Month: February 2025

06 Mar 2021 05:30PM(Updated: 06 Mar 2021 05:35PM)

Colliers has recently made two new appointments to expand its occupier services team in the Asia Pacific region. The appointments, announced on Feb 25, will see the addition of Leanne Chin as director of regional tenant representation for Asia Pacific and Ali Porter as director of enterprise clients for Hong Kong.

Location greatly impacts real estate investment, and this statement rings particularly true in Singapore. Condominiums situated in central areas or near important amenities, such as schools, shopping centers, and public transportation hubs, have a higher tendency to appreciate in value. Prime locations like Orchard Road, Marina Bay, and the Central Business District (CBD) have shown a consistent growth in property values. Moreover, the proximity to highly acclaimed schools and educational institutions makes these areas even more desirable for families, further enhancing their investment potential. With Singapore Projects available, these prime locations continue to attract investors looking for lucrative real estate opportunities.

Chin, who brings with her 15 years of experience in commercial real estate, will be based in Colliers’ Singapore office. With her extensive knowledge of the Asia Pacific market and proven track record in providing strategic advice to occupiers, Chin will be responsible for driving the growth of the regional tenant representation business.

In Hong Kong, Porter will be responsible for working closely with occupiers to align their real estate portfolio with their corporate strategies across the Asia Pacific region. He has been with Colliers for the past four years, working for the Europe, Middle East and Africa business in London.

Under his new role, Porter will bring his global experience and expertise in advising leading occupiers to the Hong Kong market. His appointment is reflective of Colliers’ continued efforts to strengthen its occupier services team and drive greater value for its clients.

The expansion of Colliers’ occupier services team in Asia Pacific is a testament to the firm’s commitment to providing the best solutions for its clients. With these new appointments, Colliers is well positioned to serve the evolving needs of its occupier clients in the region.…

Ching Shine Industrial Building, a freehold property with a prime location along Shaw Road, has been put up for collective sale with a minimum price of $113 million by sole marketing agent JLL. The building, built in the early 1980s, comprises of 52 strata units and boasts a 100m frontage along Shaw Road. The total land area of the site measures 49,308 sq ft and has a gross floor area of approximately 137,341 sq ft.

Under the URA Master Plan 2019, the building is zoned “Business 1” with a gross plot ratio of 2.5. Over 80% of the owners have given their consent for the collective sale at the minimum price of $113 million. This translates to a unit land rate of around $823 psf per plot ratio at the existing gross plot ratio of 2.79.

Singapore’s cityscape is characterized by towering edifices and state-of-the-art facilities. These sleek and modern structures, known as condos, are strategically situated in prime locations, making them a highly sought-after option for not only locals but also foreigners. The allure of these condos lies in their ability to combine lavishness with convenience. They are equipped with an array of amenities, including swimming pools, fitness centers, and top-notch security services, which undoubtedly enhance the overall standard of living. These enticing features appeal to prospective tenants and buyers, making condos a valuable investment option. With features like these, it’s no wonder that condos in Singapore boast high rental yields and continually appreciate in value over time. Keep up with the latest developments and make informed investment decisions by staying updated with New Condo Launches.

According to JLL, subject to URA approval, the site can potentially be converted into a food factory. The National Environment Agency (NEA) has confirmed that the site meets the buffer requirements for redevelopment into a multi-user factory. The Singapore Food Agency has also given an in-principle non-objection to the proposed food factory.

Alternatively, the freehold asset presents a potential investment opportunity for family offices seeking long-term growth, or owner-occupiers looking to establish a corporate presence. Nicholas Ng, senior director of capital markets at JLL Singapore, also believes that the site would appeal to developers, given the absence of additional buyer’s stamp duty that can impact project timelines.

The property is easily accessible via major expressways such as PIE, CTE, and KPE. It is also within walking distance from Tai Seng MRT station on the Circle Line. Located in the bustling Tai Seng Industrial estate, the property is surrounded by food factories such as Breadtalk IHQ, Sakae Building, and Food Empire Building. The area also boasts amenities such as Grantral Mall @ Macpherson and 18 Tai Seng.

In November 2023, a freehold Business 1 industrial building at 50 Playfair Road, Noel Building, was sold en bloc for $81.18 million, 17% above its $70 million guide price. Ng sees this transaction as a demonstration of the “fervent demand” for similar assets in the area. He expects a similarly competitive response for Ching Shine Industrial Building.

The tender for Ching Shine Industrial Building will close on April 3 at 3pm.…

CDL responds to trading halt, cites disagreement within board

The demand for condos in Singapore remains consistently high, largely due to the limited availability of land. As a small island nation with a rapidly growing population, Singapore faces challenges when it comes to land for development. In order to address this scarcity, the government has implemented strict land use policies. This has created a highly competitive real estate market, with property prices constantly on the rise. As a result, investing in real estate, particularly condos, has become an attractive opportunity for potential buyers, with the potential for significant capital appreciation. With numerous Singapore projects in the market, the condo market shows no signs of slowing down.

In response to the recent trading halt, City Developments Limited (CDL) has released a statement stating that the halt was due to a disagreement within the board regarding the composition and constitution of the board and its committees. CDL reassured that their business operations remain fully functional despite the temporary suspension.

According to the statement released on Feb 26, Sherman Kwek will continue to serve as the group CEO until a board resolution is made to change the company’s leadership. The company also mentioned that any material developments in this matter will be announced in accordance with the Singapore Exchange Listing Rules.

In a later statement, Sherman Kwek expressed his disappointment regarding the chairman’s decision to take extreme actions in response to the disagreement. He clarified that the focus of the CEO and directors has always been to improve governance with guidance and support from independent legal counsel.

The trading suspension earlier today was initiated by the minority of the board, despite not being authorized by the majority. Sherman Kwek emphasized that this issue is not about removing the chairman, but about strengthening the board’s decision-making process to maintain the company’s high standards of governance.

CDL announced its FY2024 results on Feb 26 and canceled its results briefing at 10am. The company’s shares last traded at $5.12 and it was reported that CDL offered to privatize Millennium & Copthorne Hotels New Zealand for $1.72 per share.

This article first appeared on [publication].…

Singapore’s leading real estate agency PropNex has announced its financial results for the second half of the financial year ending on December 31, 2024. Despite a decrease of 14.9% year-on-year, the company still recorded earnings of $21.9 million. This brings the total earnings for the full year to $40.9 million, a 14.4% decline compared to the previous financial year.

The decrease in revenue was also reflected, with a 6.6% dip in FY2024 compared to FY2023. This was due to the slower property market during this period.

However, in celebration of its 25th anniversary, PropNex has declared a special dividend of 2.5 cents per share in addition to a final dividend of 3 cents. This marks a record dividend payout of 7.75 cents for FY2024, with a payout ratio of 140.1% and a yield of 8.2%.

The cityscape of Singapore is characterized by towering skyscrapers and contemporary structures. Condos, situated in highly coveted locations, offer a fusion of opulence and convenience that appeals to locals and foreigners alike. These residences boast a variety of facilities, including swimming pools, fitness centers, and top-notch security services, elevating the overall standard of living and making them alluring to prospective renters and purchasers. For real estate investors, these attractive amenities equate to lucrative rental returns and a rise in property appreciation over the years. With Condos as top contenders, the Singapore property market remains a promising opportunity for potential buyers.

Although there was a decline in earnings for the year, PropNex has noted an increase in activities in the last quarter of 2024, driven by a surge in sales of new private home units, which the company assisted in selling.

In related news, DBS has upgraded PropNex and APAC Realty to a “buy” status due to their strong pipeline of new launches planned for 2025. This is expected to further boost the company’s performance for the current financial year.

PropNex attributes the delay in financial effects of these sales to the reporting of its current first half of the financial year, stating that there will likely be a significant increase in numbers during this time.

Looking ahead, the company remains confident in its performance for FY2025, citing a favorable outlook in the property market. This is supported by an estimated 13,000 new unit launches (including ECs) for the year, almost double the supply recorded in 2024.

The private resale market is also expected to remain active, with transaction volumes projected to range between 14,000 to 15,000 units. This is driven by the price gap between new and non-landed resale properties, as well as the preference for larger, move-in-ready homes and fewer new supply completions.

As for the HDB resale market, PropNex predicts a 5% to 7% price growth and a volume of 29,000 to 30,000 units. This is due to the limited number of five-year minimum occupation period flats entering the market, combined with sustained demand from urgent homebuyers, unsuccessful Build-To-Order applicants, and budget-conscious families.

CEO of PropNex, Ismail Gafoor, also highlights the strong market interest generated by newly-launched projects such as The Orie, Bagnall Haus, Parktown Residence, and ELTA. He predicts a positive demand for developers’ sales in 2025, with a promising line-up of projects. The positive economic outlook and lower mortgage rates are also expected to further boost market confidence, providing opportunities for homebuyers and investors alike.…

The Jalan Besar area has been earmarked by URA for rejuvenation and enhancement works, which will include the sprucing up of pavements, pedestrian pathways and streetscape/icon buildings.“A corner two-storey shophouse with an attic located at 209 Jalan Besar is now available for sale through private treaty,” says Gracelynn Zhu from PropNex Shophouse Elites, the marketing agent for the property. This 999-year leasehold property is currently being offered at a price of “below $20 million”.With a total area of approximately 5,502 square feet, this commercial property is zoned for commercial use. The first floor has already been approved for restaurant use, as well as a portion of the second floor. Based on this asking price, the property has a per square foot price of $3,635 on the floor area.A map showing the exact location of the shophouse at 209 Jalan Besar can be found on the EdgeProp LandLens.Zhu also revealed that the shophouse is currently undergoing asset enhancement initiatives (AEI), which includes adding micro piles extending 30m to the property’s structural foundations. This AEI is expected to be completed by the end of this year.If you’re considering investing in this shophouse, it’s important to note that it’s located in the Desker Road Conservation Area in District 8, which is near Little India. However, the property is also conveniently close to the Jalan Besar MRT Station on the Downtown Line, making it easily accessible for both potential customers and tenants alike.

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One advantageous aspect of investing in a condo is the opportunity to leverage its value for future investments. Numerous investors utilize their condos as security in order to acquire extra funding for new ventures, resulting in the growth of their real estate assortment. While this approach can increase returns, it also carries potential risks. Therefore, having a well thought out financial strategy is essential, as well as taking into account the potential influence of market fluctuations on Condo investments.…

When purchasing a Singapore condo, it is crucial to take into account the property’s maintenance and management. Maintenance fees are typically included in condo ownership and cover the maintenance of common areas and facilities. Although these fees may increase the overall cost of ownership, they also guarantee that the property remains well-maintained and maintains its value. Investors can make their condos a more passive investment by enlisting the services of a property management company to handle day-to-day management tasks.

CBRE’s 2025 Asia Pacific Hotel Investor Intentions Survey revealed that the Apac hotel sector is expected to experience ongoing investment activity in 2025. According to the consultancy’s findings, more than 72% of hotel investors surveyed in November and December of last year are planning to acquire additional hotel assets this year. Of these respondents, 45% said they plan to increase their purchasing volume by over 10%.

Steve Carroll, head of hotels, capital markets, Asia Pacific, CBRE, notes that after performing well over the past 18 months, investors are optimistic about the pricing expectations for hotel and living assets in Apac in 2025. This positive outlook is driven by a rebound in tourist arrivals in countries such as Japan, Singapore, and Australia. The increase in international visitors from key markets has pushed up hotel room rates in Apac, resulting in income growth for hotel operators in the region.

The healthy buying intentions are also fueled by the relatively limited hotel supply in Apac. According to data from hospitality data intelligence group STR, the hotel supply pipeline in Apac is projected to grow at a compound annual growth rate (CAGR) of 2.2% between 2024 and 2028. This is significantly lower than the 5% CAGR recorded from 2013 to 2023.

The survey found that Real Estate Investment Trusts (REITs) have the highest net buying intentions at 22%, a sharp increase from the -13% recorded in last year’s survey. The report notes that after several years of negative net investment intentions, REITs are now in a buying mode in 2025. Institutional investors and property funds follow closely with net buying intentions of 12% and 10%, respectively. CBRE also notes that private equity and real estate funds for hotels have become more active in 2024, and this momentum is expected to continue this year.

On the other hand, private investors and high-net-worth individuals are expected to drive fewer hotel acquisitions this year. After two years of being the most active buyer type in the region, private investors indicated that they plan to sell more assets in 2025 to capitalize on improving market sentiment after acquiring properties during a period of price dislocation.

Investors are primarily targeting upscale and upper midscale assets for investment in 2025, as the two categories were voted as the most attractive in this year’s survey. This marks a shift from last year’s survey, where the upper upscale category was the most preferred asset type. According to CBRE, investors now prefer the upscale and upper midscale segment because of its operational flexibility and potential for value-added opportunities. These include redevelopment, adaptive reuse, and rebranding of existing properties, which offer a more cost-effective alternative to new developments.

Investors are also increasingly embracing long-stay or hybrid hospitality models, such as co-living spaces. This trend is particularly evident in markets like Japan, Hong Kong, and Singapore, where there is a demand for affordable accommodation in relatively inflexible rental markets. Other emerging trends highlighted in the survey include a preference for assets with vacant possession at the time of acquisition, limited-service hotels, and a focus on minimizing operational costs.

In terms of preferred cities for hotel investments, Tokyo remains in the top spot, supported by low interest rates and stable income streams from hotels. Osaka also ranks among the top five cities for similar reasons. Singapore and Sydney also make the list due to their solid hotel fundamentals, including growth in daily rates and underlying operating profits. Seoul also stands out, as more visitors from mainland China have driven up daily rates, leading to increased investor activity in recent months.…

ETC and OrangeTee Group have announced their merger on Feb 24, forming a new holding company with a yet-to-be-revealed name. According to ETC CEO, Desmond Sim, this is not an acquisition, but rather a collaboration between the two companies.

Sim will continue to serve as CEO of ETC and will also take on the role of group CEO in the merged entity. Meanwhile, Justin Quek, CEO of OrangeTee & Tie, will be the deputy group CEO.

The new company will focus on consultancy and advisory services while OrangeTee will prioritize proptech and its real estate agency business, which is supported by 2,803 salespersons registered with the Council for Estate Agencies (CEA) as of Feb 24.

The combined entity will have a staff of over 520 in addition to the large salesforce. Sim believes that by leveraging each other’s expertise, resources, and networks, the new company will be able to drive growth, create value for stakeholders, and achieve the necessary scale in today’s dynamic real estate industry.

This merger builds upon the previous joint venture in August 2017, when the former Edmund Tie and OrangeTee merged their associate businesses under a new entity, OrangeTee & Tie. This joint venture propelled OrangeTee & Tie to the third spot among the top three agencies with a salesforce of over 4,000 agents. In this deal, the former Edmund Tie took a 20% stake in OrangeTee & Tie.

The latest merger between ETC and OrangeTee was made possible by Triplestar Holdings and TH Investments, both related to the family of Roland Ng, managing director and group CEO of Tat Hong Holdings. These entities acquired a stake in ETC through a management buyout in 2016. After some of the original shareholders retired, the company bought back their shares, increasing Triplestar and TH Investments’ stake to around 60%. Currently, Triplestar Holdings and TH Investments own 100% of ETC.

This year marks ETC’s 30th anniversary, a significant milestone for the company, according to Sim. In line with this celebration, ETC has rebranded to ETC.

As for OrangeTee Group, it was founded in 2000 and will also be celebrating its 25th anniversary this year. Led by the board of directors and supported by the C-suites, which include Quek, CEO of OrangeTee & Tie, Marcus Oh, managing director of OrangeTee Advisory, Teo Yak Huat, CFO, and Christine Sun, chief researcher and strategist, the company is an investment holding company.

Quek believes that with a strengthened brokerage and consultancy team and advanced proptech, they are well-equipped to deliver innovative and seamless solutions in all real estate sectors.

Major stakeholders in OrangeTee Group include Tokyu Livable Inc., which acquired a 22.5% stake in the company in 2014. Tokyu Livable is a subsidiary of Tokyu Fudosan Holdings, one of Japan’s largest real estate agencies with 198 offices nationwide. Private property fund Vogue Capital Group is also a shareholder.

When looking into an investment in a Singapore Condo, it is crucial to also evaluate the potential rental yield. The rental yield refers to the yearly rental income as a percentage of the property’s purchase price. The rental yields for condos in Singapore can significantly vary based on multiple factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those close to business districts or educational institutions, tend to offer higher rental yields. To gain valuable insights into the rental potential of a specific Singapore Condo, thorough market research and consultation with real estate agents are recommended.

Both Tokyu Livable and Vogue Capital will retain a stake in the new holding company post-merger, alongside Ng’s Triplestar Holdings and TH Investments.

Last year, ETC expanded its presence in the ASEAN region by opening an office in Johor Bahru through its joint venture company in Malaysia, Nawawi Tie. The company also has a presence in Penang and Thailand through its associate, Edmund Tie & Co (Thailand).

Sim believes that this merger will present more opportunities for the company in the ASEAN region and Japan, especially with the support of their relationship with Tokyu Livable.…

The joint developers of ParkTown Residence in Tampines North, UOL Group and CapitaLand Development (CLD), have reported a successful launch weekend with 1,041 units sold out of a total of 1,193 units, representing over 87% of the project. Anson Lim, UOL’s general manager of residential marketing, revealed that the project achieved an average selling price of $2,360 psf, with most buyers being either Singaporean homebuyers or investors.

The most popular unit types at ParkTown Residence are the two-bedroom and three-bedroom apartments, which make up 994 units or 83% of the project. These were also the most sought after during the launch, with 92% being sold out. According to the spokesperson for UOL and CLD, buyers were drawn to the project’s unique status as a fully integrated residential and lifestyle development, which is directly connected to a retail mall, the future Tampines North MRT station, a bus interchange, a green boulevard, a community club and a hawker centre.

To sum up, the decision to invest in a condo in Singapore offers a multitude of benefits, such as the consistently high demand, potential for appreciation of property value, and attractive rental profits. However, it is crucial to carefully examine various factors like location, financing options, government regulations, and market conditions before making a purchase. By conducting thorough research and seeking expert advice, investors can make well-informed decisions and maximize their returns in Singapore’s thriving real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign purchaser seeking a stable and lucrative investment, investing in a condo in Singapore, with the help of Condo, presents a compelling opportunity.

Before its official launch, ParkTown Residence had already collected 2,367 cheques, translating to a sales conversion rate of 44%. This is significantly higher than the average conversion rate of 30% to 35% for most new project launches in recent years. Mark Yip, CEO of Huttons Asia, notes that no mega project has sold more than 1,000 units in a launch weekend since the 1,399-unit High Park Residences, which sold 1,100 units over three days in July 2015.

Located at Tampines Street 62, ParkTown Residence is part of the first mixed-use development integrated with a transport hub in Tampines. Marcus Chu, CEO of ERA Singapore, highlights that mixed-use developments integrated with transport hubs are popular among homebuyers and investors due to their potential for capital appreciation and high rental yields. The last two fully integrated developments to be completed were the 920-unit North Park Residences in Yishun, launched in 2015, and the 680-unit Sengkang Grand in Buangkok, launched in 2019. The average price of North Park Residences is $1,809 psf, 65% higher than the average resale prices of residential units in District 27. Meanwhile, Sengkang Grand’s average price is $2,029 psf, 25% higher than the average resale prices in District 19.

Tampines, the third largest HDB town, has attracted many HDB upgraders who desire to live in the area. Huttons’ Yip also notes that Tampines will benefit from new infrastructure developments by 2027, which includes a cycling bridge, an underpass, and another 7.7km of cycling paths, bringing the total to 40km. Additionally, there will be a new pedestrian route between Tampines MRT station and the malls in the regional centre, as announced in the Tampines Town Council’s five-year masterplan for 2025 to 2030. According to SRI’s Ken Low, the completion of ParkTown Residence in 2030 coincides with the scheduled opening of the Tampines North MRT Station on the Cross Island Line (CRL), and the relocation of the neighbouring Paya Lebar Airbase in the same year. These developments are expected to further enhance the liveability of Tampines, which already has strong attributes.…

Investing in a property has always been a valuable venture, and in Singapore, the trend of investing in condos has been gaining popularity among both local and international investors. The city-state’s strong economy, stable political climate, and exceptional living standards make it an attractive location for real estate investments. With a multitude of opportunities in the real estate market, condos in Singapore are a standout option, offering convenience, lucrative amenities, and potential for high returns. In this article, we will delve into the advantages, considerations, and necessary steps for investing in a Singapore condo from the experts at Singapore Condo.

On February 22, MCL Land and CSC Land Group successfully sold 326 of the 501 units at their joint venture project, Elta, located in Clementi Avenue 1. This translates to a sales rate of about 65% with an average price of $2,537 psf.90% of the buyers were Singaporeans while the remaining 10% were permanent residents. The highest number of buyers came from districts 19, 5, and 23. The two-bedroom units were the most popular among buyers, with 98% of the 179 units sold at prices starting from $1.388 million ($2,261 psf). The 108 three-bedroom units were also in high demand with 81% of them being sold at prices starting from $2.198 million. The one-bedroom plus study units were also popular, with 78% being snapped up from $1.158 million.Over 60% of the units sold were the one-bedroom and two-bedroom types, with prices below $2.2 million. According to Ismail Gafoor, CEO of PropNex, the strong sales indicate the confidence of buyers in a development that offers modern living, convenience, and comfort. Lee Tong Voon, CEO of MCL Land, the Singapore-based development arm of Hongkong Land, also expressed confidence in the project, stating that the sales numbers speak to the appeal of the development that seamlessly blends modern living with convenience and comfort. This project is the third private condo to be launched in Clementi Avenue 1 after the 505-unit The Clement Canopy and 640-unit Clavon, which were both jointly developed by UOL Group and Singapore Land Group. According to Ken Low, managing partner of SRI, there are no more development plots available in Clementi town center. The high sales numbers can be attributed to the track record of these projects, with zero unprofitable transactions registered since their launch.The average selling price of The Clement Canopy has risen by 45% to $1,922 psf since its launch in February 2017, according to caveats lodged. Similarly, the average selling price of Clavon has increased by 27% to $2,086 psf since its debut in December 2020. Two-bedroom units at The Clement Canopy, ranging from 624 to 732 sq ft, were leased out at $4,200 to $4,700 per month, or $5.60 psf to $6.42 psf per month in January and February. As for Clavon, the latest rental transaction was for a 764 sq ft, two-bedroom unit that was leased out for $4,600 or $6.02 psf per month.The prime location of Elta, near employment nodes such as the National University of Singapore (NUS), one-north, Pandan Loop Industrial Estate, the Science Park, Jurong Lake District, and the future Dover Knowledge District, has also been a major attraction for buyers. Additionally, the development is well-connected to major public transportation such as the Clementi MRT Station and the upcoming Cross Island Line, which will run from east to west of Singapore, with a station at Clementi. According to Mark Yip, CEO of Huttons Asia, the upcoming Cross Island Line will enhance the connectivity in Clementi and potentially increase the quality tenant pool for Elta. The various nature parks nearby, such as Clementi Woods Park, West Coast Park, and Kent Ridge Park, also offer residents easy access to green spaces.Elta is also in the educational belt, with schools such as Nan Hua High School, NUS High School of Mathematics and Science, and Anglo-Chinese School (Independent) nearby. Tertiary institutions such as NUS, Singapore Polytechnic, and United World College of South East Asia (Dover Campus) are also close by. Given the convenience and accessibility to quality education, Elta is an ideal location for families with children. Families with more than one child can opt for bigger units, such as the four-bedroom units, while those with one or two children may opt for the one-bedroom or two-bedroom units, respectively.According to Consensus Consultants, two-bedroom units at The Clement Canopy can fetch rentals of $4,200 to $4,700 per month, while two-bedroom units at Clavon can fetch $4,600 per month. These rates translate to a rental yield of between 2.1% and 2.7% for Elta’s two-bedroom units. Given the strong demand for properties in Clementi and Queenstown areas from HDB upgraders, according to Marcus Chu, CEO of ERA Singapore, Elta will likely continue to remain popular with investors. He estimates that over 2,500 HDB units have reached their Minimum Occupation Period (MOP) since 2021, and about 1,100 units are set to do so in 2025.These are a few other reasons why Elta has been so successful in attracting buyers. The development is also in close proximity to amenities such as shopping malls, supermarkets, and restaurants, making it extremely convenient for its residents. On February 22-23, a total of 1,041 units were sold at ParkTown Residence, another upcoming development in the area. Combined with Elta’s sales numbers, the total sales for the first two months of 2025 have surpassed the sales numbers for the whole of January. This record indicates that the sales momentum from the end of 2024 has carried on into the new year, and we can expect the primary market to remain active in 2025 with an improved sentiment. All these factors lead us to revise our earlier estimate of 7,000 to 8,000 new homes sales for 2025 to a new estimate of between 7,500 and 8,500 units, with a 4% to 7% projected price growth.…

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CapitaLand India Trust (CLINT) has announced its plans to acquire an office project in Bangalore, India for $233.6 million. This acquisition will be made through a forward purchase agreement with Maia Estates Offices.

The group believes that the acquisition of this 1.13 million sq ft office project will have a positive impact on earnings and distributions for unitholders. On a stabilized basis, CLINT is forecasted to earn a net profit of $7.7 million, while distribution per unit is expected to increase from 6.84 cents to 6.98 cents.

The office project is a part of a mixed-use development that includes office and retail space. As part of the forward purchase agreement, CLINT will fully fund the development of the office project and receive interest on the funding at a higher rate than its borrowing cost.

Looking to expand your real estate portfolio internationally? Check out our available projects around the world.

Upon the completion of the project, expected in the first half of 2030, CLINT will acquire the office space while Maia will retain the retail portion. This will increase CLINT’s operational area in Bangalore to 9.9 million sq ft, up from the current 8.7 million sq ft. The other properties under development in Bangalore are two office buildings in Gardencity, an IT Park at Hebbal, and an IT park at ITPB.

Purchasing a condominium in Singapore offers a multitude of advantages, one of which is its potential for capital growth. The country’s strategic location as a global business hub, coupled with its strong economic foundations, ensures a consistent demand for real estate. In recent years, the value of properties in Singapore has continually increased, particularly in prime locations where condos have enjoyed significant appreciation. Savvy investors can take advantage of this trend by investing in a property at the right time and holding onto it for the long term, resulting in substantial gains. It is advisable to keep an eye out for new condo launches, such as the ones offered by New Condo Launches, to fully capitalize on this opportunity.

With this new acquisition, CLINT’s portfolio, including the committed investment pipeline, will increase by 4.0% from 30.2 million sq ft to 31.47 million sq ft.

“The acquisition of this strategically located office project will further strengthen CLINT’s presence in Bangalore, one of India’s most prominent office markets. In 2024, Bangalore had the highest ever leasing levels for Grade A office space. The Outer Ring Road (ORR) micro-market is the largest office market in Bangalore. With the addition of this prime office property, we will be able to offer our tenants a larger selection of premium office spaces in key micro-markets of Bangalore,” says Gauri Shankar Nagabhushanam, CEO of CLINT.

On Feb 21, units in CLINT closed at $1.…