Archive for category: Misc

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Situated on Jalan Loyang Besar in District 18, Coastal Cabana is set to provide its inhabitants with a coveted and lasting way of life, thanks to the newly launched town-wide vision. This strategic positioning, carefully crafted by the Urban Redevelopment Authority (URA), solidifies the adjacent Pasir Ris precinct as a well-rounded and family-friendly town, with enhancements in transportation, green spaces, and community amenities. Against this backdrop, the residents of Coastal Cabana are in for a treat with the convenience of having various entertainment options nearby, such as Downtown East, as well as peaceful natural areas like Pasir Ris Park and Pasir Ris Beach. The well-planned transportation system also reduces travel time to important destinations like schools, workplaces, and shopping centers. Additionally, the reliable developer, Qingjian Realty, further elevates the value of Coastal Cabana Pasir Ris with their expertise in handling large-scale projects, which complements the forward-thinking infrastructure plans. Ultimately, Coastal Cabana offers its residents a holistic and satisfying living experience, making it the perfect abode for both potential buyers and current homeowners looking to upgrade. For more information, visit Coastal Cabana Pasir Ris.

A mixed-use development located at 190 Clemenceau Avenue, Singapore Shopping Centre, has recently been put up for collective sale with an asking price of $200 million. The seven-storey building is situated opposite the Dhoby Ghaut MRT Interchange, in close proximity to the popular Orchard Road shopping district.

Compared to its last collective sale attempt in February 2020, the asking price is significantly lower. At the time, the property was offered for sale with a reserve price of $255 million, with provisional approval for the site to be rezoned as a hotel.

Singapore Shopping Centre sits on a corner land plot of 26,369 sq ft and is zoned for commercial use with a 4.2 plot ratio. It currently has a gross floor area (GFA) of approximately 135,264 sq ft, comprising retail and office components.

The development holds a 99-year lease from 1948, and ETC, the firm handling the collective sale, has already submitted an enquiry to the authorities for a lease top-up to a fresh 99 years. ETC notes that in the previous collective sale attempt, the authorities had indicated support for the renewal of the lease.

Recently, the Urban Redevelopment Authority (URA) has also shown support for either redeveloping the site for hotel use at the same plot ratio, or repurposing the existing building for hotel use with a higher equivalent plot ratio of around 5.13.

Based on the asking price of $200 million, the land rate is estimated to range from $2,800 to $3,500 psf per plot ratio, depending on the proposed land use and development intensity, according to ETC.

Swee Shou Fern, the head of investment advisory at ETC, believes that the site’s connectivity and its close proximity to the Orchard Road shopping district, as well as cultural institutions like The Istana, make it an attractive spot for both commercial and hospitality concepts. She adds that with the transformation of the precinct, such as the addition of green public spaces like Dhoby Ghaut Green and upcoming new developments, there is strong potential for the site to become a new anchor for this end of Orchard Road.

The tender for Singapore Shopping Centre will close on October 28.