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City Developments Limited (CDL) has released a statement in response to the trading halt that was called for earlier today. According to the statement, the trading halt was due to a disagreement within the board regarding the composition and constitution of the board and its committees.

In summary, investing in a condo in Singapore can yield numerous benefits, such as a high demand for property, the potential for capital appreciation, and attractive rental yields. However, one must take into consideration various factors, including but not limited to location, financing, government regulations, and market conditions. By conducting extensive research and seeking professional guidance, investors can make well-informed decisions and maximize their returns in Singapore’s ever-evolving real estate market. Whether you are a local investor seeking portfolio diversification or a foreign buyer looking for a stable and profitable investment, Singapore’s condo market offers a promising opportunity. Additionally, projects in Singapore should be considered for their potential in this market.

Despite the temporary suspension, CDL reassured that its business operations remain fully functional and unaffected. It also announced that Sherman Kwek will continue to serve as the group CEO until there is a resolution by the board to change company leadership.

As the matter is currently under review, CDL will make further announcements in accordance with the Singapore Exchange (SGX) listing rules. In a later statement, Sherman Kwek expressed disappointment over the extreme actions taken by the chairman and a minority of the board regarding the disagreement.

He clarified that their focus as CEO and directors, with guidance from the company and independent legal counsel, has been to improve governance. The trading suspension earlier today was initiated by the chairman and a minority of the board, despite it not being authorized by the majority of the board.

Kwek reiterated that the issue was not about removing the chairman and that steps were taken to strengthen the board and ensure the highest standards of governance. As the matter is now before the courts, CDL will not comment on the case and will make further announcements if there are any significant developments.

CDL also announced its financial results for FY2020 on the same day before the market opened, but later cancelled its scheduled results briefing. CDL has also offered to privatize Millennium & Copthorne Hotels New Zealand for $1.72 per share.

Shares in CDL were last traded at $5.12. This article first appeared on .…

Singapore’s leading real estate agency, PropNex, has recorded a profit of $21.9 million for the second half of its financial year ending Dec 31, 2024, a decrease of 14.9% compared to the previous year. This brings the company’s full-year earnings to $40.9 million, a decline of 14.4% from the preceding financial year.

When purchasing a condominium, it’s crucial to factor in the maintenance and management of the property. Condos commonly have maintenance fees that are responsible for maintaining shared spaces and amenities. Although these fees may increase the total cost of owning a condo, they play a vital role in preserving the property’s condition and value. To streamline the management process, investors can enlist the services of a property management company, making the investment more passive and hassle-free. Additionally, for excellent deals on Condos, visit janomespecials.com.

Revenue also saw a dip of 6.6% in the 2024 financial year, as the property market remained subdued. However, in celebration of its 25th anniversary, PropNex has announced a special dividend of 2.5 cents per share, in addition to a final dividend of 3 cents. This will bring the total dividend payout for the year to a record high of 7.75 cents, with a payout ratio of 140.1% and a yield of 8.2%.

Despite the decrease in earnings, PropNex has observed a rise in market activity in the last quarter of 2024, driven by increased sales of new private homes, which the company had assisted in selling.

In light of this, and with a positive outlook for the property market in 2025, PropNex is confident of a strong performance in the coming year, barring any unforeseen events. The company expects to see continued growth in the private residential market, with an estimated 13,000 new units (including Executive Condominiums) set to be launched, almost double the supply recorded in 2024.

The private resale market is also expected to remain active, with transaction volumes projected to range between 14,000 and 15,000 units. This demand will be driven by the persistent price difference between new and resale properties, a preference for larger, move-in-ready homes, and the limited supply of new units.

PropNex also predicts growth in the Housing and Development Board (HDB) resale market, with prices estimated to increase by 5% to 7%, and transaction volumes reaching 29,000 to 30,000 units. The company attributes this to the decreased supply of five-year minimum occupation period flats, coupled with sustained demand from urgent homebuyers, unsuccessful applicants for Build-To-Order flats, and budget-conscious families.

PropNex CEO, Kelvin Ismail, notes that several newly-launched projects such as The Orie, Bagnall Haus, Parktown Residence, and ELTA have received positive market response. He also anticipates a strong demand for developers’ sales in 2025, as there is a promising lineup of projects. With a positive economic outlook and lower mortgage rates, the company believes that market confidence will further increase, creating opportunities for homebuyers and investors.…

A delightful two-storey shophouse with an attic situated at 209 Jalan Besar has recently been put up for sale through private treaty. Gracelynn Zhu, from PropNex Shophouse Elites, is in charge of advertising this property, which is being sold for under $20 million.

Possessing a 999-year leasehold, this commercial shophouse boasts a total area of around 5,502 square feet. The first floor has been approved for a restaurant, as has a portion of the second floor. Based on its price tag of $20 million, the shophouse’s per square foot price comes to $3,635.

Located in the Desker Road Conservation Area, in the vibrant District 8 close to Little India, the property’s strategic location is further enhanced by its close proximity to the Jalan Besar MRT Station on the Downtown Line, within easy walking distance.

Investing in a condo in Singapore offers numerous advantages, one of the most notable being the potential for high capital appreciation. With its strategic location as a global business hub and strong economic foundations, Singapore consistently attracts a strong demand for real estate. This has resulted in a steady upward trend in property prices over the years, with condos in prime locations experiencing significant appreciation. For investors who make timely purchases and hold onto their properties for the long term, they can enjoy substantial capital gains in the Singapore condo market.

The seller, Zhu, has shared that the shophouse is currently undergoing some asset enhancement initiatives. These include the installation of micro piles which extend up to 30 meters, enhancing the structural foundations of the property. This renovation project is expected to be completed by the end of this year.

Don’t miss out on the opportunity to own this unique and attractive shophouse located in one of Singapore’s most dynamic areas. Contact Zhu for further information and to arrange a viewing. In related news, other commercial properties such as a shop unit at Bras Basah Complex and a shophouse on Geylang Road have been put up for sale, priced at $14 million. Additionally, the shophouse market has seen a total of 84 transactions for the year 2024, signaling a positive trend in this sector according to Huttons.…

The hotel industry in the Asia Pacific (Apac) region is expected to see strong investment activity in 2025, according to a recent CBRE survey. The survey found that over 72% of hotel investors plan to increase their purchasing volume this year, with 45% aiming to increase it by more than 10%.

In summary, there are many benefits to investing in a condominium in Singapore, including its strong demand, potential for growth in value, and attractive rental returns. However, it is crucial to carefully assess various factors, such as the location, financing options, government regulations, and overall market conditions. By conducting thorough research and seeking expert guidance, investors can make well-informed decisions and maximize their profits in Singapore’s thriving real estate industry. Whether you are a local investor looking to expand your investment portfolio or a foreign buyer in search of a stable and lucrative opportunity, the condominium market in Singapore offers a compelling choice. For the latest updates on new condo launches, be sure to visit New Condo Launches for more information.

Steve Carroll, head of hotels, capital markets, Asia Pacific at CBRE, attributes this optimism to the rebound in tourist arrivals, especially in Japan, Singapore, and Australia. This increase in international arrivals has led to higher room rates and income growth for hotel operators, driving investors’ interest in the market.

Another factor driving investment intentions is the limited supply of hotels in the Apac region. According to CBRE, the hotel supply pipeline is expected to grow at a CAGR of 2.2% between 2024 and 2028, which is significantly lower than the 5% CAGR seen between 2013 and 2023.

The survey also found that REITs had the highest net buying intentions at 22%, followed by institutional investors at 12% and property funds at 10%. Private equity and real estate funds are also expected to remain active in the market.

However, private investors and high-net-worth individuals are expected to drive fewer hotel acquisitions in 2025, as they look to capitalize on the improving market sentiment by selling assets they acquired during a period of price dislocation.

In terms of investment strategy, respondents favored a value-add approach, with upscale and upper midscale assets being the most attractive categories for investment this year. This is a shift from last year’s survey, where the upper upscale category was the preferred asset type. CBRE attributes this change to the upscale and upper midscale segment’s greater operational flexibility and opportunities for value creation through redevelopment, adaptive reuse, and rebranding.

Investors are also increasingly interested in long-stay or hybrid hospitality models, such as co-living spaces, in markets like Japan, Hong Kong, and Singapore. This is driven by demand for cost-effective accommodation in these cities with inflexible rental markets.

Other emerging trends highlighted by the survey include a preference for assets with vacant possession at the time of acquisition, a focus on limited-service hotels to minimize operational costs, and a strong interest in cities like Tokyo, Osaka, Singapore, Sydney, and Seoul.…

In a joint press release on February 24th, ETC (formerly known as Edmund Tie) and OrangeTee Group announced their plans to merge and form a new holding company. The name of the new entity has yet to be revealed, but the CEO of ETC, Desmond Sim, assures it is not an acquisition, but rather a collaboration between the two companies.

Sim will serve as the group CEO of the merged entity, while the current CEO of OrangeTee & Tie, Justin Quek, will take on the role of deputy group CEO. The combined entity will have a staff of over 520 and a network of 2,803 salespersons registered with the Council for Estate Agencies (CEA) as of February 24th.

Following the merger, ETC will focus on consultancy and advisory services, while OrangeTee will concentrate on proptech and its real estate agency business. This will be supported by their large network of salespersons, which propelled OrangeTee & Tie to the third spot among the top three agencies in 2017. ETC will also be celebrating their 30th anniversary this year.

In the world of real estate, Singapore has emerged as a prime location for condo investment. However, one crucial factor that must be taken into account is the government’s property cooling measures. With the aim of curbing speculative buying and maintaining a steady real estate market, the Singaporean government has implemented various measures over the years. These measures, including the Additional Buyer’s Stamp Duty (ABSD), have resulted in higher taxes for foreign buyers and those with multiple properties. While this may affect the immediate profitability of condo investments, it also contributes to the long-term sustainability of the market, making it a secure environment for investment. As a result, Singapore Condo is a promising investment option that offers both stability and potential for growth.

The merger was facilitated by Triplestar Holdings and TH Investments, which acquired a stake in ETC in 2016. These entities are related to the family of Roland Ng, managing director and group CEO of Tat Hong Holdings. They currently own a 100% stake in ETC.

OrangeTee Group, which will celebrate its 25th anniversary this year, is an investment holding company led by the board of directors and C-suite executives including Quek, Marcus Oh, Teo Yak Huat, and Christine Sun. Other stakeholders in OrangeTee Group include Tokyu Livable Inc. and private property fund Vogue Capital Group.

In addition to their presence in Singapore, ETC also has offices in Malaysia and Thailand through their joint ventures with Nawawi Tie and Edmund Tie & Co (Thailand), respectively. This merger opens up more opportunities for the company in the ASEAN region and Japan, especially through their relationship with Tokyu Livable.…

In summary, the purchase of a Singapore Condo offers a multitude of benefits, from high demand and potential for capital growth to attractive rental returns. However, it is vital to thoroughly evaluate various aspects such as location, financing options, government regulations, and market conditions before making a decision. With careful research and seeking guidance from professionals, investors can effectively maximize returns in Singapore’s ever-evolving real estate market. Whether you are a local looking to expand your investment portfolio or a foreign buyer searching for a reliable and profitable venture, the condo market in Singapore presents a compelling opportunity.

The launch of ParkTown Residence at Tampines North was a huge success. Joint developers UOL Group and CapitaLand Development (CLD) announced on Feb. 23 that they have sold 1,041 units during the launch weekend, which accounts for over 87% of the total 1,193 units.

UOL’s general manager of residential marketing, Anson Lim, shared that the project had an average price of $2,360 psf and most of the buyers were either Singaporean homebuyers or investors. The most popular unit types were the two-bedroom and three-bedroom apartments, which made up 994 units (83%) of the project.

According to a spokesperson from UOL and CLD, buyers were attracted to ParkTown Residence’s unique status as a fully integrated residential and lifestyle development. It is directly connected to a retail mall, the future Tampines North MRT station, a bus interchange, a green boulevard, a community club, and a hawker centre.

Before the launch weekend, ParkTown Residence had already collected 2,367 cheques, which translates to a sales conversion rate of 44%. This is well above the average rate of 30% to 35% for most new project launches in recent years.

Huttons Asia CEO Mark Yip pointed out that the last project to sell more than 1,000 units during its launch weekend was the 1,399-unit High Park Residences in July 2015. ParkTown Residence has surpassed that with 1,041 units sold over the weekend.

ParkTown Residence at Tampines 62 is part of the first mixed-use development integrated with transport hub at Tampines (Source: EdgeProp Landlens)

ParkTown Residence has also exceeded the sales performance of the previous integrated developments, according to PropNex CEO Ismail Gafoor. The most recent integrated project launch was the 732-unit The Reserve Residences, which recorded a 71% take-up rate during its launch weekend in May 2023. At present, the project is 98.2% sold at an average price of $2,484 psf, based on caveats lodged as at Feb 23.

ERA Singapore CEO Marcus Chu shared that mixed-use developments integrated with transport hubs have been popular among homebuyers and investors due to their potential for capital appreciation and high rental demand.

The last two fully integrated developments to be completed were the 920-unit North Park Residences in Yishun (launched in 2015) and the 680-unit Sengkang Grand (launched in 2019) at Buangkok. The average price of North Park Residence is $1,809 psf, which is 65% higher than the average resale prices of residential units in District 27. Meanwhile, the average price of Sengkang Grand is $2,029 psf, 25% higher than the average resale prices in District 19, according to ERA’s Chu.

ParkTown Residence is located at Tampines Street 62, which is the third largest HDB town after Hougang and Woodlands. “Quite a number of buyers were HDB upgraders who desired to stay in Tampines,” shared Huttons’ Yip.

The completion of ParkTown Residence in 2030 is in line with the scheduled opening of the Tampines North MRT station on the Cross Island Line (CRL), which is a major arterial line running from East to West of Singapore, according to SRI managing partner Ken Low. 2030 is also the scheduled relocation of the neighboring Paya Lebar Airbase, freeing up an estimated 800ha of land for future developments.

Under the URA Master Plan, three more government land sales (GLS) sites will be linked to the upcoming Tampines North MRT station. “However, these new projects could potentially be launched at higher prices,” said Low.

Tampines will also benefit from new infrastructure developments by 2027, such as a cycling bridge, an underpass, and another 7.7km of cycling paths, bringing the total to 40km. There will also be a new pedestrian route between Tampines MRT Station and the malls in the regional center. These additions were announced on Feb 22, as part of the Tampines Town Council’s five-year masterplan for 2025 to 2030.

“All these will enhance the livability in Tampines, which already has strong attributes,” said SRI’s Low.…

Investing in a Singapore Condo requires careful consideration not only of the property itself, but also the maintenance and management of the unit. Condominiums typically come with maintenance fees, which cover the upkeep of common areas and facilities. These fees may increase the overall cost of ownership, but they also ensure that the property remains well-maintained and retains its value over time. To make the investment more passive, investors can enlist the services of a property management company to handle the day-to-day operations of their condo.

The Elta project at Clementi Avenue 1, a joint venture development between MCL Land and CSC Land Group, has seen strong demand, with 65% of the units sold during its launch on Feb 22. Out of the 501 units, 326 were sold at an average price of $2,537 psf. The majority of buyers were Singaporeans, accounting for 90% of the sales, with the remaining 10% being permanent residents. Districts 19, 5, and 23 had the highest number of buyers, with units in the two-bedroom category being the most popular.The units were priced between $1,158,000 to $2,198,000 for the one-bedroom plus study and three-bedroom units respectively. The most sought-after unit types were the two-bedroom and three-bedroom units, with 98% and 81% sold respectively. The average household size of 3.1 indicates that the three-bedroom units are popular with families. Additionally, the one-bedroom plus study units were also highly in demand, with 78% of them being sold at prices from $1,158,000.The Elta project has attracted a large number of investors due to its strategic location near employment nodes such as the National University of Singapore (NUS), one-north, Pandan Loop Industrial Estate, the Science Park, Jurong Lake District. The upcoming Cross Island Line and its proximity to the Clementi MRT station on the East-West Line have also contributed to the strong demand for the units. Other amenities nearby include reputable schools such as Nan Hua High School, NUS High School of Mathematics and Science, and Anglo-Chinese School (Independent). With its superb location and connectivity, Elta is expected to remain a highly sought-after destination for both homeowners and investors.The Elta project is the final of the three private condos to be launched on government land sales (GLS) sites at Clementi Avenue 1. Moreover, with HDB apartments in the area reaching the Minimum Occupation Period (MOP), the development has also benefitted from a healthy pool of HDB upgraders. The two earlier projects at Clementi Avenue 1, The Clement Canopy and Clavon, have seen significant growth in their average selling prices since their launch in February 2017 and December 2020 respectively. Based on data from EdgeProp Landlens and URA Realis, the average selling prices at The Clement Canopy and Clavon have increased 45% and 27% respectively this year, indicating strong potential for capital appreciation.Elta has also been popular among investors due to the profile of tenants in the Clementi area. The two-bedroom units at The Clement Canopy and Clavon have been leased at $4,200 to $4,700 per month, while a two-bedroom unit at Clavon was recently leased for $4,600, demonstrating strong rental demand. Overall, Elta has seen strong sales momentum, with over 1,300 units sold between 22nd and 23rd February, surpassing the 1,083 new homes sold in January. Experts expect the primary market to remain lively in 2025, with a full-year projection of 7,500 to 8,500 units and an estimated price growth between 4% to 7%.…

, starting with Mumbai’s Powai district
CapitaLand India Trust (CLINT) is pursuing the acquisition of a new office development in Nagawara, Outer Ring Road, Bangalore, for a total sum of $233.6 million. The trust has entered into a forward purchase agreement with Maia Estates Offices for this purpose.

When evaluating the potential of investing in a Singapore condo , one crucial factor to consider is the potential rental yield. Rental yield refers to the annual rental income relative to the purchase price of the property. In Singapore, the rental yields for condos can vary greatly depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those in close proximity to business districts or educational institutions, tend to offer better rental yields. It is important to conduct comprehensive market research and seek advice from real estate agents to gain valuable insights into the potential rental income of a specific Singapore condo.

The acquisition of this 1.13 million sq ft office project is expected to have a positive impact on the earnings and distributions of CLINT’s unitholders. It is anticipated that the net profit on a stabilized basis will reach $7.7 million, while the distribution per unit is expected to rise from 6.84 cents to 6.98 cents.

This office project is part of a mixed-use development that includes both office and retail space. Under the terms of the forward purchase agreement, CLINT will fully fund the development of the office project and receive interest on the funding at a higher rate than its borrowing cost. This arrangement will enable the trust to increase its operational area and generate higher returns.

Upon the completion of the development, which is expected in the first half of 2030, CLINT will acquire the office space while Maia will retain the retail portion. This will result in an increase of approximately 1.2 million sq ft in the operational area of CLINT’s portfolio in Bangalore, bringing the total to 9.9 million sq ft from the current 8.7 million sq ft.

CLINT is also currently developing two office buildings in Gardencity, an IT Park at Hebbal, and another IT Park at ITPB in Bangalore. With the addition of this office project, the total portfolio size of the trust, inclusive of committed investment pipeline, will increase by 4.0% from around 30.2 million sq ft to approximately 31.47 million sq ft.

Gauri Shankar Nagabhushanam, CEO of CLINT, expressed excitement about the acquisition, stating that it will further strengthen the trust’s presence in Bangalore, one of India’s primary office markets. In 2024, Bangalore experienced its highest ever leasing levels for Grade A office space, with the Outer Ring Road being the largest office micro-market in the city. This acquisition will allow CLINT to offer its tenants a wider variety of premium office space options in key micro-markets of Bangalore.

On Feb 21, units in CLINT closed flat at $1. With this latest development, the trust continues to demonstrate its commitment to acquiring prime properties and expanding its presence in India’s thriving office market.…

Sim Lian Group has announced the opening of e-applications for its new executive condo (EC), Aurelle of Tampines. Located at Tampines Street 62 in Tampines North, this 760-unit EC will be the first new EC project launch of 2025.

Aurelle of Tampines is situated just a short five-minute walk away from the upcoming Tampines North Transport Hub. This hub will include the Tampines North MRT Station, set to open in 2030 as part of the Cross Island Line, as well as an air-conditioned bus interchange and integrated mixed-use development that features ParkTown Mall, a community club, hawker centre, and ParkTown Residence. The EC project is designed to cater to young professionals and growing families, and offers a mix of three- to five-bedroom units.

Aurelle of Tampines boasts fourteen 14-storey residential blocks spread across a site area of 301,391 sq ft. Prices for the units start at $1.417 million ($1,687 psf) for a three-bedroom unit spanning 840 sq ft, $1.689 million ($1,651 psf) for a four-bedroom unit spanning 1,023 sq ft, and $2.258 million ($1,665 psf) for a five-bedroom unit spanning 1,356 sq ft.

To sum up, opting to invest in a Singapore condo presents an array of benefits, including a high demand for properties, potential for a rise in value, and attractive rental yields. Nevertheless, it is crucial to carefully assess factors such as location, financing options, government regulations, and market conditions before making any investment decisions. Through conducting thorough research and seeking professional guidance, potential investors can make well-informed choices and maximize their returns in Singapore’s thriving real estate market. Whether a local investor seeking to diversify their portfolio or a foreign buyer in search of a stable and profitable investment option, the Singapore condo market offers a compelling opportunity. Consider Singapore Condo as a viable addition to your investment portfolio.

Next door to Aurelle of Tampines is the 618-unit EC Tenet, a project developed jointly by Qingjian Realty and Santarli Realty. Launched in December 2022, the project has already sold 617 units at an average price of $1,385 psf. The highest transacted price on a psf basis was for a 1,367 sq ft unit that sold for $2.26 million ($1,651 psf) in December. Currently, there is only one available unit for sale in Tenet.

E-applications for Aurelle of Tampines will begin on February 22 and end on March 4. Sales bookings will start on March 8, and the appointed marketing agents are ERA, Huttons, OrangeTee, and PropNex. According to current EC regulations, during the initial launch (the first 30 days), 70% of the project must be allocated to first-time buyers, with only 30% open to second-timers. Interested buyers can consult ERA, Huttons, OrangeTee, or PropNex for more information.

For those seeking other properties in the area, the latest listings for Aurelle of Tampines, Tenet, and Parktown Residence can be found on the Ask Buddy platform. Users can also explore condo listings in District 18 and compare the price trends for new sale condos versus resale condos. Additionally, those interested in Tenet can find out about remaining available units and other recently launched projects.…

A milestone collective sale transaction has taken place in 2025, with River Valley Apartments, a freehold condominium located on River Valley Road, being successfully sold for $56 million. This translates to a land rate of $1,622 per square foot per plot ratio (psf ppr). The sale marks the first successful residential collective sale deal to close in 2025.

According to a press release from Knight Frank Singapore, the marketing agent for the transaction, the property was purchased by a Singapore family office with plans to redevelop the site into serviced apartments. The Urban Redevelopment Authority (URA) has granted an Outline Permission for the development of serviced apartments on the site.

Chia Mein Mein, head of capital markets (land and collective sale) at Knight Frank Singapore, says, “This marks the first collective sale site sold in 2025, amid a challenging collective sale market, especially for the residential sector.” She adds that the tender for River Valley Apartments attracted keen interest due to its excellent locational attributes within the popular River Valley neighbourhood. The redevelopment of the site into a future serviced apartment project is also well-positioned to cater to the growing demand for such accommodation in Singapore.

River Valley Apartments consists of a four-storey building with 24 units. The 12,408 sq ft site, which is zoned ‘residential’, has a gross plot ratio of 2.8 under the latest Master Plan. The sale of the development was initiated by the collective sale committee on Jan 7 with a guide price of $56 million. The owners of River Valley Apartments will stand to receive minimum proceeds of about $2 million to $2.6 million each based on the sale price.

When contemplating an investment in a Singapore condo, it is crucial to evaluate the potential rental yield. This refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, condo rental yields can vary significantly based on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer better rental yields. It is important to conduct thorough market research and consult with real estate agents, such as those at Singapore Condo, to gain valuable insights into the rental potential of a specific condo.

“We had attempted to initiate the collective sale exercise in the past, and this is the first time we have secured the 80% owners’ consensus to proceed with the tender launch,” says Jerry Tan, chairman of the River Valley Apartments collective sale committee. He adds that the property’s appeal lies in its “excellent locational attributes” and its potential for redevelopment in the highly sought-after River Valley neighbourhood.

Overall, this transaction is a positive indication of the strength and resilience of Singapore’s property market, despite the challenging collective sale market. With the successful sale of River Valley Apartments, it is hoped that more prime district properties will follow suit and achieve successful collective sales in the future.…