Savills Singapore Property Digest 14 February 2011

[Keegan Aw @ Savills, SG]

 

Keegan Awyang

Division Head

(K-Group)

Savills Residential Pte Ltd

CEA Reg. No.: R029192J

Mobile: 8382-6838

 

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From: Savills Singapore Newsletter [newsl...@savills-asia.com]
Sent: Monday, February 14, 2011 1:16 PM
To: Keegan Aw @ Savills, SG
Subject: Savills Singapore Property Digest 14 February 2011

Singapore Property Press Digest 14 February 2011 Property Search Property Showcase Services Research News About Savills Press Digest SINGAPORE STOCK MARKET: STRAITS TIMES INDEX CLOSE: SINGAPORE INTEREST RATE: PRIME RATE: 3-MTH SIBOR: 11 February 2011 3,077.27 (-26.12) 11 February 2011 5.38% 0.44%       Peace Centre and Peace Mansion up for S$700 million collective sale - The Edge (Pg CC2) The Edge reported on the launch for collective sale the mixed commercial and residential development encompassing Peace Centre and Peace Mansion at 1 Sophia Road by tender. The indicative price S$700 million or S$1,355 per sq ft per plot ratio (psf ppr). Savills is the appointed marketing agent.       Overseas properties come a calling - BT (Pg L2 & L3) Spurred by the strength of their currencies, more Asians are now turning to buying properties overseas. London, in particular, is proving to be a magnet. “Now is the best time to buy into prime London properties,” says Julian Sedgwick, Director of Savills Asia Pacific, adding that a combination of capital appreciation upside based on currency play and current low borrowings and savings interest rates creates a potentially handsome overall capital appreciation.       Tuan Sing Holdings plans to expand its business in the real estate market - ZB (Pg 22) Tuan Sing Holdings is looking at expanding its real estate business. In a recent interview with Zaobao about the company’s future plans, its CEO revealed that the group intends to buy one- or two-years worth of land bank as it develops the properties and sell.       One Shenton unit fetches S$1,999 psf - The Edge (Pg CC6) One Shenton will be the latest residential development at Marina Bay to achieve completion, with the Temporary Occupation Permit (TOP) expected this month. In the week of Jan 18 to Jan 25, One Shenton saw 2 transactions at S$1,970 and S$1,999 psf, according to caveats lodged with URA Realis.       Older office buildings face up to the challenge - ST (Pg B16) Landlords of older buildings in the traditionally prime areas of Raffles Place and Robinson Road are not taking the emergence of new blocks in areas like Marina Bay lying down. Renovation works, ranging from simple upgrading to full-scale makeovers, are being undertaken to give ageing Grade A offices a smarter new face..       Mediapolis filing up slowly - ST (Pg B16) Commercial landlord Ascendas is bullish about the Mediapolis digital media industry hub, with more tenants signing on the dotted line. It was reported that Infinite Frameworks and GlobeCast have signed a 10-year lease at Mediapolis’ first building to occupy about 40 per cent of the 259,173 sq ft space. Rentals are about S$4 psf per month. For further information please contact: Jessie Yeo Michael Lim   Executive Director Consultancy & Valuation Savills (Singapore) Pte Ltd +65 6415 7580   Contact   Corporate Communications Manager Central Management Savills (Singapore) Pte Ltd +65 6415 7579  Contact     You are receiving this email because you have given your consent to receive email communications from Savills plc and its group of companies about new products and services we offer. If you wish to unsubscribe from future editions of this email bulletin please use the unsubscribe functionality below. Alternatively, if you wish to unsubscribe from all future Savills email communications please send an email to newsl...@savills-asia.com All content © copyright 2010 Savills. All rights reserved.

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