Grade A office rents in the CBD of Singapore grew in 1Q2023 and q-o-q growth slowed for the second consecutive quarter according to JLL, a real estate consultancy. The growth of 1.0% q-o-q in gross effective rents to an average of $11.30 psf per month (psf pm) was lower than the 1.2% recorded in the previous quarter, which marked the first slowdown after five consecutive quarters of growth.

Andrew Tangye, Head of Office Leasing and Advisory at JLL Singapore, believes that the easing of rental growth is due to macroeconomic uncertainties which have dampened demand for office space. Large space users are reportedly “pressing the pause button” on expansionary and relocation plans.

Despite the current “cautious mood”, the tight supply of Grade A office space has seen some occupiers seizing the opportunity to upgrade to better office spaces at new and upcoming completions. An example of this is Corney & Barrow who relocated to Hub Synergy Point and German insurer Munich Re who took up two floors at 18 Cross Street for its new office.

New office space in the CBD includes Guoco Midtown in the Bugis-Beach Road area which received its Temporary Occupation Permit in January. About 80% of its space is reportedly committed and at least 10% is in advanced negotiations. At IOI Central Boulevard Towers, 45% of its space is currently pre-committed or under advanced negotiation and it is due to be completed in 3Q2023.

Labrador Tower along Pasir Panjang Road is estimated to be 25% pre-committed one year ahead of its completion in 2024. Notable tenants include Prudential which reportedly took up around 150,000 sq ft of space in a Green Mark Platinum Super Low Energy development.

Given the macroeconomic environment, JLL Singapore’s Head of Research and Consultancy Tay Huey Ying believes that office demand will remain more subdued. She anticipates backfilling of spaces vacated by relocating occupiers could take a little longer and this will keep rent growth modest, if at all, for the rest of the year.

Andrew Tangye predicts that rental growth will accelerate again post-2024 as new completions dip and demand returns as economic prospects improve. He suggests occupiers, especially large space users, to lock in spaces in good quality new office buildings during this time.…

Bukit Timah Estate is a luxurious and prestigious residential area located in the central region of Singapore. The estate is known for its lush greenery, serene environment, and high-end properties that offer a luxurious lifestyle. It’s a popular residential area among expatriates, high-net-worth individuals, and affluent locals.

History of Bukit Timah Estate

Bukit Timah Estate is named after Bukit Timah Hill, which is the highest natural point in Singapore. The estate was developed in the early 1900s as a residential area for wealthy Europeans and Asians. The estate was later expanded in the 1960s and 1970s to cater to the growing population of Singapore.

Today, Bukit Timah Estate is a prime residential area that boasts some of the most luxurious and exclusive properties in Singapore. The estate is home to a mix of landed properties, condominiums, and apartments, making it an ideal place for families, couples, and singles.

Things to do in Bukit Timah Estate

Bukit Timah Estate is known for its lush greenery and scenic spots that offer a serene escape from the hustle and bustle of city life. One of the most popular destinations in Bukit Timah is the Bukit Timah Nature Reserve. The reserve is home to a wide range of flora and fauna, making it a popular spot for nature enthusiasts. Visitors can hike along the trails and enjoy the scenic views of the reserve.

The estate is also home to several prestigious golf clubs, including the Singapore Island Country Club and the Raffles Country Club. These clubs offer world-class facilities, including championship golf courses, tennis courts, and swimming pools, making them a popular destination for sports enthusiasts.

For foodies, Bukit Timah offers a range of dining options that cater to different tastes and budgets. The estate is known for its high-end restaurants, such as the Corner House and Whitegrass, which offer exquisite cuisine in a luxurious setting. The estate also has several hawker centers, such as the Adam Road Food Centre and the Bukit Timah Market and Food Centre, which offer a range of local delicacies at affordable prices.

Education in Bukit Timah Estate

Bukit Timah Estate is home to several prestigious schools, including primary and secondary schools, as well as international schools. These schools provide quality education to students of all ages, ensuring that they are well-prepared for their future.

Some of the popular schools in Bukit Timah include Nanyang Primary School, Hwa Chong Institution, and Singapore Chinese Girls’ School. These schools have a strong academic track record and offer a range of co-curricular activities to help students develop their skills and interests.

Healthcare Facilities in Bukit Timah Estate

Bukit Timah Estate is well-equipped with healthcare facilities to cater to the medical needs of its residents. The estate has several clinics, dental clinics, and pharmacies, making it easy for residents to access medical services.

The estate is also home to several hospitals, including the National University Hospital and Mount Elizabeth Hospital. These hospitals offer a range of medical services, including specialist consultations, diagnostic tests, and surgical procedures.

Transportation in Bukit Timah Estate

Bukit Timah Estate is well-connected with various transportation options, making it easy for residents to travel to other parts of Singapore. The estate is served by several bus routes and MRT stations, such as the Beauty World MRT station and the Sixth Avenue MRT station, which provide easy access to other parts of the island.

Community Events in Bukit Timah Estate

Bukit Timah Estate is a vibrant community that organizes various events and activities throughout the year. These events provide an opportunity for residents to come together, interact with each other, and celebrate the community’s diversity and culture.

One of the most popular events in Bukit Timah is the annual Bukit Timah Community Club Carnival, which offers a range of activities for families, such as games, rides, and food stalls. The carnival is a great way for residents to come together and have fun.

The estate is also home to several community clubs, such as the Bukit Timah Community Club and the Ulu Pandan Community Club, which offer a range of activities and classes for residents of all ages. These clubs provide a platform for residents to meet new people and pursue their hobbies and interests.

Conclusion

Bukit Timah Estate is a luxurious and prestigious residential area that offers a high quality of life for its residents. The estate boasts a range of amenities and facilities, including parks, schools, healthcare facilities, and high-end restaurants. It’s also well-connected with various transportation options, making it easy for residents to travel to other parts of Singapore.

Whether you’re a nature lover, foodie, or someone who enjoys a luxurious lifestyle, Bukit Timah Estate has something for everyone. It’s a great place to live, work, and play, and it’s no wonder that it’s one of the most sought-after residential areas in Singapore.…

Bukit Panjang Town is a vibrant and serene community located in the western part of Singapore. The town is known for its lush greenery, scenic views, and a plethora of amenities that cater to the needs of its residents. Bukit Panjang is a town that offers a peaceful and serene lifestyle, making it an ideal place for families, couples, and singles.

History of Bukit Panjang Town

Bukit Panjang Town was originally a rural area with rubber plantations and farms. It was only in the 1980s when the Singapore government decided to develop the area into a housing estate to cater to the growing population. The town was officially opened in 1999, and since then, it has undergone continuous development to improve the quality of life for its residents.

Today, Bukit Panjang Town is a bustling community that boasts numerous amenities and facilities, including schools, parks, shopping malls, and healthcare facilities. The town is also well-connected with various transportation options, making it easy for residents to travel to other parts of Singapore.

Things to do in Bukit Panjang Town

Bukit Panjang Town has something for everyone, from nature lovers to foodies. The town is known for its scenic spots and beautiful parks that offer a serene escape from the hustle and bustle of city life.

One of the most popular parks in Bukit Panjang is the Zhenghua Nature Park. The park is a beautiful oasis that features a natural stream, a pond, and lush greenery. It’s a great place for a leisurely walk or a picnic with family and friends.

Another must-visit destination in Bukit Panjang is the Bukit Timah Nature Reserve. The reserve is home to an array of flora and fauna, making it a popular spot for nature enthusiasts. Visitors can hike along the trails and enjoy the scenic views of the reserve.

For foodies, Bukit Panjang offers a range of dining options that cater to different tastes and budgets. The town is known for its hawker centers, such as the Bukit Panjang Hawker Centre and Market. These centers offer a wide range of local delicacies at affordable prices, making them a popular spot for both locals and tourists.

The town also has several shopping malls, including the Hillion Mall and Bukit Panjang Plaza, which offer a range of retail and dining options. The malls are popular among residents, as they provide easy access to daily necessities and entertainment.

Education in Bukit Panjang Town

Bukit Panjang Town is home to several reputable schools, including primary and secondary schools, as well as junior colleges. These schools provide quality education to students of all ages, ensuring that they are well-prepared for their future.

Some of the popular schools in Bukit Panjang include Zhenghua Primary School, West View Primary School, and Pioneer Junior College. These schools have a strong academic track record and offer a range of co-curricular activities to help students develop their skills and interests.

Healthcare Facilities in Bukit Panjang Town

Bukit Panjang Town is well-equipped with healthcare facilities to cater to the medical needs of its residents. The town has several clinics, dental clinics, and pharmacies, making it easy for residents to access medical services.

The town is also home to the Senja-Cashew Community Health Centre, which provides primary healthcare services to residents. The center offers a range of services, including general medical consultations, health screenings, and vaccinations.

Transportation in Bukit Panjang Town

Bukit Panjang Town is well-connected with various transportation options, making it easy for residents to travel to other parts of Singapore. The town is served by several bus routes and the Bukit Panjang MRT station, which provides easy access to other parts of the island.

The town is also connected to major expressways, such as the Bukit Timah Expressway (BKE) and the Kranji Expressway (KJE), which provide convenient access to other parts of Singapore.

Community Events in Bukit Panjang Town

Bukit Panjang Town is a vibrant community that organizes various events and activities throughout the year. These events provide an opportunity for residents to come together, interact with each other, and celebrate the community’s diversity and culture.

One of the most popular events in Bukit Panjang is the annual Chingay parade, which features colorful floats, dancers, and performers. The parade is a celebration of Singapore’s multiculturalism and is attended by thousands of people every year.

The town also organizes community events, such as the Bukit Panjang Family Carnival, which offers a range of activities for families, such as games, rides, and food stalls. The carnival is a great way for residents to come together and have fun.

Conclusion

Bukit Panjang Town is a vibrant and serene community that offers a high quality of life for its residents. The town boasts a range of amenities and facilities, including parks, schools, healthcare facilities, and shopping malls. It’s also well-connected with various transportation options, making it easy for residents to travel to other parts of Singapore.

Whether you’re a nature lover, foodie, or someone who loves to be a part of a close-knit community, Bukit Panjang Town has something for everyone. It’s a great place to live, work, and play, and it’s no wonder that it’s one of the most sought-after residential areas in Singapore.…

City Developments Limited (CDL) is one of the largest and most established property developers in Singapore. With a track record spanning over five decades, CDL has built an impressive portfolio of residential, commercial, and industrial properties across Asia, Europe, and the Middle East. In this article, we’ll take a closer look at CDL’s history, its business operations, and its future prospects.

History of CDL

CDL was founded in 1963 as a property development and investment company in Singapore. The company’s early projects included low-cost housing and industrial buildings. However, CDL’s first major breakthrough came in 1972 with the development of the prestigious Shangri-La Hotel Singapore, which helped establish the company’s reputation as a high-end property developer.

Over the years, CDL has expanded its operations beyond Singapore, with a presence in countries such as China, Australia, Japan, and the United Kingdom. Today, CDL is a diversified property and hospitality conglomerate with a market capitalization of over S$6.5 billion (as of March 2023).

Business Operations of CDL

CDL’s core business is property development, which accounts for about 70% of the company’s revenue. The company develops a wide range of properties, including residential apartments, landed homes, commercial offices, and retail malls. CDL also has a significant presence in the hospitality industry, owning and managing hotels and serviced apartments in Singapore, China, and the United Kingdom.

In addition to property development and hospitality, CDL is also involved in facilities management, property management, and project management. The company’s facilities management arm, M&E Contracting, provides mechanical and electrical services to building owners and tenants. CDL’s property management business manages a portfolio of over 18 million square feet of commercial and residential properties in Singapore. The company’s project management unit provides consultancy services for property development projects.

Sustainability Initiatives

In recent years, CDL has been recognized for its sustainability efforts. The company has made a commitment to be a leader in sustainability in the real estate industry, with a goal of achieving net-zero carbon emissions by 2050. CDL has set up an internal sustainability committee to oversee the company’s efforts in this area.

CDL’s sustainability initiatives include the adoption of green building technologies, the implementation of energy-efficient measures in its buildings, and the use of renewable energy sources such as solar power. The company has also launched several green building initiatives, including the CDL Green Gallery, an exhibition space showcasing green building technologies and sustainable practices.

Financial Performance

CDL has a strong financial track record, with consistent revenue and profit growth over the past decade. In 2021, the company reported revenue of S$4.4 billion and a net profit of S$506 million. CDL’s earnings per share have also been consistently strong, with a five-year average of S$0.25 per share.

CDL’s financial performance has been supported by a strong balance sheet, with low debt levels and a healthy cash balance. The company’s net debt-to-equity ratio is below 0.2, indicating a low level of financial leverage. CDL has also maintained a strong liquidity position, with a cash balance of over S$3.5 billion as of December 2021.

Future Prospects

CDL’s future prospects look promising, with a strong pipeline of property development projects in Singapore and overseas. The company has several high-profile projects in the pipeline, including the redevelopment of the Sengkang Central area in Singapore and the joint development of a residential project in Tokyo, Japan.

CDL is also well-positioned to benefit from the recovery of the hospitality industry which has been severely impacted by the COVID-19 pandemic. As vaccination rates increase and travel restrictions ease, CDL’s hotels and serviced apartments are expected to see an uptick in occupancy rates and revenue.

In addition, CDL’s sustainability initiatives are expected to enhance the company’s reputation and appeal to environmentally conscious consumers and investors. CDL’s commitment to achieving net-zero carbon emissions by 2050 is in line with the global trend towards sustainability and green investing.

However, CDL’s future prospects are not without risks. The property development industry is subject to regulatory and economic risks, including changes in government policies, interest rate fluctuations, and global economic uncertainty. In addition, CDL’s overseas operations are exposed to foreign exchange risks, which may impact the company’s financial performance.

Conclusion

City Developments Limited (CDL) is a leading property developer and hospitality conglomerate with a strong track record and promising future prospects. CDL’s diversified business operations, sustainability initiatives, and strong financial performance make it a desirable investment for both consumers and investors.

However, CDL’s future success will depend on the company’s ability to navigate regulatory and economic risks and adapt to changing market trends. CDL’s commitment to sustainability and green investing is a positive step towards building a resilient and sustainable business model for the future.…

A shophouse located at 52 Boat Quay has been sold for a whopping $37 million – a gain of $16 million for the seller. Branded a modern and well-equipped commercial space following extensive renovations in 2015, the six-storey property occupies a 1,119 sq ft site with an estimated total built-up area of 6,446 sq ft. Savills Singapore was responsible for brokering the deal.

The popular Italian restaurant Braci has taken residency on the top two floors, while an Izakaya bar occupies the ground floor. Corporate office tenants are located on the second and fourth floors.

The shophouse generated considerable interest from potential investors, according to Yap Hui Yee – executive director of investment sales and capital markets at Savills Singapore. She notes the property’s charms, adding that for it to be available for sale is a rarity, given that shophouses in the area are usually well-maintained.

A glance at the EdgeProp Research tool reveals few recent sales of commercial properties located on and near 52 Boat Quay. It’s a clear indication that the seller of this shophouse made a hefty profit by selling the property.

This unique opportunity is evidence of the demand for high-quality commercial shophouses in prime locations. Boasting of impressive returns, it’s not hard to see why such properties remain in such high demand.…

Jurong Condos are gaining traction among property buyers and investors in Singapore. Located in the western part of Singapore, Jurong is the largest industrial and residential area in the country, making it an attractive place for property buyers and investors. The area offers a variety of housing options, from high-end condos to more affordable apartments.

The Jurong area is close to the Jurong Industrial Estate, making it convenient for those who want to work and live in the same area. The area is also close to the MRT and other public transportation, making it easy to get around. There are also many amenities in the area, such as shopping malls, restaurants, entertainment, and parks.

Jurong condos are known for their good design and quality construction. Many of the condos offer views of the sea or the city skyline. The condos come in a variety of sizes and layouts, so buyers can find one that fits their needs and budget.

The prices of Jurong condos are quite affordable compared to other parts of Singapore. Prices can range from S$2,500 to S$3,500 per square foot. This makes them attractive for those who want to buy a condo in Singapore but don’t want to spend too much.

Jurong condos are becoming increasingly popular among property buyers and investors in Singapore. The area offers a variety of housing options, from high-end condos to more affordable apartments. The area is convenient for those who want to work and live in the same area. The prices are affordable for those who don’t want to spend too much. With all these advantages, it’s no wonder Jurong condos are gaining traction among property buyers and investors in Singapore.

Jurong condos are gaining traction among property buyers in Singapore, as they offer an attractive mix of affordability, convenience and accessibility. Located in the western part of Singapore, Jurong is a vibrant and growing residential area, with a number of new condominiums coming up in the vicinity.

The area is well-served by public transport, with the MRT lines, bus routes and expressways providing easy access to other parts of the city. Jurong is also home to a number of shopping malls and leisure centres, giving residents plenty of options for entertainment and dining.

Jurong condos offer great value for money, with prices lower than those in other parts of the city. This makes them an attractive option for first-time buyers, and those looking to invest in property. The area also has a range of different sizes and styles of condos, making it easy to find something to suit your needs.

The area is also becoming a popular choice for families, as it has a number of schools and educational institutions nearby. This makes it an ideal choice for parents who want their children to have access to quality education.

The government has also been investing heavily in the area, with new roads, parks and MRT lines connecting the area to other parts of the city. This has improved the quality of life in Jurong, and made it a more attractive option for property buyers.

Overall, Jurong condos seem to be gaining traction among property buyers in Singapore, as they offer a good mix of affordability, convenience and accessibility. With the government investing in infrastructure and the area becoming more family-friendly, it is likely that Jurong will continue to be an attractive option for those looking to buy property in Singapore.…