Urban planning authorities are considering the conservation of People’s Park Complex, Southeast Asia’s first multi-use complex built in the 1970s. The Urban Redevelopment Authority (URA) has informed the property’s management corporation that it assessed the building to be of high heritage significance. While heritage groups welcome the move, it may impact the second collective sale […]
November witnessed a significant rebound in Singapore’s private home sales, driven by the successful launches of suburban condominiums – J’den in Jurong East, Hillock Green in Lentor Central, and the luxury prime district project Watten House. The surge in sales, up 286% from October to a four-month high of 784 units, was attributed to pent-up […]
The US Federal Reserve opted to keep interest rates steady and indicated a shift in its monetary policy, signaling the end of the historic tightening implemented over the past two years. The decision was accompanied by new economic projections, highlighting the expectation of lower borrowing costs in 2024. Key Points: Policy Statement: The Federal Reserve […]
As the deadline approaches for mortgages tied to the Singapore Interbank Offered Rate (Sibor), it’s reported that although around 30,000 borrowers switched between January and October, approximately 57,000 still hold onto their Sibor-based loans. The Association of Banks in Singapore (ABS) notes that Sibor is set to be discontinued by the end of 2024, with […]
In a significant stride towards enhancing Singapore’s transportation infrastructure, the Land Transport Authority (LTA) has awarded a $510 million civil contract to Gamuda Berhad Singapore Branch for the design and construction of West Coast station and tunnels under the Cross Island Line Phase 2 (CRL2). With a proven track record in both local and international […]
The Ministry of Finance (MOF) and Inland Revenue Authority of Singapore (Iras) have announced a one-off property tax rebate for owner-occupied homes in response to the anticipated increase in property taxes. The rebate, ranging from 100 percent for small public flats to 15 percent for private properties, aims to mitigate the impact of higher property […]
Sentosa, a popular island destination in Singapore, is set to become home to the Republic’s first “solar pavements,” with installation scheduled for the first quarter of 2024 on Sentosa’s Fort Siloso Skywalk. The initiative is part of the island’s commitment to achieving carbon neutrality and exploring innovative ways to leverage solar power. Solar pavements involve […]
In a significant move, public housing flats will be launched in the Pearl’s Hill area near Chinatown for the first time in 40 years. This initiative is part of the government’s broader plan to diversify housing types in central locations and breathe new life into the city center, creating vibrant mixed-use districts. The objective is […]
An indirect wholly-owned subsidiary of Genting Singapore has been granted provisional approval by the Urban Redevelopment Authority (URA) to develop 21,243 square meters of gross floor area (GFA) for retail space and 700 hotel rooms at Resorts World Sentosa (RWS). The retail space equates to 228,658 square feet. This development is part of Genting Singapore’s […]
The tenders for three state-owned plots closed on Tuesday, with fewer developers submitting bids due to higher interest rates and increased economic and geopolitical uncertainties. Nevertheless, two private housing sites, specifically Lorong 1 Toa Payoh and Pine Grove Parcel B, received top bids that exceeded market expectations. According to Mr. Leonard Tay, Head of Research […]
