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Kingsland's $100m data centre up and running

Real estate developer Kingsland Development has invested more than $100 million developing a six-storey wholesale data centre in Jurong. The first customers, which include telcos, e-commerce firms and banks, moved in after the official opening on Wednesday. Kingsland founder and chairman Sok Hang Chaw said the facility is almost fully let. He said he built the data centre because he believes the high-tech industry is more stable and would offset the more cyclical nature of the property business. ...more

Architects who helped build nation

If the name Spur does not ring a bell for Singaporeans born after independence, then consider the well-known names behind the independent think-tank, a major voice on urban planning issues in the 1960s and 1970s. Architects William Lim, Tay Kheng Soon and Koh Seow Chuan were among the members of the Singapore Planning and Urban Research Group, Spur for short, who reunited for a rare panel discussion at the NUS Museum on Wednesday. Mr Edward Wong, the former president of the Singapore Institute o ...more

Commerz Real fund's half stake in 78 Shenton Way on the market

AN open-ended global fund managed by Commerz Real of Germany is said to be looking to sell its half stake in 78 Shenton Way in the Tanjong Pagar area. The sale will be through disposal of 50 per cent of the shares in the company that owns the office development, which comprises two towers built at different times. The site has a balance lease term of 67 years. BT understands that the guide price for Commerz Real's half stake in 78 Shenton Way is S$335 million. This values the entire property (10 ...more

CDL's Kwek Leng Joo wins President's Award for the Environment

Singapore CITY Developments Ltd (CDL) deputy chairman Kwek Leng Joo is among four winners to be conferred the President's Award for the Environment (PAE) 2015, Singapore's highest environmental accolade. Organised by the Ministry of the Environment and Water Resources (MEWR), this annual award recognises individuals, educational institutions and organisations for their outstanding contributions towards environmental and water resource sustainability in Singapore. This year marks the award's tent ...more

Local industrial property firm opens first data centre

Singapore A HOMEGROWN industrial property developer is investing more than S$100 million into its new data centre venture, with the hope that it will ultimately account for more than half of the company's revenue. The 208,000 square foot, five-storey Kingsland Data Centre, which officially opened its doors on Wednesday, also marked Kingsland Development's first foray into the technology sector. The company already has experience in industrial warehousing and hospitality developments in Singapore ...more

Freehold building at Eunos for sale, asking S$14m

Singapore A THREE-STOREY standalone freehold building at 8 Jalan Ismail, currently known as The Mattress Centre, has been put up for sale via an expression of interest exercise. The seller is looking at an indicative price of S$14 million. The property, five minutes from Eunos MRT station by foot, is currently zoned 'residential' with a plot ratio of 1.4 and sits on a land area of about 7,664 square feet (sq ft) with a gross floor area (GFA) of about 9,248 sq ft. Its plot ratio means that it can ...more

Windsor Park GCB sold for $21.8m

In a sign of some renewed interest in Good Class Bungalows (GCBs), one in Windsor Park estate has been sold for $21.8 million, the first GCB transaction in the estate since early 2013. The freehold property at 122 Windsor Park Road, off Upper Thomson Road, has a land size of 20,383 sq ft, which works out to a price of about $1,070 per sq ft (psf). This is just below the two transactions in January 2013, when 2 Windsor Park Hill was sold for $25.3 million or $1,125 psf; while 55 Windsor Park Road ...more

Land costs hurting developers' profits

Land costs in Singapore remain high but new home prices are falling. That spells crimped profit margins for developers, just as competition for land impedes their ability to restock at a reasonable cost, according to a new study by BNP Paribas. This could slow down growth for these developers, said the firm's analyst, Mr Chong Kang Ho. However, the shares of listed developers have largely priced in the upcoming oversupply of private homes, which will help maintain a stable outlook on the sector, ...more