Latest news with #SingaporeShoppingCentre
Business Times
17 hours ago
- Business
- Business Times
Daily Debrief: What Happened Today (Aug 18)
Stories you might have missed Singapore exports tipped for slower growth after worse-than-expected contraction in July [SINGAPORE] The Republic is poised for slower export growth in the second half of 2025, economists said, after last month's numbers came in worse than expected. More customer interest in floating-rate home loans amid Sora decline in Q2 [SINGAPORE] The local banks have observed more customer interest in home loans on floating-rate packages, following a decline in the Singapore Overnight Rate Average (Sora) in the second quarter of 2025. Winners and losers from Prabowo's first budget for Indonesia's economy BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up [JAKARTA] Indonesian President Prabowo Subianto's debut state budget has put the spotlight on food, healthcare and energy security, with analysts highlighting consumer companies, banks and energy companies as the main beneficiaries. Bringing buzz to Woodlands, Kranji and Sembawang: Things to know [SINGAPORE] The Republic's northern region is set to be rejuvenated into a vibrant precinct with business and industrial districts alongside nature, housing and transport amenities. Singapore Shopping Centre back on the market at S$200 million [SINGAPORE] Singapore Shopping Centre is relaunched for collective sale again – this time at a lower asking price of S$200 million, down 21.6 per cent from the S$255 million reserve price listed in its previous attempt. Reit managers should cut acquisition and divestment fees for property transactions, do right by investors [SINGAPORE] Want to raise money easily? Be a listed real estate investment trust (Reit) with a large asset portfolio, ample trading liquidity, good institutional investor following, an established track record, a strong sponsor and a healthy market valuation. STI falls 1% after Trump-Putin meeting [SINGAPORE] Singapore shares fell on Monday (Aug 18), following a meeting between US President Donald Trump and his Russian counterpart Vladimir Putin in Alaska on Friday.
Straits Times
21 hours ago
- Business
- Straits Times
Singapore Shopping Centre relaunched for collective sale at lower $200m asking price
Sign up now: Get ST's newsletters delivered to your inbox The asking price of $200 million is 21.6 per cent lower than the $255 million reserve price in 2020. SINGAPORE - The strata owners of Singapore Shopping Centre are making another attempt at a collective sale – this time at a lower asking price of $200 million, down 21.6 per cent from the $255 million reserve price listed in its previous attempt in 2020. The lower asking price translates to a land rate of between $2,800 and $3,500 per square foot per plot ratio (psf ppr), depending on the proposed land use and development intensity. Spanning 2,449.8 square metres (sq m), the site is zoned for commercial use with a 4.2 plot ratio under the Urban Redevelopment Authority (URA) Draft Master Plan 2019. It can be redeveloped for hotel use at the same plot ratio, or the existing building can be adaptively repurposed for hotel use based on its current gross floor area, reflecting an equivalent plot ratio of 5.1296. The subdivision of commercial properties is generally not allowed along Orchard Road, However, the Singapore Shopping Centre site lies just outside this URA-designated zone, said sole marketing agent ETC on Aug 18. 'This gives the developer the flexibility to strata-subdivide the space if desired.' ETC has submitted an enquiry to the authorities to renew the lease to a fresh 99-year period. Swee Shou Fern, head of investment advisory at ETC, said: 'With the precinct undergoing a wave of transformation, from green public spaces like Dhoby Ghaut Green to upcoming new developments, we see strong potential for this site to become a new anchor for this end of Orchard Road.' She added: 'Combined with the flexibility for redevelopment or adaptive reuse, this property offers developers limitless potential to create a standout destination in one of Singapore's most recognisable corridors.' The seven-storey retail and office development, located at 190 Clemenceau Avenue, is opposite Dhoby Ghaut MRT station. It has a triple-road frontage onto Clemenceau Avenue, Penang Road and Penang Lane. The development has an existing gross floor area of about 12,566.5 sq m. The building is in close proximity to 9 Penang road which houses UBS, Plaza Singapura, MacDonald House that will be occupied by private members' club Vanta, as well as the Singapore Management University. The building was first launched for collective sale in July 2019 at a reserve price of $255 million. It was relaunched half a year later at an unchanged reserve price, but there were no takers then either.
Business Times
a day ago
- Business
- Business Times
Singapore Shopping Centre back on the market at S$200 million
[SINGAPORE] Singapore Shopping Centre is relaunched for collective sales again – this time at a lower asking price of S$200 million, down 21.6 per cent from the S$255 million reserve price listed in its previous attempt. The lower asking price translates to a land rate of between S$2,800 and S$3,500 per square foot per plot ratio (psf ppr), depending on the proposed land use and development intensity. Spanning 2,449.8 square metres (sq m), the site is zoned for commercial use with a 4.2 plot ratio under the Urban Redevelopment Authority (URA) Draft Master Plan 2019. The site can be redeveloped for hotel use at the same plot ratio, or the existing building can be adaptively repurposed for hotel use based on its current gross floor area, reflecting an equivalent plot ratio of 5.1296. The subdivision of commercial properties is generally not allowed along Orchard Road, However, the Singapore Shopping Centre site lies just outside this URA-designated zone, said the sole marketing agent ETC on Monday (Aug 18). 'This gives the developer the flexibility to strata-subdivide the space if desired.' ETC has submitted an enquiry to the authorities to renew the lease to a fresh 99-year period. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Swee Shou Fern, head of investment advisory at ETC, said: 'With the precinct undergoing a wave of transformation, from green public spaces like Dhoby Ghaut Green to upcoming new developments, we see strong potential for this site to become a new anchor for this end of Orchard Road.' She added: 'Combined with the flexibility for redevelopment or adaptive reuse, this property offers developers limitless potential to create a standout destination in one of Singapore's most recognisable corridors.' The seven-storey retail and office development, located at 190 Clemenceau Avenue, is opposite Dhoby Ghaut MRT station. It has a triple-road frontage onto Clemenceau Avenue, Penang Road and Penang Lane. The development has an existing gross floor area of about 12,566.5 sq m. The building is in close proximity to 9 Penang road which houses UBS, Plaza Singapura, MacDonald House that will be occupied by private members' club Vanta, as well as the Singapore Management University. The building was first launched for collective sale in July 2019 at a reserve price of S$255 million. It was relaunched half a year later at an unchanged reserve price, but there were no takers then either. The latest tender closes on Oct 28.
