Elemeno Condo

Turquoise, the 91-unit luxury condominium at Sentosa Cove, is offering three duplex penthouses for sale at a price of $23 million. The largest penthouse is a five-bedroom duplex, covering 7,987 square feet in area. It is also the most spacious among the 10 penthouses located at the 99-year leasehold waterfront condo.

The penthouse comprises a wine cellar, a kitchen, and a living area, four en suite bedrooms, two utility rooms as well as a balcony on the lower level. The upper floor has a master bedroom suite that features a private infinity pool, pool deck as well as an outdoor shower. The penthouse is available for purchase at the price of $12 million which translates to $1,502 per square foot.

Another duplex penthouse listed for sale is a four-bedroom residence covering an area of 3,746 square feet that has an asking price of $5.99 million. This translates to $1,599 per square foot. The upper floor of this residence features a large open-air terrace that comes with a built-in Jacuzzi with unobstructed views of Sandy Island and Sentosa’s southern waterfront.

The last penthouse to be put up for sale is a 3,111 square feet, three-bedroom condo with a guide price of $5 million translating to $1,607 per square foot. All three penthouses are situated on the sixth floor and come with private lift lobbies, wet and dry kitchens, floor-to-ceiling windows, open balconies, as well as attached ensuite washrooms in each bedroom.

Resident amenities at the condo include a gym, barbecue pits, a swimming pool, a steam room, as well as 21 private berths for residents. The 99-year leasehold waterfront condo was completed in 2010 and boasts of 91 units split into three 6-story blocks. Most of the units in the condo are a mix of three- and four-bedrooms. The four-bedroom units range from 2,088 square feet to 2,573 square feet in size while the three-bedrooms vary from 2,400 square feet to 3,050 square feet in size. The penthouses have sizes ranging from 3,111 square feet to 3,764 square feet while the sky villas cover 6,900 square feet to 7,987 square feet.

Ho Bee Land, the developer of Turquoise still owns the largest penthouse among the three that are available for sale. The 7,987 square feet, five-bedroom duplex is currently on the market for $12 million.

Based on the caveats from the Urban Redevelopment Authority (URA), the second-largest penthouse was acquired by a Korean citizen at the price of about $9.5 million in November 2007. The transaction translated to $2,545 per square foot when the project was initially launched.

Similarly, the three-bedroom duplex penthouse that covers 3,111 square feet was sold to an African national for $8 million which translates to $2,579 per square foot. This sale took place in December 2007 based on caveats that were then lodged.

According to Michele Cabasug, the senior associate VP at List Sotheby’s International Realty, foreign investors bought these waterfront homes with the aim of using them as holiday homes and also as an investment. The four-bedroom penthouse had been leased out before it was put up for sale and the most recent tenant had paid a monthly rent of $18,000. The tenant had leased the unit for two years starting from August 2020 to 2024. Cabasug adds that the current market rental rate for the property is still $18,000 which implies that a new buyer buying the unit at $5.99 million will enjoy a gross rental yield of 3.6% if he or she decides to lease it out.

The Sentosa Cove property market intends to purchase a primary residence, unlike in the past when most buyers were buying second homes. Cabasug said that the property market comprises mostly of empty nesters, retirees who look forward to a slower pace of life. Some potential buyers are also young families, some of who may own drivers to take children to school.

When contemplating an investment in Condos in Singapore, it is crucial to bear in mind the property cooling measures implemented by the government. Over the years, the Singaporean authorities have taken various actions to discourage speculative purchasing and maintain a steady real estate market. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those buying multiple properties. While these measures may initially affect the profitability of Condo investments, they ultimately contribute to the long-term stability of the market, creating a more secure environment for investing in Condos.

The Turquoise project was first launched in late 2007 with foreign nationals accounting for 59% of the buyers during the launch. Singaporeans accounted for just 25.6% of the buyers while PRs accounted for 12.8%. The most recent sale at the condo was to a company.

However, there has been a shift in buyer profiles with more locals buying the condo as their first-choice residential property. Singaporeans account for 57.4% of the transactions comprising 39 units while PRs account for 32.3% of the transactions involving 22 units. In comparison, foreigners account for only 8.8% or 6 units. According to Cabasug, two foreign owners at Turquoise are divesting their property after holding it for close to 18 years. “…The owner of the four-bedroom penthouse would lose about $3.5 million potentially while the owner of the three-bedroom penthouse would lose about $3 million.

Cabasug adds that the developer reduced prices of the properties in 2010, and last year the average price of units sold at the condo was $1,427 per square foot across 4 transactions. She adds that the property owners are divesting their property because they intend to pursue other investment options.

Read also: The Continuum sees new high of $3,091 psf

Change in buyer profile & more owner-occupiers

The current buyer profile at Turquoise has shifted with more buyers, especially domestic ones, looking to buy the properties as their primary residence. When the project was first launched, 59% of the buyers were foreign nationals while Singaporean nationals accounted for just 25.6% of the buyers. In contrast, the PRs accounted for 12.8% of the buyers while one of the units was purchased by a company.

Nevertheless, the buyer profile changed after the project was completed in 2010. Singaporean buyers now dominate the market with 57.4% of the transactions involving 39 units. On the other hand, PRs account for 32.3% of the transactions involving 22 units. Nevertheless, foreigners account for just 8.8% of the transactions involving 6 units.

The 2020 data shows a shift in buyers’ intentions who intend to live in the properties. Some of the potential buyers at Turquoise are either empty nesters, retirees, or young families. Cabasug adds that some are first-generation PRs or new citizens who find it comfortable residing in Sentosa due to the slow pace of life.

When Ho Bee started constructing Turquoise, it was a pioneer in developing Sentosa Cove. The developer also developed 200-unit The Berth by the Cove, followed by the 249-unit The Coast, the 151-unit Seascape, and 302-unit Cape Royale. Similarly, the developer was also involved in a joint venture with Malaysia-based developer IOI Properties Group to develop 302-unit Cape Royale. The bungalows at Coral Island and Paradise Island, the two of the four man-made islands at Sentosa Cove, were also developed by Ho Bee.…

The historic district of District 9 continues to attract buyers with its premium address and exclusive properties, as seen in the recent record-breaking price deals at The Botanic on Lloyd and The Cape. Meanwhile, the upcoming Tembusu Grand offers buyers the opportunity to secure a luxurious unit at a new price low. Tucked away in a quiet enclave, these freehold and 99-year leasehold developments offer a tranquil lifestyle in the heart of the city. With limited transactions at these sought-after developments, buyers can expect exclusivity and privacy. For those seeking a prestigious address and an attractive investment opportunity, The Botanic on Lloyd, The Cape and Tembusu Grand are definitely worth considering.

The Botanic on Lloyd, a freehold condominium, made headlines recently for achieving the highest psf-price among private non-landed developments. Its latest sale of a 2,056 sq ft, four-bedroom unit on the second floor for $5.13 million, or $2,493 psf, set a new price record for the period between Jan 3 and Jan 11. This represents a 6.6% increase from the previous record of $2,339 psf set in October last year.

This boutique development, completed in 2006, comprises 60 apartments and six townhouses. Featuring a mix of three- and four-bedroom units ranging from 1,485 sq ft to 3,584 sq ft, as well as three-storey townhouses with five bedrooms and two private parking lots each, The Botanic on Lloyd offers exclusivity and privacy with only an average of one transaction per year in the past decade. In fact, the last unit to change hands before the October 2024 sale was a 3,584 sq ft, four-bedroom unit that fetched $6.88 million ($1,919 psf) in January 2022, making it the most expensive unit sold at the condo by absolute price.

Another freehold boutique development, The Cape, also achieved a new price record during the same period. A 1,313 sq ft, three-bedroom unit on the 15th floor was sold for $3 million, or $2,284 psf, surpassing the previous record of $2,265 psf set in November 2012. Completed in 2014, The Cape offers one- to three-bedroom units ranging from 570 sq ft to 1,539 sq ft across a single residential block. Its average price has been on an upward trend in the past year, with only one unit sold in 2023 at a price of $1,920 psf and three units sold in 2024 at an average price of $2,128 psf.

Investing in a condo in Singapore has become an increasingly popular option for investors, both local and foreign. With its strong economy, political stability, and high standard of living, the city-state offers a promising environment for real estate investments. Among the various options available in Singapore’s real estate market, condos are particularly attractive for their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to consider, and necessary steps to take when looking to invest in a condo in Singapore. For a comprehensive list of Singapore projects, visit Singapore Projects.

On the other end of the spectrum, upcoming 99-year leasehold development Tembusu Grand set a new price low of $2,174 psf with the sale of a 1,399 sq ft, three-bedroom unit on the 20th floor for $3.04 million on Jan 11. This is slightly lower than the previous price low of $2,193 psf, which was set just two months earlier in November 2024. Launched in April 2023, Tembusu Grand has since sold 584 units at an average price of $2,444 psf. With its expected completion in 2028, Tembusu Grand presents an opportunity for buyers to secure a luxurious unit at a lower price point.

Located in prime District 15, Tembusu Grand offers a range of units from one- and two-bedroom apartments to five-bedroom units, spanning 527 sq ft to 2,691 sq ft. With its convenient location and luxurious facilities, this upcoming development is sure to attract buyers looking for a prestigious address and a worthwhile investment opportunity.

In conclusion, the recent price records set at The Botanic on Lloyd and The Cape, as well as the attractive prices offered at Tembusu Grand, highlight the enduring appeal of the historic district of District 9. With limited transactions and a tranquil lifestyle, these developments offer buyers a rare opportunity to own a prestigious and exclusive property in the heart of the city.…

In conclusion, purchasing a condo in Singapore can prove to be a lucrative investment choice with its promising demand, potential for capital appreciation, and attractive rental yields. However, it is crucial to conduct a thorough evaluation of various factors before making a decision. These factors include the location of the condo, financing options, government regulations, and current market conditions. Seeking professional advice and conducting proper research can help investors make well-informed decisions and maximize their returns in the dynamic real estate market of Singapore. Whether you are a local investor aiming to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, the condos in Singapore offer an attractive opportunity.

HDB resale prices saw steady growth in the fourth quarter of 2024, rising 2.6% compared to the previous quarter. According to data published by HDB on January 24, this marks the 19th consecutive quarter of price increase in the resale housing market. The overall price increase for the whole of 2024 was 9.7%, almost double the 4.9% increase registered in 2023.

The rise in resale prices in the last quarter of 2024 was slightly lower than the 2.7% increase recorded in the third quarter. According to Mohan Sandrasegeran, head of research and data analytics at SRI, the strong price growth seen throughout 2024 can largely be attributed to the limited supply of flats that reached their Minimum Occupation Period (MOP) during the year.

Out of the various types of flats in the HDB resale market, five-room flats saw the highest price growth in the fourth quarter of 2024. The average resale price for five-room flats jumped 2.2% to $754,097. Meanwhile, resale prices for four-room flats increased 2.2% to $652,544 in the same period.

The Central Area saw the highest increase in prices, growing 25.6%. The top five towns with the highest quarterly price growth were Toa Payoh (12.1%), Tampines (6.9%), Bishan (6.7%), and Bedok (6.1%).

A total of 285 HDB resale flats were sold for $1 million or more in the last three months of 2024. This brings the total number of million-dollar HDB resale transactions to 1,035 for the whole of 2024. More than 90% of these transactions occurred in mature estates, with the Kallang/Whampoa estate seeing the highest number of million-dollar flats changing hands at 156 units.

The transaction volume in the HDB resale market fell 21.1% from 8,142 units in the third quarter to 6,424 units in the fourth quarter. According to Lee Sze Teck, senior director of data analytics at Huttons Asia, seasonal factors such as the year-end holiday and festive season contributed to the decline in transaction volume. The lower interest rate environment may have also encouraged some buyers to move to the private residential market or the Executive Condominium (EC) market.

In addition, some prospective buyers may have opted to ballot for a flat in the October 2024 Build-to-Order (BTO) sales exercise, according to SRI’s Sandrasegeran. This BTO sales exercise saw HDB launch a record 15 projects comprising 8,573 flats under the new location-based classification framework. For the first time, singles were also allowed to buy two-room flexi BTO flats in all locations.

Despite the quarter-end lull in transaction volume, the overall resale transaction volume for 2024 increased by 8.4% compared to 2023. This marks the largest number of yearly resale transactions since 2021, when 31,017 flats were sold.

As per data compiled by Huttons Asia, the top five most popular HDB towns among buyers were Sengkang, Woodlands, Punggol, Tampines and Yishun in 2024. These estates accounted for around 35.9% of all HDB resales in the same period.

Looking ahead, approximately 6,976 flats are expected to reach the end of their MOP this year, a 41.6% decrease from 2024. Sandrasegeran attributes this to the fewer BTO flats being completed in 2020 during the Covid-19 pandemic.

In response, HDB has announced plans to launch over 25,000 new flats across three BTO sales exercises in 2025. This comprises 19,600 BTO flats and over 5,500 flats under the Sale of Balance Flats (SBF) exercise. The next SBF exercise will take place concurrently with the upcoming BTO sales exercise in February, where 5,000 BTO flats in Kallang/Whampoa, Queenstown, Woodlands, and Yishun will be offered.

About 4 in 10 of the 5,500 SBF flats will be offered next month are already completed. The substantial increase in public housing supply aims to address the growing demand for housing. About 3,800 units of the 19,600 BTO flats will be designated as Shorter Waiting Time (SWT) flats, offering wait times of less than three years.

Sandrasegeran predicts an increase in resale prices for 2025 ranging from 3.5% to 5.5%, with resale transaction volume between 26,000 and 27,000. However, Hutton’s Lee projects a more optimistic price increase of between 5% to 8% for the year.…

An opportunity presents itself for interested developers with the launch of an expression of interest (EOI) for a residential development site located at Jalan Naung. The site, which boasts a 999-year leasehold and spans 5,408 sq ft, is now open for offers with an asking price of $8.38 million.

Situated in a three-storey mixed-landed area, the land is well-suited for residential use and falls under the URA Master Plan 2019. This prime location, just off Upper Serangoon Road in District 19, offers a plethora of possibilities for developers looking to create a unique and desirable living space. With an asking price of $1,550 psf on the land area, this valuable site is expected to garner strong interest from potential buyers.

Leading real estate agency Brilliance Capital, the sole marketing agent for the land, has highlighted the multiple development options available for the site. These include the potential for a detached house, a pair of semi-detached houses, or a strata mixed-landed development, subject to approvals from the relevant authorities.

The location of the site is another major draw, being within walking distance of Hougang MRT Station and Hougang Central Bus Interchange. In addition, popular lifestyle hubs such as NEX, Hougang Mall and Heartland Mall are just a short 10-minute drive away. Families with school-going children will also appreciate the proximity to various reputable schools, including CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School and Punggol Primary School, all of which are within a 1km radius of the site.

According to the founder and executive director of Brilliance Capital, Sammi Lim, the appeal of this vacant plot of land extends beyond just developers. “We anticipate strong interest from developers, ranging from boutique firms to larger setups, aspiring developers, and end-users looking to build their dream home,” she says. The fact that the land is owned by a single seller streamlines the acquisition process and promises a hassle-free transaction for potential buyers.

To summarize, purchasing a Condo in Singapore offers a wide range of benefits, including a high demand, potential for increased value, and attractive rental yields. However, it is crucial to carefully assess variables such as location, financing options, government regulations, and market trends. By conducting thorough research and consulting with professionals, investors can make well-informed decisions and maximize their returns in Singapore’s ever-evolving real estate market. Whether you are a resident looking to expand your investment portfolio or a foreign investor seeking a reliable and lucrative opportunity, purchasing a Condo in Singapore is a compelling choice. Condo

Lim adds, “It is indeed rare for such a plot to be made available for sale in the market, particularly one that offers various options and permutations for development, catering to different needs and preferences, including multi-generation development.”

Interested parties are invited to submit their offers by March 6 at 3pm, when the EOI exercise for this prestigious land parcel will close. Don’t miss this rare opportunity to own a prime piece of real estate and turn your development dreams into reality.…

When contemplating an investment in a condominium, it is essential to also evaluate the potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, rental yields for condos can vary significantly based on factors such as location, property condition, and market demand. It is generally observed that areas with high rental demand, such as those near business districts or educational institutions, offer better rental yields. To make an informed decision, conducting comprehensive market research and seeking advice from real estate agents can provide valuable insights into the rental potential of a particular condo. Additionally, checking out New Condo Launches can also help in evaluating potential rental yields.

Brilliance Capital, the sole marketing agent for a residential development site at Jalan Naung, has announced that the land is now up for sale via expression of interest (EOI) with an asking price of $8.38 million.

According to the URA Master Plan 2019, the 999-year leasehold land parcel, which is located off Upper Serangoon Road in District 19, is zoned for residential use within a three-storey mixed-landed area. The total area of the land is 5,408 sq ft and the asking price equates to $1,550 psf on the land area.

Potential buyers will have the opportunity to develop the site into a detached house, a pair of semi-detached houses, or a strata mixed-landed development, subject to approvals from the relevant authorities, as stated by Brilliance Capital.

The site boasts an excellent location within walking distance of Hougang MRT Station and Hougang Central Bus Interchange. Popular lifestyle hubs such as NEX, Hougang Mall and Heartland Mall are also within a 10-minute drive.

In addition, the site is surrounded by reputable schools within a 1km radius, including CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School and Punggol Primary School, making it an ideal location for families.

Mr. Sammi Lim, the founder and executive director of Brilliance Capital, believes that the vacant plot of land will attract strong interest from a range of developers, including boutique firms, larger setups, aspiring developers, and end-users looking to build their dream home. He also highlights the land’s rarity in the market, particularly due to its various options and permutations for development, catering to different needs and preferences, including multi-generation development.

The EOI exercise for the land parcel will close on March 6 at 3pm. As the vacant plot of land is owned by a single seller, the acquisition process is expected to be smooth and hassle-free for potential buyers. Interested parties are urged to submit their bids before the deadline.…

In the process of buying a Condo, it is imperative to consider the upkeep and administration of the property. Condos typically come with maintenance fees that are used for upkeep and the upkeep of communal areas and facilities. While these fees may add to the overall cost of ownership, they play a crucial role in maintaining the property’s condition and value. To ease the burden of managing the Condo, investors can enlist the services of a property management company, transforming it into a more hands-off investment. By partnering with a reliable Condo management company, investors can focus on other endeavors while their property is taken care of.

Radisson Collection has recently opened a lavish property in Galle, Sri Lanka, marking the luxury hotel brand’s first foray into the Southeast Asia and Pacific region. This new 106-key resort, known as the Radisson Collection Resort, Galle, is also the fourth hotel in Sri Lanka under the renowned Radisson Hotel Group.

The hotel boasts 76 elegantly designed guest rooms and suites, all of which offer breathtaking views of the sea. Guests can indulge in top-notch amenities including a beachfront pool, a kids’ club with 24-hour nanny services, and a variety of dining options such as Ozen – an Asian-Japanese fusion restaurant and Catch Restaurant – a seafood dining spot. For those looking for a more vibrant beach experience, the Taboo Beach Club offers a beachfront entertainment area with sun loungers and daybeds with bottle service.

Located on the beautiful southwest coast of Sri Lanka, Galle has plenty to offer for travelers looking to immerse themselves in the country’s rich history and culture. The city is home to the famous Galle Fort, a 17th-century fortress designated as a Unesco World Heritage site. Visitors can also explore the city’s historic temples, colonial structures, and wildlife centers, including a sea turtle hatchery.

As part of Radisson Hotel Group’s global expansion, this new property adds to the group’s impressive portfolio of over 100 hotels in India and marks its continued growth in the Southeast Asia and Pacific region. So if you’re planning a luxurious and culturally enriching vacation in Sri Lanka, look no further than the Radisson Collection Resort, Galle.…

Investing in a condominium in Singapore has emerged as a favored option for both native and international investors, thanks to the country’s thriving economy, steady political climate, and admirable quality of life. The real estate market in Singapore is brimming with various possibilities, with condos being particularly appealing due to their convenience, facilities, and potential for lucrative returns. This article aims to delve into the advantages, factors to keep in mind, and crucial steps to take when considering a condo investment in Singapore, with a focus on the latest Singapore Projects.

Meinhardt, an engineering consulting firm based in Singapore, recently inked a deal with Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN) to work together on digital and smart city initiatives in developing countries in the Asean region. In a press release on January 17, the two companies announced the signing of a memorandum of understanding (MOU) to jointly explore and deliver sustainable urban solutions.

Through this partnership, Meinhardt and JOIN aim to exchange knowledge and resources in order to advance innovative and sustainable urban solutions. JOIN, a Japanese public-private fund, specializes in supporting Japanese infrastructure exports. Meanwhile, Meinhardt is known for its expertise in integrated planning, design, and project management solutions. Together, they hope to make a significant impact in the Asean region.

The collaboration between the two companies is closely linked to the Memorandum of Cooperation (MOC) signed in November between Japan’s Ministry of Land, Infrastructure, Transport and Tourism and the Singapore Cooperation Enterprise. This MOC aims to promote the development of digital and smart cities in Asean and other regions.

By building upon this existing framework, Meinhardt and JOIN will have an opportunity to share information, identify synergies, and collaborate on projects from the early stages. This partnership will allow them to drive meaningful impact across borders and work towards the development of sustainable and smart cities in the Asean region.…

The last two projects that were delayed due to the pandemic have finally been completed, according to Minister for National Development Desmond Lee’s announcement on January 20.

The two Build-to-Order (BTO) projects, Punggol Point Cove (Phase 2) and Kempas Residences, are the final housing projects from HDB that were affected by the pandemic. These two projects, along with 92 others, have delivered over 75,800 new flats to Singaporeans over the past five years.

In 2024, HDB completed a total of 22 housing projects, out of which, 17 were delayed due to the pandemic. The remaining four projects were completed on time, barring one that was delayed for non-pandemic reasons.

The 22 projects included two Shorter Waiting Time (SWT) projects, which were completed within a waiting period of less than three years. Parc Glen at Tengah and Grove Spring at Yishun, comprising a total of 1,995 flats, were the SWT projects.

The other projects had waiting periods of up to five years. Overall, HDB delivered over 18,000 flats in 2024.

Residents of Punggol Point Cove (Phase 2) have been receiving their keys since November 2024, while key collection for Kempas Residence started in mid-January this year.

HDB is expected to inform the remaining flat owners of their key collection date soon, following the completion of the final blocks within both projects this month.

Located along New Punggol Road, Punggol Point Cove (Phase 2) comprises 1,179 units of two-room flexi, three-, four- and five-room flats across six residential blocks. Due to the pandemic delays, the project’s last block was completed 12 months later than its original Probable Completion Date (PCD).

As of January 15, 657 households, or 59% of the 1,109 booked units, have collected their keys.

HDB states that with the completion of Punggol Point Cove (Phase 2), all flats in the Punggol Point District have been completed. This includes Punggol Point Cove (Phase 1), Punggol Point Woods, and Punggol Point Crown BTO projects, which were completed in 2024.

Located between Serangoon Road, Lavender Street, and Boon Kheng Road, the Kempas Residences BTO project has 583 units of two-room flexi, three-, four-room flats across four residential blocks.

The final block, which experienced a delay of six months from its original PCD, was completed in mid-January.

Investing in a Singapore Condo has numerous advantages, one of which is the opportunity to leverage the property’s value for further investments. Condo owners can utilize their property as collateral to secure additional financing for new investments, allowing them to expand their real estate portfolio. While this approach can potentially increase returns, it also comes with risks. It is essential to have a solid financial plan in place and carefully consider the potential impact of market fluctuations. Therefore, investing in a Singapore Condo requires careful consideration and strategic planning to maximize its benefits.

As of January 15, 37 households, or about 7% of the 555 booked units, have collected their keys.

Currently, 110 HDB housing projects are under construction, up from 95 a year ago due to the increase in BTO supply in recent years. HDB is on track to complete around 17,000 flats across 27 projects in 2025.…

City Developments Limited (CDL) is making a proposal to acquire all the outstanding shares it does not currently own in New Zealand-listed Millennium & Copthorne Hotels New Zealand Limited (MCK). The offer, which is valued at NZ$2.25 ($1.72) per share, aims to simplify the ownership structure of the group’s New Zealand entities.

According to a Jan 20 filing, CDL’s wholly-owned subsidiary, CDL Hotels Holdings New Zealand Limited (CDLHH NZ), plans to delist and privatize MCK following the completion of the offer. MCK currently owns, leases, or has under franchise 18 hotels in New Zealand and has a majority stake in CDL Investments New Zealand Limited, as well as interests in properties in Australia through its Kingsgate Group subsidiaries.

Singapore’s cityscape is defined by skyscrapers and contemporary infrastructure. These urban features are often accompanied by high-end condominiums situated in desirable locations, providing a desirable mix of opulence and convenience for both locals and foreigners. These luxurious properties boast an array of facilities such as swimming pools, fitness centers, and professional security services that elevate the standard of living and make them highly desirable for potential residents and purchasers. For investors, these perks equate to lucrative rental returns and continual appreciation of property values over time. Keeping up with the trend, new condo launches in Singapore offer even more modern and lavish options for those seeking the ultimate urban living experience.

As of Jan 17, CDLHH NZ holds 80.02 million shares in MCK, which represents a 75.86% stake based on 105.48 million MCK shares in issue. If CDLHH NZ reaches the threshold to invoke the compulsory acquisition provisions of the New Zealand takeovers code, it will acquire all outstanding shares in MCK. CDLHH NZ may also choose to redeem the non-voting redeemable preference shares issued by MCK.

The offer does not include MCK’s non-voting redeemable preference shares, but CDLHH NZ has expressed its willingness to acquire them at NZ$1.70, or approximately $1.30 per share. The shares will be purchased through a broker, Craigs Investment Partners, on the Main Board of the New Zealand Stock Exchange (NZX). As of Jan 17, CDLHH NZ holds 91.34%, or 48.17 million, of MCK’s non-voting redeemable preference shares.

If all of MCK’s shareholders accept the offer, the total consideration paid by CDLHH NZ will be NZ$57.29 million. Additionally, the group expects to pay around NZ$7.77 million to acquire all of the non-voting redeemable preference shares. The offer price takes into account the current and historical market price, as well as the industry and business environment in which MCK operates.

As of June 30, 2024, MCK recorded a net asset value (NAV) of NZ$532.02 million and a net tangible asset value (NTA) of the same amount for the 1HFY2024. The NAV and NTA attributable to the MCK shares subject to the offer are approximately NZ$85.62 million each.

The offer is subject to certain conditions, including CDLHH NZ receiving 90% or more of the voting rights in MCK by 5pm on May 2. It is also conditional upon CDLHH NZ obtaining consent under the Overseas Investment Act 2005 and the Overseas Investment Regulations 2005 of New Zealand to own and control all the shares in MCK.

The implementation and payment of the offer are not expected to significantly impact CDL’s earnings per share (EPS) or net tangible assets (NTA) for the 2025 fiscal year ending on Dec 31.…

Understanding the rules and regulations surrounding property ownership in Singapore is crucial for international investors. Unlike landed properties, which have more stringent ownership guidelines, foreigners are generally permitted to purchase condos with fewer restrictions. However, foreign buyers are required to pay an Additional Buyer’s Stamp Duty (ABSD) of 20% for their first property acquisition. Despite this extra expense, the reliability and potential growth of Singapore’s real estate market remain highly appealing to foreign investors. For those interested in investing in Singapore, it is important to note the regulations and fees associated with purchasing a condo.

Teo Hong Lim, the executive chairman of Roxy-Pacific Holdings, revealed a promising start to the launch of Bagnall Haus, a freehold condominium, on January 18. Out of the total 113 available units, 71 were sold, translating to a sales rate of almost 63%. The average price per square foot (psf) was recorded at $2,490.According to Teo, the majority of the buyers were Singaporeans, making up more than 90% of the total. He further explained that most of these buyers were end-users with varying financial capabilities. The sales were evenly distributed across all unit types, with two- and three-bedroom units being the most popular. However, there was also significant demand for the larger five-bedroom units.Located in District 16 along Upper East Coast Road, Bagnall Haus sits on a freehold 74,280 sq ft site and consists of three five-storey blocks with a total of 113 residential units. The units are available in various sizes, with the smallest being a one-bedroom plus flexi unit at 495 sq ft and the largest being a five-bedroom unit at 1,528 sq ft.Get the latest updates on new launches and view transaction prices and available units by searching for new launchesSponsoredIsmail Gafoor, the CEO of PropNex, shared that out of the 71 units sold, 59% of them were one- and two-bedroom units, which were priced below $2.1 million. He further added that 18 out of the 20 three-bedroom units were also snapped up at prices ranging from $2.3 million to $2.7 million. The remaining units, which were the four- and five-bedroom types, were sold for an average of $3 million to $3.8 million.Gafoor believes that the pricing strategy, which mostly targeted the sweet spot of under $3 million, appealed to a majority of the buyers. He also highlighted that the average transacted price of $2,490 psf was an attractive offer for a well-located freehold development. Gafoor emphasized that potential buyers saw the value in the project, especially when compared to some 99-year leasehold new launches in the Outside Central Region (OCR) area like Chuan Park, which was launched in November 2024 at an average price of $2,579 psf. Moreover, he revealed that both the strata-titled shop units, measuring 172 sq ft each, on the ground floor of Bagnall Haus were also sold at $688,000 ($4,000 psf) each.Gafoor also revealed that the buyers were predominantly owner-occupiers, consisting mainly of homeowners of older landed properties looking for more manageable apartments and families from the neighborhood seeking to upgrade to a freehold property.Marcus Chu, the CEO of ERA Singapore, shared that homebuyers were attracted to Bagnall Haus due to its location near established amenities and reputable schools like Temasek Primary School, which is just within a 1km radius. He added that its proximity to the upcoming Sungei Bedok MRT Station, which will be an interchange for the Downtown and Thomson-East Coast lines, also played a significant role in the sales. Moreover, the development is within walking distance of the upcoming Sungei Bedok MRT Station, making it just one stop away from Bedok South MRT Station, which is part of an integrated transport hub that will feature a new bus interchange within the upcoming Bayshore precinct. The hub will also have a mixed-use development that combines retail and residential components.Mark Yip, the CEO of Huttons Asia, believes that the high demand at Bagnall Haus was due to pent-up demand, which has been growing for the past 15 years, especially since there hasn’t been any new project launched in the area. He also believes that the freehold tenure and its rare location right next to an MRT station were major factors that attracted buyers. Yip explained that buyers were keen on the project due to the potential of the upcoming transformation of the Bayshore precinct.Overall, the launch of Bagnall Haus has been promising, with its prime location, freehold tenure, and attractive pricing strategy attracting a significant number of buyers. Stay updated on the latest listings, prices, and available units at Bagnall Haus by searching for new launches.…