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When it comes to investing in condos in Singapore, one cannot ignore the impact of the government’s property cooling measures. Through the years, the Singaporean government has implemented various policies to discourage speculative buying and maintain a steady real estate market. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which enforces higher taxes for foreign buyers and those purchasing multiple properties. While these may affect the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a secure environment for investors. This is why Singapore Projects continue to be a popular choice for investors looking for a stable and reliable investment option.

SINGAPORE (EDGEPROP) – JTC has awarded the tender for an industrial site at Kallang Way to CapitaLand Development’s subsidiary, CL Savour Property, for $368.901 million. This marks the first time an industrial site has been earmarked for adaptive reuse, with the existing terrace factory being retained and adapted for continued industrial use. The top bid, which is 14.9% higher than the second highest bid submitted by a consortium, sets the tone for the rejuvenation of this industrial area. The strategic integration of adaptive reuse not only aims to rejuvenate the area sustainably, but also reduces carbon emissions in the built environment while preserving the industrial legacy of the site, according to Tang Hsiao Ling, director of urban planning and architecture division at JTC. The site, launched as the last of five Confirmed List sites in the 1H2024 IGLS programme, was launched on June 25 and received four bids at the close of the tender on Oct 1. With a total land area of 474,772 sq ft, the site is zoned Business 2 under the master plan and has a maximum allowable gross floor area of 1.23 million sq ft. It also has a 33-year tenure and falls under a designated food zone, with the new development set to feature food manufacturing spaces and retail uses to inject vibrancy into the industrial area.…

When it comes to investing in property in Singapore, it is crucial for foreign investors to have a good grasp of the regulations and restrictions in place. In comparison to landed properties, which have more stringent ownership guidelines, foreigners can purchase condos with less limitation. However, it is worth noting that foreign buyers are still required to pay the ABSD, which is currently set at 20% for their initial property acquisition. Nevertheless, despite this added cost, the stability and potential for growth in Singapore’s real estate market remains a strong draw for foreign investment. This is evident in the continued interest and involvement of foreign investors in various Singapore projects.

Located in the bustling area of Choa Chu Kang, a coffee shop at 253 Choa Chu Kang Ave 1 is now available for purchase through expression of interest (EOI) with a guide price of $11 million. The spacious shop covers an area of 2,540 sq ft and is situated within the popular Keat Hong Shopping Centre, a two-storey HDB commercial complex that houses numerous food stalls, a supermarket, and other shops.

This commercial property is zoned for commercial use and boasts a 99-year leasehold tenure with 68 years remaining. Positioned on the ground floor, it is currently rented out to a coffee shop operator and consists of seven food stalls and a drink stall. The location of Keat Hong Shopping Centre can be seen on the map below (Source: EdgeProp LandLens).

According to Jervis Isaiah Ng, the founder of JNA Real Estate, a team under PropNex Realty, potential buyers have the option to personally operate the coffee shop, renovate and lease it out, or continue leasing it to another coffee shop operator. JNA Real Estate has been appointed as the exclusive marketing agent for the property. It is worth noting that the property does not include living quarters, which makes it exempt from Additional Buyer’s Stamp Duty.

Keat Hong Shopping Centre is conveniently located within walking distance from South View LRT Station on the Bukit Panjang LRT Line and the upcoming Choa Chu Kang West MRT Station on the Jurong Region Line, which is expected to be completed in 2027. Other amenities, such as Choa Chu Kang Primary School and the recently renovated Choa Chu Kang West Market, are also in close proximity.

Interested parties can submit their expressions of interest by Dec 22 at 3pm.…

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On November 19, Keppel announced the divestment of its data centre joint venture (JV) to Keppel DC REIT (KDC REIT) for a total gross divestment price of $1.38 billion. The JV, which is owned 60% by Keppel’s connectivity division and 40% by Cuscaden Peak Investments Private Limited, owns the Keppel Data Centre Campus situated at Genting Lane in Singapore. The campus comprises two fully contracted and completed data centres, namely Keppel DC Singapore 7 (KDC SGP 7) and Keppel DC Singapore 8 (KDC SGP 8). Both data centres are fully contracted to global hyperscalers from various sectors, including cloud services, internet enterprises, and telecommunications, on a colocation basis. The JV, together with Keppel’s private fund Alpha Data Centre Fund, its parallel fund (ADCF), and co-investors, funded the construction of both data centres.

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Investing in a condo has multiple advantages, including the opportunity to leverage the property’s value for other investments. It is common for investors to use their condos as collateral in order to secure additional financing for new ventures, which can lead to the growth of their real estate portfolio. While this approach can potentially increase profits, it also carries some risks. It is important to have a well-thought-out financial plan and to carefully assess the potential effects of market fluctuations. Additionally, keeping an eye on New Condo Launches can provide opportunities for further investment.

After the proposed transaction is completed, KDC REIT will become the sole owner of KDC SGP 7 and KDC SGP 8. Keppel will continue to operate and manage the two data centres. KDC REIT will acquire an initial 49% interest in the JV and subscribe to two new classes of securities issued by the Keppel JV for up to $1.03 billion. This will give the REIT 99.49% of the economic interest in both data centres. KDC REIT will also have a call option, which it plans to exercise in the second half of 2025, to acquire the remaining 51% stake in the Keppel JV from Keppel. This remaining stake has an economic interest of 0.51% in the data centres. As part of the proposed transaction, KDC REIT will pay an additional $350 million to the JV’s shareholders, ADCF and co-investors, if the campus is granted an extension of its land tenure lease to 2050.

The proposed acquisition by KDC REIT is expected to increase its distribution per unit (DPU) by 8.1%. Additionally, it will expand the REIT’s assets under management (AUM) by 36%, reaching $5.2 billion with a total of 25 data centres across Asia Pacific and Europe. Keppel will receive around $280 million from the divestment. The gross divestment price encompasses the estimated consideration for Keppel’s 51% stake in the JV if the call option is exercised, as well as additional consideration for the extension of the campus’s land tenure lease for 10 years, assuming the call option is exercised. The gross divestment price will also be adjusted for debt repayment and completion adjustments.

The JV also possesses a vacant plot of land intended for a third data centre, which is not part of the transaction. The plot will be leased to Keppel’s private funds, Keppel DC Fund II and the upcoming Keppel DC Fund III. Keppel intends to develop the third data centre, KDC SGP 9, with the two data centre private funds.

Manjot Singh Mann, CEO of Keppel’s connectivity division, says that the injection of KDC SGP 7 and KDC SGP 8 into Keppel DC REIT showcases their ability to structure deals that offer strong value creation for the company, its private funds, and the REIT. He adds that their integrated ecosystem provides access to essential resources like power, technology expertise, and customer relationships with hyperscalers worldwide, which are crucial to success in the data centre business. The company can work with multiple pools of capital to create a strong pipeline of AI-ready data centres that provide effective solutions for customers while offering attractive investments for their funds and REIT.

Loh Hwee Long, CEO of KDC REIT’s manager, says that the REIT is thrilled to embark on this landmark deal on its 10th anniversary. KDC REIT launched its initial public offering (IPO) in 2014. He adds that the transaction will provide substantial positive cash flows and immediately increase DPU. The inclusion of these assets will not only enhance the portfolio’s income resilience but also allow them to benefit from potential rental uplifts and capacity expansion. This transaction further solidifies Keppel DC REIT’s position in the market as one of the largest owners of stabilized data centres in Singapore, where there is a strong demand and limited supply.

The proposed transaction will be executed in stages and is expected to be completed by the end of 2025.…