We are excited to work alongside UM Land to identify potential long-term collaborative opportunities not limited to Iskandar Halal Park but also in other major cities in Asia Pacific,” he adds.

Savills’ IREAS has signed an agreement with Malaysian developer UM Land to create a halal-based international production hub. This hub, called the Iskandar Halal Park, will be located in the Johor region of Iskandar.

The Iskandar Halal Park will offer a logistics centre that supports the storage, transportation, and warehousing of halal products. It is intended to be a halal regional hub for manufacturers, service providers, and investors.

JCube Residence Condo will transform the area into a vibrant housing and retail hub, and serve to help meet the Jurong Lake District’s growing residential needs. The condominium will also provide quality lifestyle facilities as well as pamper residents with better views and lush greenery.

In collaboration with Haltex Group, the …

Former JCube will be located next door to Jurong Regional Centre, and strategically optimised with the regions on either side to create an integrated and sustainable development. The project is set to be a major centre of activity for the west of Singapore.

Despite a 7.2% q-o-q increase in private residential rents in the first quarter of 2023, Singapore’s rental market is showing signs of slowing. Savills Research estimates that private residential rents will soften in the second half of 2023, a forecast underpinned by the declining leasing market.

According to URA figures, private rental transactions fell by 11.7% year-on-year in the first quarter, while HDB rental applications dropped by 5.2%. Additionally, rents of high-end non-landed residential properties only rose modestly by 4.7% quarter-on-quarter to $6.11 psf.

It appears that the slowing demand is more likely due to economic factors than high rents, as pockets of slack in rental demand …

Among the condos that hit a new psf-price high between April 30 to May 5, New Futura topped the list following the sale of a 2,691 sq ft, four-bedroom for $12.5 million or $4,645 psf on May 5. It beats the previous high of $4,630 psf set in May 2018 after a penthouse measuring 7,836 sq ft fetched $36.3 million.

The new high at New Futura is located along Leonie Hill Road. It is a luxury condo by City Developments that was completed in 2017. It has 124 units housed in twin 36-storey towers. Units comprise a mix of two-bedroom apartments of 1,098 sq ft to four-bedroom apartments of 2,691 sq ft with double-volume ceilings.

Likewise, Hyll on Holland also saw a new psf-price high following the developer’s sale of a 1,055 sq ft, three-bedroom plus study unit for $3.23 million or $3,059 psf on May 1. This surpasses the …

Sentosa Cove three-bedroom condo, The Berth by the Cove, will be up for sale on May 24. The unit, measuring 1,668 sq ft, has a guide price of $2.6 million and is currently tenanted, offering investors an attractive rental yield of over 3%. Located near eateries, retail outlets, and recreational and lifestyle facilities, the unit is close to the CBD, just a 10-minute drive away.

Sentosa Cove’s first private condo, The Berth by the Cove, is offering a three-bedroom apartment for sale on May 24. The owner-sale unit is an ideal option for investors looking to secure an immediate rental return, with a guide price of $2.6 million and a current tenancy that will last until March 2025.

Measuring 1,668 sq ft, the unit’s guide price works out to $1,559 psf, with a rental yield of over 3%. The property is located on the second floor with a private lift …

Tan See Min is a 67-year-old Singaporean and the third-generation owner of the conservation shophouse at 24 Purvis Street, built in 1927. His grandfather had operated a packaging and parcelling business from the first level of the shophouse while the family lived upstairs in five bedrooms.

Tan remembers fondly his childhood living in the family estate in Sembawang, picking durians and tapping rubber with his mother. When he became a teenager, he relocated to Purvis Street where he would help his father on deliveries, carrying lorry-loads of cylinders.

Tan himself had spent six years as a regular in military service before becoming a businessman and the owner of property development consultancy Acmecon Engineers, conducting projects in China, the Middle East and Singapore. War had taken his grandfather, father and uncle away and Tan and his cousin became joint asset owners in 2011.

He decided to invest $1 million in 2016 …

With renewed interest in the Jalan Anak Bukit and Bukit Timah neighbourhood due to the upcoming launch of The Reserve Residences, an exclusive marketing agent for the strata-titled carpark at Bukit Timah Plaza has kicked off the sale of the space. Sammi Lim, founder and executive director of Brilliance Capital, is offering 427 carparking and 14 motorcycle spaces for expression of interest (EOI).

The carpark at Bukit Timah Plaza, comprising 427 carpark and 14 motorcycle spaces, is being put up for sale by Sammi Lim, founder and executive director of Brilliance Capital. The carpark has direct access from both the shopping mall and Sherwood Towers, and its combined strata area is about 152,772 sq ft – equivalent to 22% of the total strata area in the development. The carpark also represents 178 (4%) of the total 4,544 shares in the development, giving the owner a significant say should there be …

CapitaLand Ascendas REIT (CLAR) is set to deepen its presence in the one-north area of Singapore with the acquisition, for a total of $232.4 million, of The Shugart, an integrated high-specification research and development (R&D) facility owned by Seagate Singapore. The facility, located at 26 Ayer Rajah Crescent, is a six-storey podium and nine-storey tower with a cleanroom and data centre space.

Once the acquisition is completed, expected in the second quarter of 2023, CLAR’s total assets under management (AUM) in one-north will increase by 13% to $1.9 billion and its net lettable area (NLA) to 2.5 million sq ft. Its five existing assets in the area comprise Nexus @one-north, Galaxis, Grab Headquarters, Neuros & Immunos and Nucleos, and cater to the infocomm technology, media, science and engineering, biomedical and life sciences and emerging industries.

The new JCube Residence Jurong East development will be a mixed-use project, comprising retail, residential …

A foreign buyer has recently acquired two luxury condo units in District 9, Singapore, despite the hikes in additional buyer’s stamp duty (ABSD). The first property is a four-bedroom, 2,691 sq ft unit located on the 24th floor of the freehold New Futura condo along Leonie Hill Road. According to data from URA, the unit was purchased for $12.5 million ($4,645 psf). The buyer paid an ABSD rate of 30% or $3.75 million for the purchase.

The seller had bought the unit in January 2018 for $9.13 million ($3,395 psf). As such, they made a 37% profit on the sale – the most profitable resale transaction at New Futura to date. The 124-unit, freehold development was completed in 2017 by developer City Developments Ltd and is a twin 36-storey tower designed by American architecture firm Skidmore, Owings and Merrill.

JCube Residence is strategically located near the bustling Jurong East MRT …

Chinese buyers of luxury Singapore homes defy tax hike Foreign buyers of luxury Singapore properties have turned to two prime District 9 condo units despite recent ABSD hikes. Chinese buyers who are non-permanent residents, in particular, scooped up four-bedroom apartment at New Futura for $12.5 million and a six-bedroom townhouse at Yong An Park for $14.08 million, according to URA data.

Despite the hikes in additional buyer’s stamp duty (ABSD) that came into effect on April 27th, two luxury condo units in prime District 9 of Singapore have been purchased by foreign buyers. Chinese buyers who are non-permanent residents snapped up the units – the first a four-bedroom, 2,691 sq ft unit at New Futura, a freehold condo along Leonie Hill Road in District 9. URA data shows that a caveat was lodged for the sale of the unit, located on the 24th floor, on May 3rd, for a psf-price …

Luke Billiau has been promoted to head of capital markets in Australia and New Zealand at JLL. With over 140 professionals on the team, Billiau will oversee JLL’s capital markets platform in Australia.

Billiau has been with JLL since 2007 and held a number of prominent positions prior to his new role, including head of capital markets for New South Wales, as well as head of office investments for Australia.

JCube Residence Capitaland, a condominium redevelopment project, will bring exciting new opportunities for people living in the Jurong Lake District (JLD) and Cheng Lim Drive (CLD). This project will provide new homes, businesses, recreational facilities and various amenities to the JLD and CLD. Furthermore, the confirmation of a 6.8-hectare mega white site on the 2023 government land sales programme has added to the anticipation and offers prospective property owners the chance to invest in and around the JLD and …