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Straits Times
11 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
12 hours 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.
Business Standard
7 days ago
- Business
- Business Standard
Highway Infrastructure spurts on debut
Shares of Highway Infrastructure were frozen at the upper limit of 5% at Rs 122.84 on the BSE, representing a premium of 75.49% compared with the issue price of Rs 70. The scrip was listed at Rs 117, exhibiting a premium of 67.14% to the issue price. So far, the stock has hit a high of Rs 122.84 and a low of Rs 116. On the BSE, over 19.87 lakh shares of the company were traded in the counter so far. The initial public offer of Highway Infrastructure was subscribed 300.61 times. The issue opened for bidding on 5 August 2025 and it closed on 7 August 2025. The price band of the IPO is fixed between Rs 65 and 70 per share. The offer comprised a fresh issue of equity shares worth up to Rs 97.52 crore and an offer for sale (OFS) of 46,40,000 equity shares. The entire OFS portion is being offered by the promoters, with Arun Kumar Jain and Anoop Agarwal each selling 23,20,000 shares. Of the net proceeds from the fresh issue, the company proposes to utilize Rs 65 crore towards funding. The working capital requirements of the company and the balance towards general corporate purposes. Highway Infrastructure (HIL) is a Madhya Pradesh-based infrastructure development and management company, promoted by Arun K. Jain, Anoop Agarwal, and Riddharth Jain. Its core businesses include tollway collection, EPC infra projects, and real estate development. The company has completed 27 tollway projects and currently operates 4, using advanced ETC and ANPR technologies. Its EPC arm has executed over 66 projects across roads, bridges, and irrigation works under schemes like PMAY and PMGSY. HIL is also developing realty projects in Indore, including residential and integrated developments. Toll collection contributed over 77% to FY25 revenue, followed by EPC and real estate. Its order book as of May 31, 2025, stood at Rs 666.31 crore. Ahead of the IPO, Highway Infrastructure, on 4 August 2025, raised Rs 23.39 crore from anchor investors. The board allotted 33.42 lakh shares at Rs 70 each to 4 anchor investors. The firm reported a consolidated net profit of Rs 22.40 crore and sales of Rs 495.72 crore for the twelve months ended on 31 March 2025.
South China Morning Post
09-08-2025
- Business
- South China Morning Post
Europe is expecting a wave of Chinese tourists. Should it thank Donald Trump?
Europe is basking in summer, with sunny skies, high temperatures – and a surge in Chinese tourists. Advertisement . Despite lingering challenges such as visa requirements and reduced airline capacity due to Russia's invasion of Ukraine, the continent's tourism industry is hopeful that 2025 could mark the highest number of Chinese visitors since the Covid-19 pandemic 'We're pretty optimistic. I work at the centre of Brussels and we see a lot of Chinese. I hear Mandarin everywhere,' said Ludivine Destrée, senior marketing manager at the European Travel Commission (ETC). Europe as a whole, including Switzerland, recorded a 13 per cent year-on-year increase in Chinese tourists during the first half of 2025, according to Destrée. This momentum is only expected to continue. A recent report by the ETC found that 72 per cent of Chinese tourists expressed a willingness to travel long-haul to the continent. That was well above the global average of 39 per cent, and higher than the US and Japan – two traditionally strong markets – at 33 per cent and 13 per cent respectively. Advertisement
Business Standard
08-08-2025
- Business
- Business Standard
Highway Infrastructure IPO ends with 300.61x subscription
The offer received bids for 4.82 crore shares as against 1.60 crore shares on offer. The initial public offer of Highway Infrastructure received bids for 4,82,27,63,700 shares as against 1,60,43,046 shares on offer. The issue was subscribed 300.61 times. The Non-Institutional Investors (NIIs) category was subscribed 447.32 times. The Qualified Institutional Buyers (QIBs) category was subscribed 420.57 times. The Retail Individual Investors (RIIs) category was subscribed 155.58 times. The issue opened for bidding on 5 August 2025 and it closed on 7 August 2025. The price band of the IPO is fixed between Rs 65 and 70 per share. The offer comprised a fresh issue of equity shares worth up to Rs 97.52 crore and an offer for sale (OFS) of 46,40,000 equity shares. The entire OFS portion is being offered by the promoters, with Arun Kumar Jain and Anoop Agarwal each selling 23,20,000 shares. Of the net proceeds from the fresh issue, the company proposes to utilize Rs 65 crore towards funding. The working capital requirements of the company and the balance towards general corporate purposes. Highway Infrastructure (HIL) is a Madhya Pradesh-based infrastructure development and management company, promoted by Arun K. Jain, Anoop Agarwal, and Riddharth Jain. Its core businesses include tollway collection, EPC infra projects, and real estate development. The company has completed 27 tollway projects and currently operates 4, using advanced ETC and ANPR technologies. Its EPC arm has executed over 66 projects across roads, bridges, and irrigation works under schemes like PMAY and PMGSY. HIL is also developing realty projects in Indore, including residential and integrated developments. Toll collection contributed over 77% to FY25 revenue, followed by EPC and real estate. Its order book as of May 31, 2025, stood at Rs 666.31 crore. Ahead of the IPO, Highway Infrastructure, on 4 August 2025, raised Rs 23.39 crore from anchor investors. The board allotted 33.42 lakh shares at Rs 70 each to 4 anchor investors. The firm reported a consolidated net profit of Rs 22.40 crore and sales of Rs 495.72 crore for the twelve months ended on 31 March 2025.
