Daily Archives: 20 Aug 2009

Bids pour in for Bukit Panjang condo site

Posted on 20 Aug 2009 | Comments Off on Bids pour in for Bukit Panjang condo site

THE fast-improving property market has prompted 13 developers to submit bids to buy a 99-year leasehold suburban land parcel in Bukit Panjang.

The top bid for the Chestnut Avenue condominium plot came in higher than expected at $143.68 million or $280 per sq ft (psf) of gross floor area. This was 132 per cent above the minimum acceptable bid of $120 psf of gross floor area.

The bid came from a joint venture between City Developments’ Sunny Vista Developments and Hong Leong Group’s Hong Realty. The 22,700 sq m of land can accommodate about 450 flats.

Some of the other top bids are: Sim Lian Land with a bid of $113 million and First Changi Development, a GuocoLand subsidiary, with a bid of $93.38 million. Continue reading →

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Posted in Developers, En-bloc / Collective Sales

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Marina IR secures tenants for 75% of its retail space

Posted on 20 Aug 2009 | Comments Off on Marina IR secures tenants for 75% of its retail space

MARINA Bay Sands said it had secured tenants for three-quarters of its retail space, including French luxury brand Chanel, which will open its largest boutique in Singapore.

The integrated resort is expected to have about 300 stores for the well-heeled shopper in more than 800,000 sq ft of retail and restaurant space.

But only half of the retail space will open with the resort early next year along with the casino, 1,000 hotel rooms and most of the convention centre.

Marina Bay Sands said it is confident of its success as a ‘compelling shopping destination’.

‘We have enjoyed enthusiastic responses from retail tenants from all over the world,’ said Mr David Sylvester, vice-president of Asia retail at Continue reading →

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Posted in Office / Retail / Industrial

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