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Subscribe to this list via RSS Blog posts tagged in singapore property

The-Clement-Canopy-Artist-Impression.jpg

The Clement Canopy, a 505-unit condominium at Clementi Avenue 1, drew large crowds at the start of its preview last weekend. More than 5,000 people crammed into its showflat over two days to view the two- to four-bedroom apartments.

Spread across two 40-storey blocks, the units range from 635 sq ft to 1,539 sq ft, with prices starting from $850,000 for the smallest units. The average price of the project is in the range of $1,330 psf to $1,360 psf.

Jointly developed by UOL Group and SingLand, the 99-year leasehold project is the first condo to launch in 2017. It is located close to NUS High School of Mathematics and Science and Nan Hua High School.

Anthony Wong, General Manager of Marketing at UOL, said: “We see a very strong interest for The Clement Canopy as there has not been any launch within the vicinity for some time. I believe the price is the key to the excitement that we see amongst the crowd.

“Moreover, buyers recognise the value of the project, given the attractive pricing and location, which is near one-north and the education hub. Riding on the improved market sentiment, buyers who have been staying on the sidelines are now actively seeking out affordable properties with good location and design.”

In line with Singapore’s vision to become a Smart Nation, UOL has joined a long list of developers to incorporate smart home technology in its latest project. For instance, future residents of The Clement Canopy will be able to book common facilities such as the tennis court and clubhouse through a mobile app. Using the same app, homeowners can also remotely control door access, air-conditioning and lighting in their units.

Meanwhile, the preview period for The Clement Canopy will stretch for another weekend, while balloting starts on 25 February.

Giving an update on sales figures at its previous launches, UOL said it has seen an increase in transactions since the start of the year.

Thomson Three and Seventy Saint Patrick’s in Marine Parade are now fully sold, while Botanique at Bartley, a 797-unit condominium, is left with just nine units. Over in Sengkang, the 555-unit Riverbank @ Fernvale project, which comes with bike-sharing facilities, is left with 18 units, while Principal Garden at Prince Charles Crescent has sold more than half of its units.

This improved sentiment in the housing market carries on from a good year-end take up of 7,972 private units in 2016, up 7.2 percent from the year before, noted analysts.

 

Credits: Propertyguru

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CRL Realty, a wholly-owned subsidiary of property giant CapitaLand, has sold its 100 percent stake in Nassim Hill Realty (NHR) to Kheng Leong Company for $411.6 million.

In an SGX filing on Monday (16 January), CapitaLand revealed that NHR was responsible for developing The Nassim, a luxurious low-rise condominium located along Nassim Hill in District 10. It presently owns 45 units in the freehold property.

The consideration, which was satisfied entirely in cash, is subject to post-completion adjustment and comprises the estimated net tangible assets value of $138.7 million as at 16 January 2017.

It also takes into account the $407.2 million agreed property value for the 45 units in The Nassim, as well as an assignment of a $272.9 million shareholder’s loan.

Based on CapitaLand’s unaudited consolidated financial statements for the nine months ended 30 September 2016, and assuming the sale was effected on 1 January 2016, CapitaLand’s earnings per share would have increased from 17.9 cents to 21.7 cents.

However, assuming the sale was effected on 30 September 2016, the financial impact on CapitaLand’s net tangible asset per share would not be material.

Credits: Propertyguru

 

Take a look at CapitaLand Properties: Skyvue Bishan, Sky Habitat Bishan, Bedok Residences Bedok, D' Leedon Farrer Road, The Interlace Alexandra, Victoria Park Villa Tanglin, Cairnhill Nine Orchard
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Posted by on in New Launches

Singapore developers posted mixed results in the third quarter of 2016, with City Developments Limited (CDL) reporting a profit increase and UOL Group registering a decline.

CDL saw its net profit for Q3 soar 60.1 percent to $170.3 million, from $106.4 million over the same period last year.

The group attributed the increase to robust sales in the property development segment, as well as gains from the divestment of its entire 52.52 percent stake in Hong Kong-listed City e-Solutions Limited.

Revenue climbed 14 percent to $922.8 million, driven by the property development segment, including maiden contributions from the Gramercy Park project in Singapore and Hanover House in the UK, as well as contributions from Coco PalmsD’Nest and The Venue Residences and Shoppes projects in Singapore.

As at 30 September 2016, CDL’s net gearing stood at 27 percent, excluding any fair value surpluses on investment properties, with $3 billion of cash and cash equivalents.

To enhance shareholder returns, CDL Executive Chairman Kwek Leng Beng revealed that the company is reviewing its asset portfolio and business model.

“We are accelerating our diversification initiatives and will continue to focus on improving the group’s performance wherever possible, across all segments – property development, hotel operations, investment properties and funds management,” he said.

“We have an exceptionally robust balance sheet and are building our war chest to capture attractive opportunities during this period of market dislocation.”

Meanwhile, UOL posted a 14 percent drop in net attributable profit to $87.1 million in Q3, due mainly to lower gross profit margin and contributions from joint venture companies.

The share of profit from associated and joint venture companies declined 35 percent to $29.1 million on the back of lower contribution from Archipelago and Thomson Three, which were completed in September 2015 and May 2016, respectively.

Group revenue, however, rose 11 percent to $393.4 million with the property development segment witnessing an increase of 19 percent to $206.6 million due to higher progressive revenue recognition from Botanique at Bartley, Principal Garden and This email address is being protected from spambots. You need JavaScript enabled to view it." target="_blank">Riverbank@Fernvale.

“Although new loans were secured to fund the group’s acquisition of 110 High Holborn in London and for advances to a joint venture company to fund The Clement Canopy at Clementi Avenue 1, these were largely offset by repayments with funds from operations,” the company said in an SGX filing.

 

Credits: Propertyguru

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Posted by on in New Launches

Housing measures and other factors have opened a new window of opportunity for home buyers.

Considered a playground for wealthy Singaporeans and foreigners, the exclusive residential enclave of Sentosa Cove has lost some of its lustre from its heyday; due mainly to the 2008 global financial crisis and the onslaught of the government’s property cooling measures, revealed a new white paper from Colliers International. 

Nonetheless, a window of opportunity may have opened in this high-end market, offering sound investment fundamentals in the long term. 

Home to several prime property developments, Sentosa Cove saw owner-occupiers and investors eagerly snapping up its first few condominium projects, including The Berth by the Cove, The Azure, The Oceanfront@Sentosa Cove and The Coast at Sentosa Cove. 

From Q4 2004 to Q1 2008, condominium prices in Sentosa shot up 213.8 percent compared to the 124.2 percent median price growth of those on the mainland. 

After almost a decade since new homes were launched in Sentosa Cove, the residential enclave fell off the radar of investors and owner-occupiers as the global financial crisis, which started to take hold towards the end of 2008, affected the condominium market in the area. 

Its impact was further aggravated by the introduction of property measures and saw median prices of condominiums fall 44.2 percent in two consecutive quarters to hit S$1,646 psf by end-September 2013, or 1.5 percent down from prices of their mainland counterparts. 

The about turn offers home buyers the opportunity for value investment and the ability to own a dream home. 

Notably, the S$1,646 psf median price of condominium units in Sentosa Cove is only 25.6 percent higher than the S$1,311 psf median price of 99-year leasehold mass-market condominiums in the Outside Central Region (OCR) during Q3 2013. In addition, “the entry-level price band of S$1.7 to S$2.0 million is comparable and in some instances, more favourable than the prices of some popular new mass-market homes on the mainland”, noted Colliers. 

Aside from that, there is also “potential for the net rental yields of 2.8 percent as of September 2013 to return or even exceed the historical high of 5.4 percent achieved in Q4 2008 in the long run, when the major economies emerge from their doldrums”.

 

Credit from PropertyGuru

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