Mortgage , Property News , Real Estate

JLL promotes Sandeep Sethi to Asia Pacific division president for work dynamics

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Sandeep Sethi has been appointed as division president of JLL’s work dynamics in Asia Pacific. This business unit provides services across the full real estate life cycle for occupiers, including integrated facilities management, construction management services, sustainability and workplace consulting, workplace experience, and lease transaction management. This role expands his current portfolio of managing director and head of work dynamics for West Asia.

With over two decades of diverse experience in the corporate sector, Sethi brings 10 years of expertise from JLL to the table. Under his radar, JLL had become the largest occupier business in West Asia, managing more than 160 million sq ft of office space across 1,500 client sites in India, Sri Lanka, Mauritius, and Bangladesh.

In his new role, Sethi is responsible for JLL’s North Asia market, overseeing all services that are delivered to the clients. He is additionally responsible for growing JLL’s North Asia marketshare, …

Mortgage , Property News , Real Estate

Shipyard at Benoi Road for sale at $11.3 mil

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A plot of land boasting a size of over 500,000 sq ft with waterfront access located at the junction of Benoi Road and Pioneer Road within the Jurong Industrial Estate has been launched for sale via an expression of interest (EOI) exercise at a guide price of $11.3 million.

Various structures already situated on the property include a two-storey office block with a single-storey annexe office, three blocks of single-storey workshop, a mould loft building, a fabrication workshop, and a wharf. It is suitable for shipbuilding, ship or vessel repair and maintenance.

The property located around 24km from the City Centre is easily accessible with the Ayer Rajah Expressway and Pan-Island Expressway in the vicinity, as well as the Joo Koon MRT Station, which is a five-minute drive away.

Isabel It, associate division director of Huttons Asia, states that the plot is regular in shape and has a corner frontage …

Mortgage , Property News , Real Estate

GuocoLand sole bidder for Lentor Gardens GLS site at $985 psf ppr

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GuocoLand’s Lentor Modern sold 84% of units on launch weekendLentor Gardens GLS site drew just one bid from GuocoLand and Intrepid Investments for a land rate of $985 psf pprThe tender for the residential government land sale (GLS) site at Lentor Gardens concluded today with just one bid from GuocoLand and Intrepid Investments (a subsidiary of Hong Leong Group). The joint venture partners submitted a bid of $486.8 million, which translates to a land rate of $985 psf plot ratio (psf ppr).

GuocoLand spokesperson has stated that they are envisioning the development of a high-end residential development at this site with 533 units and 600 sqm of childcare facilities. The development is expected to add to the area of Lentor Hills transforming it into a known premium residential area.

The current bid of $958 psf ppr is the lowest for a Lentor land parcel as stated by Mark Yip, CEO …

Mortgage , Property News , Real Estate

The Myst CDL Aries New Condo at Upper Bukit Timah Road Tan Chong Industrial

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The Myst Condo a residential development situated right in the middle of Bukit Panjang and Cashew by City Developments Limited, has been acquired by CDL Aries, the Singaporean city-state’s largest non-government-controlled developer. The Myst CDL is situated on two plots at 798 and 800 Upper Bukit Timah Road in Tan Chong industrial park of northwest Singapore, covering 16,620 square metres (178,900 square feet). It is zoned for residential use with a plot ratio of 2.1, and the developer has been granted permission to build a 24-storey project on the prime plot.

In recent years, the city-state has taken steps to invigorate Bukit Timah by introducing a variety of development proposals to bolster commuting options and add more green areas to the area. These initiatives involve the Railway Corridor project near to The Myst Condo with the objective of converting pre-existing railway tracks into a recreation facility. Additionally, the city-state has …

Mortgage , Property News , Real Estate

Singapore office rents see subdued growth in 1Q2023: JLL

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Grade A office rents in the CBD saw an increase in the 1Q2023, with the gross effective rent for office spaces hitting an average of $11.30 psf per month, according to real estate consultancy, JLL. However, this 1.0% q-o-q growth was overshadowed by the 1.2% q-o-q growth seen in the previous quarter, marking the first slow-down of growth in five consecutive quarters.

Andrew Tangye, JLL Singapore’s head of office leasing and advisory, attributed this easing rental growth to the macroeconomic uncertainties that hindered the demand for office space. He noted that large space users decided to put expansionary and relocation plans on the back burner.

“Leasing activity in 1Q2023 was driven mainly by small-to-medium-sized space occupiers with immediate requirements such as new market entrants and those looking to accommodate new workplace design or increased hirings that took place in 2022,” Tangye points out.

Examples of such occupiers include Munich Re, …

Mortgage , Property News , Real Estate

Discovering Bukit Panjang An Overview of Singapore’s Vibrant Town and its Integrated Transport Hub

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Bukit Panjang is a suburban town located in the western part of Singapore. It is known for its scenic views, lush greenery, and a wide range of amenities, including shopping malls, educational institutions, and recreational facilities. In recent years, Bukit Panjang has also become home to Singapore’s newest integrated transport hub. In this article, we’ll take a closer look at Bukit Panjang, its history, attractions, and the Bukit Panjang Integrated Transport Hub.

History:

Bukit Panjang, which means “long hill” in Malay, was named after the long undulating hills in the area. The town was first developed in the 1980s and 1990s and has since grown to become a vibrant and thriving community.

Attractions:

Bukit Panjang is known for its scenic views and lush greenery. One of the most popular attractions in the area is the Bukit Timah Nature Reserve, which is home to a variety of flora and fauna, including …

Mortgage , Property News , Real Estate

A Comprehensive Guide to CDL Real Estate Developer Projects, Philosophy, and Achievements

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CDL Real Estate Developer is one of the largest and most reputable property development companies in Singapore. Established in 1963, CDL has played a significant role in shaping the city-state’s urban landscape and has a proven track record of delivering high-quality and sustainable developments. In this article, we’ll take a closer look at CDL Real Estate Developer, its philosophy, projects, and achievements.

Philosophy:

CDL’s philosophy is centered on the belief that real estate development should be sustainable, environmentally responsible, and contribute to the well-being of the community. This philosophy is reflected in the company’s commitment to green and smart building technologies, as well as its focus on social responsibility and community development.

One of CDL’s most notable initiatives in this regard is its “CDL Future Value 2030” sustainability blueprint. Launched in 2017, this initiative aims to make CDL a leader in sustainable development by 2030. The blueprint outlines a range …

Mortgage , Property News , Real Estate

Qingjian Realty Real Estate Developer A Leading Name in the Singapore Property Market

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Qingjian Realty is a well-known real estate developer that has established its reputation as a leading name in the Singapore property market. The company is known for developing high-quality, innovative, and sustainable residential and commercial properties that cater to the needs of modern urban living.

Founded in 1952 in China, Qingjian Group is a diversified conglomerate that operates in various industries, including construction, real estate, logistics, and technology. Qingjian Realty is the real estate development arm of the group, and it has been actively involved in the Singapore property market since 2008.

Over the years, Qingjian Realty has developed an impressive portfolio of projects, ranging from executive condominiums to luxury apartments, landed homes, and mixed-use developments. The company has a strong focus on innovation, and it is known for incorporating advanced technology and sustainable features in its projects.

One of Qingjian Realty’s notable projects is the Waterbay Executive Condominium, located …

Mortgage , Property News , Real Estate

Six-storey Boat Quay shophouse sold for $37 mil

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, SingaporeAn exceptional opportunity to acquire a modern and well-equipped commercial space located in the heart of Singapore’s CBD emerged with the sale of a six-storey shophouse in Boat Quay. Brokered by Savills Singapore, the property sold for a total of $37 million, resulting in a $16 million gain for the seller.Occupying a 1,119 sq ft site with an estimated total built-up area of 6,446 sq ft, the shophouse underwent extensive renovations in 2015. Currently, the top two floors are occupied by the Italian restaurant Braci, while an Izakaya bar occupies the ground floor and corporate office tenants on the second and fourth floors.

The sale of this Boat Quay shophouse was proof of a consistent demand for high-quality commercial properties in prime locations. The rarity of a riverfront-facing property being available for sale made is a desirable opportunity for investors. Yap Hui Yee, Executive Director of Investment Sales and …