Tag Archives: Temasek Holdings

High-end projects to launch soon

While suburban condos have been fuelling sales in recent weeks, upmarket condos are expected to take the limelight with the upcoming launch of a handful of such projects, said media reports.

Among them are Wing Tai’s The Crest located near Jervois Road and Keppel Land’s The Highline Residences in Kim Tiam Road.

Keppel Land’s 99-year leasehold condo project is expected to have 500 units, with prices will likely range between $1,700 psf and $1,900 psf. The development targets professionals and expatriates, given its location in Tiong Bahru.

Also expected to go on sale are mixed development City Gate in Beach Road, which is jointly developed by World Class Land and Fragrance Group, and the 3.67 million sq ft Marina One jointly developed by Temasek Holdings and Khazanah Nasional.

Alice Tan, Research Head at Knight Frank, expects most condos to launch after the school holidays, perhaps in the middle of July.

City Gate is expected to launch sooner as it may hold a preview by end-June with a release next month.

CBRE’s Research Head Desmond Sim noted that buyers should not expect other developers to do the same as they would not want to “cannibalise” each other.

He added, “Some projects are prepared to launch… but there is no point in challenging for the same slice of the demand pie.”

URA grants provisional permission to several projects

The Urban Redevelopment Authority (URA) awarded provisional permission (PP) to several large projects in the second quarter, including two mega developments by M+S Pte Ltd, a tie-up between Temasek Holdings and Malaysia’s Khazanah Nasional.

In April, M+S received PP for a mixed development at Ophir/Rochor Roads, which will include 350 hotel rooms, 670 apartments, 4,650 sq m of retail space and 64,010 sq m of offices.

The consortium also received PP for its Marina One mega project at Marina Way/Straits View in May. The project comprises 1,006 apartments, 208,310 sq m of office space and 12,030 sq m of retail amenities.

A group led by GuocoLand also secured URA’s provisional approval for a mixed development located above Tanjong Pagar MRT station, which will feature offices, shops, apartments and hotel rooms.

Moreover, the URA awarded provisional approval to Seletar Mall Pte Ltd to build 17,840 sq m of shopping space at Sengkang West Avenue/Fernvale Road as well as PLC 8 Development to develop shopping facilities and multiple-user factory space at Lavender Street.

Sim Lian also secured PP for a retail-residential development at Jelebu/Petir Roads. Meanwhile, JTC Corporation and LTH Logistics Singapore have been awarded provisional permission for CleanTech Two and a warehouse development at Banyan Drive respectively.

ECO at Bedok South Avenue 3 by Far East Organization, Frasers Centrepoint and Sekisui House likewise clinched PP, along with Hoi Hup group for a project at Kovan/Simon Roads and SP Setia International for a condo development along Chestnut Avenue.

Mount V Development, a partnership between City Developments, Hong Leong Holdings and TID also earned PP for a condo project at Mount Vernon Road.

Source PropertyGuru – 2012 Jul 30