Latest news with #condominium
CNA
2 days ago
- Automotive
- CNA
Condo near Tanjong Katong sinkhole to hire independent engineers to assess safety
SINGAPORE: A condominium next to the sinkhole in Tanjong Katong will appoint independent engineers to assess its grounds, as authorities complete backfilling and begin further checks in the area. "We understand residents' concern as the sinkhole location is a stone's throw away from our estate," said a message from One Amber condominium's management office sent to residents in the early hours of Monday (Jul 28). "Please be informed that the management of One Amber will be seeking independent professional advice from civil and structure engineers on the common areas, in particular those that are in close proximity to the sinkhole area," said the message, which was seen by CNA. The management added it would share official updates from the authorities with residents as soon as possible. A sinkhole appeared along Tanjong Katong Road South on Saturday evening, and social media footage showed a car falling in. The female driver was rescued by workers and taken conscious to Raffles Hospital. The affected stretch of road has been closed until further notice for repairs. On Monday, MP Goh Pei Ming (PAP-Marine Parade-Braddell Heights) told CNA that further checks in the area include a radar scan that will detect cavities, followed by a probing system that will go 20m into the ground to ensure there are no undetected cavities. "20m is actually (quite deep), so that, they will do at a few spots, and that will probably take a bit of time," he said. "Once that is all completed, they will do analysis of all the results before giving an all clear on the road to be repaved, and thereafter plans for reopening." In a Facebook post, Mr Goh said the Land Transport Authority (LTA) will ensure there are no air pockets in the soil before repaving. "I understand residents are keen to know when the road can be reopened. I think it is best we give the agencies the time to be doubly sure the road is safe before we reopen," he wrote. He also noted that morning traffic had been smooth, and that LTA deployed vehicular messaging systems and worked with the Ministry of Education to inform parents about diversions.
Bloomberg
16-07-2025
- Business
- Bloomberg
Singapore Luxury Condo's Early Flop Shows Property Boom's Limits
A large-scale luxury development in Singapore sold only a tiny fraction of units when it started accepting bookings, reflecting the struggles of the priciest segment in the city-state's otherwise stratospheric property market. The W Residences Marina View condominium began pre-sales last Saturday, and buyers booked only two of its 683 units over the weekend, according to people familiar with the matter who asked not to be identified sharing private information. The complex is located in the heart of the country's central business district, a short walk from skyscrapers that house global financial institutions and multinational companies.
Yahoo
16-07-2025
- Business
- Yahoo
SC Asset Announces Global Launch Roadshow for "REFERENCE SATHORN - WONGWIANYAI" in Hong Kong, Singapore, and Taipei This July
SINGAPORE, HONG KONG and TAIPEI, July 16, 2025 /PRNewswire/ -- SC Asset, one of Thailand's leading real estate developers, is proud to announce the Global Launch Roadshow for its flagship river view condominium project, REFERENCE SATHORN – WONGWIANYAI, this July 18–19. The international showcase will be held in three strategic locations across Asia: Hong Kong, Singapore, and Taipei, reflecting the company's commitment to meeting growing regional demand for premium Bangkok real estate. The event schedule includes: Hong Kong: Park Lane Hotel, Causeway Bay, 19 July 2025 Singapore: Marriott Tang Plaza Hotel, 19 July 2025 Taipei: Guo Chang Building (near Taipei Arena), 18–19 July 2025 Located just 130 meters from BTS Wongwian Yai Station, REFERENCE SATHORN – WONGWIANYAI places you effortlessly within reach of Sathorn CBD and Siam—two of Bangkok's most dynamic business and lifestyle districts. Just a few stops away lies ICONSIAM, the city's premier world-class shopping and entertainment destination. This striking river view condominium spans 5,800 square meters, featuring two elegantly designed residential towers with 789 thoughtfully planned units. Wake up to panoramic views of the Chao Phraya River and Bangkok's skyline, framed by minimalist architecture and stylish contemporary interiors. Residents enjoy a curated collection of lifestyle amenities, including a serene infinity pool, fully equipped fitness center, sky lounge, and co-working space—all designed to elevate everyday living. Whether you're an international buyer, savvy investor, or urban professional seeking balance, this exceptional riverside address offers both prestige and long-term potential—starting from just THB 4.2 million. The roadshow will feature private project briefings, one-on-one consultations, and exclusive offers for event attendees. This launch marks a major step in SC Asset's regional outreach, presenting Bangkok's rising west riverside zone as the next prime destination for both living and investment. About SC AssetSC Asset Corporation Public Company Limited is one of Thailand's leading real estate developers, known for creating high-quality homes and communities built to last. Guided by the belief that every day should begin with peace of mind, SC Asset is committed to delivering Worry-Free Homes that blend thoughtful design, sustainable innovation, and enduring value. Alongside residential development, SC Asset continues to expand into hospitality, logistics, and other recurring income businesses to strengthen its balanced, long-term growth. With a clear vision ahead, SC Asset is shaping living experiences that go beyond expectations — with the goal of supporting more than one million residents in worry-free living by 2050. This is why SC Asset remains the trusted foundation for better living, today and tomorrow. For inquiries or RSVP information:internationalbuyers@ | to attend: View original content: SOURCE SC ASSET Sign in to access your portfolio
Yahoo
16-07-2025
- Business
- Yahoo
Multifamily developer overcomes South Florida's challenges
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter. South Florida has long had a reputation for being a boom-or-bust real estate market. In the early and mid-2000s, developers built condominium projects throughout the area only to have demand dry up and units sit empty in the wake of the global financial crisis. Rene Bello, the principal of Miami-based real estate development and investment firm BLDG Ventures, thinks the migration to South Florida during and after the COVID-19 pandemic could upend the cycle. 'We're still seeing a ton of folks moving down to South Florida,' Bello said. 'We're getting the benefit of migration from the Northeast. That capital migration is still strong.' But that's not enough to save the market from the current wave of concessions, which isn't the traditional bust in the metro but is a near-term problem. 'We saw this spike in rents six to 12 months back,' Bello said. 'That was not sustainable.' Bello has been in the business for 15 years and worked on the Miami World Center, a mixed-use development with multiple skyscrapers that includes a convention center, hotel, residential space and street-level retail. BLDG Ventures is currently developing a 148-unit mixed-use development called Atelier Residences in Miami. 'It has 15,000 square feet of amenity space,' Bello said. 'So, think of ground-floor restaurants, a pool, gym, spa and the sauna — the things you would expect in a South Florida environment.' Here, Bello talks with Multifamily Dive about labor, insurance issues and interest rates. This interview has been edited for brevity and clarity. RENE BELLO: Back in 2020 and 2021, you would put out to bid on any trade — flooring, electrical, concrete and stucco — and you'd get between 10 to 15 bids on it. Now, as labor markets are tightening and costs have increased, it's becoming increasingly competitive. So what used to be 10 to 15 bids has now come down to between five and seven or eight bids. The other impact we're seeing, which has a direct impact on our underwriting, is the increase in land costs and insurance premiums. We're in a sensitive climate down here, and we're seeing that land costs have not decreased. Rents are coming down. Insurance premiums continue to go up. We're seeing increases of anywhere between 15% and 20% in insurance premiums year after year. Over the last two to three months, we've seen a slight slowdown in rents, and we're also seeing concessions across the board to fill these units. So, the hustle and bustle that we experienced in the 2021 cycle has cooled down. It's making penciling developments a bit tougher. Multifamily is tough to pencil out today because of the interest rate environment. The interest rates should come down, hopefully. We've been holding our breath now for quite some time, waiting for them to drop. Hopefully, on the back end, in Q3 or Q4, we should see some compression on those interest rates, which would free up a ton of capital. What I'm hearing from our lenders is that multifamily has got to make a lot of sense. You've got to really have a good basis in the land now. In the last few months, you saw a ton of activity in refinancing, which was interesting to me. You're seeing a lot of folks roll over that debt in anticipation of lower interest rate environments on the back end. That has increased lead times on the delivery of these projects. You couple the interest rates and refinancing rollover, along with tariffs and pricing escalation, and it's going to get very competitive in the multifamily space. This might drag out for another six to 12 months, given the environment that we're in and the way that these projects are coming together with equity and debt. You're seeing a lot of people who are going to wait and hold out and see where this lands. They want to understand what type of interest rate environment we're going to be in on the back end of 2025 and into 2026. Once we see that interest rate come down, I believe that you're going to have a flurry of refinancing, both on land and on stabilized assets, to permanent debt financing. There will be a flurry of activity, especially in the middle markets. Middle markets, back in the day, were $10 million to $20 million. Now they're somewhere between $50 million and $100 million. That $50 million to $100 million middle market is where we're seeing margins pencil out. Above that, in the $100 million-plus range, where you're looking at developments of 300 units or more, we're going to see a compression. We're going to see a rolling over of debt in that upper market tranche. In lower-income housing, we're seeing a lot of activity in that space, mainly because of some of the subsidies that kick in. You have the low-income housing tax credit market that comes into play when you're looking at these lower-income and workforce housing options. Click here to sign up to receive multifamily and apartment news like this article in your inbox every weekday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CTV News
14-07-2025
- Business
- CTV News
City asking for feedback on Roseland Golf Course Clubhouse concept
City officials say there will be no impact to the historic Donald Ross designed golf course, but a new clubhouse will be built and the potential for a new condominium complex has been envisioned. (Source: City of Windsor) The City of Windsor is moving forward with plans to construct the new Roseland Golf Course Clubhouse, and is asking the public for feedback. The city says it aims to incorporate current golfing trends into the design and construction of the future golf course amenity. Roseland offers an 18-hole golf course designed in 1926 by renowned golf course architect Donald J. Ross and constructed in 1927. The property is the centerpiece of the Roseland Park subdivision. The course itself was designated under the provisions of the Ontario Heritage Act in 2003. The new Roseland Golf Course Clubhouse concept was created by GGA Partners, an international consulting firm. GGA Partners was retained to develop Roseland's Strategic Business Plan (2019), oversee public consultation on the project (2020), and complete the Clubhouse Feasibility Study (2021). 'The Roseland Golf Course Clubhouse represents a significant investment at Roseland. Public consultation has been a key piece of the puzzle with all developments at Roseland for years, and public input on the concepts for the new clubhouse is vital to the overall success of the project. This is a significant investment in infrastructure that overlaps with economic development, tourism and hospitality, quality of life enhancements, and Housing Solutions Made for Windsor,' said Windsor mayor Drew Dilkens. Approximately $5.7 million is available through the city's 10-year capital plan for Roseland, with funding to support demolition of the existing clubhouse, site servicing, temporary arrangements for staff during demolition and construction, and the design and construction of the new clubhouse. Design elements for the new facility will include: Increased focus on golfing and the golf course Smaller footprint for the physical building, at approximately 5,500 square feet One floor Building oriented towards the golf course and putting green, preserving the putting green and blending seamlessly into the broader site A move towards covered outdoor seating, in place of traditional indoor seating Convenient, grab-and-go style food and beverage service Upgraded washroom facility Storage facilities and an administrative area Open House: Residents, golfers, user groups and stakeholders are invited to attend an in-person public open house to learn more about the proposed clubhouse design concept and engage with project team members. Date: Thursday, July 31, 2025 Time: 3 p.m. to 7 p.m. Location: Roseland Clubhouse, 455 Kennedy Drive West, Windsor, Ontario, N9G 1W9 Drop-in format with display boards and project team members available Survey: Those interested can also participate in an online feedback survey (coming July 31, 2025). The feedback survey will be open from July 31 until Aug. 15, 2025. The proposed concept will be reviewed at a future city council meeting. For more information on Roseland Golf Course, visit their website at
