Property Update (6 April 2015)

First public exhibition on Jurong Lake Gardens West at Jurong Point | channelnewsasia.com

A roving exhibition on Jurong Lake Gardens West at Jurong Point showcases proposed concept ideas and allows the public to share feedback on suggested plans.


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Google, Microsoft could head to MBC II | businesstimes.com.sg

SINGAPORE : The attraction of a spanking new business park development in the suburbs at about half the rentals of Grade A CBD offices could lure Google, Microsoft and other tenants to the second phase of Mapletree Business City.

Located in the Pasir Panjang Road/Alexandra Terrace area, Mapletree Business City II (MBC II) will have about 1.15 million square feet net lettable area (NLA) of business park space when completed. The project is slated to receive Temporary Occupation Permit around the middle of next year.

BT understands that Google is in the advanced stages of sealing a lease for about 200,000 sq ft or more at MBC II – which will provide a more campus-style suburban setting for the Internet search-engine giant. Read more here >>

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Weak demand for Alana cluster housing project | channelnewsasia.com

SINGAPORE : As a sign of the sluggish property market in Singapore and competition from properties across the Causeway, sales of Far East Organization’s Alana@Sunrise Terrace have been lacklustre.

This was despite the developer dangling the carrot of full reimbursements of the Additional Buyer Stamp and Buyer Stamp duties since the fourth quarter of last year.

The cluster housing project in Yio Chu Kang was launched in the first half of last year and TODAY understands that so far, only a quarter of its 78 units have been sold.

To attract buyers, the developer gave more discounts at its open house during the weekend, matching what its rivals are doing. Read more here >>

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World’s Most-Loved Property Stocks Tap Indonesian Building Boom | bloomberg.com

INDONESIA : Falling interest rates, an expanding population and a government-sponsored building boom are turning Indonesia into the world’s favorite place to buy property stocks.

Developers on the Jakarta stock exchange, including PT Lippo Cikarang and PT Alam Sutera Realty, have the highest average analyst ratings among global peers and the most buy recommendations of any industry group in Indonesia, according to data compiled by Bloomberg. The Jakarta Construction, Property & Real Estate Index has advanced 25 percent over the past 12 months, twice as much as the nation’s benchmark index.

Indonesia’s central bank cut borrowing costs in February for the first time in three years, improving the outlook for Southeast Asia’s largest economy as President Joko Widodo seeks to lift growth to 7 percent. Singapore’s sovereign wealth fund and Indonesia’s state pension agency are both increasing investments in the nation’s property market as Widodo boosts infrastructure spending and the world’s fourth-biggest population keeps expanding. Read more here >>


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Miami (and N.Y.) are top U.S. choices for international buyers of super-luxury real estate | miamiherald.com

MIAMI, US : When the world’s wealthiest 1 percent look for third, fourth or fifth homes, Miami and New York are the only U.S. cities with both the cosmopolitan lifestyle and the real estate to satisfy them. Offerings in the Los Angeles, Aspen, Houston, Chicago and San Francisco markets are rarely large or lavish enough for clientele seeking trophy properties with exceptional amenities and personal services.

My 24 years in luxury real estate sales have given me a global viewpoint, supported by extensive travels, an MBA and a business background. Understanding what wealthy international and domestic buyers do, and where they go, is the key to matching them with the right purchase decisions.

Miami affords the ultra-wealthy luxury along with the financial stability of living in the United States. These attributes give buyers, especially those from colder climates, a double incentive to purchase real estate here. Read more here >>

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