Property highlights of the week from Dec 3 to Dec 7:
1. Commercial development site in Queenstown for $200 mil
A 99-year leasehold site at the corner of Commonwealth Avenue and Margaret Drive is on the market for $200 mil. The site’s tenure started on January 1 1975, and the 32,305 sq ft vacant plot used to be the site of the former Queenstown Cinema. Cushman & Wakefield (C&W) is the marketing agent for the sale.
Located 300m to the Queenstown MRT station, the site has been granted Written Permission to be developed into a six-storey commercial building comprising shops, restaurants, community institutions, and a cineplex with basement car parking lots.
2. Lowest number of private residential units released since 1H2007 GLS programme
The government has released its list of government land tenders that will launch in the first six months of 2019. The 1H2019 Government Land Sales (GLS) Programme includes five sites on the Confirmed List and nine sites on the Reserve List. When developed, they could yield up to 6,475 private residential units, 1,115 hotel rooms, and 925,695 sq ft of commercial space.
3. Logistics networks in Singapore can be improved by technologies and consolidation: Lawrence Wong
At the launch of an exhibition on urban logistics on Dec 4, minister for national development Lawrence Wong spoke of implementing new technologies to improve the logistics networks in Singapore as an important economic strategy.
This will optimise the delivery of goods around the country, help businesses lower costs, and enhance Singapore’s competitiveness as a regional hub, he says. One area to improve on is last mile delivery for consumers, particularly for small items.
4. JustCo opens two co-working spaces in Jakarta
Home-grown co-working operator Just- Co has opened two new co-working spaces in Jakarta, marking its first foray into Indonesia. Located at AIA Central and The Plaza Office Tower, the co-working spaces occupy 17,222 sq ft and 20,990 sq ft respectively.
The co-working space at AIA Central is located within the Sudirman Business District, and features a mother’s room, phone rooms and quiet pods.