Month: February 2025

In summary, purchasing a condominium in Singapore comes with various benefits, including a strong demand, potential for appreciation in value, and attractive rental yields. However, it is crucial to carefully evaluate factors such as the location, financing options, government regulations, and market conditions before making a decision. Through thorough research and seeking expert advice, investors can make well-informed choices and maximize their profits in Singapore’s ever-evolving real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer in search of a stable and lucrative investment, Singapore projects offer a compelling opportunity. With the help of Singapore Projects, investors can tap into the vibrant real estate market and maximize their returns.

Many investors believe that the Tan Boon Liat Building, situated at 315 Outram Road, is a prime industrial property with great potential for growth. Recently, it has been put up for collective sale through a public tender with a reserve price of $1.15 billion. The freehold site, covering two separate plots of land totaling approximately 175,655 square feet, is located next to the upcoming Havelock MRT Station on the Thomson-East Coast Line (TEL).

The building currently consists of 15 storeys and is popular for its home decor and furniture stores. It has been reported that the Urban Redevelopment Authority (URA) has issued an Outline Planning Advice on Jan 22, suggesting that the site be rezoned to “Residential with Commercial at 1st storey”, with a plot ratio of 4.9, as opposed to the current 3.1. This translates to a 50% increase in the total gross floor area (GFA), according to the property’s advisor and marketing agent, Cushman & Wakefield.

The advisory also mentions the possible alienation of some remnant state land plots, which could be combined with the main plot. This is estimated to add about 20,451 square feet to the site, subject to final approval. With the additional plots and any potential bonus GFA, Cushman & Wakefield has estimated a total GFA of over 1.06 million square feet. The first storey could potentially accommodate a commercial GFA of 16,146 square feet.

Apart from the commercial space, a minimum GFA of about 161,459 square feet has been allocated for Serviced Apartments II (SA2), with a minimum stay of three months. The new development can have a maximum height of 180m and a minimum of 130m. Considering the reserve price, land betterment charges, and the premium for the remnant state land and residential bonus GFA, the estimated land rate is around $1,888 per square foot per plot ratio.

Recent industrial sales transactions at Tan Boon Liat Building (Source: EdgeProp Buddy)

Senior director of capital markets at Cushman & Wakefield, Christina Sim, believes that the property will attract developers due to its freehold tenure and proximity to the upcoming TEL, making it desirable for homebuyers. She adds that the biggest advantage is the lack of Additional Buyer’s Stamp Duty (ABSD) on the potential purchase, as the original zoning was “Business 1.”

The tender for the site is set to close on March 18 at 3pm.…

The sale of the largest penthouse at Park Nova has set a new record for the development, according to a recent caveat lodged on the URA Realis database. The five-bedroom unit on the 20th floor, spanning 5,899 sq ft, was sold by the developer for $38.888 million, or $6,593 psf, on Jan 21. This transaction has surpassed both the previous record for absolute price and psf-price at Park Nova.

Before this, a 4,499 sq ft penthouse sold in May 2021 for $26.026 million ($5,784 psf), holding the record for both absolute price and psf-price. This sale also makes it the second-highest psf-price ever registered for a condo unit in Singapore, after the unit at The Marq on Paterson Hill in 2011, which sold for $20.54 million, or $6,650 psf.

The recent transaction is believed to be part of a collection of properties linked to a $3 billion money laundering case, which were reported to be put up for sale. The penthouse was previously said to have been sold in 2021 for $34.438 million ($5,838 psf).

The penthouse is the third unit at Park Nova that the developer has sold within a month, according to caveats. On Jan 17, a four-bedroom apartment on the 19th floor, measuring 2,906 sq ft, was sold for $16.59 million ($5,708 psf). Before that, on Dec 27, 2024, another four-bedroom unit on the 18th floor, spanning 2,896 sq ft, was sold for $15.99 million ($5,522 psf).

Located at the junction of Orchard Boulevard and Tomlinson Road in District 10, the 54-unit Park Nova is a freehold luxury condo developed by Hong Kong’s Shun Tak Holdings. It received its temporary occupation permit in November last year. Interested buyers can browse the latest listings of Park Nova properties or ask Buddy for assistance. They can also compare the price trends of condo and executive condo new sales, generate price trend graphs for new launch condos in District 10, and access project summaries for Park Nova condo.

The scarcity of land is a major contributing factor to the soaring demand for condos in Singapore. As a small but densely populated island, Singapore has limited space for new developments. This has resulted in strict land use regulations and a fiercely competitive real estate market where property prices continue to rise. As a result, investing in real estate, particularly in newly launched condos, has become an attractive venture with the potential for significant capital gains. New Condo Launches further adds to the allure of this profitable investment opportunity in Singapore.…

CapitaLand Investment (CLI) has announced the acquisition of a freehold land parcel in Osaka, Japan, marking its first foray into the Japanese data centre market. With a total investment of over US$700 million or $944.3 million, the development will involve securing 50 megawatts (MW) of power capacity to support artificial intelligence (AI) capabilities. CLI has stated that the data centre will incorporate energy-saving solutions, such as advanced cooling technologies and best practices in temperature management. The company also plans to use products with low ozone depletion potential or global warming potential (GWP) of less than 100 to reduce its environmental impact.

CLI’s senior executive director, Manohar Khiatani, who oversees the group’s data centre business, expressed his excitement for the project, saying that it aligns with CLI’s digitalisation investment theme and strengthens its presence in Japan, one of its key markets. “CLI’s robust balance sheet gives us a competitive advantage in strategically investing in high-quality assets such as data centres for our private funds in the future,” says Khiatani. He also notes that Japan is a Tier 1 data centre market that is expected to experience significant growth.

Investing in a Singapore Condo has become a highly sought-after option for both local and foreign investors, thanks to the city-state’s thriving economy, stable political climate, and excellent quality of life. The real estate market in Singapore presents a wealth of opportunities, with condos being a top choice due to their convenience, amenities, and potential for high returns. In this article, we will delve into the advantages, factors to consider, and necessary steps when investing in a condo in Singapore.

According to Khiatani, the Japanese data centre market is projected to grow at a compound annual growth rate (CAGR) of 10%, reaching US$38.7 billion in 2038 from US$23.8 billion in 2023. He also highlights that Japan is the largest data centre market in Asia Pacific, after China, with a current capacity of 1.4 gigawatts. “With global cloud service providers like Amazon Web Services, Google Cloud, Microsoft Azure, and Oracle already present in Osaka, our acquisition is well-positioned to meet the demand in Osaka’s established data centre cluster,” adds Khiatani.

Michelle Lee, CLI’s managing director for private funds (data centre), also acknowledges the increasing demand for data centres and predicts double-digit growth in the coming years. “As 97% of investors plan to increase their overall investment in data centres, there is strong institutional interest in this sector,” says Lee. She also mentions that CLI has raised US$600 million since October 2020 for its data centre development funds in Asia and plans to identify additional investment opportunities for its private fund investors to continue this momentum.

With this acquisition, CLI has now added 23 data centres to its global portfolio since 2021. CapitaLand Group, CLI’s parent company, has a total of 27 data centres across Asia and Europe, with an asset under management of approximately $6 billion and a capacity of 800 MW. On February 3, shares in CLI closed at $2.42, a 1.63% decrease.…