Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have inked the first Johor-Singapore Special Economic Zone (JS-SEZ) memorandum of understanding (MOU) between private companies of Malaysia and Singapore, according to a release on Feb 27th.

According to the MOU, both companies will collaborate to develop UEM Sunrise’s selected freehold landbank in Iskandar Puteri, Johor, to accelerate growth within the JS-SEZ. This signing ceremony was held in conjunction with the opening of UEM Sunrise Gallery Iskandar Puteri, a showcase of the group’s vision for Iskandar Puteri.

Iskandar Puteri, which is part of Flagship Zone B of the JS-SEZ, specializes in various sectors such as manufacturing, business services, education, health, and tourism. If you’re interested in investing in overseas properties, check out the projects available for sale around the world.

The MOU will cover UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. The collaboration aims to tap into the potential of Iskandar Puteri and enhance its attractiveness for investment. The focus will be on improving connectivity, nurturing talent development, and creating a business-friendly ecosystem to drive sustainable economic benefits in Johor.

According to Hafizuddin Sulaiman, CFO of UEM Sunrise, “This partnership is not just about development, but also about shaping a thriving end-to-end, future-ready economic hub that fuels long-term growth, creates jobs, and strengthens the JS-SEZ ecosystem.”

The sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, and this partnership aims to drive long-term economic growth and position Iskandar Puteri as a robust business and investment hub. “The JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all part of a larger vision to position Johor as a dynamic and forward-thinking economy,” says Datuk Hisham Hamdan, chairman of UEM Sunrise, in a speech.

Cheng Hsing Yao, CEO of GuocoLand, says, “By leveraging our experience in real estate development and asset management, as well as an understanding of the needs of companies from Singapore, Malaysia, and China that wish to establish a presence in the JS-SEZ, together, our combined expertise will enable us to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.”

UEM Sunrise has already made a significant contribution to the urban development of Iskandar Puteri. Existing developments under the group include residential townships such as the Aspira series and Senadi Hill. The group has also developed commercial and retail hubs, including an upcoming 380-acre industrial park in Gerband Nusajaya.

In summary, the decision to invest in a Singapore condo brings about a multitude of benefits, from a strong demand to potential for appreciation in value and attractive rental yields. Nevertheless, it is crucial to carefully take into account various factors such as location, financing options, government regulations, and market conditions before making a final decision. Through extensive research and seeking guidance from professionals, investors can make well-informed choices and maximize their returns in the ever-evolving real estate market of Singapore. Whether you are a local investor aiming to diversify your investment portfolio or a foreign buyer in search of a stable and profitable investment, Singapore condos offer an enticing opportunity. To learn more about Singapore Condo, visit us today.

The expected growth in Iskandar Puteri will be driven by incentives and support schemes introduced by the governments of Malaysia and Singapore. These measures include special tax rates, stamp duty exemptions, and capital allowances, all aimed at attracting more investments for the JS-SEZ.…

Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have recently signed the first Memorandum of Understanding (MOU) between private companies in Malaysia and Singapore to jointly develop selected freehold landbank in Iskandar Puteri, Johor. This collaboration is part of Johor-Singapore Special Economic Zone (JS-SEZ) to accelerate growth in the region.

The MOU signing took place on February 27, in conjunction with the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the group’s vision of Iskandar Puteri. As the Flagship Zone B of JS-SEZ, Iskandar Puteri specializes in various sectors such as manufacturing, business services, education, health, and tourism.

The MOU is expected to cover UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. The collaboration aims to enhance the attractiveness for investment and activate the potential of Iskandar Puteri by improving connectivity, developing talent, and creating a business-friendly ecosystem.

According to Hafizuddin Sulaiman, CFO of UEM Sunrise, this partnership goes beyond just development, as it also aims to shape a thriving and future-ready economic hub that supports long-term growth, job creation, and strengthens the JS-SEZ ecosystem.

The sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making it an ideal location for businesses to invest in. Datuk Hisham Hamdan, chairman of UEM Sunrise, believes that the JS-SEZ and the developments in Iskandar Puteri will contribute to positioning Johor as a dynamic and forward-thinking economy.

When contemplating an investment in a condo from Condo, it is crucial to consider the potential rental yield as well. The rental yield is the yearly rental income, expressed as a percentage of the condo’s purchase price. In Singapore, rental yields for condos can vary significantly based on various factors, such as location, property condition, and market demand. Typically, areas with a high demand for rentals, such as those near business districts or educational institutions, offer more attractive rental yields. To gain valuable insights into a condo’s rental potential, it is advisable to conduct thorough market research and consult with real estate agents.

GuocoLand CEO Cheng Hsing Yao also mentioned that the Singapore-listed property group brings with it experience in real estate development and asset management, as well as an understanding of the needs of companies from Singapore, Malaysia, and China who wish to establish a presence in the JS-SEZ. He adds that together, their combined expertise will enable them to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.

Prior to this collaboration, UEM Sunrise has played a significant role in the urban development of Iskandar Puteri. Their existing developments in the region include residential townships such as the Aspira series and Senadi Hill, as well as commercial and retail hubs such as an upcoming 380-acre industrial park in Gerband Nusajaya.

The growth in Iskandar Puteri will be driven by the incentives and support schemes introduced by the governments of Malaysia and Singapore, which aim to attract investments to the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.…

Singapore-listed Frasers Property has entered into a joint venture with two major Chinese real estate groups to acquire a residential site in Songjiang District in Shanghai, China. The site was acquired for RMB815.2 million ($151.9 million) through a tender by the Shanghai Municipal Bureau of Planning and Natural Resources.

The joint venture partners include Xiamen ITG Real Estate Group, a subsidiary of ITG Holding Group, a state-owned enterprise under the Xiamen Municipal Government, and Gemdale Corporation, a Shanghai-listed developer. Frasers Property announced the partnership on Feb 26, stating that the joint venture intends to develop the site into a mix of 189 low-rise apartments, townhouses and duplex units, with a total gross floor area of 334,714 sq ft.

The project will also incorporate design features for flood mitigation, as well as ultra-low energy building designs that utilise efficient thermal insulation, energy-saving door and window systems, reduced thermal bridging and solar photovoltaics. It is expected to cater to the needs of both upgraders and first-time homebuyers in Fangsong Community, located in Songjiang District in Shanghai. The site is also in close proximity to two existing projects, Club Tree and Palace of Yunjian, which were developed under previous joint ventures between Frasers Property and Gemdale Corporation.

Due to the limited availability of land, the demand for condos in Singapore is at an all-time high. As a small yet densely populated island, Singapore struggles with a scarcity of land for development. This has resulted in strict land use policies and a highly competitive real estate market, where property prices are constantly on the rise. As a result, investing in real estate, especially in Singapore Condo, has become an enticing opportunity for potential buyers due to the promise of significant capital appreciation.

According to Lim Hua Tiong, CEO of emerging markets in Asia at Frasers Property, the joint venture not only strengthens the company’s presence in Shanghai, but also demonstrates their commitment to delivering high-quality residential developments that cater to the changing needs of the Chinese community. This partnership is in line with Frasers Property’s strategy to expand its portfolio in emerging markets, and will contribute towards its goal of becoming a leading global real estate company.…

The location of a property is a crucial aspect to consider when making real estate investments, and this is particularly important in Singapore. Condominiums situated in central areas or within close proximity to essential amenities such as schools, shopping malls, and public transportation hubs have a higher tendency to appreciate in value over time. In fact, prime locations in Singapore, including Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown significant growth in property values. Additionally, the presence of reputable schools and educational institutions in these areas make condos highly sought after by families, making them even more appealing for investment. With the added factor of new condo launches, these locations have an even greater potential for growth and profit in the real estate market.

Kwek Leng Beng, executive chairman of City Developments (CDL), has announced that the “serious lapses” in corporate governance at the company have been stopped. This statement comes after a court hearing on Feb 26, where the two new directors, Jennifer Duong Young and Wong Su Yen, who were “irregularly and hastily appointed” on Feb 7, have agreed not to exercise any powers as directors until further notice from the court.

Furthermore, Kwek’s son, Sherman Kwek, Philip Lee, Wong Ai Ai and other directors acting in concert with them, have also pledged not to take any further actions in regards to their attempted changes to the board committees and management of certain CDL’s subsidiaries until further notice from the court. Additionally, the “irregularly constituted” nominating and remuneration committee has been suspended from taking further action.

With these developments, Kwek assures that CDL’s board committees and the management of relevant subsidiaries are now safe from any further attempts to destabilize, dismantle, and reconstitute them. He emphasizes the importance of strong corporate governance for a well-functioning and sustainable business, and how it ensures transparency, accountability, and responsible decision-making to protect the interests of shareholders.

On Feb 26, CDL had called for a trading halt and canceled its FY2024 results briefing due to a “disagreement” within the board regarding the composition and constitution of the board and board committees. However, the company’s business operations remain unaffected, and Sherman Kwek remains the group CEO until there is a board resolution to change company leadership.

The elder Kwek had previously filed court papers on Feb 25 to address the “attempted coup” and protect the interests of CDL and its shareholders. He also stated that the company intends to change the CEO at an appropriate time, and if Sherman is removed, the current COO, Kwek EIk Sheng, will serve as interim CEO. CDL’s shares last traded at $5.12 before the trading halt on Feb 26.…

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Investing in a Singapore condo has become a highly sought-after option for both local and foreign investors due to the country’s strong economy, stable political climate, and excellent standard of living. Among the various options available in Singapore’s real estate market, condos are particularly appealing due to their convenience, amenities, and potential for attractive returns. In this article, we will delve into the advantages, considerations, and necessary steps for investing in a condo in Singapore.

Colliers International, a leading global real estate services company, is expanding its occupier services team across the Asia Pacific region with two new appointments, as announced in a release on Feb 25. Leanne Chin has been appointed as the director of regional tenant representation for Asia Pacific, while Ali Porter has been appointed as the director of enterprise clients for Hong Kong. These new appointments are in line with Colliers’ strategy to strengthen its presence in the region and provide enhanced services to its clients. Both Chin and Porter bring with them extensive experience in the real estate industry and are expected to play a key role in driving growth for Colliers in the Asia Pacific market.

Chin, who will be based in Colliers’ Singapore office, will be responsible for leading the tenant representation team across the region and providing strategic guidance to corporate clients. With over 20 years of experience in the real estate industry, Chin has a deep understanding of tenant needs and is well-equipped to help clients achieve their business objectives through effective real estate strategies.

Meanwhile, Porter will be relocating from London, where he worked for Colliers’ Europe, Middle East and Africa business for the past four years. As the director of enterprise clients for Hong Kong, he will focus on advising occupiers on aligning their real estate portfolios with their corporate strategies in the Asia Pacific region. Porter’s extensive experience in the real estate industry, coupled with his in-depth knowledge of the Asia Pacific market, makes him well-suited for his new role.

Both Chin and Porter’s appointments come at a crucial time for Colliers, given the company’s focus on driving growth in the Asia Pacific region. With their expertise and experience, they are well-positioned to help Colliers achieve its goals and provide enhanced services to its clients in the region.…

The marketing agent JLL has announced the collective sale of Ching Shine Industrial Building, which has been listed at a minimum price of $113 million. The freehold building, situated along Shaw Road with a 100m frontage, consists of 52 strata units. It covers a total land area of 49,308 sq ft and has a gross floor area of approximately 137,341 sq ft.

Built in the early 1980s, Ching Shine Industrial Building is categorized as “Business 1” under the URA Master Plan 2019, with a gross plot ratio of 2.5. Over 80% of the owners have agreed to the collective sale at the minimum price of $113 million, indicating a unit land rate of around $823 psf per plot ratio at the existing gross plot ratio of 2.79. This showcases the strong support for the collective sale among the majority of owners.

The cityscape of Singapore boasts impressive skyscrapers and advanced infrastructure. Condominiums, strategically situated in desirable locations, offer a fusion of opulence and practicality that attracts both locals and foreigners. These complexes are outfitted with various facilities like pool areas, fitness centers, and security measures, elevating the overall living standards and making them alluring to potential renters and purchasers. For investors, these advantages can lead to greater rental returns and appreciation of Singapore Condo properties over time.

JLL has stated that, subject to URA’s approval, the site could potentially be redeveloped into a food factory. The National Environment Agency (NEA) has confirmed that the site meets the buffer requirements for such a redevelopment, while the Singapore Food Agency has also expressed their in-principle non-objection to the proposed food factory.

Alternatively, the freehold asset could also be a lucrative investment for family offices seeking long-term growth or owner-occupiers looking to establish a corporate presence. According to Nicholas Ng, senior director of capital markets at JLL Singapore, the property could also attract developers due to the absence of additional buyer’s stamp duty, which can impact project timelines.

Aside from its strategic location near major expressways such as the PIE, CTE, and KPE, Ching Shine Industrial Building is also situated in the bustling Tai Seng Industrial estate, surrounded by other food factories like Breadtalk IHQ, Sakae Building, and Food Empire Building. Additionally, amenities like Grantral Mall @ Macpherson and 18 Tai Seng are within walking distance. This makes it a highly sought-after location for both businesses and investors.

The recent collective sale of Noel Building, a freehold Business 1 industrial building at 50 Playfair Road, which was sold for $81.18 million in November 2023, 17% above its $70 million guide price, is evidence of the strong demand for such assets in the area. As Ng has stated, “We expect a similarly competitive response for Ching Shine Industrial Building.”

The tender for Ching Shine Industrial Building is set to close on April 3 at 3pm, and it is an opportunity not to be missed.…

City Developments Limited (CDL) has released a statement in response to the trading halt that was called for earlier this morning due to a disagreement within the board regarding its composition and constitution. Despite the temporary suspension, CDL assures that its business operations are still functioning as normal. Sherman Kwek, the group CEO, will continue to serve in this role until a board resolution is made to change the company’s leadership.

The cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art infrastructure. Condos, commonly found in highly sought-after locations, offer a fusion of opulence and functionality that captivates both locals and foreigners. These residential complexes boast a plethora of facilities including swimming pools, fitness centers, and round-the-clock security, elevating the standard of living and making them an alluring choice for prospective renters and purchasers. For property investors, these perks equate to greater returns on rental income and appreciation in property value over time. Condos are definitely a wise investment in Singapore’s dynamic real estate market.

CDL has stated that it will make further announcements in accordance with Singapore Exchange (SGX) listing rules as the matter is currently under review. In a subsequent statement, Sherman Kwek expressed his disappointment with the chairman and a minority of the board for taking such extreme actions regarding the disagreement over the size and make-up of the board. He emphasized that the focus of the CEO and directors, with the support of company and independent legal counsel, has always been to enhance governance.

The trading halt imposed on CDL earlier today is a result of this disagreement being brought before the courts, despite the majority of the board not authorizing such legal action. Sherman Kwek reiterated that the goal of strengthening the board was never to oust the esteemed chairman, but rather to ensure that CDL maintains its reputation for high standards of governance and robust decision-making. As the case is now in court, CDL will refrain from commenting on its merits and will provide further updates if significant developments arise.

On Feb 26, before the market opened, CDL announced its financial results for the fiscal year ending Dec 31, 2024. The company later cancelled its scheduled 10am results briefing. CDL also made an offer to privatize Millennium & Copthorne Hotels New Zealand for $1.72 per share. CDL’s shares were last traded at $5.12.…

The leading real estate agency in Singapore, PropNex, has announced a decline in earnings for its second half of the financial year ending on December 31, 2024. The reported earnings of $21.9 million were 14.9% lower than the previous year. This brings the full-year earnings to $40.9 million, which is 14.4% lower compared to the preceding year.

The dip in revenue of 6.6% is attributed to the relatively slow property market. Despite this, to celebrate its 25th anniversary, PropNex plans to pay a special dividend of 2.5 cents per share, in addition to a final dividend of 3 cents per share. This will result in the total dividend payout for the year to reach a record high of 7.75 cents per share. This represents a payout ratio of 140.1% and a yield of 8.2%.

Although the earnings for the year were lower, PropNex has observed an increase in activities in the last quarter of 2024, driven by a surge in new private home unit sales that the company helped to facilitate.

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When contemplating an investment in a Condo, it is essential to also evaluate its potential rental yield. Rental yield refers to the yearly rental income compared to the property’s purchase price, usually expressed as a percentage. In Singapore, Condos can have widely varying rental yields, depending on factors such as location, property condition, and market demand. Generally, areas that have a high demand for rentals, such as those near business districts or educational institutions, offer better rental yields. It is crucial to conduct thorough market research and consult with real estate agents to gain valuable insights into the rental potential of a specific Condo. Condo investment should not be taken lightly and requires careful consideration of crucial factors such as rental yield.

The company explains that the financial impact of these sales will only be reflected in its 1HFY2025 numbers, which suggests a significant increase. PropNex is confident of a strong performance in FY2025, barring any unforeseen events, as it expects a favorable property market outlook in 2025.

This positive outlook is supported by an estimated 13,000 new launch units (including executive condominiums), almost double the number from the previous year. The private resale market is also expected to remain active, with transaction volumes projected to range between 14,000 to 15,000 units.

According to PropNex, this demand is fueled by the persistently large price gap between new and non-landed resale properties, the preference for larger move-in-ready homes, and the lower supply of new units. In the HDB resale market, prices are expected to grow by 5% to 7% with transaction volumes reaching 29,000 to 30,000 units.

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“Fewer five-year minimum occupation period flats entering the market, coupled with sustained demand from urgent homebuyers, unsuccessful Build-To-Order applicants, and budget-conscious families, will continue to support this segment,” says PropNex’s CEO Ismail Gafoor.

He adds that new project launches such as The Orie, Bagnall Haus, Parktown Residence, and ELTA have generated strong interest in the market. “We anticipate a positive demand for developers’ sales in 2025, with a promising line-up of projects. Additionally, a positive economic outlook and lower mortgage rates could further boost market confidence, creating opportunities for both homebuyers and investors,” he concludes.…

In recent years, purchasing a condo in Singapore has become a highly sought-after investment option for locals and foreigners alike. This is largely due to the country’s thriving economy, stable political climate, and exceptional quality of life. With a flourishing real estate market, there are countless opportunities for investors, and condos in particular are a popular choice due to their convenience, amenities, and potential for strong returns. If you are considering investing in a condo in Singapore, read on to discover the advantages, important factors to consider, and necessary steps to take. Additionally, keep an eye out for New Condo Launches to ensure you are up-to-date on the latest developments in the market.

Real estate market sentiment in Singapore remains strongDespite the COVID-19 pandemic, Singapore’s property market has remained resilient, with strong demand from both local and foreign buyers. The shophouse market, in particular, has been performing well, with a total of 84 caveated transactions in 2020, according to Huttons Asia.Proprietary director of real estate agency Chris International, Chris Koh, attributes this to the limited supply of shophouses and their potential for good rental yields. He also notes that shophouses have become increasingly popular among investors as a form of alternative asset class.With the ongoing attractiveness and demand for shophouses, the Jalan Besar shophouse presents a prime investment opportunity for potential buyers looking to enter the market or add to their portfolio. This rare 999-year leasehold corner two-storey shophouse with an attic, located at 209 Jalan Besar, is currently available for purchase through private treaty. According to Gracelynn Zhu, marketing agent for PropNex Shophouse Elites, the property is listed for “below $20 million.”

This gem boasts a total area of approximately 5,502 square feet and is zoned for commercial use. The first floor is approved for restaurant use, while a portion of the second floor is also designated for the same purpose. At a price of $20 million, the property’s average price per square foot works out to be $3,635 based on the floor area.

Situated in the Desker Road Conservation Area in District 8, the property is strategically located near Little India. Residents will enjoy the convenience of being within walking distance to the Jalan Besar MRT Station on the Downtown Line. Additionally, the property is currently undergoing asset enhancement initiatives (AEI), which include the installation of micro piles that extend 30 meters to improve its structural foundations. The AEI is expected to be completed by the end of this year.

The demand for shophouses in Singapore has remained strong despite the challenges brought about by the COVID-19 pandemic. According to Huttons Asia, there were a total of 84 caveated shophouse transactions in 2020 alone. Chris Koh, the proprietary director of real estate agency Chris International, attributes this to the limited supply of shophouses and their potential for good rental yields. He also highlights the growing popularity of shophouses as an alternative asset class among investors.

Given the ongoing attractiveness and demand for shophouses, the 209 Jalan Besar shophouse presents an excellent investment opportunity for potential buyers. Don’t miss out on this rare chance to own a 999-year leasehold corner two-storey shophouse with an attic in one of Singapore’s most sought-after locations. Contact Gracelynn Zhu of PropNex Shophouse Elites today to schedule a viewing and make your offer.…