General Property News

Loyang Valley Enbloc

Loyang Valley Makes Third Collective Sale Attempt with Lower Reserve Price of $880 Million

Loyang Valley, a sprawling 362-unit condominium in Changi, is making its third bid for a collective sale — this time with a more realistic reserve price of $880 million. The new price is $100 million lower than its previous attempt in 2022, reflecting current market conditions and seller expectations. Why the Lower Price? According to […]

CDL Submits Top Bid of $1,132 psf ppr for Lakeside Drive GLS Site

CDL Submits Top Bid of $1,132 psf ppr for Lakeside Drive GLS Site

<p data-start=”243″ data-end=”469″>The tender for a Government Land Sale (GLS) site at Lakeside Drive closed on June 3, drawing six bids. The top bid of $608 million, or $1,132 per square foot per plot ratio (psf ppr), came from City Developments Limited (CDL).</p> <p data-start=”471″ data-end=”873″>CDL’s bid was 10.4% higher than the second-highest bid of […]

CDL to Sell Majority Stake in South Beach Office Complex for $834 Million to Cut Debt

CDL to Sell Majority Stake in South Beach Office Complex for $834 Million to Cut Debt

City Developments Limited (CDL) has agreed to sell its 50.1% stake in the South Beach mixed-use project to its partner, Malaysia’s IOI Properties Group (IOIPG), for approximately $834.2 million. This deal values the entire South Beach complex at around $2.75 billion, representing a 3% premium over the latest valuation of $2.67 billion as of December […]

The Urban Redevelopment Authority (URA) will unveil the Draft Master Plan 2025 on June 25, announced Minister for National Development Chee Hong Tat on Thursday (May 29). The much-anticipated Draft Master Plan, which will outline Singapore’s detailed land plans for the next 10 to 15 years, is being introduced through an exhibition after gathering public feedback from an engagement exercise that began in October 2023. Several locations in the Central Region, including Bukit Timah Turf City, Mount Pleasant, the former Keppel Golf Course, and Marina South, are being targeted for the development of more homes. The government is also focusing on decentralisation efforts, with Jurong Lake District set to become the largest mixed-use district outside the Central Business District (CBD). Further plans are underway to expand Changi Aviation Park, Changi City, and regional hubs such as Tampines and Punggol Digital District. The public was also consulted on a recreation master plan that will highlight Singapore’s parks, public spaces, attractions, and the ambitious "Long Island" project. This 800-hectare land reclamation initiative will be located along Singapore’s eastern coast. Chee made these comments at the opening ceremony of i Light Singapore, the light art festival held in Marina Bay since 2010. The event was launched by URA to commemorate the opening of Marina Bay. Chee said, "Our vision for Marina Bay began in the 1970s, when Singapore’s pioneer generation of leaders and planners recognised the need to expand the city center to support and sustain Singapore’s long-term growth as a global business and financial hub." Plans were set in motion to reclaim around 360 hectares of prime waterfront land, creating a new waterbody seamlessly connected to the existing city center. Today, Marina Bay stands as a vibrant and modern hub anchored in sustainable infrastructure, offering a mix of attractions and developments, Chee noted. "The transformation of Marina Bay is a story of long-term planning and meticulous implementation," he added. Every decade, the government revisits the long-term plans that guide Singapore’s development, mapping out strategic land uses and infrastructure needs for the next 50 years. Chee remarked, "This is how far ahead we plan to ensure we are prepared for the future." The development of Singapore is not solely about building structures and infrastructure, but also about connecting people, places, and creating spaces where Singaporeans can live, work, and play, the minister concluded. He also stated, "Taking on this new portfolio at MND is a challenging task, but it is also a deeply meaningful job. I hope to continue engaging and collaborating with all of you, our stakeholders and partners, to transform even more of our public spaces into vibrant, impactful experiences that enrich our lives, strengthen our community identity, and foster a sense of shared ownership of this beautiful city we call home."

Sembawang EC Site and Hougang Mixed-Use Plot Launched for Tender: Over 1,000 New Homes Expected

Two government land sites have been launched for tender in Singapore, promising to deliver over 1,000 new homes. The plots, located in Sembawang and Hougang, are set to cater to strong housing demand in the coming years. The Sembawang site, designated for an executive condominium (EC) development, covers 18,968 square meters (sq m) and offers […]

More homes are being planned in various locations in the Central Region such as Bukit Timah Turf City

URA to Unveil Draft Master Plan 2025 in June: Chee Hong Tat

The Urban Redevelopment Authority (URA) will unveil the Draft Master Plan 2025 on June 25, announced Minister for National Development Chee Hong Tat on Thursday (May 29). The much-anticipated Draft Master Plan, which will outline Singapore’s detailed land plans for the next 10 to 15 years, is being introduced through an exhibition after gathering public […]

Upperhouse Entrance

Ultra-Luxury Condo Sales in Singapore Surge in Q1 2025, Defying Economic Uncertainty

Despite ongoing economic challenges, Singapore’s ultra-luxury condominium market has shown promising signs of recovery, with 17 units sold in the first quarter of 2025. This represents a significant increase compared to just seven units sold in the same period in 2024. The sales figures also outpaced those recorded in the first quarters of 2023 and […]

US China Trade War

US and China Agree to Slash Tariffs for 90 Days Amid Efforts to De-escalate Trade Tensions

In a significant move to cool escalating trade tensions, the United States and China have agreed to suspend a large portion of their tariffs for a 90-day period, giving both economic powerhouses a chance to resolve ongoing disputes. The joint announcement was made on May 12, following high-level discussions in Geneva. Starting May 14, the […]

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