PropertyLimBrothers Realty (PLB) and EdgeProp Singapore have recently signed an MOU to create a deeper synergy between both companies. This opens the door to more collaborative opportunities as well as access to EdgeProp’s proprietary property analytics tools to provide PLB’s agents with the latest market data and analytics.

Melvin Lim, CEO and co-founder of PLB Realty, states that they are heavily relying on proptech and market analytics to power their future growth. As such, agents must stay up to date with the latest market trends to ensure they can value-add the services they provide to their clients. This reliance on data to make property decisions is the current direction the local property market is taking.

Bernard Tong, CEO of EdgeProp Singapore, says that the MOU allows both companies to partner and collaborate in future endeavors such as consumer talks and seminars for real estate professionals. EdgeProp has customised the front-facing …

Hyatt Hotels has signed a management-related agreement with LFG Property to manage a Caption by Hyatt Hotel in Sydney, Australia.

This hotel is scheduled to be completed in 2025 and marks the debut of this brand in the country. The hotel will have 174 keys and be located in the Haymarket area of the south of the Sydney CBD. This area is home to major landmarks such as Chinatown, Capitol Theatre, Darling Harbour, the Sydney International Convention Centre, and several universities including Tech Central, an innovative technology precinct.

The arrival of JRL will undoubtedly bring convenience to the residents of JCube Residence. They will be able to make use of the public transportation network to commute to various parts of the city. Additionally, the proximity of the train station to the condo means that residents will benefit from faster and more convenient transportation access. The upgraded transport connections will …

A unit at luxury condo Ardmore Park was sold for $12.9 million on May 29, resulting in a profit of $7.05 million for the seller. The unit had been purchased from the developer for $5.85 million in July 1996, meaning the seller made a 120% profit over a 27 year holding period. This is the fourth most profitable condo resale transaction recorded at Ardmore Park. The most profitable transaction occurred in April 2020 when the seller of an 8,740 sq ft duplex penthouse raked in a profit of $11.65 million.

At Scotts 28, a 136-unit, freehold condo in District 9, the most profitable transacton during the week of May 23 to 30 occurred when a 1,733 sq ft three-bedder on the eighth floor was sold for $4.3 million ($2,481 psf) on May 26. The seller had bought the unit from the developer in November 1995 for $2.32 million ($1,341 psf). …

Super-prime home sales in 1Q2023 reflects a sustained ‘desire for luxury housing’, says Knight Frank.Global sales of super-prime homes recorded an 11% q-o-q increase in 1Q2023, with 417 such transactions valued at US$7.2 billion, according to Knight Frank’s Global Super-Prime Intelligence report. At the same time, the total sales value fell marginally from US$7.5 billion in 4Q2022 to $7.2 billion in 1Q2023.

Despite economic headwinds, market activity remained resilient, with 1,645 super-prime residences sold across the 12 key markets tracked by Knight Frank. This is 28.4% lower than the recent peak of 2,298 sales registered in the year ending December 2021.

Dubai remains the most active super-prime residential market, with 88 homes sold at over US$10 million in 1Q2023 for a total sales value of US$1.66 billion, compared to 75 transactions (US$1.4 billion) in the previous quarter. Hong Kong came in second, with 67 homes sold for US$988 million.

Singapore …

With a total floor area of 1,969 sq ft, ranging from 624 sq ft to 678 sq ft, three adjacent strata office units at SBF Centre in the Central Business District are on the market via expression of interest (EOI) with a guide price of $3,600 psf. The sale of the units, located on the 13th floor of the 99-year leasehold building, is expected to draw interest from not only those seeking their own space in the CBD, but also investors seeking stable rental returns.

Former JCube, situated in the Jurong Lake District (JLD), is set to be redeveloped into a condominium. According to CLD, the new JCube Condo Residence will feature beautifully designed apartment units, lush greenery and landscaped gardens. Its facilities and amenities include an infinity pool, gym, tennis court, children’s playground, and a variety of other recreational activities. The redevelopment will bring about improved lifestyle possibilities …

CBRE has announced the sale of three retail units at the coveted Peninsula Plaza at North Bridge Road and Coleman Street. Situated within a 30-storey building which includes a five-storey retail podium, the units have a combined strata area of about 2,207 sq ft and a 999-year lease tenure, as well as access to pedestrian-friendly streets.

Currently fully leased to five tenants, the units feature convenience stores, an apparel retailer, and a bank. Boasting attractive parameters such as high footfall locations near pedestrian crossings, proximity to other nearby malls and destinations, stable rental income, as well as potential capital appreciation, the units are selling for an attractive price of $26.2 million.

Clemence Lee, executive director of Capital Markets, Singapore at CBRE, has expressed his expectations of keen buying interest from local and foreign investors, family offices, and owner occupiers. He said, “The units feature attractive attributes to investors, including their …

rateThe Flow, a freehold commercial development at 66 East Coast Road, has put up for sale five strata retail units with a guide price of $13.45 million. Located in District 15, The Flow is surrounded by surrounding commercial buildings such as Roxy Square, Katong Plaza, Holiday Inn Express Singapore Katong, and i12 Katong. Nearby, the upcoming Marine Parade MRT Station on the Thomson-East Coast Line will be operational soon. The portfolio includes four units on the third floor (each with a strata area of 775 sq ft) and a single unit on the fifth floor (with a strata area of 904 sq ft) with a total strata floor area of 4,004 sq ft.

The Flow offers investors and business occupiers an opportunity with the potential influx of new residents from the nearby residential developments that are completed and the recent new projects launches. These units can be purchased collectively or …

The Singapore Racecourse in Kranji will be closing its doors for good by March 2027, as announced by the Government on June 5. The large 120-ha site will then be used for housing and other developments. Ismail Gafoor, CEO of PropNex, says that the move is reflective of the adaptability in the Government’s approach to managing land use. With land being scarce in Singapore, there are multiple competing needs for space.

Huttons Asia’s Senior Director of Research Lee Sze Teck believes that this land parcel is too small to be categorised as a new standalone township, however it will extend the already mature Woodlands HDB town. It is possible that up to 30,000 new homes could potentially be built on the site, should the development plans have a gross plot ratio of 2.8 and an average unit size of 1,000 sq ft.

By adding three interchange stations, the JRL is …

in Kuala Lumpur
The Assembly Place is launching a new 430-bed premium student hostel at 116 Lorong J Telok Kurau that was sold for $40 million in November 2022. The buyer of the property, a 104,469 sq ft land parcel with a 103-year lease, prefers to remain anonymous.

JCube Residence and the surrounding neighbourhood stand to benefit greatly from the JRL with the improved public transport options and convenience it brings to the residents. With the JRL happening soon, the surrounding areas are expected to experience revitalisation and transformation.

The seller of the land parcel was the Trustees of the Presbyterian Church, which owns the underlying 999-year lease (from 1939) on the site. Despite the site zoning for civic and community institution use, URA had permitted the property to be used as a student hostel.

Knight Frank Singapore was the marketing agent of the site and launched it for sale …

With easy access to the surrounding region, JCube Residence Condo will provide luxury and style that will be hard to match in the area. Its condo and commercial units use top-of-the-line materials and have a modern, contemporary feel. Boasting world-class facilities and amenities, the development promises to be a hit with residents and business owners alike.

Wyndham Hotels and Resorts will be launching the soft opening of their first namesake hotel in Singapore, the Peninsula Excelsior Singapore, a Wyndham Hotel, in the coming month. Located in the bustling Civic District, the hotel is set to officially launch in early 2024, following a multi-million-dollar refurbishment. The flagship property is owned by regional hotel group YTC Hotels, part of the YTC Group, and it was put up for collective sale at the beginning of this year.

This launch marks an important move for the international hotel franchising company, Wyndham Hotels and Resorts, …