Tag Archives: Sentosa Property

Resale prices of Caribbean at Keppel bay cross $1,100 psf

Posted on 11 Aug 2009 | Comments Off on Resale prices of Caribbean at Keppel bay cross $1,100 psf

With the opening of the $6 billion Resorts World at Sentosa fast approaching, there is a buzz of excitement as investors anticipate the influx of visitors expected in 1Q2010. To cater for a surge in tourists and locals to the island, a 620m $70 million walkway is being constructed and is expected to be completed in November 2010.

As development at the upcoming casino gain traction, interest in properties on the mainland of Singapore and Sentosa Cove have picked up in recent months.

For instance, at the 969-unit Caribbean at Keppel Bay, developed by Keppel Land and completed in 2004, there were three transactions in the week of July 3 to 10, according to caveats lodged with URA Realis. A check against the monthly number of transactions shows there was an average of five units changing hands from April to June this year versus only two from January to March.

According to property agents, buying activity has picked up and there is more interest from foreigners. However, transaction levels remain low, owing to higher quantum prices and the gap in asking prices ranging from $1,300 to $1,400 psf versus buyers’ expectations of $1,000 Continue reading →

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Posted in Property Market / Real Estate, Property Price, Sentosa Property

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He helps Sentosa boom

Posted on 9 Aug 2009 | Comments Off on He helps Sentosa boom

AS THE chief executive officer of Far East Organization, Mr Philip Ng manages a real estate empire that encompasses apartments, offices and shopping malls in Singapore and Malaysia.

So it is little wonder that he is being recognised for making a man-made island south of Singapore a piece of choice real estate.

Mr Ng, 51, was chairman of the Sentosa Development Corporation from March 2001 to February 2007. Under his six-year stewardship, Sentosa saw a rise in visitors and investments.

Notably, the sale of 99-year leasehold bungalow land parcels at Sentosa Cove drew prices that surpassed those of freehold good class bungalow sites in prime districts on mainland Singapore at the time.

On being conferred the Meritorious Service Medal this year, he said: ‘It is an honour to serve my country and to be able to contribute in some aspects of Singapore’s development.’

He took over the reins at Far East from his father Ng Teng Fong, who is Singapore’s richest man, in the 1990s. The privately held group built some of the most enduring malls on Orchard Road, including Far East Plaza and Lucky Plaza, and its most recent developments include Orchard Central.

Mr Ng is a director of Sino Group, Far East Organization’s sister company. He is also the executive chairman of Orchard Parade Holdings, and chairman of Yeo Hiap Seng.

Source : Straites Times – 9 August 2009

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Posted in Property Market / Real Estate, Sentosa Property

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