More residential properties are expected to go en bloc in 2017, following the success of three collective sales this year. Three successful en bloc deals this year, valued at S$1 billion, may be igniting the interest of other property owners to do the same. Raintree Gardens in Potong Pasir was acquired by a joint venture (JV) between UOL Group and United Industrial Corporation in October for S$334.2 million, Harbour View Gardens in Pasir Panjang was purchased by Roxy-Pacific Holdings in August for S$33.25 million, and Chinese developer Qingjian Realty bought Shunfu Ville in May for S$638 million.
Raintree Gardens at Potong Pasir was successfully en bloc
The Business Times
The plans to develop the central and eastern parts of the Jurong Lake Gardens (JLG) were unveiled at an exhibition launched by the National Parks Board on Saturday. The project will create new community spaces and gardens featuring unique tropical flora providing an eye soothing view. It was open for the members of the public to share their feedback regarding the plans.
The plan will also feature unique concepts like an edible show garden and a hanging bonsai garden where tropical bonsais are suspended in mid-air. The fruits and vegetables which will be produced in show garden will be served in a restaurant.
Vision Exchange at Jurong Gateway will benefit from JLG development.
90% of Hillion Mall’s net lettable area of 174,730 sq ft has been taken up. Five anchor tenants include NTUC FairPrice, PCF Sparkletots Preschool, Amore Fitness & Boutique Spa, Kopitiam and Best Denki. The mall along Petir Road in Bukit Panjang is slated to open in the 1Q2017. It is also part of the Bukit Panjang’s upcoming integrated transport hub.
This is definitely a good news to Hillion Residences owners. Hillion Residences is just above the mall and it is scheduled to receive TOP in September 2018.
Channel News Asia
Three apartments near Orchard Road were sold separately to three developers this month. Here is the summary of the transactions, for the records.
Summary of the recent en bloc sales near Orchard Road
Of late, the interest towards en bloc sales is improving especially those at the prime districts.
More than 10,000 flats were launched for sale on Tuesday (Nov 22) in the Housing & Development Board’s (HDB) largest sales exercise this year.
A total of 10,118 flats were offered, comprising 5,110 Build-To-Order (BTO) units and 5,008 units under the Sale of Balance Flats (SBF) exercise, the HDB said.
Nine new BTO projects were launched – three in Punggol and another six in Bedok, Bidadari (Toa Payoh) and Kallang/Whampoa.
The flats are priced from S$80,000, excluding grants, for a two-room Flexi flat in Punggol to S$503,000, excluding grants, for a five-room flat in Bedok.
Channel News Asia
Touted as the next Shenzhen, Forest City is located just across the north western tip of Singapore. It is part of the ongoing Iskandar development in Johor, Malaysia.
The scale of the mega project is mind boggling. Forest City will house 700,000 people on reclaimed land, with a land size 4 times the size of New York’s Central Park. Forest City is a joint venture between China and Malaysia with a cost of $100 Billion to build. The China developer is Country Country which has a track record in Malaysia incuding Danga Bay, another mega project in Iskandar.
The size of Forest City is 4 times the size New York’s Central Park
Iskandar is 3 times the size of Singapore
A land reclamation method historically used by the Dutch is to reduce Singapore’s reliance on sand, and will be first implemented at Pulau Tekong. An additional land measuring 810 ha, roughly about the size of two Toa Payoh towns will be reclaimed at the north-western tip of Pulau Tekong using a new method that is less reliant on sand. The Polder Development Method is also has minimal impact on marine lives.
Source: Today Online
Melaka Gateway is joint venture between Malaysia and China. The multi billion dollars harbour in Malacca is developed with an objective to overtake Singapore as the largest port in the region. The new deep sea port is planned in Pulau Melaka, due for completion in 2019. The Melaka Gateway Project is slated to be complete in 2025 while the deepsea port is scheduled for completion six years earlier, in 2019.
The Straits Times
The property slowdown has actually allowed prices to soften so that first time buyer or first time investors can actually get a good bargain if they play their cards right. If you buy with contingency measures set in place for the worse case scenario, you are actually in a better position than someone who buys in a good market, and who is unprepared for a downturn.
Recently big players like Mr Kuik from Sim Lian group is buying big ticket item in the property market, a $16M GCB at Chestnut Drive.
Be Fearful When Others Are Greedy and Greedy When Others Are Fearful
Discover a brand-new shopping experience with Hillion Mall at Bukit Panjang! Hillion Mall is located at the heart of Bukit Panjang, integrated with MRT, LRT and the upcoming bus interchange. Stay tuned for more updates on Hillion Mall!
Hillion Mall is intimately integrated into Hillion Residences. Check out the details of Hillion Residences at the link below: