CapitaLand Ascendas Reit to convert San Diego office property to life sciences building for US$40m



THE manager of CapitaLand Ascendas Reit, formerly known as Ascendas Reit, has inked an agreement with a biotech company in California to convert a San Diego office property into a life sciences property at US$40 million.



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Bukit Sembawang Estates appoints Chng Kiong Huat as CEO



PROPERTY development and investment group Bukit Sembawang Estates has appointed Chng Kiong Huat as the group’s chief executive officer.



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Tighter borrowing limits in line with weakening risk appetite among banks: mortgage brokers



THE government’s move to limit how much property buyers can borrow is largely in line with the weakening risk appetite among banks, mortgage brokers said.



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8M Real Estate buys island block of 5 shophouses in Jalan Besar for S$40m



SINGAPORE-BASED real estate investment company 8M Real Estate is buying an island block of 5 adjoining conserved shophouses along Jalan Besar, literally a stone’s throw from Jalan Besar MRT station, for S$40 million.



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Amid a rough economic climate, cooling measures may halt the strong run-up in Singapore home prices



Barely nine months after a round of property cooling measures that kicked in late 2021, the government unveiled measures that take effect on Sep 30, 2022 to promote sustainable conditions in the property market by ensuring prudent borrowing and moderating demand.



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Tighter loan limits could feed demand for smaller flats, raise rentals further, curb overall buying



TIGHTER limits on property loans announced late last night will shrink homebuyers’ purchasing power and pinch on affordability, market analysts observed. And this could feed into greater demand for smaller flats – specifically resale 4-room Housing Development Board (HDB) flats – while also leading to higher rental rates and a slowdown in demand for private property.



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Quick takes: Will new loan limits, 15-month wait period finally cool property demand?



LATE on Thursday (Sep 29), the Monetary Authority of Singapore (MAS), Ministry of National Development (MND) and Housing Board (HDB) announced a fresh set of cooling measures, tightening limits on housing loans.



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Hot stocks: Property plays dip amid latest cooling measures



SEVERAL property-related stocks took a hit on Friday (Sep 30) as the new measures to tighten limits on housing loans took effect. 



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Manulife US Reit manager names Caroline Fong deputy CEO



THE manager of Manulife US Real Estate Investment Trust (Manulife US Reit) has appointed Caroline Fong as deputy chief executive officer (CEO), effective immediately.



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Housing loan limits – including for HDB loans – tightened in fresh measures to cool property market



FRESH measures to tighten limits on housing loans – including for public housing – will come into effect Friday (Sep 30), in a bid to ensure prudent borrowing and moderate demand, the government announced in a statement released late last night.



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ESR-Logos Reit divests 2 Jalan Kilang Barat for S$35.3m, 21.7% above valuation



THE trustee of ESR-Logos real estate investment trust (E-Log), RBC Investor Services Trust, has entered into a sales contract to divest the trust’s property at 2 Jalan Kilang Barat for S$35.3 million, translating to a 21.7 per cent premium to valuation.



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Chuan Park owners headed for mediation over en bloc sale; Senior Counsel appointed



REPRESENTATIVES of Chuan Park owners are set to meet for their first mediation session on Oct 18, to see if they can resolve disagreements over the condominium’s en bloc sale.



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URA, MOH launch Parry Avenue site for private assisted living development



THE Urban Redevelopment Authority (URA), together with Singapore’s Ministry of Health (MOH), on Thursday (Sep 29) put up a site at Parry Avenue for sale via tender. This will be for a pilot private assisted living development with senior-friendly features.



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Q3 office rents near 14-year high; landlord’s market to extend into 2023: consultants



DESPITE global economic headwinds, Singapore’s office rents in the third quarter have exceeded the pre-pandemic peak to reach a near 14-year high, with expectations of continued strength next year.



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Serene Centre to go up for sale; Sultan Plaza plans to lower en bloc reserve price



SERENE Centre, a freehold mixed-use development near Bukit Timah Road, will be put up for sale via tender on Thursday (Sep 29) with a reserve price of S$120 million, marketing agent Cushman & Wakefield said on Wednesday.



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15 strata units in International Plaza for sale at S$60m guide price



A PORTFOLIO of 15 commercial units in International Plaza has been put up for sale via expression of interest (EOI), with a guide price of S$60 million, the sole marketing agent Edmund Tie announced on Tuesday (Sep 27).



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Two buildings zoned commercial in Tanjong Pagar to be launched for collective sale



A PAIR of 5-storey buildings on Hoe Chiang Road and Lim Teck Kim Road in prime Central Business District’s (CBD) Tanjong Pagar will be launched for collective sale in mid-November after recently achieving 80 per cent consent from owners.



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Location can continue to drive price premium for CBD offices, prime area homes



SINGAPORE’S suburbs have transformed over recent years. Places such as Jurong and Tampines have become high-quality live, work and play destinations.



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Cuscaden unit puts three Nassim Rd bungalows on market for record S$5,200 psf



Three freehold bungalows along Nassim Road owned by Cuscaden Peak Investments have been put on the market with an asking price of S$5,200 per square foot (psf) on land area. If achieved, this would be a record price for bungalow redevelopment land in a Good Class Bungalow (GCB) Area.



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