Extraordinary Properties in Singapore

In the second half of 2024, institutional investments in real estate in the Asia Pacific (Apac) region reached US$83.2 billion ($112 billion), representing a 6% increase from the previous year, according to a report by Colliers. This brought the total investments for the whole of 2024 to US$155.9 billion, marking a 12% year-on-year growth. The figures cover the top nine markets in the region, including Australia, Mainland China, Hong Kong, India, Japan, Singapore, South Korea, New Zealand, and Taiwan.

This rise in investments demonstrates the resilience of the Apac real estate market and sets the stage for a strong 2025, says Chris Pilgrim, managing director of global capital markets, Asia Pacific at Colliers. He also notes that domestic investors have been the driving force behind the growth in markets such as South Korea, Taiwan, and New Zealand, with local investors contributing over 80% of real estate inflows in these markets in the second half of 2024.

The office sector was the largest contributor to the Apac investment volume, accounting for US$26.5 billion (32%) of the total in the second half of 2024. For the whole of 2024, office investments reached US$51.4 billion, up 14% from the previous year. The industrial …

for $300 mil

Lee Chee Koon, the group CEO of CapitaLand Investment Limited (CLI), has been honoured with the prestigious title of ‘Industry Figure of the Year’ for Asia Pacific at the 2024 PERE Global Awards.

These annual awards, which are hosted by a London-based publication that covers private equity real estate markets, recognize influential firms, individuals, and outstanding deals from the previous year. In addition to this accolade, CLI was also the runner-up in the ‘Firm of the Year’ category for Asia Pacific.

Unlike previous editions, where reader votes determined the winners, the 2024 winners were selected by a panel of judges from the PERE publication. In a press release on March 4, CLI stated that CEO Lee’s award is a testament to his leadership in driving the company’s transformational growth and his significant contributions to the private real estate industry in the Asia Pacific region.

Since assuming the role of CapitaLand’s group CEO in September 2018, Mr Lee has spearheaded key initiatives that have contributed to the company’s success. These include the acquisition of Ascendas-Singbridge in 2019 and the 2021 restructuring of the CapitaLand Group, which resulted in the listing of CLI and the privatization of its real …

Singapore-based private equity real estate firm, SC Capital Partners Group, has announced the sale of its student accommodation asset in Sydney, Australia. The property, situated on Anzac Parade and Lorne Avenue in Kensington, was sold at a “significant premium” to its acquisition cost and a 19% premium to its current book value, according to a press release issued on March 3.

The buyer of the asset is the University of New South Wales (UNSW) in Sydney, who will now take over ownership of the property. SC Capital Partners had acquired the property in 2016 at a reported cost of A$57 million. This latest sale marks a successful exit for the group after five years of ownership.

The purpose-built student accommodation spans over 85,000 square feet and comprises 233 beds as well as a ground-floor commercial podium. Its proximity to the UNSW Kensington Campus, within 600 meters, makes it a highly desirable location for students. Currently, the student accommodation component is fully leased out to UNSW, with a 20-year master lease signed in 2019.

This transaction highlights the increasing competition in the global private equity real estate market, with firms vying for prime assets to add to their portfolios. SC Capital …

The share price of City Developments has taken a hit, dropping by 5.47%, as the internal power struggle within the company reached the courts. The trading of shares had halted on February 26, and a scheduled results briefing was cancelled, leading to the news of a rift between executive chairman Kwek Leng Beng and his son, group CEO Sherman Kwek.

In response to this, the company stated that it will not comment on the validity of the allegations made by the media, as many of them are the subject of ongoing court proceedings. It also assured shareholders that the business operations remain unaffected and that Sherman Kwek will continue as the Group CEO until there is a resolution to change leadership.

However, analysts have downgraded their calls and reduced target prices, citing the disruption caused by the boardroom-cum-family dispute. UOB Kay Hian’s Adrian Loh downgraded the stock from “buy” to “hold” and revised his target price from $7 to $4.60, based on a two standard deviation below its five-year average P/B of 0.72 times. He believes that the stock will have difficulty performing amid this uncertainty.

Similarly, DBS Group Research’s Derek Tan and Tabitha Foo also maintained their “buy” call …

Perpetual (Asia) Limited, the trustee of Elite UK REIT, has recently sold Crown Buildings, Caerphilly at Claude Road, Caerphilly for GBP710,000 ($1.2 million). The transaction was completed at an 18% premium, according to a March 3 bourse filing by the manager of Elite UK REIT.

The vacant property, which is located in Wales, was valued at GBP600,000 at the end of 2024 based on an independent valuation conducted by CBRE. The value of the property was previously estimated at GBP530,000 at the end of 2023.

The net proceeds from the sale of Crown Buildings, Caerphilly will be used to repay Elite UK REIT’s outstanding borrowings. According to the REIT’s website, the property has a total gross floor area of 20,712 square feet.

The successful preferential offering of GBP28 million in January 2024 has enabled Elite UK REIT to reduce its leverage ratio from 50.0% at the end of 2023 to 43.4% at the end of 2024. The net gearing ratio also decreased from 47.5% to 42.5% during the same period.

Fortunately, there is no debt maturing in 2025 and 2026, and the REIT’s refinancing is only due in 2027. This provides Elite UK REIT with a stable financial standing for …

The record for the most profitable condominium resale transaction in the week of Feb 7 to Feb 14 was set by Mandarin Gardens, with a 3,800 sq ft unit fetching $4.88 million, or $1,284 psf. This is a significant increase from when it last changed hands in 2003 for $1.05 million, or $276 psf, resulting in a profit of $3.83 million, or 364.8% of the original purchase price. This represents an annualised capital gain of 7.4% over 21½ years.There are a total of 18 four-bedroom units at Mandarin Gardens, with the last one being sold in 2023 for $4.26 million, or $1,122 psf. The project has seen a peak in prices in 2024 at $1,316 psf before dipping slightly to $1,310 psf as of Feb 25.Mandarin Gardens is a 99-year leasehold development with about 56 years remaining, located along Siglap Road in District 15. It comprises 1,006 units across 17 blocks from nine to 23 storeys. Units are a mix of one- to two-bedroom apartments from 732 sq ft to 1,001 sq ft, and three- to four-bedroom units from 1,528 sq ft to 3,800 sq ft. It also contains 11 strata commercial units.The second most profitable resale transaction in the …

During the period from February 7 to 16, the private condo market saw a new record being set with the sale of a two-bedroom unit at Hill House. The 999-year leasehold development located at the top of Institution Hill achieved a new psf-price high of $3,398 when the 452 sq ft unit on the eighth floor was sold by the developer for $1.54 million on February 16.

This transaction marginally surpassed the previous peak of $3,378 psf set on February 11 when another 452 sq ft, two-bedroom unit on the eighth floor was sold for $1.53 million. Hill House, a 72-unit development launched in 2022, comprises mostly one-bedroom units of 431 sq ft. It also includes 24 two-bedroom units ranging from 452 sq ft to 624 sq ft and 8 three-bedroom units spanning 753 sq ft.

For more information on the latest New Launches, interested buyers can search for transaction prices and available units.

According to URA caveats, since its launch in November 2022, 37 units (51.4%) at Hill House have been sold at an average price of $3,152 psf. However, the development is currently still under construction and is expected to be completed in the third quarter of 2026. …

After the successful development of quality commercial and industrial spaces in Singapore, Chiu Teng Group has now launched their latest project – CT Pemimpin. This freehold development is sure to excite property investors and business owners who are on the lookout for a rare gem in the land-scarce city.

Located at 43 Jalan Pemimpin in the Central Region, CT Pemimpin is a nine-storey, partial ramp-up factory building consisting of 56 strata-titled units and three canteen units. The units on levels one and five also have mezzanine floors with floor heights ranging from 5.6m to 7.35m.

One of the highlights of CT Pemimpin is its freehold status, which is a rarity in today’s market where most industrial developments come with a limited 30-year or 60-year lease. This makes it an exceptional find for investors and foreigners, who are eligible to purchase without being subjected to the Additional Buyer’s Stamp Duty (ABSD) by the government.

Kelvin Fong, the Deputy CEO of PropNex Realty, says, “Being a freehold development in such a central location, it is a great investment asset for both investors and end-users.”

CT Pemimpin also boasts a generous one-to-one carpark ratio with 59 carpark lots, including two electrical vehicle lots, …

BRANDINSIDERWed, Feb 26, 2020

The next ERA auction on February 27 will feature a pair of retail units on the third floor of Sim Lim Square with a combined guide price of $3.38 million.

One of the units, approximately 958 sq ft, is listed at $2.08 million ($2,171 psf), while the smaller unit, roughly 570 sq ft, has a guide price of $1.28 million ($2,246 psf). This will mark the first time both units have appeared on ERA’s auction listings, as they are being sold by the owner.

The units can be bought together or separately, and according to Alison Lee, assistant vice president of auction and sales at ERA, they are competitively priced, slightly below the market average. This is intended to encourage a quick sale.

Sim Lim Square has a reputation as a tech hub and is known for its wide range of electronics and computer retailers. It also houses various other businesses such as eateries and shops selling traditional Chinese medicine.

The two units up for auction are currently tenanted, generating a monthly rental income of about $4.50 psf. Based on a rolling 12-month average, retail units at Sim Lim Square yield between $4.20 and $7.30 psf …

https://www.edgeprop.sg/property-news/retiree-doubles-his-money-8-years-units-sold-avg-110-gain?utm_source=Facebook&utm_medium=social&utm_campaign=EchoHypeSgpSep2021&utm_content=edgenowTo anyone planning to buy properties, it’s always a great idea to do your own research and consult property agents to get the best possible price. That being said, the property market is a constantly changing landscape that requires a lot of attention and careful planning. Mr Chong, a retiree, has been supporting his sons when they were purchasing their own homes. His eldest son bought a private condo, while his two younger sons bought executive condominiums (ECs). According to Mr Chong, buying an EC at a new launch is a no-brainer. Even if you buy it after the five-year minimum occupation period (MOP), you are still getting a good deal.

Mr Chong has experienced both situations. His second son bought a three-bedroom unit at Hundred Palms Residences, which is a 531-unit project that launched in July 2017. His son originally wanted to buy a four-bedroom unit, but they were quickly snapped up. However, even after missing out on the bigger unit, Mr Chong’s son saw a significant price appreciation when he sold it in 2019. Based on caveats lodged in January and February 2025, the average selling price for units in Hundred Palms Residences was $1,769 psf, which translates …