Scb11980 1st Gear March 23, 2012 Share March 23, 2012 Tai Keng Court fetches moer than selling price 23 March 2012 Straits Times THE owners of Tai Keng Court have defied the subdued collective sale market by selling their mixed-use estate for about 25 per cent more than they asked for. They will get $161.1 million for the freehold plot at the junction of Jalan Lokam and Upper Paya Lebar Road, which works out to $1,109 per sq ft (psf) per plot ratio (ppr). Flat owners can expect to receive gross proceeds of about $1.89 million - around 50 per cent more than if they had sold their units individually. Shop owners will reap between $2.19 million and $2.55 million, said marketing agent Jones Lang LaSalle (JLL). The complex has 56 apartments and 24 shops in three blocks. The $161.1 million bid is the highest unit price achieved in at least four collective sales struck this year and largest total quantum. The previous high for the year was the $96.2 million for Seletar Garden. The Straits Times understands that about five bidders took part in the tender, with most offering more than the $130 million asking price. A joint venture between Fragrance Group, with a 60 per cent share, and Aspial Corp topped the tender. Experts said developers lost interest in collective sales on the back of a new rule that requires them to build and sell all units in a project within five years of acquiring the site or pay a 10 per cent additional stamp duty. But the popularity of mixed-use projects such as Bedok Residences, Watertown in Punggol and The Hillier in Upper Bukit Timah that have hit the market recently meant Tai Keng Court stood a good chance of attracting buyer interest. Mr Nicholas Ng, associate director of investments at JLL, noted that the estate also had a freehold tenure, unlike recent mixed-development launches, most of which had 99-year leases. 'Developers are aware of the rarity of such sites. This is especially so as Tai Keng Court, built in the early 1970s, sits on a large freehold site with a commercial component, which has great convenience and frontage, and is long due for redevelopment,' he added. The 103,798 sq ft site is zoned residential and commercial and has a gross plot ratio of up to 1.4. Up to 40 per cent of its potential gross floor area of 145,317 sq ft can be used for commercial space. It can be built up to five storeys. ↡ Advertisement Link to post Share on other sites More sharing options...
Scb11980 1st Gear March 23, 2012 Author Share March 23, 2012 Business Times - 23 Mar 2012 Foreigners still keen on waterfront homes By MICHELLE TAN HALF of the units sold at Reflections at Keppel Bay in recent months were scooped up by foreigners, suggesting foreign demand for local luxury homes has not totally abated. Keppel Land sold a total of six units (at an average price of $2,100 per square foot) at the luxury waterfront development over the past two- and-a-half months, out of which three units were bought by foreigners. 'There is still a worldwide trend for waterfront living,' said Augustine Tan, president (Singapore residential) of Keppel Land who remains bullish on the outlook for waterfront homes. To add to the draw, all homeowners of Keppel Bay are also given a complimentary 10-year membership and five-year membership subscription at the Marina. Obtaining its TOP (temporary occupation permit) in December last year, Reflections at Keppel Bay has a total of 136 apartments left unsold out of its 1,129 luxury units. Among the unsold units, 25 remain unlaunched by the developer and comprise premium units such as the development's only 13,300-square-foot super- penthouse. Prices for the remaining units have an average asking price of about $2,400 to $2,500 per square foot (psf), though some premium units may go as high as $3,200 psf. This is in contrast to an average of $2,000 psf when the development was first launched. The property group has also set aside a total of 154 units as corporate residences to tap into the strong demand for the lease of such homes. Comprising configurations that range from two-bedders to four-bedders, leasing for the corporate units have commenced with average rents averaging $8,000 to $9,000 per month. On future launches in the Keppel Bay area, the property group indicated at a press conference yesterday that it will be focusing on selling off the remaining units at Reflections at Keppel Bay before delving into their next launch. Having said that, plans for the plot 3 development have already begun with the new project envisioned to be a premium waterfront property comprising 367 home units to be located along the historic King's Dock. Owning a total of six plots in Keppel Bay, Keppel Land will be partnering master architect Daniel Libeskind once again for the development of its third Keppel Bay plot. When all the plots are fully developed, Keppel Bay will have a total of 2,600 waterfront homes. Link to post Share on other sites More sharing options...
Scb11980 1st Gear March 23, 2012 Author Share March 23, 2012 Business Times - 23 Mar 2012 Foreigners still keen on waterfront homes By MICHELLE TAN HALF of the units sold at Reflections at Keppel Bay in recent months were scooped up by foreigners, suggesting foreign demand for local luxury homes has not totally abated. Keppel Land sold a total of six units (at an average price of $2,100 per square foot) at the luxury waterfront development over the past two- and-a-half months, out of which three units were bought by foreigners. 'There is still a worldwide trend for waterfront living,' said Augustine Tan, president (Singapore residential) of Keppel Land who remains bullish on the outlook for waterfront homes. To add to the draw, all homeowners of Keppel Bay are also given a complimentary 10-year membership and five-year membership subscription at the Marina. Obtaining its TOP (temporary occupation permit) in December last year, Reflections at Keppel Bay has a total of 136 apartments left unsold out of its 1,129 luxury units. Among the unsold units, 25 remain unlaunched by the developer and comprise premium units such as the development's only 13,300-square-foot super- penthouse. Prices for the remaining units have an average asking price of about $2,400 to $2,500 per square foot (psf), though some premium units may go as high as $3,200 psf. This is in contrast to an average of $2,000 psf when the development was first launched. The property group has also set aside a total of 154 units as corporate residences to tap into the strong demand for the lease of such homes. Comprising configurations that range from two-bedders to four-bedders, leasing for the corporate units have commenced with average rents averaging $8,000 to $9,000 per month. On future launches in the Keppel Bay area, the property group indicated at a press conference yesterday that it will be focusing on selling off the remaining units at Reflections at Keppel Bay before delving into their next launch. Having said that, plans for the plot 3 development have already begun with the new project envisioned to be a premium waterfront property comprising 367 home units to be located along the historic King's Dock. Owning a total of six plots in Keppel Bay, Keppel Land will be partnering master architect Daniel Libeskind once again for the development of its third Keppel Bay plot. When all the plots are fully developed, Keppel Bay will have a total of 2,600 waterfront homes. Link to post Share on other sites More sharing options...
Scb11980 1st Gear March 23, 2012 Author Share March 23, 2012 Business Times - 23 Mar 2012 Affluent S'poreans upbeat on growing their wealth More than 60% of Asians see wealth creation prospects improving: survey By AMANDA EBER A STANDARD Chartered survey has found that affluent Singaporeans are optimistic about growing their wealth in Asia, despite a dip in overall wealth confidence due to global economic uncertainty. Some 300 Singaporeans with average annual incomes of US$126,000 were interviewed for Standard Chartered's FuturePriority Report 2012, joining more than 2,700 similarly affluent respondents from across Asia. Affluent Singaporeans' wealth confidence dropped from 76 per cent in 2011 to 70 per cent in 2012. However, respondents still maintain a bullish attitude, with 61 per cent of affluent Asians expecting wealth creation prospects in the region to improve over the next 12 months. This positive sentiment is not confined to Asia alone. One third of respondents see opportunities for wealth creation in Europe and North America in the next 12 months. Respondents also expect improved prospects in the long term across all regions, including Latin America, Africa and the Middle East over the next five years. However, Singaporeans still err on the side of caution when it comes to investment strategy. Some 37 per cent express a preference for 'simple and safe' banking and investment products, while 32 per cent believe in 'buying low and holding investments.' Only 12 per cent are comfortable with 'more complex investment products,' as compared to 14 per cent for Asia. Affluent Singaporeans are also less aggressive about growing their money as compared to their Asian counterparts. Singaporeans aim to grow their current average wealth of US$1.2 million to US$3.6 million over the next 10 years. This is equivalent to a 10 per cent annual return, while Asians demand mean annual returns of 12 per cent. This difference in attitude is mirrored in the survey's findings on areas the average affluent person spends the most energy on. Singaporeans prize their health over goal-oriented progress, in direct contrast to the rest of Asia. Said Foo Mee Har, global head of priority and international banking at Standard Chartered Bank: 'The Asian affluent are clearly wealthier and more sophisticated than before.' As a result, their expectations of financial services have risen as well. Respondents highlighted the ability of financial institutions to meet 'a wide range of needs' as their highest priority when choosing a bank. Affluent Singaporeans also expect to receive 'financial education and advice' from their financial providers. 'Customers, not banks, are driving the agenda in Asia,' said Ms Foo. 'Therefore, to succeed in this important client segment, banks need to focus more on their service and quality of their advisory processes, rather than on the products they sell.' Link to post Share on other sites More sharing options...
Scb11980 1st Gear March 23, 2012 Author Share March 23, 2012 $140m Canadian International School opens in Jurong West 23 March 2012 SINGAPORE - The Government will be releasing more land parcels for international schools to use, reported The Straits Times. Second Minister for Trade and Industry S. Iswaran who was speaking at the opening of the $140 million Canadian International School (CIS) in Jurong West said that the leasing out of the land to international schools will encourage them to have a long-term view of their presence here. It will also help Singapore to continue to attract foreigners to live and work here. CIS founder and chief executive, Thomas Tang, said that he had initially thought of opening an international school in Hong Kong. However, a lack of land space had him settle on Singapore because the Government was helpful. CIS campus in Jurong West features a 10,000 sq ft library, a FIFA recommended football pitch, 500-seat auditorium complete with an orchestra pit, seven interconnected science labs and an eco-garden where students can learn about their environment and ecological sustainability and exploration. The school also houses all students from primary to high school, in various clusters around the 462,848 sq ft campus. The school currently has an enrollment of about 1,800. It plans to meet its maximum capacity of 3,300 students in three to five years time Link to post Share on other sites More sharing options...
KARTer 2nd Gear March 23, 2012 Share March 23, 2012 will they make COE hit $200k? (highest so far about $110k, back in 94-5?) Link to post Share on other sites More sharing options...
SimonTan 2nd Gear March 23, 2012 Share March 23, 2012 For every enblock owner...I think they will buy two new properties with their money...there by creating a demand. Many may also buy expensive cars to enjoy. Yes..COE will keep on increasing in Singapore. When will it ever stop? No one knows and no want want to worry about it. Link to post Share on other sites More sharing options...
Unidentified 1st Gear March 23, 2012 Share March 23, 2012 what's with this ponzi scheme?money rolling over and over and make it look like property is still hot whereby other big players developer already start resting their barrel while small guns player like this still come up with "higher than usual" biddings. lets see how long this developer grp can last. Link to post Share on other sites More sharing options...
Kyrios Turbocharged March 23, 2012 Share March 23, 2012 What? So Fook Me Hard holding 2 highly paid jobs now? Link to post Share on other sites More sharing options...
Unidentified 1st Gear March 23, 2012 Share March 23, 2012 For every enblock owner...I think they will buy two new properties with their money...there by creating a demand. Many may also buy expensive cars to enjoy. Yes..COE will keep on increasing in Singapore. When will it ever stop? No one knows and no want want to worry about it. dont worry,this ponzi scheme of "rob harry to pay joe" will not last forever.you heard about hyips?same logic.once the top fellow drop,the rest will all die very ugly. Link to post Share on other sites More sharing options...
Mecontle 1st Gear March 23, 2012 Share March 23, 2012 this is tough to read all 4 , do u hv a sentence to sum it up? Link to post Share on other sites More sharing options...
Scb11980 1st Gear March 23, 2012 Author Share March 23, 2012 this is tough to read all 4 , do u hv a sentence to sum it up? YES SUMMARY READ ALL 4 Link to post Share on other sites More sharing options...
Throttle2 Supersonic March 23, 2012 Share March 23, 2012 Summary, if you earn anything below $20k per month, you are FU$CKED...... Link to post Share on other sites More sharing options...
Maz0608 3rd Gear March 23, 2012 Share March 23, 2012 Summary, if you earn anything below $20k per month, you are FU$CKED...... You tokking about me? Yah I know... Link to post Share on other sites More sharing options...
Throttle2 Supersonic March 23, 2012 Share March 23, 2012 You tokking about me? Yah I know... Not particularly, i talking in general Link to post Share on other sites More sharing options...
Scb11980 1st Gear March 23, 2012 Author Share March 23, 2012 Summary, if you earn anything below $20k per month, you are FU$CKED...... s c r e w ed I have zero active income now i am under your definition more than just s c r e w e d Link to post Share on other sites More sharing options...
Mllcg 3rd Gear March 23, 2012 Share March 23, 2012 with this money, i will buy 1 HDB to stay. 1 condo to rent out. remainder to buy a new car. Link to post Share on other sites More sharing options...
Happily1986 5th Gear March 23, 2012 Share March 23, 2012 Summary, if you earn anything below $20k per month, you are FU$CKED...... then how? you earn only 3k pm. ↡ Advertisement Link to post Share on other sites More sharing options...
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