daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > World Development News Forums > General Urban Developments > DN Archives



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old September 26th, 2005, 03:09 PM   #81
redstone
Lurker
 
redstone's Avatar
 
Join Date: Nov 2003
Location: Singapore
Posts: 14,056
Likes (Received): 52

I think I'm starting to see the moulds for the core?
redstone no está en línea   Reply With Quote

Sponsored Links
Old October 10th, 2005, 05:02 PM   #82
redstone
Lurker
 
redstone's Avatar
 
Join Date: Nov 2003
Location: Singapore
Posts: 14,056
Likes (Received): 52

Singapore puts its wind behind The Sail
By Sonia Kolesnikov-Jessop International Herald Tribune

THURSDAY, OCTOBER 6, 2005


SINGAPORE Envisioned as the "signature image" of Singapore's 21th-century landscape, Marina Bay is being talked about as the central feature of efforts to transform the city-state into a global city.

The development of reclaimed land next to the central business district will incorporate an integrated resort and casino, residential property, a business and finance center and three waterfront gardens. "Our vision for Marina Bay is that of a 24/7 live-work-play environment that epitomizes the global city we envisage Singapore to be," said Mah Bow Tan, minister for national development.

One of the first buildings to be completed will be the luxury residential complex The Sail @ Marina Bay. The two glass-clad towers resembling sails catching the wind is the vision of the American architect Peter Pran.

The first of the structures, the 70-story Marina Bay Tower, will soar to 245 meters, or 800 feet, as the tallest residential building in Singapore and, developers say, the 10th-tallest in the world. It will be complemented by the 63-story Central Park Tower, with the entire development to be complete in 2009, around the same time as the casino-resort.

"The design represents a new international vision for Singapore; an innovative building design not seen before, redefining the city. A building that comes to mind when people think of Singapore," explained Pran, noting that his design echoes the nearby waterfront scene. The authorities are building a barrage across the mouth of the Marina channel, so the basin will become an inland reservoir free of tidal fluctuations, making it ideal for large water events.

Beyond its aesthetics, what makes this property hot is its central location, said Peter Ow, executive director of residential properties at Knight Frank real estate agency. Also, "most of the units are of a smaller size, one or two bedrooms, and this kind of development will appeal very much to expatriates, singles and young couples, who want to live in the city. Owners should get a good rental," Ow noted.

Buyers have snapped up all but a couple of the 681 units in the Marina Bay Tower. Prices ranged from 530,000 Singapore dollars, or $313,000, for a one-bedroom unit to 5.25 million Singapore dollars for a penthouse, with an average price of 930 to 950 Singapore dollars per square foot. About 40 percent of the buyers were foreigners; one floor sold for 9.4 million Singapore dollars to British investors.

Chia Ngiang Hong, group general manager at City Developments Limited, said the company was surprised how quickly the Marina tower sold and may begin sales on the 450-unit second tower earlier than planned. "We're filtering a lot of inquiries and we already have over 200 people on a waiting list," Chia said.

More than 60 percent of the apartments will have panoramic views of the small bay and the Esplanade Theater on its far side. From the upper floors the views will reach to Malaysia and Indonesia. Also, the complex will have direct access to the Raffles Place subway station and extras like an executive club with dining.

Neil Palmer bought two three-bedroom units, one for himself and one as an investment. "I'm even more confident today than when I bought them. I had an idea the government was considering an integrated resort next door, but now it has been confirmed this should add further value to the property," the senior executive at Starwood Hotels and Resorts said, pointing out that some units already resold at higher prices.

Chia confirmed that some sellers have gotten a 15 percent profit on their original price.

"For me it's all about lifestyle," Palmer said. "I'm fairly outgoing, I like to go out and about and be fairly central. This location is really at the heart of things, and I don't mind having to wait until 2009. Developments like this one are rare and worth waiting for."
redstone no está en línea   Reply With Quote
Old October 10th, 2005, 05:05 PM   #83
redstone
Lurker
 
redstone's Avatar
 
Join Date: Nov 2003
Location: Singapore
Posts: 14,056
Likes (Received): 52

Oct 8, 2005
Buying frenzy at Sail's soft launch

By Joyce Teo
Property Correspondent

CALL it the Sail of the Century. But in scenes like the property fever that gripped Singapore nearly a decade ago, some would-be buyers queued overnight to snap up units in the country's hottest condominium, The Sail @ Marina Bay.

The 100 apartments for sale at the invitation-only launch sold out completely within half an hour of a crowd of 1,000 pouring through the doors of the showflat at 9am.

Prices ranged from around $600,000 to as much as $8.8 million for the sole penthouse.

That averages out to about $1,080 on a per sq ft (psf) basis, making the iconic residential building one of the most expensive 99-year leasehold developments here.

A further 100 units were put up for sale quickly - at higher prices - and these were gone, too, by just 10am.

The developers then put even more units up for sale, and as at 6pm yesterday, out of the total of 270 units on offer, 250 had been sold.

Some buyers bought whole floors of the development, which will be Singapore's tallest residential project when completed in 2008-2009.

It consists of two towers, the first of which hit the market last year.

Three unnamed Singaporean businessmen yesterday each bought one floor, containing seven units.

And a Moscow-based Singapore businessman, Dr Sudhir Gupta, flew to Singapore in person to splash out on three floors plus the 5,834 sq ft penthouse on the 63rd floor of the 430-unit second tower.

Dr Gupta, the chairman of Amtel Group, one of Russia's major tyre-makers, paid $8.8 million, or $1,508 psf, for the penthouse, and an average of $1,150 psf for the three floors.

It was the second time in just over a week that buyers queued for a condo's invitation-only launch. They had also thronged another 99-year leasehold waterfront project, The Azure at Sentosa Cove.

The strong response for both projects shows the market is picking up finally, say analysts - though not across the board yet, they caution.

The Sail and The Azure are high-end projects offering a desirable waterfront living lifestyle that is new to Singapore, they point out.

Positive sentiment is starting to filter down to the mid-end market ($600 to $800 psf), said Savills Singapore managing director Michael Ng.

But the upgraders' market, which forms the backbone of the private residential market, is still generally weak, analysts said.

[email protected]

Copyright © 2005 Singapore Press Holdings. All rights reserved
redstone no está en línea   Reply With Quote
Old October 10th, 2005, 05:08 PM   #84
redstone
Lurker
 
redstone's Avatar
 
Join Date: Nov 2003
Location: Singapore
Posts: 14,056
Likes (Received): 52



October 10 2005
Singapore's CityDev says close to project sellout

SINGAPORE, Oct 10 (Reuters) - City Developments Ltd. , Southeast Asia's second-largest property group, said on Monday it would likely cancel the public launch of its Singapore waterfront residential project after selling nearly all the apartments in early private sales.

The developer and its joint venture partner, AIG Global Real Estate Investment Corp., sold 400 units out of the 430 in the second phase of its luxury The [email protected] Bay development, less than three days after some prospective buyers were invited to sale.

The first 100 units were sold at a price of S$1,080 per square foot.

"Thirty percent of the buyers are foreigners, mostly from China, Hong Kong, Indonesia, Taiwan and India. Many buyers were also keen to buy entire floors of 63-storey Tower Two and over 30 floors have since been sold en-bloc," CityDev said in a statement.

Singapore real estate is experiencing a resurgence after the government in July eased rules on property financing and foreign ownership.

Fuelled by foreign demand for high-end luxury residences in prime districts, private home prices saw their largest quarterly increase in five years between July and September.

Copyright © 2005Reuters Limited. All rights reserved.
redstone no está en línea   Reply With Quote
Old October 12th, 2005, 09:04 AM   #85
redstone
Lurker
 
redstone's Avatar
 
Join Date: Nov 2003
Location: Singapore
Posts: 14,056
Likes (Received): 52

Speculation makes comeback in high-end property market

11 Oct 05

Business is brisk in the secondary market as buyers cash in on rising prices of new properties

By ARTHUR SIM
AND ALEXANDRA HO


(SINGAPORE) Property speculators are back in the market after a long absence, driving up prices at new high-end residential developments - even buying up whole floors.



And business has been brisk in the secondary market of well-received developments such as the 99-year leasehold The Sail @ Marina Bay. An analysis of the caveats lodged - a key step in buying a property - for the first tower of The Sail showed that nearly five per cent, or 23 units, of the 496 units registered had changed hands two or three times.

The profits gained each time the units were sold ranged from just under 10 per cent to about 23 per cent. In one of the most profitable transactions, a 1,033 sq ft unit on one of the mid-level floors was originally purchased at $969,320 in November 2004. When it was sold in July 2005, it went for $1.19 million, or a cool profit of over $220,000.

Another unit changed hands three times, with the price shooting up 29.1 per cent overall. The 936 sq ft unit, also on a mid-level was $906,030 in November 2004. When it was sold this June, the price had risen by 14.8 per cent to $1.04 million. Upon its sale a third time in August, the price rose another 12.5 per cent, hitting $1.17 million.

In terms of dollars per square foot, prices for most of these units averaged $950-960, although a check with the classified advertisements in The Straits Times shows that owners' asking price for units at Tower One were $1,100 to $1,500.

Some buyers have also been cashing in on the success of another 99-year leasehold seafront development, Centrepoint Properties' The Azure at Sentosa Cove.

Property agents told BT that a number of buyers purchased eight to ten units en-bloc during The Azure's recent soft launch at average prices of $950 psf, and those buyers are now seeking about $1,200 psf for the very same units.

It may be too early to say if the pick up in the secondary market is being driven by speculators, but the over-heated response to The Sail has already prompted some buyers of the recently launched Tower Two to sell their units for a quick profit.

Property speculators are prevented by law from selling newly purchased units before the completion of the Sales and Purchase Agreement (S&P) - a practice known as 'flipping' - but a quick check with property consultants revealed that this is easily circumvented by 'private treaties' between buyer and seller.

According to the Housing Developers Rules, set out by the Controller of Housing, options granted by the housing developer are not 'assignable or transferable' either.

Still, if prices for high-end developments continue to rise, speculation on the secondary market could be too attractive for some to resist.

As for the primary market, The Sail's Tower Two, the City Developments and AIG Global Real Estate project launched last Friday sold more than 400 of the 430 available units by yesterday. Up to 15 floors, each with seven units, were bought by individual buyers at $8 million to $9 million each.

The first batch of 100 units at an average price of $1,080 psf were sold out almost immediately. As more units were released, CityDev says the average prices were increased by up to 10 per cent and ranged between $1,200 and $1,500 psf. BT understands that prices of some of the units on the higher floors even went as high as $1,700 psf.

CityDev estimates that over 2,000 visitors thronged the show suites, with 30 per cent of the buyers being foreigners, mostly from China, Hong Kong, Indonesia, Taiwan or India.

Property market watchers anticipate that the overwhelming success of The Sail will led to higher prices for future residential developments in the vicinity, such as those in the Business and Financial Centre and Marina Bay.

The last phase of Wheelock Properties' The Seaview, over on the eastern part of the island, also enjoyed good response with 45 per cent of the final 168 units sold over the weekend at an average price of $778 psf. This is up from the earlier launch price of $750 psf in June. Wheelock says that 25 per cent of the units at its other prime property, The Cosmopolitan, have been sold so far through the soft launch.

With the positive sentiment, developers like Keppel Land and WingTai Asia said they are on track to release their developments before the end of this year. Keppel's Park Infinia project off Newton Road and WingTai's Draycott 8 are scheduled for release by this quarter, as is another CityDev project, St Regis Residences at Tomlinson Road.
redstone no está en línea   Reply With Quote
Old October 13th, 2005, 08:10 AM   #86
Harkeb
BANNED
 
Harkeb's Avatar
 
Join Date: Oct 2004
Location: Cape Town, Seoul
Posts: 2,634
Likes (Received): 22

Supercool!111
Harkeb no está en línea   Reply With Quote
Old October 15th, 2005, 01:24 PM   #87
RafflesCity
By Spirit
 
RafflesCity's Avatar
 
Join Date: Sep 2002
Location: S I N G A P O R E
Posts: 25,909
Likes (Received): 105

13 October 2005

RafflesCity no está en línea   Reply With Quote
Old October 15th, 2005, 04:52 PM   #88
BrizzyChris
Moderator
 
BrizzyChris's Avatar
 
Join Date: Sep 2002
Location: Brisbane
Posts: 7,853
Likes (Received): 1162

Sheesh, it's a slow one. I'm sure it will fly once all foundations are complete though.
BrizzyChris no está en línea   Reply With Quote
Old October 22nd, 2005, 06:33 AM   #89
redstone
Lurker
 
redstone's Avatar
 
Join Date: Nov 2003
Location: Singapore
Posts: 14,056
Likes (Received): 52

Yup. Very slow foundation works.

Like it's neighbour One Raffles Quay. Foundations took a very very long time to build.


But once that's done, the tower itself would rise very fast.
redstone no está en línea   Reply With Quote
Old October 22nd, 2005, 07:11 AM   #90
thryve
°°°°°°°°°°
 
Join Date: Mar 2005
Location: Toronto
Posts: 5,346
Likes (Received): 22

What is the significance of "raffles" as a name?

thanks,
SP!RE
thryve no está en línea   Reply With Quote
Old October 22nd, 2005, 02:58 PM   #91
Mosaic
BANGKOK
 
Mosaic's Avatar
 
Join Date: Feb 2005
Location: Bangkok
Posts: 13,302
Likes (Received): 758

Just be patient, Foundation takes time as we already know.
Mosaic no está en línea   Reply With Quote
Old October 22nd, 2005, 04:28 PM   #92
Sky-Admin
Registered User
 
Join Date: Oct 2005
Posts: 30
Likes (Received): 0

any new pictures?
__________________
[Roses are red, Violets Are blue, When god gave brains, Where the hell where you]
Sky-Admin no está en línea   Reply With Quote
Old October 22nd, 2005, 04:44 PM   #93
redstone
Lurker
 
redstone's Avatar
 
Join Date: Nov 2003
Location: Singapore
Posts: 14,056
Likes (Received): 52

Quote:
Originally Posted by SP!RE
What is the significance of "raffles" as a name?

thanks,
SP!RE
One Raffles Quay?
Raffles Quay was the historic name.

The One Raffles Quay tower was built on Raffles Quay, an old quay.

The quay was demolished and the land reclaimed outwards and later a new mini port called Telok Ayer Basin was built.

Telok Ayer Basin:


But the road by the quay still kept it's old name, Raffles Quay.

By the 1990s, Telok Ayer Basin was demolished too.
redstone no está en línea   Reply With Quote
Old October 23rd, 2005, 10:02 AM   #94
Pengui
Tallest on his iceberg
 
Pengui's Avatar
 
Join Date: Jun 2003
Location: Singapore / Paris
Posts: 3,577
Likes (Received): 6

Quote:
Originally Posted by SP!RE
What is the significance of "raffles" as a name?
http://en.wikipedia.org/wiki/Stamford_Raffles
In short, he was Singapore's founder.
Pengui no está en línea   Reply With Quote
Old October 23rd, 2005, 10:19 AM   #95
RafflesCity
By Spirit
 
RafflesCity's Avatar
 
Join Date: Sep 2002
Location: S I N G A P O R E
Posts: 25,909
Likes (Received): 105



simple and concise



pic by Phenomenal Fullerton
RafflesCity no está en línea   Reply With Quote
Old November 9th, 2005, 03:50 PM   #96
RafflesCity
By Spirit
 
RafflesCity's Avatar
 
Join Date: Sep 2002
Location: S I N G A P O R E
Posts: 25,909
Likes (Received): 105

back on topic.

Excavation seems to have become intense

9 November 2005

RafflesCity no está en línea   Reply With Quote
Old November 9th, 2005, 04:02 PM   #97
BrizzyChris
Moderator
 
BrizzyChris's Avatar
 
Join Date: Sep 2002
Location: Brisbane
Posts: 7,853
Likes (Received): 1162

I'm going to set an alarm to come back to this in a year, maybe then the core will have started.
BrizzyChris no está en línea   Reply With Quote
Old November 9th, 2005, 05:33 PM   #98
Chad
Kickimus Gluteus Maximus
 
Chad's Avatar
 
Join Date: Oct 2002
Location: Bangkok
Posts: 37,354
Likes (Received): 3633

I think the hole will be quite a lot deeper, maybe a month before the actual core starts to rise?
__________________
You have the right to remain silent, everything you say will be misquoted and used against you in the forum

-Imate pravo da ćutite, sve što budete rekli može i biće upotrebljeno protiv vas na forumu

You know you love me. XOXO.
Chad no está en línea   Reply With Quote
Old November 9th, 2005, 07:31 PM   #99
Bahraini Spirit
Registered User
 
Bahraini Spirit's Avatar
 
Join Date: Dec 2002
Location: Bahrain; London
Posts: 3,430
Likes (Received): 4

Not much has changed, looks like it'll need a while to come out.
__________________
<<_>>Live your life, let no one hinder!!!<<_>>
Bahraini Spirit no está en línea   Reply With Quote
Old November 10th, 2005, 12:43 AM   #100
colemonkee
aimin high. shootin low.
 
Join Date: Jun 2005
Location: Los Angeles
Posts: 445
Likes (Received): 11

I counted 11 different digging machines. That's intense. Also, look at the shape of that hole! That's the first time I've seen a square, rectangle or circle for excavation.
colemonkee no está en línea   Reply With Quote


Reply

Tags
marina bay, singapore

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 03:36 PM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu