Fit-out costs across Asia Pacific have been steadily increasing, leading many major occupiers to absorb these costs by improving their return-to-office rates. With continued inflation, tight labour markets, and supply chain delays, it’s not surprising that these costs are on the rise.

Grant Carter, head of project & development services Singapore at Cushman & Wakefield, explains that “cost is clearly a high priority for occupiers, as evidenced by the continued 0.8% q-o-q increase in CBD Grade A office rents in 1Q2023.”

Occupiers are focused on optimizing their office spaces for employee experience, which requires implementation of a workplace strategy, leveraging of technology, and consideration for sustainability and ESG factors. Singapore is currently the most expensive destination for fit-out costs in Southeast Asia.

To keep costs under control, occupiers must look beyond the fit-out cost to the bigger picture. They must consider how to best develop their workspace to maximize collaboration, …

The Jurong Region Line (JRL) will benefit Jurong Condo Residents with improved connectivity, allowing for more alternative routes and easier access to nearby areas. It also brings JCube Residence Condo train stations within 10-minutes of an additional 60,000 households.

Minor Hotels, a Bangkok-headquartered international hotel owner, operator, and investor, is broadening its presence in Europe. The company is targeting “millennial-minded travellers” with its lifestyle Avani Hotels & Resorts brand, which already has a hotel in Portugal and is expanding with five new properties in Europe over the next two years.

The first of these to open will be the 101-room Avani Alonso Martinez Madrid Hotel in Spain. This will be followed by the 65-room Avani Palazzo Moscova Milan Hotel and 144-room Avani Rio Novo Venice Hotel in Italy. Later in 2021, the group will launch the 256-room Avani Frankfurt City Hotel in Germany. In 2Q2024, the 163-room Avani Museum Quarter …

JCube Condo Residence white site to be sold to master developer, who will develop 375,000 sq m GFA in the next 5-10 Former JCube Condo years, including 1,760 private homes, 150,000 sq m office space, and 75,000 sq m for retail/hotel/community.

At The Marbella, a condo located on Mount Sinai Rise in District 10, the most profitable condo resale transaction was recorded during the week of April 18 to 25. The 1,475 sq ft unit on the 19th floor was sold for $3.5 million, which translates to a price of $2,373 psf. Originally purchased by the seller in March 2004 for $1.03 million ($698 psf), the seller netted a profit of $2.47 million, or 240%, after holding on to the apartment for over 19 years.

Since its completion in 2005, The Marbella has seen five other transactions that have marked a new psf-price high for the condo. Amongst these, the …

Hines, a global real estate investment, development and property manager, recently announced the acquisition of five new multi-family properties in Japan. Spanning 100,107 sq ft and containing 290 units, these new assets were acquired by Hines Asia Property Partners (HAPP), the firm’s flagship commingled Asia Pacific core-plus fund. This brings the total number of multi-family rental assets in HAPP’s portfolio to 16.

Japan’s multi-family rental market is recognized as an attractive option due to its resilient income, stable yields, and attractive risk-adjusted returns. The five properties Hines recently purchased are located across Tokyo and Kyoto, in prime locations with easy access to the main CBDs.

The properties are managed under Hines’ Cavana brand, and have sustainability initiatives such as tenant engagement schemes to encourage conscientious conservation. This acquisition is part of their “living aggregation strategy”, which aims to expand the value of their assets by up to a billion dollars …

The Asimont Lane estate, a freehold landed development located in District 11 is up for sale by public tender at a guide price of $145 million. Composed of 21 three-storey strata terrace houses, the properties have a total strata floor area of approximately 111,644 sq ft, including voids and PES (Private Enclosed Space). The site also has dual frontage along Asimont Lane and Barker Road and is zoned for “residential” use within a designated landed housing area.

Jeremy Rikas and Allen Loo, Group Division Directors at ERA Realty, are marketing the properties. The site can be redeveloped into 19 luxury terraced houses, four detached houses, eight semi-detached houses, or eight detached houses.

The site is a few minutes away from Anglo-Chinese School (Primary) and Anglo-Chinese School (Barker Road). The Newton MRT Station, part of the Downtown and North-South Lines, is also nearby and within walking distance.

Further amenities such as …

HK edges ahead of Singapore as business hub: StudyHong Kong has the edge over Singapore as a business hub, providing a richer financial industry and talent pool while Singapore takes the lead in terms of technology and ESG (environmental, social and governance) initiatives and green building, according to a study released by property consultancy CBRE on Tuesday.

The report found that Hong Kong had the overall advantage across seven broad categories, coming out on top in three: the scale of its financial industry, its availability of talent and its ample supply of office space. Singapore, meanwhile, took the honours in two areas: the scale of its technology industry and its efforts in ESG initiatives and green building.

As a business hub, the study pronounced Singapore’s economy more diversified than Hong Kong’s, as the service sector in Hong Kong, including financial, insurance and trading, accounts for more than 90 per cent …

Record-breaking psf prices have been recently registered for the sale of residential properties in prime District 10 of Singapore. A 1,109 sq ft, three-bedroom unit at boutique project Jervois Prive on Jervois Road was sold for $3.57 million ($3,220psf) on April 17, which marks the highest psf-price among condos for the week of April 14 to 21. The unit exceeded the previous record in Jervois Prive, which was for a 710 sq ft two-bedroom unit on the fifth floor, which had been sold for $2.13 million ($3,000 psf) on Feb 12.

The unit at Jervois Prive hit a new record-breaking psf-price for the development, located on a freehold site in District 10. Midas Land’s maiden project is a 43-unit boutique development which is surrounded by upscale condos and the Chatsworth Park Good Class Bungalow Area. Nearby schools include Alexandra Primary School, Crescent Girls’ School, and Queenstown Secondary School.

The units …

Sevens Atelier, a Singapore-listed company, is currently acquiring an industrial building located at 60 Bendemeer Road. An announcement was filed with the Singapore Exchange on May 2nd where Sevens Creation (SC), a wholly-owned subsidiary of the company, was granted the option to purchase the property until May 23rd.

The 99-year leasehold, single-storey building has a total land area of 4,402 sq ft, with a remaining lease of 40 years and 10 months. Zoned by URA as “light industrial usage”, the property is currently occupied by the vendor Olympia Engineering. It is a Singapore-incorporated entity that deals with the trading and exporting of ISUZU automotive spare parts in Singapore.

JCUBE, located in Jurong East, is set to make way for redevelopment of a 40-storey mixed-use condominium and commercial development, JCube Condo Residence, which is estimated JCube Residence to launch in 2023. The move is part of the government’s plans for the …

Zhaolim Building, a six-storey high-specification industrial building located at 115 Eunos Avenue 3, is up for sale at a guide price of $60 million. The property has an 83,071 sq ft plot of land with a gross floor area (GFA) of 207,678 sq ft. The land has a 60-year lease, with 17 years remaining from the commencement date of Feb 1, 1980.

Redeveloped in 2015, the building is designed to receive ample natural lighting, boasting a high ceiling and large and regular floor plates. The typical floor plate measures 43,000 sq ft with an average floor-to-ceiling height of 7m. Additionally, the building has large passenger and cargo lifts, as well as a childcare centre and outdoor sky garden at Level 2.

Located within walking distance of Paya Lebar MRT Station, Zhaolim Building has easy access to both the East-West and Circle Lines. It is also well-connected to the Pan Island …

The tender exercise for the Vanda Crescent strata bungalows closes at 3pm on June 10, 2023.

Four freehold strata bungalows located off Dunearn Road in the Bukit Timah area of District 11 will be put up for sale on May 3 via a private treaty, with a guide price of $33 million, or $2,690 psf on the land area.The properties are located near the Eng Neo Avenue and Raffles Park Good Class Bungalow (GCB) areas. With the owner looking to sell them jointly, the four bungalows share a common compound and have a combined built-up area of 19,353 sq ft and a land area of 12,264 sq ft.

Each house has five en suite bedrooms and its own lap pool and basement level. The properties are currently rented out and will be sold with tenancies.

Head of Investment and Collective Sales at PropNex, Tracy Goh, said that the sale of …