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INVESTORS hoping to take advantage of the master plan out this week should look at Woodlands and Village but hang fire on Kampong Bugis, Marina South, Serangoon Gardens and Jalan Kayu, said consultants.
They added yesterday that while plans for Tanjong Pagar and the Greater Southern Waterfront were exciting, they would materialise only far into the future.
A LACK of new supply and increased demand amid a more upbeat business climate boosted prime office rents in the first quarter, said property consultancy Cushman & Wakefield yesterday.
The average grade A overall rent hit $9.90 per square foot (psf) per month - up 5.5 per cent over the previous quarter and the fourth straight quarter of increases.
It was also up 10.1 per cent on the same period a year ago.
GUOCOLAND'S Clermont Residence in Tanjong Pagar has been ranked in the world's top 10 plushest high-rise apartment blocks by a website that caters to the world's rich.
Billionaire.com used a block's price per square foot and the price of its most expensive unit to come up with its premier league table.
It placed Clermont Residence, which is part of the Tanjong Pagah Centre mixed development, at No. 8, with an average price of US$2,360 (S$2,950) per sq ft (psf) and a penthouse worth US$47 million.
THE 14th floor of Samsung Hub along Church Street has been sold at slightly over $39.72 million or $3,030 per square foot based on its 13,110 sq ft strata area.
Word on the street is that Arch Capital Management, a Hong Kong-based private equity real estate firm with links to Ayala Group of the Philippines, is selling the whole office floor - comprising four strata units - to a mainland Chinese company. The floor is leased until year-end to a law firm.
Fresh efforts to market SkySuites @ Anson by Allgreen Properties could crank up interest in homes in Tanjong Pagar, long seen as an integral part of Singapore's central business district.
The 360-unit project, in Enggor Street, is being officially "launched" today, although about 200 units have been sold since marketing started a year ago.
The area is undergoing a significant change with numerous projects springing up.
THE new homes coming up in Holland Village, Kampong Bugis and Marina South under the Draft Master Plan 2013 make up only a tiny portion of the 500,000 new homes that could be rolled out after 2016.
The bulk of that total could come from the redevelopment of various tracts of land freed up by re-zoning or land use changes, consultants said.
However, they noted that builders started planning ahead when the Population White Paper and Land Use Paper were released in January.
The tender of the commercial site at Cecil Street/Telok Ayer Street has finally been awarded by the URA or Urban Redevelopment Authority to FC Commercial Trustee Pte Ltd (as Trustee-Manager of Aquamarine Star Trust). The bidding has attracted four tenderers. They are as follows:
A tract of waterfront land spanning 1,000 ha, referred to as the Greater Southern Waterfront in the Draft Master Plan 2013 of the Urban Redevelopment Authority (URA), will be the next major growth area in the city.
Specifically, the 21.5 ha of development area in Marina South will yield about 9,000 private homes. Development will start after 2017/2018, when the Thomson Line is nearer completion.
Residents and visitors to the area will be able to shop in an 800m long underground mall between the two Thomson Line stations serving the area, namely Marina South and Gardens by the Bay. This frees up the ground-level space above the mall for a pedestrian walkway.
