Critical Appraisal: Evaluating the Investment Profitability of Bukit Panjang Properties

Bukit Panjang is a thriving residential area in Singapore located at the north-western end of the island. As a result, it has become an attractive investment proposition for those looking to buy or rent property in the area.

Critical appraisal is an important process for investors to evaluate the profitability of their investments. This involves assessing the current market conditions in the area, understanding the local economy and the demand and supply of properties, and assessing the potential return on investment (ROI).

When conducting a critical appraisal of Bukit Panjang properties, investors should first look at the current market conditions. This includes identifying the current market prices, rental yields and any other factors that may affect the value of the properties. Investors should also compare the prices of similar properties to gauge the current market value.

Secondly, investors should look at the local economy, local population and the demand and …

A Comprehensive Analysis: An Investor’s Guide to Promising Real Estate Projects in Singapore

Singapore is a highly sought-after destination for real estate investors, and with good reason. The country has a robust infrastructure, a vibrant economy and a strong legal system. It is also one of the safest places in the world to invest in real estate, making it an attractive option for both international and domestic investors.

The real estate market in Singapore is highly competitive and can be intimidating for new investors. However, with the right information and research, it is possible to identify promising projects and make sound investments. The following is a comprehensive guide to help investors understand the local market and identify the best real estate projects in Singapore.

First, investors should familiarize themselves with the different types of real estate investments in Singapore. The country offers a wide range of investment options, from residential properties to commercial buildings, from industrial properties to hospitality projects, and from land …

Bukit Timah Condominiums: The Ideal Choice for Parents Seeking Homes Close to Schools

Bukit Timah condominiums are a great choice for parents looking for a place to live close to schools. Located in the heart of Singapore, Bukit Timah is known for its close proximity to some of the city’s most prestigious schools. It is also home to a variety of amenities, from shopping malls to parks, providing parents with plenty of options for leisure activities and entertainment.

One of the advantages of living in Bukit Timah is the convenience of having schools located close to the condominiums. With a variety of educational institutions nearby, parents can ensure that their children receive a quality education without having to commute long distances. From primary schools to international schools, Bukit Timah has something to offer everyone.

The area also offers plenty of recreational activities for parents and their children. Centrally located parks and gardens provide a great opportunity to get out and explore nature. The …