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Construction on two Jurong Region Line stations to be completed by 2029

Construction for the two new Jurong Region Line stations located near Enterprise Road and Jalan Tukang is expected to be completed by 2029. Construction works for two Jurong Region Line (JRL) stations are expected to start this month, and is slated for completion by 2029, announced the Land Transport Authority (LTA) on Wednesday (12 May). The two stations, namely JS9 and JS10, will be located near...

Singapore’s condo resale volume hit 11-year high in April

Singapore’s condo resale volume hit 11-year high in AprilSales volumes for resale condominiums in Singapore grew 528.7% from last year, to hit an 11-year high of 1,993 transactions in April 2021. Singapore saw 1,993 resale condominiums sold in April, up 528.7% from last year and 125.2% higher as compared to the five-year average volumes seen for April. The figure also marks the highest since April...

CapitaLand’s improving operational performance continued into Q1 2021

Residential units sold in Singapore increased by almost four-fold compared to a year ago. CapitaLand shared that the improving operational performance of its asset classes continued from the second half of 2020 into the first quarter of 2021. However, the pace of recovery is varied across geographies, it said in a business update on Wednesday (12 May). CapitaLand noted that its international portfolio has...

Construction firms may seek to adjust value of business contracts amid increased labour costs

Construction firms may seek to adjust value of business contracts amid increased labour costsIn a bid to mitigate the impact of the border restrictions, the government has also increased foreign worker levy rebates from $90 per month to $250 per month per worker from May to December. With the amendments to the COVID-19 (Temporary Measures) Bill passed in Parliament on Tuesday (11 May), construction...

BTO projects ‘to be delayed’ by a year or more, says Wong

BTO projects 'to be delayed' by a year or more, says WongBuild-to-Order (BTO) housing projects to be delayed by one year or even more amid the tightened COVID-19 border measures.  Education Minister Lawrence Wong expects the completion of many Build-to-Order (BTO) housing projects to be delayed by one year or even more amid the tightened COVID-19 border measures, which affects the construction sector,...

4,600 public rental households have moved to home ownership in the past five years: MND

4,600 public rental households have moved to home ownership in the past five years: MNDOf these, 36% became home owners in less than five years, 32% moved into their own homes in five to 10 years, whilst the remaining 32% achieved home ownership after more than 10 years of living in public rental flats. About 4,600 public rental households went on to acquire their own homes in the last five years, or...

Around 2,000 HDB units still do not have direct lift access due to technical and cost constraints: HDB

Around 2,000 HDB units still do not have direct lift access due to technical and cost constraints: HDBHDB noted that it is not possible to implement the LUP due to prohibitive costs or technical constraints.  The Housing and Development Board (HDB) has received 28 complete applications for the Lift access Housing Grant (LHG) as of February 2021, of which 22 were approved and four are under evaluation,...

Chip Eng Seng, SingHaiyi, Chuan Investments JV clinches Maxwell House for $276.8mil

Chip Eng Seng, SingHaiyi, Chuan Investments JV clinches Maxwell House for $276.8milThe joint tenders plan to seek approval from the URA to redevelop the commercial property into a “mixed-use development. Photo: Cushman & Wakefield SingHaiyi Investments (a subsidiary of SingHaiyi Group), Chip Eng Seng, and Chuan Investments have jointly won the collective sale tender for Maxwell House for $276.8...

Park Nova penthouse sets new record $5,838 psf

Park Nova penthouse sets new record $5,838 psfThe 5,899 sq ft penthouse, the biggest at Park Nova, was sold for $34.438 million or $5,838 per sq ft (psf).  A 5,899 sq ft penthouse, the biggest at Park Nova, has been sold for $34.438 million or $5,838 per sq ft (psf), setting a new record for the highest psf price paid in a home sale within Singapore The ultra-luxurious residential development in District...

One Bernam sells over 80% of released units at launch

One Bernam sells over 80% of released units at launch90% of the units sold were 1- and 2-bedroom units.  One Bernam, the sixth residential collaboration between the MCC Group in Singapore and Hao Yuan Group, has sold more than 80% of the first phase of 100 units released during its weekend launch. Due to tightened COVID-19 measures, the developers released the units for sale in phases and brought forward...

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