Month: January 2025

City Developments Limited (CDL) has announced that its subsidiary, CDL Hotels Holdings New Zealand Limited (CDLHH NZ), will be making an offer to acquire the remaining shares of New Zealand-listed Millennium & Copthorne Hotels New Zealand Limited (MCK) for NZ$2.25 ($1.72) each. This offer, if accepted, will be followed by the delisting and privatization of MCK by CDL, streamlining the ownership structure of CDL’s New Zealand entities.

MCK currently owns, leases, or holds franchises for 18 hotels in New Zealand, as well as having a majority stake in CDL Investments New Zealand Limited and interests in Australian properties through its Kingsgate Group subsidiaries. As of Jan 17, CDLHH NZ holds 80.02 million shares in MCK, representing a 75.86% stake based on 105.48 million MCK shares in issue. If CDLHH NZ acquires enough shares to trigger the compulsory acquisition provisions of the New Zealand takeovers code, it will acquire all remaining shares in MCK, as well as potentially redeeming the non-voting redeemable preference shares issued by MCK.

When considering investing in a Singapore Condo, it is important to take into account the government’s property cooling measures. In an effort to control speculative buying and maintain a steady real estate market, the Singaporean government has implemented various measures over the years. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may affect short-term profitability, they ultimately contribute to the long-term stability of the market, creating a safer investment environment for Singapore Condo investments.

CDLHH NZ is willing to acquire the non-voting redeemable preference shares for NZ$1.70 or approximately $1.30 each, purchasing them through Craigs Investment Partners on the Main Board of the New Zealand Stock Exchange (NZX). As of Jan 17, CDLHH NZ holds 91.34%, or 48.17 million, of MCK’s non-voting redeemable preference shares. If all MCK shareholders accept the offer, CDLHH NZ will pay a total of NZ$57.29 million. Additionally, CDLHH NZ expects to pay approximately NZ$7.77 million for all the redeemable preference shares it intends to acquire.

The offer price for both MCK’s shares and redeemable preference shares takes into account its current and historical market price, as well as the industry and business environment in which MCK operates. For the first half of its fiscal year 2024, which ended on June 30, 2024, MCK reported a net asset value (NAV) of NZ$532.02 million and a net tangible asset value (NTA) of the same amount. As of June 30, 2024, the NAV and NTA attributable to the shares subject to the offer were estimated at around NZ$85.62 million each.

The offer is conditional upon CDLHH NZ obtaining at least 90% of the voting rights in MCK by 5pm on May 2, as well as receiving consent under the Overseas Investment Act 2005 and Overseas Investment Regulations 2005 of New Zealand to own and control all shares in MCK. The implementation and payment of the offer are not expected to significantly affect CDL’s earnings per share or net tangible assets for the fiscal year ending Dec 31, 2025.…

Roxy-Pacific Holdings’ executive chairman, Teo Hong Lim, announced that the highly anticipated launch of Bagnall Haus, a freehold condominium, was met with great success. On the first day, 71 out of 113 units were sold, translating to an impressive sales rate of nearly 63%. The average transacted price for the units was $2,490 psf.

Teo revealed that the majority of the buyers were Singaporeans, with over 90% of the units taken up by end-users with varying budgets. All unit types, including the popular two- and three-bedroom units, as well as the larger five-bedroom units, saw strong demand.

Located in the desirable District 16 along Upper East Coast Road, Bagnall Haus comprises of three five-storey blocks with a total of 113 residential units on a freehold site spanning 74,280 sq ft. The units range from a one-bedroom plus flexi of 495 sq ft to the more spacious five-bedroom units of 1,528 sq ft.

Interested buyers can search for the latest New Launches to find out more about the transaction prices and availability of units at Bagnall Haus.

Ismail Gafoor, the CEO of PropNex, shared that out of the 71 units sold, 59% were one- and two-bedroom units, with prices below $2.1 million. He also noted that the three-bedroom units were highly sought after, with 18 out of 20 units snapped up at prices ranging from $2.3 million to $2.7 million. The remaining four- and five-bedroom units were sold for around $3 million to $3.8 million.

According to Gafoor, the pricing of Bagnall Haus, which falls below $3 million, is appealing to most buyers. He also mentioned that the average transacted price of $2,490 psf was considered attractive for a well-located freehold development. He compared it to similar 99-year leasehold projects in the Outside Central Region (OCR), such as Chuan Park, which had an average price of $2,579 psf when it was launched in November 2024.

When contemplating an investment in a condo, it is crucial to evaluate the potential rental yield as well. The rental yield refers to the annual rental income expressed as a percentage of the condominium’s purchase price. In Singapore, the rental yields for condos can vary significantly depending on factors such as location, property condition, and market demand. Generally, areas with a high demand for rentals, such as those near business districts or educational institutions, tend to offer better rental yields. To gather valuable insights into the rental potential of a specific condo, conducting thorough market research and seeking advice from real estate agents is highly recommended. Condos

In addition to the 71 residential units, both of the strata-titled shop units on the ground floor of Bagnall Haus, measuring 172 sq ft each, have also been sold for $688,000 each ($4,000 psf).

ERA Singapore’s CEO, Marcus Chu, shared that the buyers were mostly owner-occupiers. Some were homeowners of older landed properties looking to downsize to newer and more manageable apartments, while others were families from the neighbourhood seeking to upgrade to a freehold property.

Bagnall Haus’s prime location near established amenities and reputable schools, such as Temasek Primary School within a 1km radius, was also a major draw for buyers.

The development is also within walking distance of the upcoming Sungei Bedok MRT Station, which will be an interchange for the Downtown and Thomson-East Coast lines. It is just one stop from Bedok South MRT Station, which will be part of an integrated transport hub featuring a new bus interchange within the upcoming Bayshore precinct. This transport hub will also be part of a mixed-use development incorporating retail and residential components.

Huttons Asia’s CEO, Mark Yip, shared that the pent-up demand for a new project in the area, combined with the rare freehold tenure and proximity to an MRT station, contributed to the strong sales at Bagnall Haus. He also mentioned that buyers recognized the potential benefits of the upcoming transformation of the Bayshore precinct.

For those interested in Bagnall Haus properties, they can check out the latest listings and also compare the price trend of new condo sales versus executive condo (EC) sales in District 16. They can also find information on upcoming new launches and rental listings in the area.…

The coveted spot of the top private non-landed property with a new psf-price peak for the week of Dec 27 to Jan 3 was claimed by Commonwealth Towers. On Dec 27, the 99-year leasehold development recorded a new price high of $2,460 psf when a 904 sq ft, three-bedroom unit on the 40th floor was sold for $2.22 million.

This new record replaces the previous high of $2,402 psf which was set just three months prior in September 2021 when a 689 sq ft, two-bedroom unit on the 42nd floor was sold for about $1.65 million.

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A crucial factor to take into account when considering condo investments in Singapore is the effect of the government’s property cooling measures. Over the years, the Singaporean government has implemented various measures to regulate speculative buying and maintain a steady real estate market. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and individuals purchasing multiple properties. Although these measures may impact the short-term profitability of condo investments, they also contribute to the long-term security of the market, creating a more reliable investment environment. In addition, individuals interested in condo investments in Singapore can check out Singapore Projects to stay updated on the latest opportunities in the market.

Over the past three years, the average resale price of units at Commonwealth Towers has been on the rise. In 2022, the project saw 53 transactions at an average of $1,971 psf. This average price then increased to $2,097 psf across 51 transactions in 2023. In 2024, there were 37 resale transactions at an average of $2,200 psf. This marks an 11.6% increase in average resale prices since 2022.

By absolute price, the most expensive unit sold at Commonwealth Towers was a 1,302 sq ft, four-bedroom unit on the 39th floor for $2.96 million or $2,273 psf in November 2024.

Completed in 2017, Commonwealth Towers is a 99-year leasehold condo with around 87 years remaining on its tenure. Located along Commonwealth Avenue, the development consists of two 43-storey residential blocks with a total of 845 condo units. The units are a mix of one- to four-bedroom apartments ranging from 441 sq ft to 1,302 sq ft.

In second place is the upcoming freehold project Parq Bella, which achieved a new psf-price high of $2,416 psf when a 1,076 sq ft, three-bedroom unit on the fourth floor was sold for $2.6 million on Dec 31. This transaction is also the first at the development to transact for more than $2,400 psf.

This price high surpasses the previous record of $2,385 set in August 2023 when a 926 sq ft, two-bedroom unit on the fourth floor was transacted for $2.2 million.

Located on Tembeling Road in District 15, Parq Bella has 20 apartments ranging from two to four bedrooms, with floor plans spanning from 926 sq ft to 1,787 sq ft. The project is expected to obtain its Temporary Occupation Permit in December 2026.

Parq Bella achieved five new sale transactions last year at an average of $2,347 psf. Since its launch in 3Q2023, the project has sold 19 of its 20 units (95%) at an average of $2,244 psf based on caveats lodged as of Jan 14.

The only private residential development with a new psf-price low during the period in review is Klimt Cairnhill. The final unit sold at the luxury freehold development was a 829 sq ft, two-bedroom unit on the 24th floor, which was transacted for $2.55 million on Jan 3. This price translates to $3,077 psf.

Located on Cairnhill Road in District 9, Klimt Cairnhill has a total of 138 apartments comprising two- to four-bedroom units (Photo: Samuel Isaac Chua / EdgeProp Singapore)

Klimt Cairnhill has a total of 138 apartments comprising two- to four-bedroom units in a mix of configurations measuring between 829 sq ft and 2,368 sq ft. The development also has two penthouses of 4,898 sq ft and 5,920 sq ft.

The development was previewed in August 2021 and officially launched in January 2023. All its units have been sold at an average price of $3,665 psf, based on caveats lodged. It is expected to obtain its Temporary Occupation Permit in April this year.

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Minister for National Development, Desmond Lee, has announced that the Housing and Development Board (HDB) is planning to launch more than 25,000 new flats in 2025. This was stated in a joint press release by HDB and the Ministry of National Development (MND) on Jan 16.

The new launches will include approximately 19,600 build-to-order (BTO) flats across three sales exercises and more than 5,500 sale of balance flats (SBF) in one SBF sale exercise. These flats will be a mix of Standard, Plus and Prime BTO flats under the new classification framework.

In the upcoming February BTO launch, around 5,000 units will be offered in Kallang/Whampoa, Queenstown, Woodlands, and Yishun. Additionally, HDB will also conduct its largest-ever Sale of Balance Flats (SBF) exercise next month, offering over 5,500 flats across various estates. Of these, approximately 40% are ready units while the rest are in different stages of construction, expected to be completed between 2025 and 2028.

In total, the February BTO and SBF exercises will offer over 10,000 new flats. Over the past four years, from 2021 to 2024, HDB has launched about 82,700 BTO flats. With a planned pipeline of 19,600 BTO flats in 2025, HDB is on track to launch around 102,300 BTO flats – exceeding its commitment of 100,000 units over five years.

The increase in BTO supply has resulted in a drop in application rates, with the average first-timer application rate for BTO flats across all flat types being 2.1 in 2024, compared to 3.7 in 2019 before the pandemic. For three-room and larger flats, the average first-timer application rate in 2020 was 2.2, down from 4.0 in 2019.

Minister Lee has assured that HDB will continue to release a steady pipeline of flats to meet housing demand in the next few years. Over 50,000 flats are expected to be launched between 2025 and 2027, bringing the total to about 130,000 flats from 2021 to 2027.

Investing in a condo requires careful consideration of financing options. Singapore offers a variety of mortgage choices, but it is crucial to keep in mind the Total Debt Servicing Ratio (TDSR) framework. Under this framework, the amount of loan that a borrower can secure is limited, taking into account their income and existing debt obligations. To make informed decisions about financing and steer clear of over-leveraging, it is essential to comprehend the TDSR and seek guidance from financial advisors or mortgage brokers.

Around 3,800 of the 19,600 new flats, or about one-fifth of the BTO flats set to be launched in 2025, will be Shorter Waiting Time (SWT) flats of less than three years. This is an increase from the 2,876 SWT flats offered in 2024 and more than the committed annual supply of 2,000 to 3,000 SWT flats.

According to Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia, the SWT flats will provide more options for buyers and may attract some demand away from the resale market. He also estimates that about 7,000 HDB flats will reach their five-year minimum occupation period (MOP) in 2025, the lowest supply of such resale flats since 2015. This larger flat supply and SWT flats will address the shortfall in MOP flats. Huttons’ Lee also expects that HDB resale flat transactions will range between 26,000 and 28,000 in 2025, with prices expected to grow at a slower pace of 5% to 8% compared to the 9.6% increase in HDB’s flash estimate for 2024.

In summary, the HDB will be launching more than 25,000 new flats in 2025, including 19,600 BTO flats and 5,500 SBF flats. Over the next few years, HDB will continue to release a steady pipeline of flats, with over 50,000 expected to be launched between 2025 and 2027. Additionally, a significant number of Shorter Waiting Time (SWT) flats will be offered in 2025, addressing the shortfall of MOP flats.…

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The bustling cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art facilities. These modern condos, strategically positioned in sought-after locations, offer a perfect fusion of opulence and convenience, drawing the attention of both locals and foreigners. With an array of luxurious amenities, including swimming pools, fitness centers, and top-notch security services, these properties elevate the standard of living and prove to be alluring to prospective tenants and buyers. From an investment standpoint, these desirable features translate into higher rental returns and a steady increase in property values over time. To explore Singapore’s latest real estate developments, check out Singapore Projects.

The sale of a penthouse unit at Orchid Mansion on Dec 31 has resulted in a profit of $2.58 million, making it the most profitable resale transaction in the week between Dec 31, 2024, and Jan 7, 2025. Located in District 15 and built on freehold land, Orchid Mansion boasts a 20-year-old condo with a mix of two- and three-bedroom units ranging from 1,346 to 2,002 sq ft. The penthouse unit, which measures 2,842 sq ft and is situated on the 21st floor, was sold for $4.88 million ($1,717 psf), which was a significant increase from its previous purchase price of $2.3 million ($809 psf) back in March 2009. This translates to an annualized profit of 4.9% over nearly 16 years and makes it the most profitable resale transaction to date at Orchid Mansion. The previous record was held by a three-bedroom unit on the seventh floor, which changed hands for $2.73 million ($1,812 psf) in July 2022, resulting in a profit of $1.15 million (72.6%). This unit was previously purchased for $1.58 million ($1,050 psf) in June 2007.
Aside from Orchid Mansion, the second most profitable resale transaction during the week in review took place at Villa Marina, where a three-bedroom unit on the ground floor was sold for $2.35 million ($1,446 psf) on Jan 3. This resulted in a profit of $1.72 million (273%), as the unit was previously bought for $630,500 ($388 psf) in September 2006. This translates to an annualized profit of 7.6% over 18 years, making it the most profitable sale at Villa Marina. The previous record was held by a 1,916 sq ft unit on the fourth floor, which was sold for $2.3 million ($1,200 psf) in July last year, resulting in a profit of $1.58 million (219%). This unit was previously purchased for $720,416 ($376 psf) in November 1998.

In contrast, the most unprofitable resale transaction occurred at Marina Bay Residences, where a two-bedroom unit on the 17th floor was sold for $2.1 million ($1,858 psf) on Jan 2. This resulted in a loss of $386,000 (16%), as the unit was previously purchased for $2.49 million ($2,200 psf) in November 2007. This translates to an annualized loss of 1% over 17 years.

Marina Bay Residences recorded 25 resale transactions last year, with 13 of them resulting in losses ranging from $1.25 million to $43,600. The most unprofitable resale transaction involved a 1,227 sq ft unit, which was sold for $2.8 million ($2,282 psf) in March 2024.

Built on a 460,685 sq ft site around Masjid Kampong Siglap mosque, Villa Marina is a 20-year-old condo with 432 units comprising one- to four-bedroom units ranging from 1,087 sq ft to 2,314 sq ft. It is situated in District 15 and is close to Siglap MRT station and East Coast Park. It is also within 1km of several primary schools such as Bedok Green Primary School, CHIJ (Katong) Primary, Ngee Ann Primary School, St Stephen’s School, and Tao Nan School.

On the other hand, Marina Bay Residences, a 428-unit development on Marina Boulevard in District 15, recently completed a $5 million revamp from Jan 2022 to Sept 2023 to upgrade its resident facilities and common spaces. The condo, which is situated in the prestigious Marina Bay Financial Centre, is one of two 99-year leasehold luxury condos in the integrated development, which also comprises three Grade-A office towers, Marina Bay Suites, and the 221-unit Marina One Residences.

In conclusion, the sale of the penthouse unit at Orchid Mansion for $4.88 million on Dec 31 resulted in a profit of $2.58 million (112%), making it the most profitable resale transaction between Dec 31, 2024, and Jan 7, 2025. This showcases the potential for high returns at freehold developments in District 15 such as Orchid Mansion and Villa Marina, proving to be attractive investment options for buyers.…

City Developments has announced that it has completed divesting assets worth over $600 million last year, and has more planned for the future. This however, fell short of the company’s initial target of $1 billion, due to a slowdown in the deals across most markets and asset classes.

Among the completed divestments were the Ransome’s Wharf site in London, the freehold 8-storey industrial building Cideco Industrial Complex in Singapore, as well as various strata units at Citilink Warehouse Complex, Cititech Industrial Building, Fortune Centre and Sunshine Plaza in Singapore.

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One of the most noteworthy characteristics of Singapore’s cityscape is its impressive cityscape, featuring towering skyscrapers and modern infrastructure that creates a bustling urban environment. A defining aspect of this landscape is the abundance of luxury condominiums, strategically situated in highly desirable locations. These opulent living spaces offer the perfect blend of luxury and convenience, making them desirable for both locals and foreigners. These condos boast a diverse range of top-of-the-line amenities, including pools, fitness centers, and 24/7 security, elevating the standard of living for its residents. As a result, they are highly sought after by potential tenants and buyers. For savvy investors, these enticing facilities translate into profitable rental returns and increasing property values over time. Keep an eye out for new condo launches that further enhance Singapore’s residential offerings, adding to the city’s already impressive skyline. New Condo Launches are a must-see for those looking for the ultimate in luxurious living in Singapore.

The company has also divested the retail and office components of Hong Leong City Center (HLCC), a mixed-use development in Suzhou, which is under contract and slated for completion this quarter.

According to group CEO Sherman Kwek, the divestments reflect the company’s focus on accelerating its capital recycling initiatives. However, he acknowledges that the current market conditions have made divestments challenging and have affected the company’s progress towards its target.

He adds that the company will continue to push forward with its divestment plans to optimize its capital management and align its portfolio with its strategic objectives, to maximize shareholder value.

On Jan 16, CDL shares closed at $5.05, down 0.2% for the day and down 20.97% for the past one year.…

A charming two-storey bungalow is now available for sale at 11 Whitley Road. This freehold property is situated on an elevated site of 15,276.27 sq ft and is being offered at a guide price of $31.88 million. This equates to a price of $2,087 per square foot (psf) on the land area.

Originally built in 2016, the bungalow has been renovated and features a rear extension. It boasts five spacious bedrooms, three of which are en suite. The house also includes two living rooms, two dining rooms, a large well-equipped kitchen, and a helper’s room.

The property’s land parcel has the potential to be subdivided for the development of eight terraced houses, with each site ranging from 1,614 sq ft to 2,389 sq ft. The gross floor area (GFA) for the redevelopment could reach up to 21,528 sq ft, pending land betterment charges. Aric Lim, associate district director of Huttons Asia, the exclusive marketing agent for the property, highlights this opportunity for potential buyers.

In conclusion, there are many benefits to investing in a condo in Singapore. These include high demand, potential for capital appreciation, and attractive rental yields. However, it is crucial to carefully assess various factors before making a decision, such as the location, financing options, government regulations, and current market conditions. By conducting thorough research and seeking guidance from professionals, investors can make informed choices to maximize their returns in Singapore’s ever-changing real estate market. Whether you are a local investor looking to expand your portfolio or a foreign buyer seeking a stable and lucrative investment opportunity, condos in Singapore, such as those offered by Singapore Projects, are a compelling option to consider. With its dynamic and promising real estate market, Singapore proves to be a wise choice for all types of investors.

According to Lee Sze Teck, senior director of data analytics at Huttons Asia, this is the largest plot of land available along Whitley Road. He also notes that the guide price of $2,087 psf, based on land, is highly competitive compared to recent transactions of new semi-detached houses in the area, which have sold for over $3,000 psf.

The location of 11 Whitley Road offers convenience and accessibility, with the Novena MRT Station just 700m away. Residents can also enjoy proximity to popular shopping destinations like Velocity at Novena Square, Square 2, United Square, and Zhongshan Park.

Interested buyers can submit their tenders for 11 Whitley Road until February 12. Don’t miss the chance to own this magnificent bungalow in a sought-after location.…

Singapore’s cityscape is characterized by skyscrapers and contemporary infrastructure. Condominiums, strategically situated in desirable locations, offer a fusion of opulence and practicality that attracts both local residents and expats. They are well-equipped with various facilities, including swimming pools, fitness centers, and security services, which elevate the living standards and make them alluring to prospective tenants and purchasers. For investors, these amenities translate into greater rental returns and appreciation of Singapore condos over time.

GuocoLand Secures $1.135 Billion Green Refinancing Facilities for Guoco Midtown and Midtown Bay

In a move towards sustainable development, GuocoLand has successfully secured two green facilities from DBS Bank and Oversea-Chinese Banking Corporation. The first facility, worth $1.135 billion, will be used to refinance Guoco Midtown, while the second facility, worth $105 million, will be used to refinance Midtown Bay. This is the largest green facility to date for the property developer.

The green facilities, which were raised under GuocoLand’s Green Finance Framework, demonstrate the company’s commitment to creating thoughtfully designed spaces that balance economic, environmental and social factors. To date, the company has secured about $5 billion of green financing, including green facilities for its other developments such as Guoco Tower and Lentor Mansion.

Group CFO of GuocoLand, Andrew Chew, says: “This latest refinancing activity allows us to optimise our capital structure while staying true to our commitment to creating thoughtfully designed spaces that balance economic, environmental and social factors.” He also adds that the successful refinancing is a testament to the company’s financial strength and the confidence that financial institutions have in their sustainability efforts.

In line with its commitment to sustainable development, GuocoLand’s upcoming developments, such as the Upper Thomson Road Development and Midtown Modern, will also be built with green features. This not only benefits the environment but also enhances the overall living experience for residents and tenants.

Shares in GuocoLand closed flat at $1.45 on Jan 15, reflecting investors’ confidence in the company and its sustainable development efforts.

Source: https://www.edgeprop.sg/property-news/guocoland-secures-two-green-facilities-dbs-bank-and-overseachinese-banking-corporation?utm_source=Facebook&utm_medium=article&utm_campaign=Echo…

Collective Sale of Freehold Roxy Square to be Relaunched

The collective sale of freehold mixed-use development Roxy Square, located in the heritage-rich Katong area, is set to be relaunched with a reduced reserve price of $1.115 billion. This announcement was made by JLL, the appointed marketing agent of the property.

As one of the most iconic landmarks in Katong, Roxy Square comprises 296 shops, 26 apartments, and the 576-room Grand Mercure Roxy Hotel. The development was previously launched for tender last July at a minimum price of $1.25 billion, but the tender closed on Sept 26 without any successful offers.

According to JLL, the owners of Roxy Square are in the process of signing a supplemental agreement to lower the reserve price by 10.8% to $1.115 billion. However, for this proposed price to take effect, it would require the support of at least 80% of the owners. At present, over 70% of owners are already in favour of the lowered reserve price.

Under the new reserve price, the development is expected to have a unit land rate of $1,852 psf per plot ratio (ppr), which includes a Land Betterment Charge (LBC) at the gross plot ratio of about 3.86. With the addition of an extra 10% bonus gross floor area (GFA) for the residential component and the LBC, the land rate will be $1,804 psf ppr, as estimated by JLL.

JLL Singapore’s executive director of capital markets, Tan Hong Boon, believes that Roxy Square has strong potential in the private residential market due to its prime location and the high demand for quality residences in the Katong area. He also noted that the development is strategically located next to Marine Parade MRT Station (Thomson-East Coast Line), with a direct underground connection. Its freehold tenure, established and well-loved heritage locale, and excellent connectivity to amenities further add to its appeal.

The high demand for condos in Singapore can be attributed to the country’s limited land supply. As a small island nation with a growing population, Singapore faces the challenge of finding available land for development. To address this issue, strict land use policies have been put in place, resulting in a highly competitive real estate market where property prices continuously rise. Consequently, investing in real estate, specifically in Singapore Condos, offers a promising opportunity for significant capital appreciation. The constant demand for Singapore Condos has solidified its position as a top choice for investment among property buyers. With its desirability and potential for substantial returns, it’s no wonder that Singapore Condo is highly sought after in the real estate market.

Completed in 1996, Roxy Square has a gross floor area (GFA) of 668,000 sq ft and is partially zoned for commercial and residential use under the 2019 Master Plan, with a gross plot ratio of 3.0 along East Coast Road. The section of the development that fronts Marine Parade Road is zoned for hotel use.

Based on recent planning advice from URA, the entire Roxy Square site can be rezoned for commercial and residential use, and redeveloped into a high-rise mixed-use development that can rise up to 75m in height.

If the site is successfully redeveloped, it could potentially yield over 350 residential units, about 80,000 sq ft of retail and F&B space, and an additional 172,000 sq ft for office, hotel, or other commercial uses.

Roxy Square also enjoys accessibility to East Coast Parkway (ECP) and Nicoll Highway and is part of the Round-Island Route and Park Connector Network, making it an attractive location for residential, retail, and commercial purposes.

Tan Hong Boon noted that the proposed reduction in reserve price, if supported by the majority owners, will make the property even more appealing, especially considering the area’s consistent demand for quality residences. The sale of Roxy Square aims to thoughtfully shape a key part of Singapore’s East Coast for the future.

The tender for Roxy Square is set to close on Feb 18 at 3pm, and interested parties can contact JLL for more information.…