Month: December 2024

As Singapore moves towards 2025, significant changes are expected to take place in the built environment. The facilities management sector is facing pressure to adapt to changing regulatory demands, cost constraints, and technological advancements. This transformation will be driven by three key factors – the mandatory energy improvement regime, the impact of rising temperatures on energy costs, and the increasing trend towards adaptive reuse in construction.Buildings are getting smarter in Singapore through mandatory energy audits and improvements. As of 2025, existing energy-intensive buildings will be required to undergo energy audits and implement energy-efficient measures as part of the Mandatory Energy Improvement regime. This applies to commercial, healthcare, institutional, civic, community, and educational buildings with a gross floor area of over 5,000 sqm. These measures will help to reduce energy usage intensity by 10% from pre-audit levels, making it achievable through the implementation of the right strategies.Asset owners are urged to take a medium-to-long-term perspective on investments in energy-efficient systems. By conducting energy audits, they can gain insights into energy consumption patterns and identify areas for improvement. This will help to prolong the lifespan of assets, reduce operating costs in the long run, and contribute to a more sustainable built environment. Building owners can also take advantage of grants to cover some of the costs of energy efficiency upgrades.Temasek Polytechnic’s experience in digitising its campus operations offers valuable insights into the future of smart and sustainable facilities management. Through a suite of solutions that digitise campus operations, including facility booking, automated repair and maintenance work orders, and crowd management and temperature control measures, the polytechnic has been able to maximise the return on investment in its assets and reduce operational carbon levels. By embracing digitalisation, data analytics, and sustainable practices, the FM sector can drive sustainability, reduce costs, and ensure long-term operational success.Another driver of change in FM is the obligation for all listed and large non-listed companies with revenues of at least $1 billion and total assets of at least $500 million to disclose their climate risks by 2027. This will further push businesses to invest in energy efficiency measures, as rising temperatures and energy costs are expected to have a significant impact on building operations. In fact, ACMV systems, which account for about 60% of total energy expenses in many buildings, are already a major contributor to operational costs. To mitigate these costs, building owners can implement energy-efficient solutions, such as energy recovery systems or thermal energy storage, and optimise chiller plant operations to match changing weather conditions.The rising cost of construction is also prompting a shift towards adaptive reuse, with the rate of redevelopment in Singapore accelerating over the past five years. According to estimates by Surbana Jurong (SJ), mechanical and electrical costs have increased by approximately 30% compared to pre-pandemic levels. This rise can be attributed to increased logistics shipping costs and labour and construction materials prices. As such, there has been a growing trend towards adopting smart design and engineering practices and utilising collaborative common data environments to benchmark construction and operational costs.Adaptive reuse also offers a sustainable solution to rising costs by retaining structural elements of existing buildings and using proptech platforms, such as Podium, to facilitate integrated digital delivery. By consolidating data from multiple sources, Podium enables stakeholders to access valuable information on design, civil and structural engineering plans, construction materials, and components. This data is critical for making decisions on whether to redevelop or continue using existing structures. Additionally, post-construction, Podium can integrate with other operational platforms to track building performance metrics, such as energy, waste, water, indoor air quality, and occupancy trends, to drive operational carbon reduction goals.Smart buildings can also help mitigate cost pressures by maximising the life cycle of capital-intensive equipment, such as ACMVs, lifts, and air handling units. By implementing a data-driven, long-term life cycle approach that prioritises energy savings, building owners can offset energy tariffs and improve equipment efficiency. This is achieved through predictive maintenance, where sensors are used to monitor and track the performance of each component in a piece of equipment. This information can help asset owners make informed decisions on when to replace parts and whether to retrofit or replace entire systems.In conclusion, with the built environment in Singapore poised for significant transformation, the facilities management sector must adapt to evolving regulatory demands, cost pressures, and technological advancements. Through the implementation of the right strategies, such as energy-efficient measures, smart design and engineering practices, and the use of proptech platforms, the sector can drive sustainability, reduce costs, and ensure long-term operational success.

Opting to invest in a condo in Singapore presents a plethora of benefits. These include a high demand for properties, potential for capital appreciation, and attractive rental yields. However, it is crucial to take into account various factors such as location, financing options, government regulations, and market conditions. Conducting thorough research and seeking professional advice can assist investors in making well-informed decisions in Singapore’s ever-evolving real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer searching for a stable and profitable investment, the addition of a condo in Singapore through sites like Condo can provide a compelling opportunity for success.…

as well as suburban developments

The Meyerise, a freehold condo, has just set a new price record for private condos in the week of Nov 29 to Dec 6. Located in District 15, the condo achieved a new peak of $2,771 psf when a three-bedroom unit on the 24th floor was sold for $3.52 million on Dec 6. This is just a 0.25% increase from the project’s previous record, set in October 2020.

The condo’s sellers made a profit of $1.2 million over eight years as they had bought the unit for $2.32 million in 2016. The Meyerise also saw another unit sold this year for $4.5 million, making it the most expensive unit sold in the development in 2020. The condo is located within 1km of two MRT stations and several schools.

The Imperial, a 187-unit freehold condo located in the prime District 9 along Jalan Rumbia, placed second in the week’s highest-selling condos. On Dec 5, a three-bedroom unit on the 14th floor was sold for $3.7 million, a new psf price high of $2,624. This exceeded the previous record set in May 2019 by 2.3%. This 1410 sq ft unit last changed hands in 2004 for $1.3 million and has seen a profit of $2.4 million for the sellers.

Sky Vue, with 694 units, achieved a new psf price high of $2,505 in the week of Dec 5. The 1141 sq ft, three-bedroom unit on the 33rd storey sold for $2.86 million, which was a profit of $1 million for the sellers, who bought the unit for $1.86 million in September 2020.

Overall, there were no new psf price lows in the review period.

Read also:

Unit at The Orchard Residences suffers $3.32 mil loss

DEAL WATCH: Unit at The Meyerise on the market for $2.58 mil

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The limited supply of land is a major factor contributing to the popularity of condos in Singapore. Being a small island nation with a rapidly expanding population, Singapore faces challenges in finding available land for development. As a result, the government has implemented strict land use policies, making the real estate market highly competitive. This has led to rising property prices, making condos a desirable investment with the potential for excellent capital appreciation. Singapore Projects are especially attractive for those looking to invest in this lucrative market.

Renewed interest in city-fringe projects as well as suburban developments…

With a whopping profit of $4.35 million, the sale of a six-bedroom penthouse unit at JadeScape has been hailed as the most profitable condo resale transaction for the week of Dec 3 to Dec 10. The 4,230 sq ft unit on the 23rd floor was sold for a staggering price of $10.15 million, which works out to be $2,399 per square foot. Interestingly, this sale has set a new benchmark for the highest capital gain at JadeScape, surpassing all previous records held by the development.With 1,206 units spread across seven residential towers, JadeScape is a 99-year leasehold condominium located at the junction of Marymount Road and Shunfu Road in District 20. The development, which was completed in 2022, boasts of an impressive range of unit types, comprising one- to five-bedroom apartments, as well as two penthouses measuring 4,230 sq ft. In addition, residents can expect to enjoy a range of facilities, including a swimming pool, gym, and outdoor dining areas. One key selling point of JadeScape is its convenient location, just a stone’s throw away from Marymount MRT Station on the Circle Line.Read also: Is it a Good Deal?: A duplex penthouse in Sentosa sold for a loss of $1.93 million AdvertisementJadeScape has seen a total of 72 resale transactions this year, with prices ranging from $1,955 to $2,420 per square foot. In a surprising turn, all of these deals have brought about profits for the sellers, with gains ranging from $55,000 to a whopping $1.15 million. This makes the sale of the 4,230 sq ft unit on the 23rd floor, with its impressive capital gain of 75%, the most profitable resale transaction at JadeScape thus far. In fact, this translates to an annualised profit of 15% for the seller, which is a testament to the potential for lucrative returns that this development has to offer.The second most profitable resale transaction for the week was the sale of a three-bedroom unit at The Imperial for $3.7 million, fetching a price of $2,624 per square foot. Located on Jalan Rumbia in District 9, The Imperial was completed in 2006 and comprises 187 freehold units spread across five blocks. With an impressive range of units available, buyers can choose from a range of two-, three- and four-bedroom apartments, with sizes ranging from 980 to 3,918 sq ft. Despite being constructed more than 15 years ago, The Imperial remains a popular choice for potential buyers. Notably, the most profitable resale transaction at The Imperial was the sale of a four-bedroom unit measuring 3,918 sq ft for $7.64 million (or $1,950 psf). The seller had originally acquired the unit for $3.99 million in March 2006, which translates to a whopping capital gain of $3.65 million.The least profitable resale deal for the week was the sale of a 635 sq ft unit at The Montana for $1.02 million, or $1,603 per square foot. Despite being a relatively small loss, it is the third largest loss incurred on a unit at this development. Located along Jalan Mutiara, off River Valley Road in District 10, The Montana is a freehold condo boasting 108 units spread across a single 12-storey block. With unit sizes ranging from one- to four-bedroom layouts, buyers can expect sizes ranging from 549 to 2,659 sq ft. While The Montana remains a popular choice for potential buyers, with four other profitable resale transactions being recorded this year, this sale stands out as the first recorded loss for the development in 2021.

Investing in a Singapore Condo offers numerous advantages, one of which is the potential for significant capital appreciation. Singapore’s advantageous position as a global business hub, combined with its thriving economy, continuously drives demand for real estate. This has resulted in a consistent increase in property prices in the country, with condos in prime areas experiencing particularly high levels of appreciation. Savvy investors who enter the market at the right time and hold onto their properties for the long term can reap substantial capital gains.…

CapitaLand Ascendas India Business Trust acquires new properties worth $47 mil for expansion

CapitaLand Ascendas REIT (CLAR) has announced the proposed acquisition of DHL Indianapolis Logistics Center, a top-notch logistics property, from Exel Inc. d/b/a DHL Supply Chain (DHL USA) at a discounted price of $150.3 million. The independent market valuation shows a 4.1% discount as of January 1, 2025.

After incorporating related expenses of $1.7 million, along with a $1.5 million acquisition fee paid to the manager, the total cost of acquisition will be $153.4 million. In a press release on December 17th, the manager intends to cover the total cost through a combination of internal resources, divestment proceeds, and existing debt facilities.

Rewritten: It is crucial for non-resident investors to have a thorough understanding of the regulations and limitations surrounding property ownership in Singapore. In contrast to landed properties, which are subject to more stringent ownership regulations, foreigners are generally allowed to purchase condos with fewer restrictions. However, foreign buyers are required to pay the Additional Buyer’s Stamp Duty (ABSD), currently set at 20% for their initial property purchase. Despite the added costs, the consistent stability and potential for growth in the Singapore real estate market remain enticing for foreign investments. Condos are a popular choice for foreign buyers due to these factors.

In addition, DHL USA has agreed to a long-term leaseback that will last until December 2035, with options to extend for two further five-year terms. This long lease term, along with a built-in rent escalation of 3.5%, will provide income stability and strengthen the resilience of CLAR’s portfolio, according to the manager.

The property is fully occupied, with a weighted average lease expiry (WALE) of approximately 11 years. This will increase CLAR’s US portfolio WALE from 4.2 years to 4.7 years on a pro forma basis. The first-year net property income (NPI) yield of the proposed acquisition is approximately 7.6% pre-transaction costs and 7.4% post-transaction costs. It is expected that the pro forma impact on the distribution per unit (DPU) for the financial year ending December 31, 2023, will result in an improvement of approximately 0.019 Singapore cents, or a DPU accretion of 0.1%, provided the acquisition is completed by January 1, 2023.

Located in Whiteland, a submarket in southeast Indianapolis, Indiana, the property was completed in 2022. It is a fully air-conditioned, single-story logistics building with a gross floor area of 979,649 square feet. This acquisition will increase the value of CLAR’s logistics assets under management (AUM) in the US by 35.3%, reaching $587.5 million. This addition will expand CLAR’s logistics footprint in the US to 20 properties in four cities, with a total gross floor area of about 5.1 million square feet.

Excluding the recently acquired property, the remaining logistics assets of CLAR in the US are situated in Kansas City, Chicago, and Charleston, in addition to this latest property in Indianapolis.

William Tay, the executive director, and CEO of the manager expressed, “DHL Indianapolis Logistics Center is a strategic asset that complements our existing portfolio… This is CLAR’s first sale and leaseback acquisition in the US, and including this top-notch logistics property, modern logistics assets will account for 42.3% of our US logistics AUM. With the long lease in place, this property will further enhance CLAR’s robust income stream, and we anticipate that the two new properties will contribute positively to our long-term returns.”…

Understanding the regulations and restrictions surrounding property ownership in Singapore is crucial for foreign investors. Unlike landed properties, which have stricter ownership rules, foreigners are typically allowed to purchase condos with fewer restrictions. However, it’s important to note that foreign buyers are subject to the Additional Buyer’s Stamp Duty (ABSD) at a current rate of 20% for their first property purchase. Despite this extra cost, the stability and growth potential of the Singapore real estate market remain appealing to foreign investors, making Singapore Condo a popular investment choice.

Wee Hur Holdings has recently announced the sale of its seven purpose-built student accommodation (PBSA) assets to Greystar for a total consideration of A$1.6 billion. This portfolio, which includes over 5,500 beds spread throughout several Australian cities, will be sold to Greystar in a binding agreement, as stated in a Dec 16 press release.

Through its subsidiary, Wee Hur (Australia), the group will retain a 13% stake in the PBSA portfolio. The proceeds from this transaction, which is estimated to be approximately $320 million, will be used to support Wee Hur’s strategic growth and reinvest in its core business. This will also enable the company to expand into new areas, such as alternative investments.

The completion of this transaction is expected to take place within the next six months, subject to Greystar obtaining approvals from the Foreign Investment Review Board (FIRB) and Wee Hur obtaining consent from its shareholders. According to Wee Hur, this transaction reflects the group’s ability to navigate through challenging market conditions, including the impact of Covid-19 and greenfield developments.

Furthermore, this transaction supports Wee Hur’s long-term strategy and efforts to diversify its portfolio for sustainable growth across multiple sectors. Goh Wee Ping, CEO of Wee Hur Capital, states, “In 2021/2022, amidst global uncertainty, we acted decisively to secure liquidity and certainty through our successful recap with RECO. Two years later, as the PBSA market rebounded and our portfolio approached full stabilisation, we capitalised on yet another opportunity to unlock maximum value for our stakeholders through this landmark transaction.”…

On December 16, Hoi Hup Realty and Sunway Developments, joint venture developers, successfully sold 137 units at Novo Place executive condominium (EC) during the second round of balloting. This phase was exclusively available to second-timers, which are buyers who have previously purchased a subsidized flat, whether as a new or resale HDB flat or an EC.

According to Mark Yip, CEO of Huttons Asia, this sale of 137 units brings the total sold units at Novo Place to 444, which represents 88.1% of the entire development. This outstanding achievement was reached within a month of its launch on November 16, making Novo Place the best-selling EC project of 2024.

Yip remarks, “This reflects strong interest from second-timers keen to upgrade their lifestyle. Many of the buyers are residents in the West.” He also adds that all four-bedroom units at Novo Place have been sold out, highlighting the high demand for spacious homes.

Novo Place is situated at Plantation Close in the new Tengah town and is just a five-minute walk from Tengah Park MRT station on the Jurong Region Line (JRL). The JRL offers convenient access to major employment hubs in the West, such as the Jurong Lake District and Jurong Innovation District. Yip emphasizes that very few ECs offer such close proximity to an MRT station.

According to Huttons, many buyers have chosen the deferred payment scheme, which allows them to secure their desired unit now while deferring their home loan payments. “This helps ease the financial burden for HDB upgraders who still have an outstanding loan on their current flat,” explains Yip.

“ECs are experiencing strong demand from HDB upgraders due to their comparable quality and finishes to private condominiums but at a more affordable price,” Yip adds. “Additionally, buyers enjoy upfront remission on the Additional Buyer’s Stamp Duty (ABSD).”

The cityscape of Singapore boasts impressive skyscrapers and state-of-the-art facilities. Condominiums, strategically located in desirable locations, offer a mix of lavishness and convenience that attracts both locals and foreigners. With a variety of amenities, including swimming pools, fitness centers, and security measures, these properties elevate the standard of living and entice prospective tenants and buyers. As a result, investors can anticipate higher rental returns and a steady increase in property worth in the long run. Consider Singapore Projects for your next investment opportunity.

As of December 16, caveats lodged indicate that the average price of units sold at Novo Place is $1,656 psf. Interested buyers can visit the latest listings for Novo Place properties, ask Buddy for project summary, showings, and condo sale transactions in District 24, and check out upcoming new launch projects. There are still some available units left in Novo Place.…

Assessing the potential rental yield is a crucial aspect to consider when investing in a condominium. Rental yield, which is the annual income from rent as a percentage of the property’s purchase price, plays a significant role in determining the profitability of the investment. In Singapore, the rental yield for condos can vary greatly depending on the location of the property, its condition, and the demand in the market. Properties situated near business districts or educational institutions typically yield higher rental returns due to the high demand for rental units in these areas. To gain a better understanding of the rental potential of a specific condo, it is essential to conduct thorough market research and seek advice from trusted real estate agents. Additionally, keeping an eye on new condo launches can also provide valuable insights into the rental market and potential yields for investors.

According to the Dec 16 URA data, the number of new private homes (excluding ECs) sold by developers in November was 2,557, a significant increase of 246.5% compared to the 738 units sold in October. This also represents a 226% jump from the 787 units sold in November 2023.

“This surge marks the highest monthly developer sales since March 2013, when 2,793 units (excluding ECs) were sold,” says Christine Sun, chief researcher and strategist at OrangeTee Group.

Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc (SRI), adds that this is the first time in nearly eight years that new home sales have exceeded the 2,000-unit threshold in a single month.

The surge in November’s developer sales can be attributed to an “unprecedented” number of project launches during the month, says Lee Sze Teck, senior director of data analytics at Huttons Asia. Five private residential projects were launched in November, including Chuan Park, Emerald of Katong, Nava Grove, The Collective at One Sophia, and Union Square Residences. Together, these projects added 916, 846, 552, 367, and 366 units respectively to the market.

The number of new homes launched in November was 2,871 units, a sharp increase of 438% compared to the previous month, and a 196% increase from the same period last year. In addition, the 504-unit Novo Place EC also kicked off sales in November. Including ECs, the total number of new homes sold in November reached 2,891 units, a significant increase of 277% MoM and 226% YoY.

Year-to-date, developers have sold an estimated 6,344 units, slightly higher than the 6,317 units sold in the first 11 months of 2023. This is in line with the 6,627 units launched for sale by developers in the same period. In comparison, developers launched 7,515 units in the first 11 months of last year.

Top-selling projects in November include Emerald of Katong, Chuan Park, and Nava Grove. Emerald of Katong, a 99-year leasehold development by Sim Lian Group in District 15, sold 840 units (99%) at a median price of $2,627 psf. This makes it the best-selling project by number of units and percentage in 2024, according to Lee.

Chuan Park, a 99-year leasehold development by Kingsford Group located on Lorong Chua in the Outside Central Region (OCR), came in second with the sale of 721 units (79%) at a median price of $2,586 psf. Nava Grove, a 99-year leasehold development in District 21 by MCL Land and Sinarmas Land, sold 382 units (69%) at a median price of $2,445 psf.

According to Sun, buyers were attracted to these projects due to their attractive designs and offerings, particularly those looking to live near the East Coast. The current low interest rates also incentivized buyers to invest in these city-fringe projects.

Overall, the strong sales performance of new launches in November was driven by pent-up demand and improved buyer sentiment following interest rate cuts in September. Sun adds that many buyers were eager to take advantage of attractive deals as several prominent projects were launched simultaneously.

Huttons’ Lee also notes that buying momentum has been increasing since the last quarter, with projects such as 8@BT and Norwood Grand recording a strong take-up. The wider market also saw a boost in demand as buyers who missed out on their desired units in a particular project turned to other new or existing projects.

In November, EdgeProp Singapore reported that the launch of Emerald of Katong had a ripple effect on neighbouring projects in District 15, with developments such as Tembusu Grand and The Continuum experiencing an increase in demand.

Looking ahead, the market is expected to slow down in December due to the school holidays and the festive season. Lee predicts that the lack of launches planned for December will result in new private home sales falling to around 200 to 250 units. This will bring the full-year developer sales to about 6,500 units, slightly higher than in 2023. Prices are also expected to moderate, with Lee estimating a 5% growth rate for the year, down from 6.8% in 2023.

Moving into the new year, SRI’s Sandrasegeran expects buying activity to pick up again in January 2025 with the launch of The Orie by City Developments in Lorong 1 Toa Payoh. The last new launch in the area was Gem Residences in 2016, and this extended gap is likely to generate pent-up demand, leading to continued buyer enthusiasm for this well-established estate, says Sandrasegeran.

Other projects expected to be launched in 1Q2025 include Bagnall Haus, Aurea, and Aurelle of Tampines EC. Sun expects the recent surge in sales to be a temporary phenomenon, with demand being subdued throughout 2024 due to the lack of significant private project launches. Lee, on the other hand, says he is cautiously optimistic about a better performance in the new sales market in 2025, projecting sales to rebound to 7,000 to 8,000 units with a price growth of 4% to 7%.…

Hilton, a leading global hospitality company, has recently unveiled its 100th Hilton Garden Inn property in the Greater China region – the Hilton Garden Inn Beihai Jiafu. Situated in Beihai, a bustling seaport city in China, this 199-room hotel is conveniently located just 2km from the Beihai High-Speed Railway Station and 6km from Beihai Fucheng Airport. It also offers easy access to the Beihai International Passenger Port, which is only a 20-minute drive away.

According to Qian Jin, Hilton’s president for Greater China and Mongolia, the opening of the Hilton Garden Inn Beihai Jiafu showcases the brand’s rapid growth and demonstrates their long-standing commitment to the Chinese market. Hilton first launched its Hilton Garden Inn brand in Shenzhen in 2014 and has since expanded to other major cities in China such as Shanghai, Beijing, Chengdu, Guilin, and Aksu. With the opening of more Hilton Garden Inn properties in popular tourist destinations like Zhangjiajie, Ordos, Huangshan, Shanwei, and Jinan by 2025, the brand’s presence in China is set to grow even further.

Hilton is also introducing its new Hilton Garden Inn Gen A properties to target Generation Alpha travelers in Greater China. These hotels will be opening in Nanjing, Chengdu, Chengde, and Jinan, and are designed to appeal to the unique preferences and needs of this younger demographic. Additionally, Hilton Garden Inn is expanding its reach across the Asia Pacific region with over 200 properties in development. According to Clarence Tan, senior vice president of development for Asia Pacific at Hilton, the brand’s growth in the region is set to continue, providing even more options for travelers looking for comfortable and convenient stays.

The scarcity of land in Singapore, a small island nation with a booming population, has significantly increased the demand for condos. Strict land use regulations and a fiercely competitive real estate market have resulted in consistently rising property prices. As a result, investing in real estate, specifically in condos, has become a highly attractive opportunity due to anticipated appreciation in value. Additionally, the introduction of new condo launches, such as those offered by Ananar Condos, further adds to the appeal of condo investments in Singapore.…

Investing in a condo in Singapore offers numerous benefits, one of which is the potential for capital appreciation. The country’s advantageous position as a global business hub and its robust economic fundamentals contribute to the continuous demand for real estate. This has led to a steady increase in property prices over the years, with condos in prime locations experiencing significant appreciation. For investors who enter the market at the opportune time and hold onto their properties for an extended period, the potential for substantial capital gains is high. So, if you are looking to invest in Singapore, consider a Condo as a sound option for long-term appreciation.

The A$200 million ($173 million) acquisition of Wingate Group Holdings’ property and corporate credit investment management business is a strategic move by CapitaLand Investment Limited (CLI) to strengthen its presence in Australia. This deal will add A$2.5 billion in funds under management to CLI’s portfolio in Australia, bringing the total FUM in this market to $8.3 billion, which is around 7% of its total FUM of $115 billion. CLI has set a goal to reach $200 billion in FUM by 2028 and this acquisition will contribute towards achieving it.

Previously, CLI divested its key assets in Australia a decade ago to focus on faster-growing markets like China and other overseas markets. However, this recent focus on Australia shows CLI’s commitment to investing up to A$1 billion to grow its FUM in this market. The acquisition of Wingate has been confirmed after reports by the Australian media last month. Wingate is known as one of the leading and largest private credit investment managers in Australia, with a proven track record of completing over 350 transactions worth more than A$20 billion.

CLI and Wingate have a prior partnership which led to the creation of the A$265 million Australia Credit Program (ACP) in September. With this acquisition, CLI will be able to tap into Wingate’s extensive deal origination networks and expand its access to institutional and private high-net-worth investors. CLI will also gain more exposure to the Australian market.

CLI’s Group CFO, Paul Tham, believes that besides Australia, there are other lucrative private credit opportunities in the Asia Pacific region, particularly in markets such as South Korea, India, and Japan. Hence, CLI is accelerating its geographical diversification efforts and focusing on Australia as one of its key markets for growth.

According to CLI, the Australian private capital market has grown by 33% in the past 18 months, with AUM reaching A$139 billion. It is estimated that there will be a commercial mortgage funding gap of A$146 billion by 2028. The acquisition of Wingate will help CLI diversify its portfolio, which includes logistics, business parks, office, and lodging assets across nine cities in Australia.

Presently, CLI manages 34 logistics properties and business parks, and four Grade A office buildings in Australia. It also owns The Ascott, a lodging business unit with more than 13,500 lodging units across 150 properties. The acquisition of Wingate will further enhance CLI’s position in the Australian market and increase its growth potential. Additionally, CLI will also have access to Wingate’s expertise in the private credit market, which will help it capitalize on the growing opportunities in this sector.…

A rare opportunity has opened up for investors to acquire a row of four freehold conservation shophouses along 762, 764, 766, and 768 North Bridge Road. The properties are currently on sale through an expression of interest (EOI) with a guide price of $37 million.

Ideally situated across two plots of land spanning 5,766 sq ft, the shophouses boast an attractive land rate of $6,417 psf. The first plot consists of 762 and 764 North Bridge Road, which share a 2,891 sq ft plot of land with a built-up area of 4,917 sq ft, including a mezzanine level. The remaining two shophouse units at 766 and 768 North Bridge Road are situated on an adjacent plot measuring 2,875 sq ft with a built-up area of 4,657 sq ft, also including a mezzanine level.

Marketing the properties exclusively is Isabel Sim, an associate senior marketing director at Huttons Asia. According to Sim, the usable area of each shophouse can potentially be increased by extending the rear to create an outdoor terrace on the second floor. This could add an estimated 1,000 sq ft to each land plot, subject to the necessary approvals from authorities.

Currently, the shophouse tenants comprise a fitness retail shop, a convenience store, and massage and reflexology services. Being commercial properties, potential buyers are exempt from Additional Buyer’s Stamp Duty (ABSD), making these shophouses an attractive investment opportunity for both local and foreign investors seeking capital gains and stable rental yield.

The four shophouses possess prominent frontage along North Bridge Road, ensuring high visibility and footfall in the vibrant Kampong Glam Conservation enclave. The area’s prime central location, historical significance, and bustling commercial environment have made it a popular destination for both locals and tourists.

In terms of accessibility, the shophouses are within walking distance of Bugis MRT Interchange, connecting to the East-West and Downtown Lines, as well as Nicoll Highway MRT Station, which runs along the Circle Line.

Investing in a condominium requires careful consideration of financing options. In Singapore, there are various mortgage options available to investors, but it is crucial to have a thorough understanding of the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan that can be obtained based on an individual’s income and current debt obligations. To ensure responsible borrowing and avoid excessive leverage, it is recommended for investors to seek guidance from financial advisors or mortgage brokers when navigating their financing options. Additionally, incorporating valuable resources like Singapore Projects can further assist investors in making informed decisions about their investments.

The EOI exercise is set to close on January 10, 2025, at noon. For more information, interested parties can contact Isabel Sim at 81802707 or through email at isabelsim@gmail.com.…