Tag Archives: URA

URA grants provisional permission to several projects

Posted on 31 Jul 2012 | Comments Off on 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

 

 

 

Comments Off on URA grants provisional permission to several projects

Posted in Property Market / Real Estate

Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Landed homes continue to shine

Posted on 31 Jul 2012 | Comments Off on Landed homes continue to shine

Landed home prices grew 0.4 percent according to the Urban Redevelopment Authority (URA) Index, indicating that demand for such homes remains healthy.

Terraced homes saw the biggest price rise at 1.2 percent, followed by semi-detached houses at 0.6 percent, while detached residences fell by 0.4 percent.

Several consultants noted that landed property prices have significantly exceeded those of non-landed private homes since Q3 2010.

Prices of landed homes have doubled in the last seven years, said Png Poh Soon, Research Head at Knight Frank. They are also considered to be better investments “given the limited supply of landed properties in land-scarce Singapore with a growing population, rising affluence of local families and influx of new wealthy citizens”.

For instance, 39 out of 50 landed homes released at Haus@Serangoon Garden were snapped up in just two weeks.

The two-storey houses with basement and attic, which were constructed by City Developments and Hong Realty, do not come cheap. An intermediate terraced home measuring 1,615 sq ft goes for at least S$2.4 million while a 2,284 sq ft corner terrace has a minimum price of S$2.8 million.

Png said prices of landed homes have “risen substantially” since Q2 2009 and increased by almost 80 percent during Q2 2012.

Terraced homes saw the biggest price hike of 84 percent since Q2 2009 while prices of semi-detached and detached houses rose 71 and 83 percent respectively.

“Demand for terraced homes has increased along with rising mass affluence of local buyers, who upgrade their homes for larger living spaces… and to capitalise on the current low favourable interest rates,” added Png.

 

 

 

Comments Off on Landed homes continue to shine

Posted in Property Market / Real Estate

Tagged , , , , , , , , ,