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Subscribe to this list via RSS Blog posts tagged in Keppel Land

Posted by on in Uncategorized
A number of property developers seem to have fallen off the radar, with hardly any land bids or new projects in recent years.

Some are longstanding market players but rising land prices and market cycles have led to fewer land acquisitions and projects. Other developers were dragged under by the financial crisis.
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A remarkable stillness has settled over the private property market in the hip Tiong Bahru district in the past few months.

Resale deals there have slowed to a trickle as most buyers eyeing the area wait with bated breath for the upcoming launch of a new condominium project in Kim Tian Road.
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A 560-ROOM hotel in Jurong Town Hall Road by Resorts World Singapore, an office and retail development in Jurong East by Sim Lian, and a revised development proposal by Keppel Land for its Keppel Towers and GE Tower site in Hoe Chiang Road are among a string of development proposals granted provisional permission by the Urban Redevelopment Authority in the third quarter.

Less than a handful of private residential projects received provisional permission in the July-Sept 2013 period.
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Developers are giving home-seekers a lot more leeway when it comes to choosing a unit following the tough lending rules that came in at the end of June.

As well as lengthening the preview periods for new launches so people have more time to decide and get their finances sorted out, some projects let some buyers reserve a unit without having to deposit a cheque.
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This weekend's upcoming projects will be one test of market sentiment since the Monetary Authority of Singapore (MAS) announced restrictions on mortgages late last month.

One project being launched today is the 99-year leasehold Vue 8 Residence condominium in Pasir Ris Drive 3 that is marketing its sea views.
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Buyers made a beeline for recently launched mass-market projects over the weekend.

The new projects high on the shopping list included Stratum in Pasir Ris, Whitehaven in Pasir Panjang and Corals at Keppel Bay, which were all launched or previewed last week.
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At least 50 units may have been sold at Corals at Keppel Bay yesterday, the first day of the project's preview. The developer has released about 100 of the condo's 366 units for the preview. Buyers are believed to be mostly Singaporeans.

Prices reportedly range from $1,800 psf to $3,000 psf. The development will have 11 blocks of between five and 10 storeys.
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Posted by on in Uncategorized
A spate of new developments in Tanah Merah has turned the area into a popular hunting ground for buyers. There have been three new projects in the past years, with developers focusing on the site surrounding the MRT station.

Tanah Merah's housing stock received a major boost in 2009 when Casa Merah, a 556-unit condominium jointly developed by NTUC Choice Homes and Wing Tai Holdings, was completed.
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Posted by on in Uncategorized
The move to abolish the tax vacancy refund will put more pressure on individuals and companies, particularly those with high-end residential asset portfolios.

This, combined with progressive tax rates which will see the government raising property tax rates for high-end residential homes with the largest increases applying to investment properties, means that high-end developers could potentially be hit with a double whammy.
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A wheelock Properties (Singapore) unit, Pinehill Investments, has put in the highest bid of $789.89 per square foot per plot ratio (psf ppr) for a private residential site at Ang Mo Kio Avenue 2.

Demand was strong for the 99-year leasehold site with 12 bids put in, which included some big name developers.

"We see great potential in this choice site being next to St Nicholas Girls' School and the future Mayflower MRT station," said Tan Bee Kim, senior executive director at Wheelock Properties (Singapore).
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