Fragrance Group to launch Jervois Treasures on July 27

Local property developer Fragrance Group will launch its newest residential project, Jervois Treasures, on Saturday, July 27. The developer will also launch another new residential project, Urban Treasures, later this quarter.
“We picked up two choice sites with freehold tenure [and] in prime and strategic locations. Jervois Treasures [has] a coveted address while Urban Treasures will offer a good value freehold property in the east,” says Koh Wee Meng, executive chairman and CEO of Fragrance Group.
 

Eu Yan Sang Building in Chinatown going for $62.5 mil

Eu Yan Sang Building in Chinatown, comprising four contiguous shophouses, has been put up for sale at $62.5 million, or about $3,143 psf on the gross floor area. Located at 265 to 271 South Bridge Road, the row of three-storey conservation buildings has a gross floor area of 19,885 sq ft and sits on a combined land area of 6,262 sq ft.
 
The properties are in the Telok Ayer Conservation Area, and command a 23-metre frontage along South Bridge Road. The land has a 999-year tenure that started in 1823, and is zoned for commercial use under the 2019 Draft Master Plan. The owner proposes to offer the shophouses with a leasehold tenure of 199 years from the date of completion of the sale and purchase of the property. The units are currently leased to the Eu Yan Sang flagship store, two hostels and a law firm.

About 160 units sold at One Pearl Bank on launch weekend

CapitaLand announced that 160 units or 80% of 200 units released during the first weekend of launch, have been sold as at 5pm on Sunday, July 21. Bookings had commenced at 11am on Saturday, July 20. The average sale price achieved was $2,400 psf.

The sales rate achieved translates to 21% of a total of 774 units in the private condo development at 1 Pearl Bank. “The strong performance during its first weekend of sales earned One Pearl Bank the distinction of the best-selling new launch in Singapore’s Central Area year to date,” according to CapitaLand in a release.

 

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Beauty World and Hillview: The allure of late-night dining and nature trails

Beauty World’s strongest draw is its stretch of eateries along Cheong Chin Nam Road. Home to an array of cuisines, the area attracts its largest crowd in the evenings. The buzz tapers off late into the night, but some shops open well into the wee hours to serve those still awake.
Among the noteworthy eats, Al-Azhar caters to those looking for halal Indian food, with a selection of prata, curry, tandoori sets, roti john, murtabak and briyani meals. It also offers a fun selection of Thai food, as well as fried noodles and mutton soup. Local beverages such as teh tarik, teh halia and lassi are also served.
 

Belmont Road GCB up for auction at $42 mil

A two-storey Good Class Bungalow (GCB) at 80 Belmont Road will be featured at Knight Frank’s property auction on July 23. The freehold property is being sold through a mortgagee sale and has a guide price of about $42 million, or $1,557 psf on the land area.
Located in the luxurious Belmont Park GCB area, the home sits on a 27,000 sq ft plot and has a total floor area of 15,714 sq ft. The house also features a covered car porch, lift, playground, basketball court, and landscaped garden.
 

IMF recommends adjustment to property cooling measures, eliminating ABSD eventually

After expanding 3.7% in 2017, Singapore’s economic growth tapered to 3.1% in 2018 and the International Monetary Fund (IMF) has projected that it will slow to 2% in 2019. Growth had already decelerated to 1.1% in 1Q2019 and 0.1% in 2Q2019.

“Over the medium term, growth should stabilize around 2½ percent, increasingly driven by modern services alongside other trade-related sectors,” says IMF in a release on July 15, following the conclusion of its Article IV consultation with Singapore. “Risks to the outlook are tilted to the downside and mainly stem from external sources, including a tightening of global financial conditions, escalation of sustained trade tensions, and deceleration of global growth.”

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Koh Brothers Eco in tie-up to build infrastructure for Tuas plant

Koh Brothers Building & Civil Engineering (KBCE) has jointly clinched a $668.2 million contract from the Public Utilities Board (PUB) for the construction of influent pumping stations at Tuas Water Reclamation Plant (TWRP). KBCE is a wholly-owned subsidiary of Singapore-listed engineering and construction company, Koh Brothers Eco Engineering.

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