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[News] Keppel to redevelop Keppel Towers (now South Central) into state-of-the-art commercial building

Singapore-based asset management company Keppel is shifting its focus towards revitalizing existing properties after the successful completion of Keppel South Central, a commercial tower in the city’s Tanjong Pagar district. Samuel Ng, president of Keppel’s real estate division, refers to the project as the company’s “showpiece” and highlights its significance in the company’s pivot towards more brownfield redevelopment projects.

Keppel South Central is a result of the redevelopment of two older office buildings, Keppel Towers and Keppel Towers 2, which were completed in 1991 and 1993, respectively. The 33-storey tower offers 650,000 sq ft of office, retail, and event space, with floor plates ranging from 20,000 to 22,000 sq ft. The tower has already secured an anchor tenant, a leading financial services group, and is expected to welcome office occupants from June.

Apart from its prime location and state-of-the-art facilities, Keppel South Central also boasts a series of technological improvements that bring it up to par with other Grade-A office buildings in the Central Business District (CBD). These include features such as facial recognition access, 5G Wi-Fi, and an indoor air-quality management system. The building also incorporates …

A 99-year leasehold semi-detached house in District 16 will be up for auction on March 15 at SRI’s next auction with a guide price of $3.65 million. The property, located on Kew Heights, sits on a 3,034 sq ft corner plot and boasts a land rate of $1,203 per square foot.

This mortgagee sale marks the first time the property will be available for purchase through auction. It will be sold with vacant possession.

The semi-detached house spans over three floors and offers a floor area of 4,436 sq ft. The ground level features a living hall with a double-volume ceiling, a dining area, a kitchen, and a helper’s room. The upper two levels house six bedrooms, a family area, and a storeroom. Additional features include a car porch and a backyard area.

According to Mok Sze Sze, managing partner of auctions and sales at SRI, potential buyers may have the chance to convert some of the open areas into extra bedrooms, making the property perfect for extended or multi-generational families. Additionally, the guide price of $1,203 psf is considered one of the lowest in the area. URA caveats show that the property was last sold in November 2021 for …

An impressive penthouse at the Trizon condo on Ridgewood Close was sold for the highest resale profit during the week of Feb 25 to March 4. The 5,737 sq ft unit on the 23rd floor was sold for $9.76 million ($1,701 psf) on Feb 27, making it the most profitable resale transaction at the development to date. The seller, who had bought the unit for $6.55 million ($1,142 psf) in March 2016, earned a profit of $3.2 million (49%) from the sale. This translates to an annualized gain of 4.5% over nine years.

The Trizon is a freehold development in prime District 10, situated close to the exclusive Mount Sinai landed enclave and the private residential estates of Pandan Valley and Pine Grove. Other nearby new 99-year-leasehold projects include the 520-unit Pinetree Hill and the 552-unit Nava Grove. The Trizon offers a mix of two- to five-bedroom units, with typical units ranging from 1,012 sq ft to 5,102 sq ft, and penthouses ranging from 5,328 sq ft to 7,083 sq ft.

The second most profitable resale transaction during the week took place at Haig Court in District 15 on Feb 27. A 1,442 sq ft three-bedroom unit on the third …

4-bedder at Gallop Gables transacted at a lossCopy:A two-bedroom unit at The Esta emerged as the top private condo that achieved a new psf-price high from Feb 21 to 28. Located in District 10, the freehold development reached a new price peak of $2,377 psf when a 1,001 sq ft unit was sold for $2.38 million on Feb 26. The sellers, who had bought the seventh-floor unit for $1.83 million ($1,833 psf) in March 2021, profited about $545,000 from the deal.The latest transaction surpasses the previous record price of $2,317 psf set in January last year when a 1,346 sq ft, three-bedroom unit on the 13th floor was sold for approximately $3.2 million.The average resale price of units at The Esta has seen a steady increase over the past three years, with 10 units sold at an average psf-price of $2,012 in 2022, nine units at an average price of $2,156 in 2023, and another nine units at an average price of $2,248 psf last year, reflecting an 11.7% increase in average resale prices since 2022.Read also: Four-bedroom unit at freehold Gallop Gables fetches $2,299 psfBy absolute price, the most expensive unit sold at The Esta was a 3,477 sq …

According to the 2021 Emerging Trends in Real Estate Global Outlook by PwC and the Urban Land Institute (ULI), published on March 12, property investors in the Asia Pacific (Apac) region are concerned about low yields and “sluggish” transaction volumes.

The report gathers investor sentiment from global asset managers, including US-based Blackstone, UK-based Savills Investment Management, and CBRE Investment Management. Over 70% of survey respondents identified low yields, persistently high interest rates, and geopolitical tensions as the top three concerns among investors.

The report notes that industry leaders continue to view Asia Pacific as an attractive diversification strategy due to its population growth, demographic metrics, and divergent monetary policies, such as Japan’s commitment to raising short-term interest rates. Last year, real estate transactions in the region grew by 13% year-on-year to US$173.5 billion ($231.3 billion), surpassing Europe’s 12% growth and the Middle East and Africa’s (EMEA) 11% growth.

However, as Europe and North America look to stimulate a new capital markets cycle with volumes expected to increase further in both regions, transaction volumes in Apac are expected to remain sluggish. Liquidity in Asia Pacific was affected last year by a decline in transaction volume. In China, transactions fell by 25% …

A rare 999-year leasehold conservation shophouse, located at 20 Liang Seah Street, has been put on the market for $15 million. The property is being marketed exclusively by SRI Capital Market through an expression of interest (EOI) exercise.

The intermediate shophouse spans across three storeys and sits on a 1,129 sq ft plot that is zoned for both residential and commercial use. Under the latest Master Plan, the property has a gross plot ratio of 4.2. The built-up area is 2,635 sq ft, with a guide price of $2,635 per square foot.

Approved for restaurant use on the ground and second floors, and with a residential space on the third floor that is currently leased out, this property is a desirable investment for end-users such as F&B tenants or corporate offices. According to Low Choon Sin, the managing partner of SRI Capital Market, the third floor can also serve as accommodation for staff members. The shophouse boasts prominent frontage along Liang Seah Street, which experiences high levels of vehicular traffic during the day. It is also conveniently located near the vibrant restaurants and shops in the Bugis area.

Low also emphasises the long-term potential of 20 Liang Seah Street, which …

, with private equity partner Seacrest

The power struggle between members of the board at City Developments Limited (CDL) appears to have reached a resolution, with executive chairman Kwek Leng Beng dropping all legal action against a group of directors led by his son, group CEO Sherman Kwek. The board will also include two newly appointed independent directors, Jennifer Duong Young and Su Yen Wong.

In a joint statement, all members of the board have agreed to put their differences aside for the benefit of CDL and its stakeholders. “We will continue to focus on strengthening CDL’s business, promoting good corporate governance, and maximizing shareholder value,” said Leng Beng on behalf of the board.

The power struggle within CDL’s board has been ongoing, with allegations of poor corporate governance and a board coup by Sherman Kwek against his father. However, with this recent development, it seems that the board has found a way to work together towards the common goal of growing CDL’s business.

The statement also highlighted CDL’s current projects in Singapore and globally, the expansion of its brands under Millennium & Copthorne, and its capital recycling initiative. With this resolution, CDL can now fully focus on these projects …

Steve Leung Design Group (SLD), the highly esteemed interior design firm founded by renowned architect and designer, Steve Leung, is embarking on its first foray into the European market through a partnership with renowned Italian designer, Andrea Bonini.

As part of this new venture, SLD will be establishing its first European branch under the brand SLD . Andrea Bonini, offering a range of interior design services and products to clients in both Asia and Europe. This will include high-end residential projects as well as luxurious hospitality designs.

The launch of SLD . Andrea Bonini is set to take place in April at the prestigious Salone del Mobile in Milan, Italy, which is known for its annual furniture fair. This event will also serve as a platform to showcase the brand’s debut products – a sophisticated smart home lighting collection developed in collaboration with renowned smart home manufacturer, Moorgen.

This exciting collaboration marks SLD’s first expansion beyond its home base in Hong Kong. In a recent press release, the company expressed its new business direction, which centers around “rejuvenation, diversification, and globalization.” With over 28 years of experience and a strong competitive edge in the market, SLD is determined to bring …

markShare the love Can you, please, rewrite the attached article about CapitaLand Group’s partnership with Microsoft to leverage advanced technologies and AI for its businesses. Capitaland Group has recently signed a memorandum of understanding (MoU) with Microsoft in an effort to tap into the potential of artificial intelligence (AI) and other cutting-edge technologies for its operations.

As part of this collaboration, CapitaLand will join Microsoft Singapore’s AI Pinnacle Program, which will provide access to a range of Microsoft platforms, services, and solutions. This will enable CapitaLand to enhance customer engagement and improve efficiency across its various businesses, such as funds, investments, retail, lodging, and development.

The partnership will explore potential areas for collaboration, with a focus on infrastructure development and leveraging Microsoft’s Azure cloud computing platform to design and develop data centers for CapitaLand Investment. In addition, the integration of AI, data analytics, and machine learning will play a key role in the company’s digital and business transformation efforts.

Quah Ley Hoon, group chief corporate officer of CapitaLand Investment, shared, “Our collaboration with Microsoft is a significant milestone in CapitaLand’s journey towards digital transformation. AI will be crucial in shaping our future by driving operational efficiencies and creating value for …

completionSol Acres en bloc fails to garner bids of more than $849 million”Mou” Inked between Microsoft and Capitaland Group to Implement Advanced Technologies

Microsoft and CapitaLand Group have entered into a partnership by signing a Memorandum of Understanding (MOU) to harness artificial intelligence and advanced technologies for their businesses. This collaboration will allow CapitaLand to join Microsoft Singapore’s AI Pinnacle Program, giving them access to various platforms, services, and solutions offered by Microsoft. The goal of this partnership is to enhance customer engagement and improve operational efficiency across CapitaLand’s funds, investments, retail, lodging, and development businesses.

As part of the agreement, the two companies will work together to identify potential collaboration areas in infrastructure development. This includes leveraging Microsoft’s Azure cloud computing platform to design and build data centers for CapitaLand Investment. Additionally, the integration of AI, data analytics, and machine learning will be explored to strengthen CapitaLand’s digital transformation efforts.

Quah Ley Hoon, CapitaLand Investment’s Group Chief Corporate Officer, says, “Our collaboration with Microsoft is a significant step in CapitaLand’s digital transformation journey. AI will play a pivotal role in shaping our future, driving operational efficiencies and creating value for our stakeholders.”

In addition, CapitaLand Investment (CLI), the real …