URA has stepped up their checks since last year on possible misuse of industrial space by breaching the 60 -40 rule. Even developers have not been spared the rod. Midview Development and Sin Soon Lee Realty are the two developers that have been warned. Both set up their office in a strata industrial building they…
INDUSTRIAL property prices fell unexpectedly in the last quarter of 2012 – the first decline in three years and a sign that caution is taking hold among investors. Prices fell 0.7 per cent compared with the previous three months after climbing for 12 straight quarters, according to the Urban Redevelopment Authority (URA) yesterday. Overall, the…
The government has announced the 7th round of property cooling measure since 2009 and it is the most comprehensive set of measures so far. These measures take an immediate effect from 12 Jan 2013.
Despite the governmental measures such as halving the maximum industrial land tenure to 30 years, and introducing restrictions on subdivision in selected sites and requiring strata units to be at least 150 sq m, prices of industrial properties continued to rise rapidly, with the industrial property prices increasing by 26.7% from Q1 –Q3, and rents…
The shabby and rambling Defu Industrial Estate is all set to be transformed into a gleaming, modern industrial park – with five times the current factory space and a city centre by its side. The initial phase is expected to cost $1.3 billion. The transformation will take place over the next 15-20 years, with existing…
Owners hold commercial, industrial units for barely three months before flipping them. SPECULATION seems rife in the strata- titled commercial and industrial property sectors with many new units being held for barely three months before they are flipped. Commercial units launched this year are being held for only an average of 60 days before being…
INDUSTRIAL landlord JTC will continue to ensure a steady supply of space for small and medium-sized enterprises (SMEs), Trade and Industry Minister Lim Hng Kiang noted in a written parliamentary reply released yesterday. Click here for a full release of the statement. He was responding to Ang Mo Kio GRC MP Inderjit Singh, who asked…
The rising number of investors flipping their industrial units for a profit has caught the eye of the Government. It has warned that fresh measures might be introduced if prices do not moderate. A Ministry of Trade and Industry spokesman told The Straits Times it has observed a “rising incidence of short-term flipping in the…
12 June 2012 New guidelines on allowable spaces for religious activities The Urban Redevelopment Authority (URA) and the Ministry of Community Development, Youth and Sports (MCYS) have jointly issued new guidelines on land development and use of space for religious activities. These guidelines will take immediate effect. 2. The Government acknowledges the need for space…
