Archive for category: Real Estate

Read more: A billionaire from Indonesia pays 60% ABSD for a four-bedroom at Scotts HighPark

Through an affiliate business, Hyatt Hotels has signed management-related agreements with LFG Property to manage a Caption by Hyatt Hotel in Sydney, Australia. The hotel is expected to be completed by 2025 and will mark the first appearance of the brand in Australia.

The hotel with 174 keys will be located in Haymarket located in Sydney’s south CBD close to landmarks like the city’s Chinatown, Capitol Theatre, Darling Harbour, Sydney International Convention Centre as well as a variety of universities, and the brand New Tech Central innovation and technology precinct.

Modern and urban industrial style will be the basis of the design of the hotel, and the property will feature layers of textures, colors and graphic artwork that is hand-drawn to create a beautiful dining and social space.

The international hotel chain describes the Caption brand a ‘luxury and contemporary hotel that offers the freedom and self-guided choices of the select-service property’. Properties operated under this brand are equipped with technologies such as digital check-ins digital keys, digital check-in, and mobile-order food services.

The first hotel under the brand Caption owned by Hyatt began operations in Memphis in the US in 2022. Hyatt claims it is planning additional openings in Australia, China, Japan and Vietnam in the next two years. “As a brand that is focused on creating authentic experiences and connections for the modern-day traveler The new location will create a space where both locals and guests are able to feel at home in a setting that reflects the personality of their community.” states David Udell the group president of Asia Pacific at Hyatt.

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In June 5th, government made it clear that Singapore Racecourse site in Kranji will be shut down in March 2027. The 120-ha site is being utilized for housing and other projects. PropNex Chief Executive Officer Ismail Gafoor says the move “reflects the flexibility of the government’s strategy for managing the land use in Singapore which is a land that is in short supply, but there are many competing demands to fill space”.

Possible redevelopment plans for Kranji MRT Station. vast site just beside Kranji MRT Station will likely bring new private and public residential dwellings, parks, retail options and other services for the community to the Northern part of Singapore PropNex says PropNex.

The company estimates that 30,000 to 30,000 new homes are possible on the site in the event of an average plot ratio of 2.8 and a area of 1,000 square feet. But the exact number could differ depending on the final plans for development.

Lee Sze Teck, senior director of research at Huttons Asia is adamant that, even though the 120-hectare site could be considered too small to qualify as a separate township but it could be a way to expand the existing Woodlands township in HDB. The town could be home to up to 30,000 homes could be constructed on the parcel of land.

The current master plan reveals where next residential development may be built, according to Eugene Lim, key executive officer of ERA Realty Network. “Looking at the present areas of land, as shown within the Master Plan, residential uses might be included on the western and eastern sides of the club’s turf site as an extension of existing residential uses,” says Lim.

The western part of the area on Turf Club Avenue might be ideal for “low-rise condominiums or land parcels since “there are already landed properties in Jalan Kasau.” Jalan Kasau region,” adds Lim. The remaining site could be redeveloped with a mixture of sports, nature, F&B, retail, and leisure, as additional land uses to complement the residential use in the region.

“The redesign of Kranji as a town will help in the expansion of the Woodlands Regional Centre, which is being touted as the biggest economy hub in Singapore’s north area,” says Gafoor, and adds that this will boost the workforce for businesses that are expected to grow in the Woodlands, Senoko, Lim Chu Kang and Sungei Kadut.

Lee is also of the opinion there is a need to create a momentum required to push Woodlands ahead as a regional center and he says that the closing to the Singapore Turf Club, founded in 1842, will allow urban planners the chance to consider a new strategy for positioning Woodlands to be a place of opportunity in the future.

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A land parcel comprising 104.469 sq feet and the option of a 103-year lease on 112 Lorong J Telok Kurau was auctioned off to a buyer for 40 million ($382.89 per sq ft) in November 2022 according to an SISV Caveat from Realink.

Operator of co-living The Assembly Place is the designated director of development and the operator on the lease of 5+5 years The company’s director and chief of staff Eugene Lim. The purchaser for the property prefers not to be identified.

The person who is selling the property is the Trustees of the Presbyterian Church which holds the lease of 999 years (from 1939) for the site. Although the zoning of the site is intended for institutions of the community and civic nature, URA had permitted the utilization for this property as a hostel for students in the words of Knight Frank Singapore, the marketing agent for the site.

Prior to the property was auctioned off it was operating as EastLodge as the 120-room student residence with 3 blocks in 2 buildings and four-storey structures on the site.

Knight Frank launched the site at Telok Kurau to be sold by tender in September 2022. The tender was closed the following month on the 20th of October 2022 more than 15 bids were made. The price of $40 million is also 10 millions (33%) above the initially suggested cost of $33 million ($287 per sq. ft.). “Interest was heightened due to the exclusive usage for this site,” says Chia Mein Mein, Knight Frank’s director of the capital market (land and sales collectively).

The property is being renovated at present and is being transformed into an 43-bed “premium students’ hostel” According to Lim the owner of The Assembly Place. The “premium” is due to the modular design that gives each student getting having their own bed and study space. The communal facilities include lounge, dining area, laundry, kitchen and basketball court as well as an outside fitness area. He also says that bathrooms are shared and “spacious and well-equipped”.

In Singapore there are a lot of accommodation for students is basic, with very few facilities, if any that are provided, Lim observes. In the Assembly Place, Assembly Place intends to create a top-quality student hostel comparable to those offered elsewhere, including in the UK as well as in the US as well as Australia. “With greater than 100,000 sq feet of space, we are able to build a large number of facilities for the community,” he adds.

Students from abroad studying in Singapore was estimated to be 65,400 in April 2022. This is increasing from 59,100 by April 2021 based on statistics taken from both the Ministry of Education and the Immigration and Checkpoints Authority from an Business Times report. The majority of international students in Singapore originate of Malaysia, Indonesia, Thailand, Vietnam, China, India and South Korea, and most are between 13 and 23 as per the International Trade Association.

Lim believes that the student population of international students in Singapore will be higher this year, especially after China lifted traveling restrictions on January 1st. The Chinese government also has imposed restrictions on private schools that teach foreign curriculum and foreign investments on private educational institutions in China.

Lim states that the clamp-down has resulted in more Chinese parents sending their kids abroad for education. Additionally, Singapore has been historically the preferred location among Chinese parents. says.

“These times parents are becoming more aware of the type of home that their children will stay in when they study abroad,” says Lim. “In addition to the location the other major factors to consider are security, privacy as well as hygiene and comfort.”

The student accommodation with 430 beds is the 2nd student hostel in the portfolio of The Assembly Place following the launch of the first co-living hostel with 186 beds property located on Perak Road, off Jalan Besar in the month of November 2022. The property is completely filled to capacity.

The addition of a superior hostel will expand The Assembly Place’s portfolio of co-living and space to 2,000rooms, according Lim.

KSH Holdings has reported FY2023 earnings of $22.3 million, a decrease of $1.9 millions from prior year that ended on March 31, 2023. This is due to the fact that the KSH Holdings’ share of profits from joint ventures and associates decreased.

The revenue for the same year increased 25.4% to $301.4 million in the same year, as KSH reported higher construction revenue with an order book that was more than $240 million at the time of March 31.

Hillock Green condo floor plan with an ample gross floor area of 40,333 square meters it offers ample housing solutions that meet different lifestyle needs.

The company will pay the final dividend of one cent, which will bring the full year dividends up to 2 cents.

A majority of KSH’s developed project in Singapore are sold out or close to being sold out until now.

It currently has four property jointly-owned ventures in Singapore Peace Centre/Peace Mansion, Euro-Asia Apartments at 1037 Serangoon Road, Park View Mansions and Bagnall Court.

Within China, KSH is part of a group that is working on an initiative called Singapore Sino Health City in the county of Gaobeidian close to Beijing.

KSH who holds an 22.5% stake in this project, has announced that Phase 1 construction of the project is complete and KSH is beginning to recognize profits from units sold and the construction of Phase 2 has begun.

According to KSH the company, the KSH estimates that more than 60.9% of the approximately 1,300 units that were launched in both phases of the program have been sold.

Additionally, KSH has a 33.75% stake in a different mixed property development in Gaobeidian and has been a positive factor in the FY2023 profits.

KSH has interests in hospitality, too. “We are seeing a steady increase in room occupancy and rates that are boosted by the increased demand for travel, after the opening of economies,” says executive chairman and managing director Choo Chee Onn.

On May 26th on the 26th of May, The High Court gave the green signal for the sale of the collective of Chuan Park. The judge decided that the sale was made with good intentions. Justice Kwek Mean Luck concluded that there was no evidence that suggests the collective sale committee didn’t come to the conclusion in good faith.

The judge also noted that on the 5th of July 2022, 2022 342 units, that had a total worth of 1 409 shares (80.93%) and total strata area (80.11%) had consented to the sale collectively of Chuan Park at $890 million.

Hillock Green showflat is reserved for private housing development, will offer direct access to Lentor MRT station on the Thomson-East Coast Line via covered walkways.

The price represents the equivalent of a 5% discount from Chuan Park’s initial reserve value of $938million at the time it was launched for a collective sale on the 5th of October 2021. ERA Singapore was the appointed marketing agency for Chuan Park.

The buyer in en bloc for the shared sale site is a joint venture of Chinese developers Kingsford Huray Development and MCC Land (Singapore). In a joint announcement on May 26, the two partners said: “We are excited that the sale order was granted in the case of collective sales at Chuan Park, likely one of the largest group sale deals within the Outside Central Region in recent times.”

Kingsford as well as MCC Land added that they are planning to develop Chuan Park into a “new-concept residential development set in the picturesque and mature District 19’s heartlands”.

The total purchase of Chuan Park is the biggest in the history of Tulip Garden on Farrer Road (now the 638-unit development that is planned for Leedon Green) that was purchased by a joint venture of MCL Land and Yanlord Land for $906.9 million in April of 2018.

“Given the magnitude that the development was, it wasn’t an easy sale en bloc,” says Marcus Chu the chief executive officer of APAC Realty and ERA Asia Pacific.

The present Chuan Park includes 444 condominium units as well as two commercial units that were constructed around 1984/85. The property is located on a 400,588 square foot site with an agreement for 99 years beginning June 6 to June 6, 1980. According to the URA Master Plan 2019, the site has a plot-to-plot ratio of 2.1 and the possibility of being redeveloped into a condo with 900 units and an area gross of 841,236 square feet dependent on URA as well as Land Transport Authority approval.

Chuan Park is next to the Lorong Chuan MRT station and the amenities surrounding the well-established private housing estate Serangoon Gardens in prime District 19. The development is close to Australian International School, St Gabriel’s Primary School and Nanyang Junior College.

In the words of The ERA’s Chu, Chuan Park is one of the most storied housing developments within the region. “We believe that the redevelopment of this park will give it a new boost of vitality and revive the old residential district and improve the overall structure of the neighbourhood,” he says.