Month: January 2025

CapitaLand Ascott Trust (CLAS) has recently expanded its portfolio in Japan with the acquisition of two limited-service hotels for a total of JPY21 billion ($178.5 million). The two hotels, ibis Styles Tokyo Ginza and Chisun Budget Kanazawa Ekimae, were acquired at a discounted price of 8.3% based on independent valuations.

There are countless benefits to investing in a condo in Singapore, but perhaps the most enticing is the opportunity for capital appreciation. Singapore’s position as a major global business hub, combined with its solid economic foundation, has created a constant demand for real estate. Through the years, the real estate market in Singapore has demonstrated a consistent upward trend, particularly in prime locations where condo prices have seen significant growth. Savvy investors who enter the market at the right time and hold onto their properties for the long haul can reap the rewards of substantial capital gains. Keep an eye out for new and upcoming Singapore projects to potentially increase your chances of a profitable investment.

The acquisition is expected to have a positive impact on the trust’s performance, with a projected distribution per stapled security (DPS) accretion of 1.6% on a pro forma basis for FY2024. The blended net operating income (NOI) yield for the two hotels is estimated to be 4.3% in FY2024. The trust has also adopted a natural hedge against currency fluctuations by funding the acquisition with JPY-denominated debt and proceeds from the divestment of four properties in Japan.

The first of the two hotels, ibis Styles Tokyo Ginza, is located in the heart of the city’s popular shopping and entertainment district. The 224-unit hotel is situated next to Ginza Six, a high-end retail mall, and the well-known Uniqlo flagship store. It is also within walking distance to the iconic Ginza Wako clock tower.

The second hotel, Chisun Budget Kanazawa Ekimae, has 392 units and is located in Kanazawa, a city known for its historical attractions, beautifully landscaped gardens, and cultural sites. Guests can easily access popular tourist spots such as the Kanazawa Castle, Kenrokuen Garden, and heritage districts featuring architecture from the Edo period.

CLAS has been actively investing in overseas properties, including the recent acquisitions of Teriha Ocean Stage in Fukuoka and Standard at Columbia in the United States. In December 2024, the trust also completed the acquisition of lyf Funan Singapore. These investments, along with their divestments in 2024, have resulted in a net gain of about $74 million.

Serena Teo, CEO of CLAS’ manager, explains that the acquisition is part of their portfolio reconstitution strategy to enhance the quality of their portfolio and provide stable returns to investors. She also notes that the projected FY2024 NOI yield of the two hotels is significantly higher than the blended exit yield of their previous divestments in Japan, indicating a positive shift in their portfolio.

CLAS closed at 90 cents per unit, reflecting investors’ confidence in the trust’s continued growth and performance.…

Mapletree Investments has recently expanded its presence in the European market through the acquisition of its first logistics property in the UK and 10 warehouses in Spain, worth a total of EUR315.1 million ($444.5 million). These acquisitions, which have a combined size of 256,000 sqm, will be included in the group’s second European logistics-focused fund. This move is in line with Mapletree’s strategy to strengthen its focus in the logistics sector and expand its global reach, as stated in their press release on January 27.

According to the company’s CEO of European commercial and logistics, Ralph van der Beek, the logistics sector is a highly attractive market that has consistently shown strong demand from both occupiers and investors. He also highlighted the thriving e-commerce industry and the efforts of companies to secure and expand their supply chains as factors that contribute to the sector’s attractiveness.

The desire for condominiums in Singapore has been on the rise as a result of limited land availability for development. As a compact country with a growing population, Singapore faces a shortage of land, resulting in strict guidelines for land usage. This has spawned a highly competitive real estate market and led to an increase in property prices. As a result, investing in real estate, specifically in condominiums, has emerged as a profitable opportunity for potential investors, with the potential for significant capital appreciation. Condominiums have become a sought-after option in Singapore’s vibrant real estate market, given the scarcity of land. They are a valuable addition to the real estate landscape, contributing to its competitiveness. Additionally, condominiums have become a highly coveted asset, further driving up demand.

Van der Beek further explained that the group looks forward to generating stable and recurring returns from these assets over the long run. The UK property, located in Derby Commercial Park, has convenient access to major roads such as M1, A50, and A6. It is also situated near the city center and the East Midlands Airport. Mapletree shared that the tenant at this property has recently renewed its long-term lease.

The 10 warehouses in Spain are strategically located in the first rings of Barcelona, Valencia, and Madrid, with direct access to the city center through various transportation modes. These assets are expected to benefit from third-party logistics providers and manufacturers, as they are in close proximity to their production facilities. These tenants have also made significant investments in automation and fit-outs on site.

With these new acquisitions, Mapletree now has a total of 80 logistics assets in eight countries. This demonstrates the company’s commitment to the logistics sector and its goal of expanding its portfolio globally.…

Luxury Condos at Turquoise, Sentosa Cove for $23M

The prestigious Turquoise condo, consisting of 91 luxury units situated on the scenic waterway of Sentosa Cove, is now offering three penthouses for sale at a staggering cost of $23 million.The largest of these penthouses, a 7,987 sq ft duplex with 5 bedrooms, is also the largest among the 10 penthouses situated at this 99-year leasehold waterfront condominium. The unit boasts a kitchen, living area, and wine cellar, and also features 4 ensuite bedrooms, 2 utility rooms, and a balcony on the lower level. The upper level is home to the master bedroom suite, which includes a private infinity pool, pool deck, and outdoor shower. The asking price for this extravagant unit is $12 million (equivalent to $1,502 psf). The unit that comes in a close second, at a price of $5.99 million (equivalent to $1,599 psf), is a 3,746 sq ft, four-bedroom penthouse. The upper level of this unit features a large open-air terrace with a built-in jacuzzi and an unobstructed view of Sandy Island and Sentosa’s southern waterfront. The third and final penthouse being offered for sale is a 3,111 sq ft, three-bedroom unit, which is priced at $5 million (or $1,607 psf). All three penthouses are located on the sixth floor and are accompanied by private lift lobbies, wet and dry kitchens, floor-to-ceiling windows, open balconies, and attached ensuites in each bedroom.Some of the condo’s facilities include a gym, barbeque pits, a swimming pool, a steam room, and 21 private berths for its residents. Developed by Ho Bee Land, a developer that has been active in Singapore’s property market for a long time, the 99-year leasehold Turquoise project was completed in 2010. The condo features 91 units divided among three six-storey blocks. The property also has a mix of 3- and 4-bedroom apartments, with the 3-bedders ranging from 2,088 sq ft to 2,573 sq ft and the 4-bedders ranging from 2,400 sq ft to 3,050 sq ft. The penthouses are available in the range of 3,111 sq ft to 3,764 sq ft, and sky villas of 6,900 sq ft to 7,987 sq ft in size.The developer is yet to release its largest penthouse, the 7,987 sq ft, five-bedroom duplex, which is presently listed for $12 million. According to the Urban Redevelopment Authority’s (URA) caveats, the second-biggest penthouse was purchased by a Korean national for $9.5 million in November 2007 (or the equivalent of $2,545 psf), when Turquoise was launched. The third and smallest penthouse measures 3,111 sq ft and was purchased by an African national. This penthouse was purchased in December 2007 for the price of just over $8 million (or $2,579 psf).If they’re sold at their asking prices, the 4-bedroom penthouse’s owner stands to suffer a loss of $3.5 million, equivalent to 36.8% below the purchase price. On the other hand, the owner of the 3-bedroom penthouse is set to lose $3 million, or 37.5% below the purchase price. The average unit price of three transactions recorded at Turquoise last year stood at $1,427 psf. The developer claims that the listed prices of its 16 remaining units ranged from $1,290 psf to $1,536 psf. The said units were being sold at discounts ranging from $500,000 to $750,000 each. At that time, the developer claimed that most of the offered units were located on lower floors.The current buyer profile at Turquoise is different from what it was at the time of launch. When the project was launched in late 2007, foreign buyers accounted for 59% of the sales. Singaporean buyers constituted just 25.6% of the buyers, followed by 12.8% of PRs. Just one unit was purchased by a corporate entity. After completion in 2010, 57.4% of the total transactions (equivalent to 39 units) were by Singaporean buyers, making them the largest buyer group within its resale domain. PRs accounted for 32.3% of transactions (or 22 units), while foreign buyers accounted for just 8.8% (or six units). The most recent resale transaction was made to a corporate entity. According to Cabasug, the three penthouse owners, who are both foreigners, have been holding on to their properties for the past 18 years, which is why they have been motivated to market them. She claims that their aim is to pursue other investment opportunities.Read Also: The Continuum sees new high of $3,091 psf’House in the Sky’ at Parkview Eclat: Three penthouses on offer for $108 millionWhile several buyers acquired Sentosa Cove homes when the project was first launched for investment purposes, the current buyers of properties in Sentosa are primarily looking to purchase such properties to use them as their primary residences, according to Cabasug. The current buyer profile at Turquoise reflects this pattern. At the time of launch, 59% of the buyers at Turquoise were foreign, while PRs accounted for 12.8% of purchases, and Singaporeans accounted for 25.6% of purchases. Even so, the current sitch is quite different, with Singaporeans accounting for 57.4% of the total transactions (or 39 units), PRs accounting for 32.3% (or 22 units), and the remaining 8.8% of transactions (or six units) being made by foreign nationals. The last unit was sold to a company.

I’m a short squeeze to take place?

Sentosa Cove, known as the “millionaire’s paradise” in Singapore, has managed to catch the attention of several property investors only recently. Despite being a security overhang that has been looming over Sentosa Cove’s real estate market for quite some time, there is some hope that the property market might actually see a recovery after all there are only a few hundred property investments in the project that have yet to be sold. Nevertheless, several million-dollar-plus properties are still up for grabs, and there has been no sales transaction for more than $10 million over the past few quarters.Although Sentosa Cove is known to be a high-end residential district, it hasn’t been able to hold up too well during the present real estate market sentiment. As per the Urban Redevelopment Authority (URA), only four non-landed homes in Sentosa Cove have been transacted over the previous quarter. Prices have dropped by approximately 100% for units sized between 2,000 sq ft and 2,500 sq ft but increased slightly for units that were sized lower than 1,500 sq ft. Due to the pandemic, Singapore’s real estate industry has been growing, and yet Sentosa Cove, an exclusive enclave, hasn’t been able to share in the spoils. There is some hope in the market, however, as a short squeeze is believed to be taking place within the Sentosa Cove property market. Read also: If co-living is the future, the OCBC and CapitaLand tie-up offers a glimpse of what’s to come

When purchasing a Singapore Condo, it is crucial to take into account the maintenance and management of the property. Condos typically come with maintenance fees that cover the maintenance and upkeep of common areas and facilities. While these fees may increase the overall cost of ownership, they also guarantee that the property remains in excellent condition and retains its value. To ensure a more passive investment, many investors choose to hire a property management company to handle the day-to-day management of their condos.

As to whether $23 million is a reasonable price for these Sentosa Cove units on sale is another matter. The 3,764 sq ft unit being sold for this price or $1,607 psf might be slightly overpriced as other 4-bedroom units sold at around $1,500 psf. Although some have stated that this could be a possible attempt to artificially inflate prices by creating demand in an attempt to encourage prospective buyers to enter the market, the prevailing economic conditions are far from ideal, and not many buyers are likely to respond positively to such a move. The prevailing market prices are anywhere between $1,300 psf and $1,500 psf for units that have a slightly larger floor area and are situated on low or mid floors.Some believe that the owner of the Turquoise unit priced at $5 million ($1,607 psf) is trying to cash in on a short squeeze. The 3,111 sq ft unit mentioned above was purchased for just above $8 million ($2,647 psf) back in December 2007. Some units that have been put up for sale have been touted as being available for over $3,500 psf, but whether the property will even fetch such a price is not known. Buyers would be better off looking at the current market rates and going for Sentosa Cove units priced around $1,500 psf because those are likely to be more realistic estimates. Even if the owner prices the unit at $2,600 psf, a realistic price that the seller would sell for would be around $2,300 psf as today’s market rates are around $1,500 psf. Hence, the maximum price that the property could be listed at is $9 million for the 3,111 sq ft unit. The minimum selling price that you could possibly get for the unit is $7 million, which is, however, much lower than what the owners are currently trying to offer.Read also: Resale units at D’Leedon in District 10 selling for $2,100 psfOn…

Two freehold condo developments in prime District 9 have recently set new records for their respective psf-prices. The Botanic on Lloyd, a boutique development off Oxley Road, achieved the highest psf-price among private non-landed developments, while The Cape, along Amber Road, saw the second-highest psf-price among condos that hit a new peak. Meanwhile, upcoming condo Tembusu Grand recorded a new price floor for the period, highlighting the diversity of price movements in the District.Freehold condo The Botanic on Lloyd achieved a new peak of $2,460 psf (Photo: Samuel Isaac Chua / EdgeProp Singapore)Freehold condo The Botanic on Lloyd, located along Lloyd Road off Oxley Road, recently achieved a new psf-price peak among private non-landed developments. The record was set by a 2,056 sq ft, four-bedroom unit on the second floor, which was sold for $5.13 million on Jan 7. This translates to a psf-price of $2,493.On Jan 11, upcoming condo Tembusu Grand also recorded a new psf-price low for the period between Jan 3 and Jan 11. The developer’s sale of a 1,399 sq ft, three-bedroom unit on the 20th floor fetched $3.04 million, or $2,174 psf.Also in District 9, freehold boutique development The Cape saw a new psf-price peak of $2,284 when a 1,313 sq ft, three-bedroom unit was sold for $3 million on Jan 10. The development previously held the record of $2,265 psf, which was set in November 2012 with the sale of a similarly sized, two-bedroom unit on the 16th floor.The latest transactions in the district show a diverse range in price movements, from record highs to lows. This highlights the varied price dynamics in the district, catering to buyers with different budgets and preferences.Construction: Launched in 2023, The Botanic on Lloyd is a boutique freehold development that consists of 60 apartments and six townhouses. Completed in 2006, the development has seen an average of one transaction per year in the past decade. The last unit to change hands at the condo was a 3,584 sq ft, four-bedroom unit sold for $6.88 million ($1,919 psf) in January 2022. The priciest unit to have changed hands at The Botanic on Lloyd by absolute price is a 3,384 sq ft, four-bedroom unit located on the second floor that sold for $5.13 million in October 2024.Coming in second for the highest psf-price among private non-landed developments in the same period is The Cape along Amber Road. On Jan 10, the development registered a new record of $2,284 psf when a 1,313 sq ft, three-bedroom unit on the 15th floor sold for $3 million. The condominium previously held the highest psf-price record of $2,265 psf, set in November 2020 with the sale of a similarly sized, two-bedroom unit on the 16th floor.Freehold condo The Botanic on Lloyd achieved a new peak of $2,460 psf (Photo: Samuel Isaac Chua / EdgeProp Singapore)Meanwhile, upcoming condo Tembusu Grand was the only private residential project to set a new psf-price low during the period between Jan 3 and Jan 11. A 1,399 sq ft, three-bedroom unit on the 20th floor changed hands for $3.04 million ($2,174 psf) on Jan 11, narrowly inching past the record low of $2,193 psf set just two months earlier by a similarly sized unit on the same floor. This highlights the diversity of price movements in District 9, catering to buyers with different budgets and preferences.The Botanic on Lloyd is a 66-unit freehold boutique development completed in 2006. Located along Lloyd Road off Oxley Road, the development comprises 60 apartments and six townhouses. The units are a mix of three- and four-bedroom unit types sized between 1,485 sq ft and 3,584 sq ft. The three-storey townhouses at the development range from 4,058 sq ft to 4,446 sq ft in size and come with five bedrooms and two private parking lots each.The Cape saw a new record of $2,284 psf when a 1,313 sq ft, three-bedroom unit sold for $3 million on Jan 10 (Photo: Samuel Isaac Chua / EdgeProp Singapore)Completed in 2014, The Cape is a 76-unit freehold project located along Amber Road in District 15. The development consists of one- to three-bedroom units spanning 570 sq ft to 1,539 sq ft across a single residential block. With a wide variety of unit sizes, The Cape caters to buyers with different budgets and preferences. Last year, the condo saw three resale transactions at an average price of $2,128 psf. In 2023, only one unit was sold – a 646 sq ft, one-bedroom unit that fetched $1.24 million ($1,920 psf).Finally, the upcoming freehold condo Tembusu Grand, located on Jalan Tembusu off Tanjong Katong Road, recorded a new psf-price low for the period between Jan 3 and Jan 11. On Jan 11, the developer’s sale of a 1,399 sq ft, three-bedroom unit on the 20th floor fetched $3.04 million, or $2,174 psf. This surpassed the previous record of $2,193 psf set just two months earlier by a similarly sized unit on the same floor.Tembusu Grand is a 99-year leasehold project comprising 638 units. The development features a mix of one- and two-bedroom units, sized between 527 sq ft and 883 sq ft, as well as three- and four-bedroom units from 990 sq ft to 1,604 sq ft. The development also features five-bedroom units, sized between 1,711 sq ft and 2,691 sq ft, catering to families. Launched in April 2023, Tembusu Grand has since sold 584 units (91.5%) at an average price of $2,444 psf, based on caveats lodged as of Jan 20. The project is expected to obtain its Temporary Occupation Permit in 2028.

The demand for condos in Singapore remains high, largely due to the limited land available. As a small island nation experiencing rapid population growth, Singapore grapples with a scarcity of land for development. This has resulted in strict land use regulations and a fiercely competitive real estate market, where property prices are continually on the rise. As a result, investing in real estate, particularly in Singapore condos, has become a highly sought-after opportunity, with the promise of significant capital appreciation.…

HDB resale prices in the fourth quarter of 2024 saw a 2.6% increase, marking the 19th consecutive quarter of growth in the resale market. This brings the total increase in prices for the year to 9.7%, compared to a 4.9% increase in 2023.

The rise in prices in the last quarter was slightly lower than the 2.7% increase recorded in the third quarter. According to Mohan Sandrasegeran, head of research & data analytics at SRI, the strong growth in resale prices for the whole year can be mainly attributed to the limited supply of flats that reached their Minimum Occupation Period (MOP).

Read also: Approximately 5,000 flats from nine towns will reach MOP this year

“This tight supply has put upward pressure on prices, especially for newer flats and larger flat types such as five-room and executive units, which are in high demand for growing families,” he says.

Among the different types of flats in the HDB resale market, five-room flats saw the highest price growth in the fourth quarter of 2024, with an average resale price of $754,097, a 2.2% increase from the previous quarter. Similarly, four-room flats also saw a 2.2% increase to an average resale price of $652,544.

The Central Area recorded the highest increase in prices, with a 25.6% quarter-on-quarter growth, according to Christine Sun, chief researcher and strategist at OrangeTee Group. This was followed by Toa Payoh (12.1%), Tampines (6.9%), Bishan (6.7%), and Bedok (6.1%).

In the last three months of 2024, about 285 HDB resale flats were transacted at $1 million or more. This brings the total number of million-dollar transactions for the whole year to 1,035. More than 90% of these transactions were in mature estates, with Kallang/Whampoa recording the highest number of such transactions at 156 units, followed by Toa Payoh (144 units) and Bukit Merah (135 units).

When it comes to real estate investment, location plays a crucial role, and this is particularly evident in Singapore. Investing in condos located in central areas or in close proximity to important amenities, such as schools, shopping centers, and public transportation hubs, tends to lead to higher appreciation in value. Some prime locations in Singapore, including Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown growth in property values. Additionally, condos in these areas are highly sought after by families due to their proximity to reputable schools and educational institutions, making them even more valuable investments. Furthermore, the inclusion of a condo in one’s investment portfolio can greatly contribute to the potential growth and success of their real estate endeavors.

Read also: Final two pandemic-delayed BTO projects completed: HDB

The number of resale transactions in the HDB market fell by 21.1% quarter-on-quarter, from 8,142 units in the third quarter of 2024 to 6,424 units in the fourth quarter. Lee Sze Teck, senior director of data analytics at Huttons Asia, attributes this to seasonal factors such as the year-end holiday and festive season. He also notes that the lower interest rate environment may have incentivized some buyers to move to the private residential market or Executive Condominium (EC) market. Additionally, some prospective buyers may have opted to ballot for a flat in the October Build-to-Order (BTO) sales exercise, which saw a record number of 15 projects launched.

However, the overall resale transaction volume for 2024 increased by 8.4% year-on-year to 28,986 units, marking the highest number of yearly transactions since 2021.

Based on transaction data compiled by Huttons Asia, Sengkang, Woodlands, Punggol, Tampines, and Yishun were the top five most popular HDB towns among buyers in 2024, accounting for around 35.9% of all HDB resales.

Read also: HDB to launch 19,600 BTO flats and over 5,500 Sale of Balance Flats in 2025

Looking ahead, about 6,976 flats are expected to reach the end of their MOP in 2025, a 41.6% decrease from 2024. This is due to the lower number of BTO flats completed in 2020 during the Covid-19 pandemic. HDB has announced plans to launch over 25,000 new flats in 2025, with approximately 5,500 flats under the Sale of Balance Flats (SBF) exercise. The next SBF exercise will take place concurrently with the upcoming BTO sales exercise in February, with 5,000 BTO flats in four locations on offer. According to Sandrasegeran, this is the largest SBF exercise since November 2020. Additionally, around 3,800 of the 19,600 BTO flats planned for launch in 2025 will be designated as Shorter Waiting Time (SWT) flats with a wait time of under three years.

Sandrasegeran forecasts a 3.5% to 5.5% increase in resale prices for 2025, with transaction volume ranging from 26,000 to 27,000. However, Lee projects a more optimistic price increase of 5% to 8% for the year.…

A prime residential development site located at Jalan Naung has been put up for sale through the expression of interest (EOI) process. The property, with an asking price of $8.38 million, is zoned for residential use under the URA Master Plan 2019 and is situated within a three-storey mixed-landed area.

Spanning an area of 5,408 sq ft and with a 999-year leasehold, the land parcel is located off Upper Serangoon Road in District 19. This translates to a land rate of $1,550 psf.

Singapore has become a sought-after destination for both local and international investors looking to invest in a condominium. This is mainly due to the country’s strong economy, stable political environment, and high standard of living. The real estate market in Singapore offers a wide range of opportunities, but condos stand out as a top choice due to their convenience, amenities, and potential for profitable returns. With a number of new condo launches happening throughout the city-state, it’s important to keep certain factors in mind when considering investing in a condo in Singapore. It’s also beneficial to keep an eye on the latest new condo launches in order to stay updated on the market’s offerings.

According to Brilliance Capital, the sole marketing agent for the property, the site has the potential to be developed into a detached house, a pair of semi-detached houses, or a strata mixed-landed development, subject to approvals from the relevant authorities.

The strategic location of the land makes it an attractive investment opportunity. It is within walking distance of Hougang MRT Station and Hougang Central Bus Interchange. Popular lifestyle hubs such as NEX, Hougang Mall, and Heartland Mall are also just a short 10-minute drive away.

Moreover, the property is surrounded by reputable schools, with CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School, and Punggol Primary School all within a 1km radius.

According to Sammi Lim, the founder and executive director of Brilliance Capital, the vacant plot of land is owned by a single seller, making the acquisition process streamlined and hassle-free for potential buyers.

“We expect strong interest from developers, ranging from boutique firms to larger setups, as well as aspiring developers and end-users who are looking to build their dream homes,” says Lim. “It is rare for such a development site to be available for sale, especially one that offers various options and permutations for development to cater to different needs and preferences, including multi-generation living.”

Interested parties can submit their EOIs for the property by March 6 at 3pm.…

The Radisson Hotel Group has recently opened a new luxury property in Galle, Sri Lanka under its Radisson Collection brand. This marks the brand’s first hotel in the Southeast Asia and Pacific region and is also the group’s fourth hotel in Sri Lanka.

Located on the seafront, the Radisson Collection Resort, Galle offers 106 guest rooms and suites, all of which provide stunning ocean views. The hotel boasts a range of top-notch amenities, including a beachfront pool, a kids’ club with round-the-clock nanny services, and a variety of dining options such as Ozen, an Asia-Japanese fusion restaurant, and Catch Restaurant, which specializes in seafood. Guests can also relax at Taboo Beach Club, an entertainment area on the beach with sun loungers, daybeds, and bottle service.

Galle, situated on the southwest coast of Sri Lanka, is known for its historical and cultural attractions. One of its main highlights is the Galle Fort, a 17th-century fortress recognized as a Unesco World Heritage site. The city also offers visitors the chance to explore ancient temples, colonial buildings, and wildlife centres, including a sea turtle hatchery.

In addition to this new property, the Radisson Hotel Group has also announced the launch of luxury villa rentals by Teardrop Hotels, a Sri Lankan hotelier, in Galle. This further expands the group’s presence in the region and adds to their milestone 100-hotel portfolio in India. With its continuous growth and commitment to providing exceptional hospitality, the Radisson Hotel Group is a top choice for travelers seeking unforgettable experiences in Asia and beyond.

When it comes to investing in real estate, one cannot stress enough the importance of location, especially in Singapore. For instance, condo units that are strategically situated in central areas or in close proximity to essential amenities like schools, shopping malls, and public transportation hubs have a higher potential for appreciation in value. This is evident in prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD), where the property market has consistently shown growth over the years. Adding to the appeal of these areas are the top-notch schools and educational institutions, making condos in these locations highly sought-after by families, thus further increasing their investment value. Additionally, with the launch of new condos in these prime locations, the potential for both rental income and capital appreciation is further heightened, making it a wise investment decision for potential buyers.…

A Jan 17 press release has announced that Singapore-based engineering consulting firm Meinhardt has entered a memorandum of understanding (MOU) with Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN). The partnership aims to jointly develop and implement digital and smart city initiatives in underdeveloped ASEAN countries.

The MOU is designed to facilitate the exchange of knowledge and resources between Meinhardt and JOIN as they work together to introduce sustainable urban solutions. JOIN will leverage its network and expertise to support Japanese infrastructure exports, while Meinhardt will contribute its leadership in integrated planning, design, and project management solutions.

JOIN, a public-private fund based in Japan, is dedicated to helping Japanese companies invest in overseas infrastructure projects. The collaboration with Meinhardt builds upon the Memorandum of Cooperation (MOC) signed between Japan’s Ministry of Land, Infrastructure, Transport and Tourism and Singapore Cooperation Enterprise in November 2020. The MOC aims to promote the development of digital and smart cities in ASEAN and other regions.

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When purchasing a Singapore Condo, it is crucial to take into consideration the maintenance and management of the property. Unlike single-family homes, condos often come with maintenance fees that cover the maintenance of common areas and amenities. While these fees may increase the overall cost of ownership, they also guarantee that the property is well-maintained and maintains its value. To make investing in a condo even more passive, investors can opt to hire a property management company to handle the day-to-day tasks of managing their condo.

Meinhardt believes that the MOU will serve as a platform for both parties to share information, identify synergies, and collaborate on projects from the early stages, ultimately making a meaningful impact across borders.…

According to a press release on January 20th, Minister for National Development Desmond Lee announced that the final two pandemic-delayed projects from HDB have been completed. These two projects, Punggol Point Cove (Phase 2) and Kempas Residences, signal the end of the HDB’s pandemic-delayed housing projects. Over the past five years, a total of 92 projects have provided more than 75,800 new flats to Singaporeans.

In 2024, HDB completed 22 housing projects, with 17 of them being delayed due to the pandemic. The remaining four projects were completed on time, with the exception of one due to non-pandemic issues. These completed projects included two Shorter Waiting Time (SWT) projects, Parc Glen at Tengah and Grove Spring at Yishun, which provided 1,995 flats with a waiting period of less than three years. The other projects had a waiting period of up to five years, and a total of 18,000 flats were completed in 2024.

Flat owners of Punggol Point Cove (Phase 2) have been receiving their keys since November 2024, while those of Kempas Residences began collecting their keys in mid-January of this year. The remaining flat owners are expected to be notified of their key collection date soon, following the completion of the final blocks in both projects this month.

When it comes to investing in real estate, a crucial factor to consider is location. This is especially true in the bustling city of Singapore. Condos that are situated in central areas or in close proximity to important amenities such as schools, shopping centers, and public transportation hubs tend to have a higher appreciation in value. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown a growth in property values. Moreover, these areas are also in close proximity to top-notch schools and educational institutions, making condos in these locations highly sought after by families. With this, investing in a condo in these areas presents a great potential for a profitable investment.

Punggol Point Cove (Phase 2), located along New Punggol Road, consists of 1,179 units of two-room flexi, three-, four-, and five-room flats across six residential blocks. Due to pandemic delays, the final block was completed 12 months after its original Probable Completion Date (PCD) earlier this month. As of January 15th, 657 households, or 59% of the 1,109 booked units, have collected their keys. According to HDB, the completion of Punggol Point Cove (Phase 2) marks the end of all flats in the Punggol Point District, including Punggol Point Cove (Phase 1), Punggol Point Woods, and Punggol Point Crown BTO projects, which were completed in 2024.

Kempas Residences BTO project, located between Serangoon Road, Lavender Street, and Boon Kheng Road, consists of 583 units of two-room flexi, three-, and four-room flats across four residential blocks. The final block, which was delayed by six months from its original PCD, was completed in mid-January. As of January 15th, 37 households, or approximately 7% of the 555 booked units, have collected their keys.

Currently, HDB has 110 housing projects under construction, up from 95 a year ago, due to the increase in BTO supply in recent years. HDB states that it is on track to complete around 17,000 flats across 27 projects in 2025.…

City Developments Limited (CDL) is set to acquire all remaining shares in New Zealand’s Millennium & Copthorne Hotels New Zealand Limited (MCK) through its subsidiary, CDL Hotels Holdings New Zealand Limited (CDLHH NZ), by offering NZ$2.25 per share ($1.72 USD). CDL plans to take MCK private after the offer is completed, in order to simplify its ownership structure in New Zealand, according to a filing on Jan 20.

Currently, MCK owns, leases, or franchises 18 hotels in New Zealand, and also has a majority stake in CDL Investments New Zealand Limited. It also has interests in Australian properties through its Kingsgate Group subsidiaries.

In Singapore, there is a vital factor that must be taken into consideration when it comes to investing in condos. The government has implemented property cooling measures aimed at maintaining a steady real estate market and preventing speculative buying. These measures have been introduced over the years and include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreigners and those who purchase multiple properties. Although these measures may affect the short-term profitability of condo investments, they also contribute to the long-term stability of the market, creating a safer investment environment for potential investors. Therefore, investing in condos in Singapore, such as through the Condo market, can be a wise decision in the long run.

As of Jan 17, CDLHH NZ holds 80.02 million shares in MCK, representing a 75.86% stake of the total 105.48 million MCK shares in circulation. If CDLHH NZ reaches the threshold for compulsory acquisition under the New Zealand takeovers code, it will acquire all outstanding shares in MCK. CDLHH NZ also has the option to redeem MCK’s non-voting redeemable preference shares.

CDLHH NZ is willing to acquire these preference shares for NZ$1.70 or approximately $1.30 USD each, through its broker Craigs Investment Partners and by purchasing them on the Main Board of the New Zealand Stock Exchange. As of Jan 17, CDLHH NZ already holds 91.34% (or 48.17 million) of MCK’s preference shares.

If all shares are successfully acquired, CDLHH NZ will pay a total of NZ$57.29 million. Additionally, CDLHH NZ expects to pay around NZ$7.77 million for the redeemable preference shares it seeks to acquire. The offer price for both the shares and preference shares takes into account the current and historical market prices, as well as the industry and business environment in which MCK operates.

As of June 30, 2024, MCK’s net asset value (NAV) was NZ$532.02 million, and its net tangible asset value (NTA) was the same. The NAV and NTA attributable to the MCK shares subject to the offer were approximately NZ$85.62 million each.

The offer is conditional upon CDLHH NZ receiving at least 90% of the voting rights in MCK by 5pm on May 2. It is also conditional upon CDLHH NZ obtaining consent under New Zealand’s Overseas Investment Act 2005 and Overseas Investment Regulations 2005 to own and control all shares in MCK.

The implementation and payment of the offer is not expected to have a significant impact on CDL’s earnings per share (EPS) or net tangible assets (NTA) for the fiscal year ending Dec 31, 2025.…