The Dempster Condo Log Book

At Marina Gardens Condo a guide price of $63 million, the owners of a four-storey walk-up development with 26-units at 52 to 62H Tanjong Katong Road in District 15 are relaunching the property for tender. Originally asking for $65.5 million when it was put up for collective sale in July of last year, the property failed to attract offers in line with the asking price.

With a land area of about 32,397 ft and a zoning that allows for a gross plot ratio of 1.4 under the 2019 Master Plan, this redevelopment could potentially have 49 residential apartments with an average size of 915 sq ft. Factoring in an estimated land betterment charge of approximately $530,000, the guide price translates to approximately $1,401 psf per plot ratio (psf ppr), potentially lowering to $1,375 psf ppr after factoring One Sophia in a 7% bonus balcony gross floor area.

Terence Lian, head …

The two conservation shophouses at 6 and 7 Perak Road have been put up for sale via tender after the pandemic, with a guide price of $13 million. The properties are well-maintained and require minimal refurbishments with an 11.4m-wide frontage along Perak Road and a built-up area of 5,360 sq ft. The three-minute walk to Rochor MRT Station makes them highly accessible, and the tourism sector recovery should make them attractive to hostel operators. The estimated potential gross rental yield to the future buyer is above 3%. Being zoned for commercial use, no additional buyer’s stamp duty is payable which further amplifies the attractiveness of this tender. The tender will close on May 8 at 3pm.

The two conservation shophouses at 6 and 7 Perak Road, situated in the Jalan Besar/Little India precinct, are up for sale with a guide price of $13 million. With minimal refurbishments required, these properties …

Sandeep Sethi has been appointed division president of work dynamics at JLL in the Asia Pacific region. With a diverse career spanning 27 years, including 10 at JLL, he has a deep understanding of corporate real estate and has forged strong client relationships. In his new role, Sethi will be responsible for providing services addressing the full real estate life cycle to occupiers, including integrated facilities management, construction management services, sustainability and workplace consulting, workplace experience and lease transaction management.

In addition, he will also be in charge of growing JLL’s North Asia market share in mainland China and Hong Kong, and report to Susheel Koul, JLL’s CEO for work dynamics in Asia Pacific. Koul made the following comments regarding Sethi’s appointment: “Sandeep is an established leader and a respected client advisor with an astute understanding of the dynamic nature of commercial real estate. His appointment reinforces JLL’s commitment to …

in response to the market slowdown.

Investment sales in Singapore’s real estate market got off to a “slow start” in the first quarter of 2023, with only $4.2 billion worth of investments recorded. This marks a 61% decrease compared with 1Q2022, and the lowest quarterly total since 2Q2020 when the government had implemented circuit breaker measures in response to the pandemic.

Residential-level deals were steady, totaling to $1.6 billion, including the sale of collective properties such as Meyer Park, Bagnall Court and Holland Tower. Of particular note is the sale of Holland Tower which is the first successful collective sale of a residential property in the Core Central Region since 2021. This could signal the “nascent return” of interest for prime locations, according to Knight Frank Singapore’s Head of Capital Markets (Land & Collective Sale), Chia Mein Mein.

However, a large price gap between sellers and developers continues to challenge …

A site area of over 500,000 sq ft with waterfront access has been launched for sale via an expression of interest exercise at a guide price of $11.3 million. Located at 1 Benoi Road, at the junction of Benoi Road and Pioneer Road, within Jurong Industrial Estate, and approximately 24km from the City Centre, the property is suitable for shipbuilding, ship or vessel repair and maintenance.

Isabel It, Associate Division Director of Huttons Asia, says the plot is regular in shape with a corner frontage of about 255m on Benoi Road and Pioneer Road, with an average plot depth of about 213m. The east side of the land has a roughly 230m frontage along the waterfront. “The land is generally at an access-road level with a flat contour,” adds It.

Recent transactions of industrial property on Benoi Road according to EdgeProp Research tool, saw a 328,105 sq ft plot at …

Land-starved developers take a punt on Tengah’s industrial land GuocoLand and Intrepid Investments (a subsidiary of Hong Leong Group) submitted the sole bid for a residential government land sale (GLS) site at Lentor Gardens, with a bid of $486.8 million, translating to a land rate of $985 psf per plot ratio (psf ppr).

The future development, to be a new high-end residential development of around 533 units, will complement the two upcoming developments – Lentor Modern and Lentor Hills Residences, which aim to transform the Lentor Hills estate to a premium residential area.

Mark Yip, CEO of Huttons Asia, notes that the $958 psf ppr bid is the lowest for a land parcel in the Lentor precinct, and is the first residential GLS tender to see only one bid since the tender of the Silat Avenue GLS site in 2018.

The two last residential GLS sites to be sold in …

The West side of Singapore has been an area of great potential for many years. With the government’s continued investment in infrastructure and economic development, the West side of Singapore is poised to become a major hub for the country. In the past few years, there have been a number of projects that have been launched in the West side of Singapore that promise to bring major changes to the area.

The first project is the Jurong Lake District. This project is a master plan to create Bukit Batok EC a vibrant business, residential and leisure district in the West side of Singapore. The area will feature a number of commercial, residential and leisure facilities, including retail outlets, offices, hotels and entertainment complexes. The area will also feature a number of new public parks and gardens, as well as pedestrian-friendly streets. This project is expected to bring in a large …

Bukit Timah has long been a highly sought-after residential area in Singapore for families with school going children. This is due to the presence of many highly-regarded schools located in the area, as well as the convenient access to other parts of the city.

This has led to an increase in condo projects in Bukit Timah, offering families a range of options when it comes to a place to call home. These condo projects in Bukit Timah are designed to meet the needs of families with school going children, offering them a safe and secure environment to live in.

One of the main attractions of living in a condo project in Bukit Timah is the proximity to the schools. Many of the schools in the area are renowned for their excellence in teaching, giving children the best chance of success in their studies. This makes it easy for parents to …

City Developments Limited (CDL) is a leading real estate developer in the world, based in Singapore. It has a long and successful history of developing quality real estate projects across Asia and beyond. With a portfolio of over 200 projects, CDL has developed award-winning residential, commercial, and mixed-use developments that have become landmarks in their respective cities.

CDL has a strong track record of providing quality and innovative real estate solutions, as well as excellent customer service. Their projects are known for their modern design and state-of-the-art amenities, making them highly sought-after by homebuyers and investors alike.

The company has been recognized for its commitment to sustainability, with several of their projects receiving LEED certification. CDL is also the first real estate developer in Singapore to voluntarily adopt the green building rating system, BCA Green Mark. This commitment to green building practices has enabled them to reduce their environmental footprint …