Daily Archives: 28 Aug 2009

Initial phase of Trevista condo going at $898 psf on average

Posted on 28 Aug 2009 | Comments Off on Initial phase of Trevista condo going at $898 psf on average

NTUC Choice Homes Co-operative is pricing the initial phase of its Trevista condo at Toa Payoh, which previews today, at an average price of $898 per square foot. This is about 20 per cent lower than Far East Organization’s Centro Residences next to Ang Mo Kio Hub, priced at $1,150 psf on average and released last month.

However, as Trevista’s units are generally larger than Centro’s, the price differential in absolute terms may be less.

Far East has sold only about 100 units – an outcome some market watchers see as due to price resistance.

Both projects are on 99-year leasehold.

Trevista is near Braddell MRT Station and within walking distance of shopping and other amenities at HDB Hub and Toa Payoh Central. Centro, a 34-storey project with 329 units, is right next to Ang Mo Kio Hub and opposite Ang Mo Kio MRT Station. Continue reading →

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Guocoland reports loss of S$70.2m on revaluation loss on property, write-downs

Posted on 28 Aug 2009 | Comments Off on Guocoland reports loss of S$70.2m on revaluation loss on property, write-downs

Mainboard-listed developer Guocoland has posted a full year net loss of S$70.2 million, reversing a S$161.8 million net profit in the previous financial year.

The net loss was mainly due to a revaluation loss of S$81million on its Tung Centre property, write-downs in values of development properties in Malaysia and foreign exchange losses.

Revenue for the financial year ended June fell 24 per cent to S$513 million, mainly because of lower contribution from development properties in Singapore and China.

Guocoland believes that property values in Singapore and China have improved in recent months.

It said buying sentiment continues to be strong in Singapore, especially in the mass market and mid-end segments.

The developer will be launching a freehold condominium project at the East Coast later this year.

Source : Channel NewsAsia – 27 Aug 2009

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