Month: February 2025

Mandarin Gardens has just recorded its most profitable condo resale transaction to date, with a four-bedroom unit fetching $4.88 million, or $1,284 psf, on Feb 11. The previous record was held by a four-bedroom unit that sold for $4.1 million in September 2021.

Mandarin Gardens has achieved its most profitable resale transaction to date on Feb 11 by earning $3.83 million profit from selling a 3,800 sq ft unit at $1,284 psf. According to URA records, the eighth-floor unit last changed hands for $1.05 million ($276 psf) in June 2003. This translates to an annualised capital gain of 7.4% over 21½ years. After the recent transaction, the development has recorded another transaction with profit and surpassing the previous record with 364.8% of their original purchase price in just 17 years.

The second most profitable resale transaction was recorded at Parvis, a freehold development in December 2021. The 3-bedroom unit of 2,260 sq ft was transacted at $4.78 million($2,115 psf) in Feb 10. The seller earned a profit of $2 million (71.9%) from the deal or an annualised gain of 3.6% over 15 years. As Parvis is a 12-storey development comprising of 248 residential units, it has two luxury residential towers of 43 and 34 storeys. Amenities include concierge services, a gym, a lap pool and a sky pool on the 35th floor.

On the same period, the most unprofitable transaction was recorded at Scotts Square with a loss of $745,880 (19.5%) that sold at $3.08 million ($3,252 psf) on Feb 13. It had last changed hands for about $3.83 million ($4,039 psf) in December 2007. This translates to an annualised loss of 1.3% over 17 years. As Scotts Square is a mixed-use freehold development located along Scotts Road in the Orchard shopping belt, the average price of resale units has been trending downwards since its 2007 launch according to EdgeProp’s analytical tools. Based on a 12-month rolling average, prices peaked at $4,054 psf in July 2007 before reaching a floor of $3,330 psf in August 2020.

Mandarin Gardens and Parvis has achieved its most successful resale transactions in 17 and 15 years respectively with 3.6%-7.4% annualised capital gain. On the other hand, the average resale price of units at Scotts Square has been reported to decrease since its launch in 2007.

Investing in a condo in Singapore presents many advantages, with one of the most notable being its potential for capital appreciation. Thanks to its strategic position as a global business center and its robust economic conditions, the demand for real estate in Singapore remains consistently high. This has led to a steady upward trend in property prices over the years, particularly in prime locations where condos have seen significant appreciation in value. For savvy investors who enter the market at the right time and hold onto their properties for the long haul, the potential for substantial capital gains is highly promising.…

During the period of Feb 7 to 16, the sale of a two-bedroom unit at Hill House has set a new record high psf-price for private condos. The 999-year leasehold development reached a new peak of $3,398 psf when a 452 sq ft unit on the eighth floor was sold by the developer for $1.54 million on Feb 16. This transaction marginally surpassed the previous high of $3,378 psf set on Feb 11 when another 452 sq ft, two-bedroom unit on the eighth floor was sold for $1.53 million.

Hill House is a boutique condo in prime District 9, comprising 72 units and launched in 2022. The development is located at the top of Institution Hill, off River Valley Road, and features 40 one-bedroom units of 431 sq ft, 24 two-bedroom apartments ranging from 452 sq ft to 624 sq ft, and eight three-bedroom apartments spanning 753 sq ft.

To find out the latest transaction prices and available units, search for the latest New Launches.

The second spot on the list of private condos achieving new psf-price highs during the period is taken by the 999-year leasehold condo The Tresor. A resale transaction of a 1,421 sq ft unit on the fifth floor set a new high of $2,625 psf when it was sold for $3.73 million on Feb 10. This surpassed the previous peak of $2,501 psf set in March 2024, when a 1,399 sq ft, three-bedroom unit on the second floor was sold for $3.5 million.

This transaction marks the first resale at The Tresor in a year, based on caveats lodged.

The Tresor, completed in 2007, comprises 62 units of two-, three-, and four-bedroom apartments ranging from 990 to 2,896 sq ft. It is located just a five-minute walk from Tan Kah Kee MRT Station on the Downtown Line and within walking distance of Coronation Shopping Plaza, Serene Centre, Adam Food Centre, and the Singapore Botanic Gardens.

The third spot on the list is taken by Jadescape, where a 1,647 sq ft, four-bedroom unit on the 22nd floor was sold for $4.05 million on Feb 7, setting a new record of $2,459 psf for the District 20 development. This surpasses the previous record of $2,446 psf set in January when a 1,259 sq ft unit on the 10th floor was sold. In terms of absolute price, the most expensive resale unit to date is a 4,230 sq ft, six-bedroom penthouse unit that fetched $10.2 million ($2,399 psf) in December 2024.

Jadescape, completed in 2022, comprises 1,206 units across seven residential towers. It is located at the junction of Marymount Road and Shunfu Road and features one- to five-bedroom apartments ranging from 527 sq ft to 2,099 sq ft, as well as two penthouses of 4,230 sq ft. The condo is within walking distance of Marymount MRT Station on the Circle Line and a four-minute walk from Sin Ming Plaza.

When it comes to investing in Singapore, purchasing a condo can offer a lucrative opportunity for capital appreciation. Due to its advantageous position as a global business hub and a stable economy, Singapore consistently experiences a high demand for real estate. As a result, the property market has consistently shown an upward trend, with prime locations for condos seeing significant appreciation over time. For investors who enter the market at the optimal moment and hold onto their properties for the long term, the potential for substantial capital gains is promising. With the availability of various Singapore projects, there are plenty of options for investors to choose from to secure their desired property for potential growth.

Data compiled on EdgeProp Research indicates that Jadescape commands one of the highest average transacted prices among condos within a 1km radius. The average transacted price of Jadescape units for transactions in the last 12 months stands at $2,192 psf, compared to other nearby condos such as Tresalveo on Marymount Terrace, 183 Longhaus on Upper Thomson Road, and Thomson V Two on Sin Ming Road, which have average transacted prices ranging from $1,712 psf to $1,912 psf across the same period. All three of these developments are freehold.

No new psf-price lows were recorded during the period. To check out the latest listings for Hill House, The Tresor, and Jadescape properties, ask Buddy about them.…

When purchasing a condominium, one must not overlook the importance of its maintenance and management. Usually, condos have associated maintenance fees that encompass the maintenance of shared spaces and amenities. While these fees may increase the total expenses, they serve to maintain the property’s quality and uphold its value. Utilizing the services of a property management company can assist investors in managing their condos on a regular basis, making it a more effortless investment. Additionally, Singapore Projects can also be a valuable option to consider for potential investments.

CT Pemimpin: A Gem in Land-Scarce Singapore
Chiu Teng Group has established a reputation for developing quality commercial and industrial spaces in Singapore. Their latest offering – CT Pemimpin, a freehold development, is sure to delight property investors and business owners looking for an exceptional opportunity in the land-scarce city state.

Located at 43 Jalan Pemimpin in the Central Region, CT Pemimpin is a nine-storey, partial ramp-up factory with 56 strata-titled units and three canteen units. Selected units on the first and fifth levels have mezzanine floors and floor heights ranging from 5.6m to 7.35m.

Rare Freehold Status
With most industrial developments in the market being limited to a 30-year or 60-year lease, the freehold status of CT Pemimpin is a standout feature. Moreover, buyers of commercial and industrial properties are not subject to Additional Buyer’s Stamp Duty, making it an attractive option for investors and eligible foreigners.

Kelvin Fong, Deputy CEO of PropNex Realty, says, “Being a freehold development in this centralised location, it will be good investment asset to both investors and end-users.”

Generous Amenities
CT Pemimpin boasts a one-to-one carpark ratio with 59 lots, including two electric vehicle lots, three lorry lots for smaller vehicles, and two handicapped lots. The building will be well-served by two passenger lifts and a service lift. Each unit has its own private toilet, providing convenience for occupants.

Ken Low, SRI managing partner, says, “One of the standout perks of CT Pemimpin is the carpark lot allocated for each of the 59 units, offering convenience for business owners. This will ensure seamless accessibility and time-saving.”

Centralised Location
Situated in District 20, CT Pemimpin is surrounded by well-established townships such as Bishan, Upper Thomson, and Ang Mo Kio, making it highly popular with buyers and tenants. Its strategic location offers excellent accessibility and connectivity to all parts of Singapore, with three MRT lines serving the area.

Doris Ong, Deputy CEO of ERA, says, “Owning a freehold property in Singapore’s central region isn’t just a smart investment – it’s a strategic business asset. Positioned in one of the city’s most dynamic and prestigious locations, it offers an impressive corporate address, unmatched connectivity, and enduring potential for growth.”

Green Features
CT Pemimpin will be designed with thoughtful ‘end-of-trip’ facilities, including a shower room, bicycle racks, and storage lockers. Other green features include a sky garden with two rooftop pavilions for outdoor gatherings, rooftop solar panels, and EV charging stations. The building will also have water-saving fittings, motion-sensor lighting, and double-glazed windows (selected units) for sustainability.

Mark Yip, CEO of Huttons Asia, says, “CT Pemimpin aims to shape a greener and more committed future with its sustainable features such as water-saving fittings, double-glazed windows, and many other green features. The development is perfect for industries ranging from e-commerce, media houses, telecommunications, to software development.”

Established Developer
Chiu Teng Group, set up in 1999, is a reputable property developer and builder with a portfolio of successful industrial and residential projects such as CT FoodNEX, CT Foodchain, The Creek@Bukit, Tagore8, and CT Hub & Hub 2.

CT Pemimpin is open for preview until March 5, 2025. Secure your rare freehold industrial space today by calling 8100 8017 or visiting Chiu Teng Group to arrange a viewing.

Don’t miss out on this opportunity to own a gem in land-scarce Singapore!…

Two Contiguous Retail Units at Sim Lim Square Listed for Auction

Two adjacent retail units located on the third floor of Sim Lim Square will be the highlight of ERA’s upcoming auction on 27 February, with a combined guide price of $3.38 million.

With a guide price of $2.08 million or $2,171 psf, the larger unit measures 958 sq ft while the smaller unit measures 570 sq ft and has a guide price of $1.28 million or $2,246 psf.

This sale, which is the owner’s first time listing the units in ERA’s auction, gives buyers the opportunity to purchase the units together or separately. According to Assistant Vice President of Auction and Sales at ERA, Alison Lee, the units have been listed with competitive prices. “They are priced slightly below the market average in order to encourage a quick sale.”

Based on EdgeProp Singapore’s data analysis, retail units at Sim Lim Square have an average transacted price of $2,997 psf in the past 12 months. In December 2024, a 592 sq ft shop located on the ground floor was sold for $1.92 million or $3,241 psf.

Known for its wide range of electronics, gadgets and computer parts, Sim Lim Square has established itself as a tech hub. The development also features various other businesses such as eateries and traditional Chinese medicine shops.

Both of the retail units up for sale are currently tenanted and are generating a monthly rental income of around $4.50 psf. Rental data from EdgeProp Singapore indicates that retail units at Sim Lim Square can yield anywhere between $4.20 psf and $7.30 psf every month, based on an average of 12 months.

In order to make informed decisions about investing in Singapore Condos, it is important to consider the government’s property cooling measures. Through the years, the Singaporean government has implemented various policies aimed at controlling speculative buying and maintaining a stable real estate market. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those looking to purchase multiple properties. While these measures may have an impact on the immediate profitability of Singapore Condo investments, they also play a critical role in ensuring the long-term sustainability of the market, making it a more secure environment for investment.

The owners of Sim Lim Square had tried to sell the development through a collective sale attempt in April 2019 at a reserve price of $1.25 billion. However, it was relaunched in December at the same price, but did not see any success in finding a buyer.

In 2022, a collective sale committee was formed to explore the option of a second attempt, but it never materialised. Another committee is now being formed by Lee to investigate the potential for a collective sale in the near future.

Sim Lim Square, situated on Rochor Canal Road in District 7, is a commercial development comprising a total of 492 units spread across six floors and two basement levels. Built in 1987 with a 99-year leasehold that started in 1983, it sits on a land area of 78,152 sq ft. The Downtown Line’s Rochor and Jalan Besar MRT Stations are within walking distance, and the Bugis MRT Interchange links the East-West and Downtown Lines.…

wifi“Retiree Mr Chong has provided support for his three sons when they were setting up their homes. While his eldest son had purchased a private condo, his two younger sons had opted for the more affordable option of executive condos (ECs). According to Chong, purchasing an EC during its launch is an obvious choice as it offers a good entry price. He recalls how his second son had bought a three bedroom unit at the 531-unit Hundred Palms Residences, which was launched in July 2017. However, he was not able to get a four-bedroom unit as they were quickly sold out. The project by Hoi Hup Realty received a whopping 2,000 e-applications and was completely sold out on the first day of its launch. The average price for an EC on Yio Chu Kang Road was $841 per square foot (psf) and was later completed in 2019. With the average price of units sold in January and February 2025 at $1,769 psf, the project saw a 110% price gain in just eight years. This substantial capital gain has motivated many to upgrade to private housing, says Chong. However, when Chong’s youngest son decided to set up his own home three years ago, Chong seized the opportunity to sell his family home of ten years — a 1,260 sq ft, three-bedroom unit at The Interlace. Then in 2021, the Chongs bought a four-bedroom dual-key resale unit in the 418-unit Twin Fountains in Woodlands. The EC project was completed in 2016 by a joint venture between Frasers Property and Lum Chang. Due to new restrictions, only Singapore citizens and permanent residents (PRs) are able to purchase ECs during its launch and are able to sell them in the resale market after the 10th year of obtaining Temporary Occupation Permit (TOP). This dual-key unit in Twin Fountains allows Chong the privacy of occupying the one-bedroom studio while his son and family occupy the three-bedroom apartment. It has a shared main entrance, but each apartment has a separate entrance. Despite purchasing at $1,000 psf, which was considered a record high, the Chongs have still seen a 30% increase in resale prices at Twin Fountains, mentions Chong. In October last year, City Developments launched the 348-unit private condo Norwood Grand at Champions Way in Woodlands. Its prices set a new benchmark for the area, with 84% of the units being sold during its launch weekend at an average price of $2,067 psf. According to Chong, this launch has generated renewed interest in the northern region following news of revitalisation and new infrastructure, such as the Johor Bahru-Singapore Rapid Transit System (RTS) with the Singapore terminus in Woodlands North. While EC prices continue to rise, caps on loan quantum mean that buyers will need to shell out a larger upfront payment, says Eugene Lim, ERA Singapore’s key executive officer. Buyers will also have to meet the Mortgage Servicing Ratio (30% cap) and Total Debt Servicing Ratio (55% cap) requirements when taking a loan. He adds that assuming a 30-year-old buyer with a household income of $16,000 and a maximum loan tenure of 30 years, the maximum loan amount for the buyer is estimated to be around $1 million if based on the stress test of a 4% interest rate for the MSR. As for the price gap, there is still a 42% median price gap between EC and non-landed private condo units in the Outside Central Region (OCR), notes Lim. For instance, a 900-1,000 sq ft EC unit has a median price of $1.48 million, while a similar-sized private condo unit has a median price of $2.1 million. The pricing factor, along with the fact that buyers do not need to dispose of their existing homes before making their purchase, help to sustain demand for ECs, he says. This is especially true for HDB owners who do not need to pay additional buyers’ stamp duty (ABSD) when purchasing a new EC. Furthermore, EC buyers are able to opt for the Deferred Payment Scheme (DPS) and pay a slightly higher purchase price. Under the DPS, buyers only need to pay a deposit, with their loan being deferred until the EC is completed. This helps them avoid servicing two mortgages while waiting for their new home to be completed. ERA’s Lim adds that the slow and strategic roll out of new EC launches across different locations — Tampines, Pasir Ris, and Tengah — will cater to the housing needs of Singaporeans. Lastly, OrangeTee Group’s chief researcher and strategist Christine Sun found that the price gap between ECs and 99-year leasehold private condos in the OCR has narrowed in recent years. The gap was 49.4% in 2023, 44.2% in 2024, and 43.6% in January 2025. She believes that the rising prices of ECs, which have increased by 9.6% from 2023 to January 2025, are the main reason for this gap narrowing. The increase is significantly higher than the 5.3% increase for 99-year leasehold private condos in the OCR over the same period. According to Sun, buyers find ECs a more affordable option compared to 99-year leasehold private condos in the same area. Additionally, higher costs and regulations mean that buyers now have to shell out more upfront costs when purchasing an EC. Despite this, buyers are still not deterred by the higher prices of ECs due to their greater affordability and lower pricing psf. The abundant availability of ECs that do not require ABSD and offer the DPS also help to sustain demand. The upcoming launch of three new EC projects this year is also expected to cater to the needs of buyers across the island. As such, demand for ECs is set to continue in the future.”

Investing in real estate is a decision that requires careful consideration, and one of the key factors to keep in mind is location. This is particularly true in the case of Singapore. Condos located in central areas or in close proximity to essential amenities, such as schools, shopping malls, and public transportation hubs, have a tendency to appreciate in value. Prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently shown growth in property values over the years. Families are drawn to these areas due to their accessibility to good schools and educational institutions, making condos in these locations highly sought after and increasing their investment potential. As you consider investing in Singapore, keep in mind the importance of location, and consider exploring options such as Singapore Condos in these prime areas.…

‘Market value of branded residential projects in Asia hits record US$26.6 billion

Asia’s branded residential sector has reached a record value of US$26.6 billion, according to data from C9 Hotelworks, an Asia-based hospitality consultancy. This represents a significant increase from previous years, with over 68,000 luxury units currently available across the continent.

Leading the way in branded residential units is Vietnam, with 17,680 units across 59 properties. These units have an average price of around US$350 per square foot (psf). Thailand comes in second place with 16,271 units across 65 properties, with an average price of US$510 psf. The Philippines follows closely behind with 13,276 units across 46 properties, priced at approximately US$400 psf.

However, the highest priced branded residences in Asia are found in Singapore, where they command a price of US$2,140 psf. They are followed by Japan with an average price of US$1,935 psf.

According to Bill Barnett, managing director of C9 Hotelworks, new markets such as South Korea and Malaysia have also seen rapid growth in the branded residential sector. South Korea currently has 3,026 units across 16 properties, while Malaysia has 6,014 units across 24 projects.

In the post-Covid-19 era, urban-locale branded residences make up the majority of the market, accounting for 56% of the existing supply in Asia. These luxury urban projects dominate in terms of market value, with urban branded residences in South Korea priced at US$2,670 psf, while resort projects sell for US$1,040 psf. In Thailand, urban branded residences fetch around US$770 psf, compared to US$430 psf in resort locations.

The branded residential market in Asia consists of about 12,330 units across 80 developments affiliated with luxury hotel brands, accounting for 31% of the market supply. According to Barnett, the data shows that a reputable brand can help a property command a premium of 30%-35% on top of the market rate. This also helps the developer increase its market share in the country.

An important factor to keep in mind when considering investing in Singapore Condo is the government’s property cooling measures. The Singaporean government has implemented various measures over the years to control speculative buying and maintain a stable real estate market. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may affect the short-term profitability of condo investments, they also contribute to the long-term stability of the market, making it a more secure investment environment.

The appeal of top hospitality brands and other luxury lifestyle brands has led to an increase in licensing fees, with luxury brands now asking for a 6% to10% cut in the sale of each branded residential unit.

Last August, Thai developer Ananda Development and German automaker Porsche unveiled the ultra-luxury Porsche Design Tower Bangkok in Thonglor. The 22-unit tower, expected to be completed in 2028, is the first Porsche residential tower in Asia. It offers duplexes and quadplexes, with prices ranging from US$15 million to US$40 million.

According to Gianfranco Bianchi, general manager of Asia Pacific at The One Atelier, an international design consultancy specializing in branded residences for lifestyle brands, more luxury lifestyle brands have explored partnerships to license their branding into real estate developments across the Asia Pacific region in recent years.

One Atelier has partnered with several high-profile brands to create branded residences, including the Fendi Casa Residences by Armani in Miami, 888 Brickell by Dolce & Gabbana in Miami, Büyükyalı Residences in Istanbul, and the Karl Lagerfeld Villas in Marbella, Spain.

Hospitality-affiliated branded residences provide top-notch services, while fashion or design-branded residences offer a rare trophy home that conveys the namesake design and luxury aesthetic that have made such brand names synonymous with luxury lifestyles today, says Bianchi.

Ananth Ramchandran, head of advisory and strategic transactions for hotels and hospitality in Asia at CBRE, notes that property cooling measures have led many high-net-worth Singapore-based buyers of branded residences to consider trophy assets in nearby regional markets.

He adds that luxury branded residences in destinations such as Phuket, Bangkok, Bali, and emerging markets in Vietnam are increasingly attracting Singapore-based buyers due to their proximity and short travel time.

Jason Thelen, senior director of sales and marketing at Sudara Residences, a Thai-based developer, adds that Singapore has quickly become their top regional market for buyers looking for second homes. In fact, Singapore buyers make up over 45% of regional purchases.

Saowarin Chanprakaisi, vice-president of business development at The Ascott, says that The Ascott’s reputable brands like Ascott, The Crest Collection, and Oakwood Premier have a strong presence in the market. The company is looking to expand its market share by partnering with developers who want to enter the branded residential market.…

Investing in a Singapore Condo has become an increasingly popular option for both local and foreign investors, thanks to the city-state’s strong economy, stable political climate, and exceptional quality of life. With a thriving real estate market, Singapore offers a wealth of investment opportunities, with condos emerging as a top choice for their convenience, amenities, and potential for excellent returns. In this article, we will delve into the advantages, considerations, and steps to take when investing in a condo in Singapore.

Malaysia-based UEM Sunrise and Singapore-listed GuocoLand have announced a groundbreaking collaboration under the first-ever Johor-Singapore Special Economic Zone (JS-SEZ) MOU between private companies from both countries. The signing ceremony was held on Feb 27 and marks a significant milestone for the development of the JS-SEZ.

The partnership will see both developers join forces to develop UEM Sunrise’s selected freehold landbank in Iskandar Puteri, Johor. The goal is to accelerate growth within the JS-SEZ and enhance the overall appeal of the area. The signing of the MOU was held in conjunction with the launch of UEM Sunrise Gallery Iskandar Puteri, which showcases the company’s vision for the future of Iskandar Puteri.

As part of the JS-SEZ, Iskandar Puteri specializes in various sectors, including manufacturing, business services, education, health, and tourism. Interested in investing in overseas properties? Take a look at available projects for sale around the world.

The MOU will cover UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, which are two key master-planned areas within Iskandar Puteri. The collaboration aims to unlock the potential of Iskandar Puteri and make it an attractive investment destination. It will focus on improving connectivity, fostering talent development, and creating a business-friendly ecosystem to drive sustainable economic growth in Johor.

According to Hafizuddin Sulaiman, CFO of UEM Sunrise, “This partnership is not just about development but also about shaping a thriving end-to-end, future-ready economic hub that fuels long-term growth, creates jobs and strengthens the JS-SEZ ecosystem.”

The sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making them well-positioned to drive long-term economic growth and establish Iskandar Puteri as a robust business and investment hub. Speaking at the ceremony, Datuk Hisham Hamdan, Chairman of UEM Sunrise, said, “The JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all parts of a larger vision to position Johor as a dynamic and forward-thinking economy.”

Cheng Hsing Yao, CEO of GuocoLand, emphasized that the Singapore-listed property group “will bring along our experience in real estate development and asset management as well as an understanding of the needs of companies from Singapore, Malaysia, and China that wish to establish a presence in the JS-SEZ.” He added, “Together, our combined expertise will enable us to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.”

UEM Sunrise has been a key player in Iskandar Puteri’s urban development, with existing residential townships such as the Aspira series and Senadi Hill under its belt. The company has also developed commercial and retail hubs, including an upcoming 380-acre industrial park in Gerband Nusajaya.

The growth of Iskandar Puteri is expected to be driven by incentives and support schemes introduced by the Malaysian and Singaporean governments, which aim to attract more investments to the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.…

On February 27, Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand signed a major memorandum of understanding (MOU) between private companies of the two nations. This marks the first Johor-Singapore Special Economic Zone (JS-SEZ) MOU, aimed at joint development of UEM Sunrise’s freehold landbank in Iskandar Puteri, Johor in order to accelerate growth within the region.

The signing of the MOU was held in conjunction with the opening of UEM Sunrise Gallery Iskandar Puteri, a showcase of the group’s vision for the area. Iskandar Puteri, which is part of Flagship Zone B of the JS-SEZ, specializes in various sectors including manufacturing, business services, education, health, and tourism.

The MOU will cover UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri, with the aim of activating the region’s potential and making it more attractive for investment. The collaboration will focus on improving connectivity, fostering talent development, and creating a business-friendly ecosystem, all of which are key drivers for sustainable economic benefits in Johor.

According to Hafizuddin Sulaiman, CFO of UEM Sunrise, “This partnership is not just about development, but also about shaping a thriving end-to-end, future-ready economic hub that fuels long-term growth, creates jobs and strengthens the JS-SEZ ecosystem.”

The sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, and the partnership aims to drive long-term economic growth and establish Iskandar Puteri as a robust business and investment hub.

In a speech, Datuk Hisham Hamdan, chairman of UEM Sunrise, highlighted the larger vision to position Johor as a dynamic and forward-thinking economy through the JS-SEZ, developments in Iskandar Puteri, and strategic partnerships.

According to GuocoLand CEO Cheng Hsing Yao, the Singapore-listed property group will bring their experience in real estate development and asset management, as well as an understanding of the needs of companies from Singapore, Malaysia, and China, to establish a presence in the JS-SEZ. He adds, “Together, our combined expertise will enable us to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.”

When considering investing in a condo in Singapore, it is important to take into account the government’s property cooling measures. The Singaporean government has implemented several measures in recent years to prevent speculative buying and maintain a stable real estate market. One example is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreigners and individuals purchasing multiple properties. While these measures may affect the immediate profitability of condo investments, they ultimately contribute to the long-term stability of the market, making it a more secure environment for condo investments.

Prior to this collaboration, UEM Sunrise has played a key role in the urban development of Iskandar Puteri. Among their existing developments are residential townships such as the Aspira series and Senadi Hill, as well as commercial and retail hubs. They also have plans for an upcoming 380-acre industrial park in Gerband Nusajaya.

The growth in Iskandar Puteri is expected to be fueled by incentives and support schemes introduced by the governments of Malaysia and Singapore, including special tax rates, stamp duty exemptions, and capital allowances, all aimed at attracting more investments for the JS-SEZ.…

Rewritten:Frasers Property has recently announced a partnership with two major Chinese real estate groups to acquire a residential site in Songjiang District, Shanghai. The acquisition was made through a tender from the Shanghai Municipal Bureau of Planning and Natural Resources for a sum of RMB815.2 million ($151.9 million). The project is a joint venture (JV) between Frasers Property, Xiamen ITG Real Estate Group, and Shanghai-listed Gemdale Corporation.

According to the press release on February 26, Frasers Property reveals that the project will see the development of a mix of 189 low-rise apartments, townhouses, and duplex units, with a total gross floor area of 334,714 sq ft. The development will adopt design measures to mitigate flooding and promote energy efficiency, such as efficient thermal insulation, energy-saving door and window systems, and solar photovoltaics.

The project is expected to target potential buyers in the Fangsong Community, Songjiang District, including upgraders and first-time homebuyers. The prime residential neighbourhood is also strategically located near two existing projects, Club Tree and Palace of Yunjian, which are joint ventures between Frasers Property and Gemdale Corporation.

Investing in a condominium in Singapore offers numerous benefits, one of which is the potential for capital appreciation. As a prominent global business hub with a robust economy, Singapore has a constant demand for real estate, making it a lucrative market for investment. The country’s property values have consistently risen over the years, particularly for condos situated in prime locations. By purchasing a condo at an opportune time and holding onto it for an extended period, investors can reap considerable profits from capital gains. Additionally, those interested in investing in a condo can visit Condo to explore available options and make an informed decision.

Lim Hua Tiong, CEO of emerging markets in Asia at Frasers Property, states that the joint venture not only strengthens the company’s presence in Shanghai, but also demonstrates their commitment to delivering high-quality residential developments that cater to the evolving needs of the Chinese community.…

City Developments (CDL) has stopped the “serious lapses” in corporate governance under the leadership of its executive chairman Kwek Leng Beng. Kwek issued a second statement, following a court hearing on Feb 26, stating that the two new directors appointed on Feb 7 have agreed to not exert their powers as directors until further court notice. These new directors, Jennifer Duong Young and Wong Su Yen, were appointed as independent non-executive directors through directors’ resolutions in writing.

The elder Kwek also stated that his son, Sherman Kwek, Philip Lee, Wong Ai Ai and other directors acting in concert with them, have agreed to not take any further actions regarding their attempted changes to the board committees and management of certain CDL subsidiaries until further court notice. The nominating and remuneration committee, which is “irregularly constituted”, has also been suspended from taking further action.

With these agreements in place, CDL’s board committees and the management of relevant subsidiaries are now safe from further attempts to destabilize, dismantle and reconstitute them, according to Kwek. He emphasized the importance of strong corporate governance, stating that it is the foundation of a well-functioning and sustainable business. It ensures transparency, accountability and responsible decision-making, which are crucial for maintaining investor confidence and protecting the long-term interests of shareholders.

The demand for condos in Singapore remains high due to the limited land availability in the small island nation. With a rapidly growing population, Singapore is facing a scarcity of land for development, resulting in strict land use policies and a fiercely competitive real estate market. As a result, property prices are continuously pushed up, making real estate investment, particularly in condos, a profitable opportunity with the potential for capital appreciation. With the current condo market in Singapore, investing in this type of property has become a desirable and lucrative venture.

On the morning of Feb 26, CDL shocked the markets by calling for a trading halt and cancelling its FY2024 results briefing, which was scheduled for later that day. The company released a media statement at 1.51pm stating the suspension of trading in its shares was due to a disagreement within the board regarding the composition and constitution of the board and board committees.

Despite the temporary suspension of trading, CDL’s business operations remain fully functional and unaffected, according to the company. Sherman Kwek remains the group chief executive officer until there is a board resolution to change company leadership.

In his first press statement, Kwek accused his son, Lee, Wong and a group of directors of trying to consolidate control of the board and the group. He stated that he has filed court papers on Feb 25 to rectify the situation, which is necessary to deal with the attempted coup. He also mentioned that they intend to change the CEO at the appropriate time and will explore all legal options to protect the interests of CDL and its shareholders. Kwek added that should Sherman be removed as CEO, the incumbent chief operating officer, Kwek EIk Sheng, will serve as interim CEO.

CDL shares last traded at $5.12 before its trading halt on the morning of Feb 26.…