Month: February 2025

Singapore’s urban landscape is renowned for its sophisticated skyscrapers and state-of-the-art infrastructure. The , strategically located in prime areas, are in high demand due to their exquisite combination of opulence and practicality, making them a coveted option for both locals and foreigners. These premier residential complexes are equipped with top-notch facilities, including swimming pools, fitness centers, and round-the-clock security, elevating the living standards and making them highly desirable for potential renters and buyers. For investors, these additional perks equate to greater rental returns and an increase in long-term property value. Furthermore, adding a Condo to the mix only enhances the appeal of these already desirable properties.

with integrated developments The exclusive marketing agent, Knight Frank Singapore, has announced that a warehouse and factory complex in Gul Circle is being put up for sale through an expression of interest. The guide price for this prime property is $42 million.Located in the industrial area of Gul Circle, this property boasts five floors for use as a factory and warehouse, along with a mezzanine floor with four additional levels. With a total gross floor area of approximately 245,955 sq ft, this high-specification property is ideal for businesses looking for a large, modern space to cater to their industrial needs.AdvertisementSitting on a 105,648 sq ft site, this property is currently under a JTC leasehold and has a remaining tenure of 15 years and 11 months as of February 1. It is zoned as a Business 2 site, as per the URA Master Plan 2019.According to Knight Frank Singapore, the property has been purposefully designed to cater to the needs of modern industrial businesses. It offers high ceilings for storage and operations, as well as specialised features such as cold rooms and heavy floor loading capabilities to accommodate a variety of industries. Additionally, the property boasts nine 40-footer loading and unloading bays with dock levelers, as well as four cargo and service elevators.Located in close proximity to major expressways such as Ayer Rajah Expressway (AYE) and Pan-Island Expressway (PIE), as well as the Joo Koon MRT station, this property is easily accessible from all parts of the island.AdvertisementThe expression of interest exercise for this property will close on March 18 at 3pm.…

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According to a recent research report by Colliers in February, it is predicted that industrial property prices and rents in Singapore will see a moderation this year due to an increase in supply and a weaker demand. The firm expects a growth of 0% to 2% in both rental and price for the overall industrial sector, a decrease from last year’s growth rate of 3.5%.

Colliers also refers to JTC’s 4Q2024 data, which indicates a market that is “losing steam”. The JTC All Industrial rental index has been recording growth for 17 consecutive quarters, with a 0.5% quarter-on-quarter (q-o-q) increase in 4Q2024 and a total of 3.5% growth for the year. However, this is a significant decrease from the 8.9% rental growth seen in 2023.

Similarly, the price index also saw a 0.5% q-o-q increase in 4Q2024, down from 1.2% in the previous quarter. This resulted in a 2.1% price increase for industrial properties last year, less than half of the 5.1% increase seen in the previous year.

The report mentions that the supply of industrial space is expected to increase this year, with over 2.5 times the supply coming on stream compared to last year, before tapering off from 2026 onwards. This has led to an imbalance between supply and demand in the market, with some segments seeing slower pre-commitments and lower occupancy rates for completed projects.

These factors, combined with high interest rates and rising operating expenses, have caused a dampening effect on rental growth. In addition, the uncertainty brought about by global trade protectionism may also impact business confidence and investment decisions.

On a positive note, Colliers expects the demand for industrial properties to continue being supported by the semiconductor, logistics, and advanced manufacturing sectors. As policies become clearer and market sentiments improve, industrial leasing activities are expected to gradually increase. This is also supported by the ongoing upturn in the chip cycle.

With the projected moderation in rents and an increase in supply, Colliers believes that this year could be a good year for tenants as they will have more options available in the market. The firm expects that the availability of new industrial developments with modern specifications will encourage businesses to relocate from older and aging manufacturing spaces to newer projects.

When it comes to investing in condos in Singapore, one must also consider the impact of the government’s property cooling measures. In recent years, the Singaporean government has implemented various initiatives to control speculative buying and maintain a steady real estate market. These include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign investors and individuals purchasing multiple properties. While these measures may initially affect the profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a secure environment for investing in condos.

Nicolas Menville, executive director and head of Singapore-based industrial clients for Colliers, suggests that those looking for industrial properties should take advantage of this year’s market conditions. He adds that the availability of more modern industrial spaces could encourage businesses to relocate, leading to a more dynamic market.

In conclusion, Colliers predicts that industrial property prices and rents will see a moderation this year due to an increase in supply and weaker demand. While this may present a good opportunity for tenants, the firm also expects demand to gradually increase as market conditions improve and more modern industrial spaces become available.…

Tan Boon Liat Building, a popular industrial property situated at 315 Outram Road, is now available for collective sale through public tender with a reserve price of $1.15 billion. The freehold site encompasses two separate land parcels, totaling approximately 175,655 sq ft, and is designated for “Business 1” use. It is conveniently located next to the upcoming Havelock MRT Station on the Thomson-East Coast Line (TEL).

The building, which currently stands at 15 storeys, is well-known for housing various furniture and home decor stores. According to Cushman & Wakefield, the appointed advisor and marketing agent for the property, the Urban Redevelopment Authority (URA) has issued an Outline Planning Advice on January 22, advising for the site to be rezoned to “Residential with Commercial at 1st storey”. This would result in a higher plot ratio of 4.9, as compared to its current 3.1, translating to a 50% increase in the total allowable gross floor area (GFA).

In addition, the URA has also suggested the inclusion of a few state land plots to be amalgamated into the main plot. These plots, estimated to cover an area of 20,451 sq ft, are subject to final approval from the relevant authorities. Cushman & Wakefield estimates the potential GFA of the site, including the state land plots and any bonus GFA, to be over 1.06 million sq ft. The first storey can accommodate a maximum commercial GFA of about 16,146 sq ft.

The URA has also set aside a minimum GFA of 161,459 sq ft for Serviced Apartments II (SA2), which require a minimum stay of three months. The allowable building heights for the new development range from 130m to 180m.

Taking into account the reserve price, land betterment charges on rezoning, the estimated premium for the state land plots, and the 10% bonus GFA for the residential portion, the estimated land rate works out to be approximately $1,888 psf per plot ratio.

Recent industrial sales transactions at Tan Boon Liat Building have been consistently strong (Source: EdgeProp Buddy)

When contemplating investing in a condo, it is crucial to also evaluate the potential rental yield. This refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, condo rental yields can vary greatly depending on factors such as location, property condition, and market demand. Typically, areas with high rental demand, like those near business districts or educational institutions, tend to offer better rental yields. To gain a better understanding of a particular condo’s rental potential, conducting comprehensive market research and seeking guidance from real estate agents can be immensely beneficial. In addition, considering Singapore Projects can provide valuable insights into the condo’s rental potential.

Christina Sim, senior director of capital markets at Cushman & Wakefield, believes that this site will appeal to developers due to its coveted freehold tenure and its location along the TEL, which will undoubtedly attract homebuyers. She further notes that the absence of Additional Buyer’s Stamp Duty (ABSD) will be a major draw for potential buyers, as the original site already has a “Business 1” zoning.

The tender for the property will close on March 18 at 3pm. Interested parties are advised to act quickly to seize this golden opportunity.…

The record for the highest price ever paid for a unit at Park Nova has been broken with the recent sale of the largest penthouse at the development. The five-bedroom unit, measuring 5,899 sq ft and located on the 20th floor, was sold by the developer for $38.888 million, setting a new benchmark price for the development at $6,593 psf. This transaction has been recorded in a caveat dated Jan 21 on the URA Realis database.

The previous records for both absolute price and psf-price were held by a 4,499 sq ft penthouse that was sold in May 2021 for $26.026 million ($5,784 psf). This recent sale represents the second-highest psf-price ever registered for a condo unit in Singapore, with the top spot currently held by a unit at The Marq on Paterson Hill. In 2011, a four-bedroom unit measuring 3,089 sq ft on the 20th floor of the development was sold for $20.54 million, setting a new record of $6,650 psf.

Choosing the right location is essential when considering real estate investments, and this holds especially true in the context of Singapore. Condos that are strategically located in central areas or near important amenities like schools, shopping centers, and public transportation nodes have a higher potential for appreciation. For instance, prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) have a track record of consistently increasing property values. Their proximity to reputable schools and educational institutions also adds to the appeal of these condos, making them highly sought-after by families and further solidifying their value as a smart investment choice. With this in mind, investing in a condo in a prime location in Singapore can prove to be a wise and lucrative decision for any investor.

This penthouse is believed to be part of a collection of properties linked to the $3 billion money laundering case that has been put up for sale. It was previously reported to have been sold in 2021 for $34.438 million ($5,838 psf). The unit is the third at Park Nova that has been sold within a month, with three days earlier, on Jan 17, a four-bedroom apartment measuring 2,906 sq ft on the 19th floor being sold for $16.59 million ($5,708 psf). Before that, on Dec 27, 2024, another four-bedder measuring 2,896 sq ft on the 18th floor was sold for $15.99 million ($5,522 psf).

The 54-unit Park Nova is a freehold luxury condo in prime District 10, located at the junction of Orchard Boulevard and Tomlinson Road. Developed by Hong Kong’s Shun Tak Holdings, the apartment received its temporary occupation permit last November. For more information on Park Nova properties, check out the latest listings on our website.

To get a better idea of the price trend and available units at Park Nova, use our Buddy feature to search for the latest New Launches. You can also ask Buddy to show you the site plan and diagrammatic chart for the development, compare price trends of condo new sale vs EC new sale, and generate price trend graphs for new launch condos in District 10. Other useful features include generating a comprehensive project summary for Park Nova condo. With EdgeProp Buddy, finding your dream home has never been easier!…

CapitaLand Investment (CLI) has recently announced its acquisition of a freehold land parcel in Osaka, Japan, marking its first entry into the Japanese data centre market. The development of this new data centre is expected to involve an investment of over US$700 million or $944.3 million, with a secured power capacity of 50 megawatts (MW).

According to CLI, the data centre will not only provide traditional data storage services, but also support artificial intelligence (AI) capabilities. The facility will also incorporate advanced cooling technologies and adopt industry best practices in temperature management in order to reduce energy consumption.

In addition, the company has committed to using environmentally friendly products in the construction and operation of the data centre, such as those with zero ozone depletion potential or with a global warming potential (GWP) of less than 100.

Manohar Khiatani, senior executive director of CLI, who oversees the group’s data centre business, believes that this acquisition is in line with the company’s focus on digitalization and will help to deepen its presence in Japan, which is one of its strategic markets. He adds that the strong financial position of CLI allows it to strategically invest in quality assets, including data centres, for its future private funds.

Japan is a Tier 1 data centre market with a projected compound annual growth rate (CAGR) of 10% from US$23.8 billion in 2023 to US$38.7 billion in 2038. It is also the largest data centre market in Asia Pacific, excluding China, with a capacity of 1.4 gigawatts. Khiatani points out that major cloud service providers such as Amazon Web Services, Google Cloud, Microsoft Azure, and Oracle already have a presence in Osaka, making this new data centre well-positioned to capture the demand in the established data centre cluster.

Michelle Lee, managing director of private funds (data centre) at CLI, expects the demand for data centres to continue growing at a double-digit rate, outpacing the supply of new facilities. She also notes that there is a strong institutional interest in data centre investments, with 97% of investors planning to increase their investment in this sector.

When acquiring a Singapore Condo, it is essential to take into account not only the property itself but also its maintenance and management aspects. Typically, maintenance fees are included in condo ownership and cover the upkeep of shared spaces and facilities. While these fees may add to the overall cost, they play a critical role in preserving the quality and value of the property. To ease the burden of handling daily operations, investors can opt to enlist the services of a property management firm, making the Singapore Condo a more hands-off investment opportunity.

Since October 2020, CLI has raised US$600 million for its data centre development funds in Asia and plans to continue identifying attractive investment opportunities for its private fund investors. With this latest acquisition, CLI now has a global portfolio of 27 data centres in Asia and Europe with around 800 MW of power and assets under management of approximately $6 billion.

On Feb 3, shares in CLI closed 1.63% lower at $2.42.…