Thursday, November 22, 2007
仰光路五座毗邻公寓 1.2亿元“打包”售出
《联合早报》Nov 22, 2007
本地上市公司——建筑商金成兴控股（KSH）一口气以1亿2000万元（即容积率每平方英尺580元），买下仰光路(Rangoon Road)五座集体求售的相连接小型私人公寓。
这幅地段包括麦桂苑(Mergui Lodge)、麦桂阁(Mergui Court)、美贵园(The Mergui)、纳福阁 (Norfolk Court)和Northern Mansion，单位的数目介于9个到23个之间，总数是88个，其中两个项目获得100％的业主同意出售，另外三个项目也获得超过80％的业主签署了同意书。
以1亿2000万元的售价来看，每名业主将能“套现”90万6856元至190万8491元。
负责销售项目的齐乐行（Credo)相信，这可能是本地第一次出现五幅相连地段“包装”在一起集体出售，并同时卖给同一个买家的情形。
金成兴控股（KSH）总裁朱峙安表示，将通过内部资金调动和向银行借贷来为项目融资。金成兴目前也同其他投资者进行洽谈，希望组成联营企业来发展这个优质私宅地段。
这五个项目的土地面积介于1万0061平方英尺到1万8524平方英尺之间，当结合在一起后，加上周边的政府土地，整个地段的土地面积将达到8万7092平方英尺。地段的总容积率为2.8，属于永久地契，可建筑楼面约为20万8196平方英尺。
可建142豪华单位
朱峙安相信，地段能重新发展成具有142个豪华单位的共管公寓高楼，每个单位的面积大约为1250平方英尺。
齐乐行执行董事杨春华认为，这样的“包装售卖”方式对买卖双方来说，是双赢的局面。杨春华说：“对业主来说，这比他们把各别地段分开集体出售，取得更高的价格；发展商则有机会将地段重新发展成一个中型的高楼住宅项目，可建造大约200个新单位。”最高建筑楼层可达到30层楼高。
其实，这并非齐乐行第一次将小型公寓“包装”在一起求售。
去年2月份，齐乐行就将禄梓公寓(Lock Cho Apartment)、康福大厦(Comfort Mansion)及另外一个拥有八个低层公寓的项目，一块儿推出市场。最后，城市发展耗资1亿5630万元，一口气买下位于汤申路的这三个相连接住宅地段。
齐乐行今年也售出Nob岭公寓（Nob Hill)和其相连的两幢别墅、凯胜阁（Kai Sheng Court)和其相连的两栋屋子，且正在销售罗彬通道（Robin Drive)的三幅相连地段。
同时，这也不是建筑商金成兴控股首次进军本地房地产发展市场。在今年6月份，金成兴就与另外三家上市公司——喜敦控股（Heeton）、许兄弟（Koh Brothers）和联明建筑组成财团，以2亿4300万元争取到位于第11邮区的林肯苑（Lincoln Lodge）的发展权，计划把它发展成豪华私宅项目。
另一方面，大众控股(Popular Holdings)昨天也宣布，其子公司大众置地（Popular Land）以1550万元，买下汤申路附近惹兰拉惹乌当（Jalan Raja Udang），一个称为实巴公寓（Shiba Apartments）的所有分层地契单位。
这就比实巴公寓推出市场时的1690万元要价，即容积率每平方英尺约792元（包括发展收费）还来得低。
大众控股表示，将通过内部资金调动和／或向银行借贷为项目融资。集团表示，虽然主要业务还是集中在零售、分销和出版业，但房地产发展具有增长潜力，因此决定把握机会，进军这个市场。
大众置地在今年四月份，也以2720万元买下赐福路（Shelford Road）18号的10个住宅单位，集团的第一个房地产项目——豪华精品型私宅One Robin，相信会在不久后登场。
本地上市公司——建筑商金成兴控股（KSH）一口气以1亿2000万元（即容积率每平方英尺580元），买下仰光路(Rangoon Road)五座集体求售的相连接小型私人公寓。
这幅地段包括麦桂苑(Mergui Lodge)、麦桂阁(Mergui Court)、美贵园(The Mergui)、纳福阁 (Norfolk Court)和Northern Mansion，单位的数目介于9个到23个之间，总数是88个，其中两个项目获得100％的业主同意出售，另外三个项目也获得超过80％的业主签署了同意书。
以1亿2000万元的售价来看，每名业主将能“套现”90万6856元至190万8491元。
负责销售项目的齐乐行（Credo)相信，这可能是本地第一次出现五幅相连地段“包装”在一起集体出售，并同时卖给同一个买家的情形。
金成兴控股（KSH）总裁朱峙安表示，将通过内部资金调动和向银行借贷来为项目融资。金成兴目前也同其他投资者进行洽谈，希望组成联营企业来发展这个优质私宅地段。
这五个项目的土地面积介于1万0061平方英尺到1万8524平方英尺之间，当结合在一起后，加上周边的政府土地，整个地段的土地面积将达到8万7092平方英尺。地段的总容积率为2.8，属于永久地契，可建筑楼面约为20万8196平方英尺。
可建142豪华单位
朱峙安相信，地段能重新发展成具有142个豪华单位的共管公寓高楼，每个单位的面积大约为1250平方英尺。
齐乐行执行董事杨春华认为，这样的“包装售卖”方式对买卖双方来说，是双赢的局面。杨春华说：“对业主来说，这比他们把各别地段分开集体出售，取得更高的价格；发展商则有机会将地段重新发展成一个中型的高楼住宅项目，可建造大约200个新单位。”最高建筑楼层可达到30层楼高。
其实，这并非齐乐行第一次将小型公寓“包装”在一起求售。
去年2月份，齐乐行就将禄梓公寓(Lock Cho Apartment)、康福大厦(Comfort Mansion)及另外一个拥有八个低层公寓的项目，一块儿推出市场。最后，城市发展耗资1亿5630万元，一口气买下位于汤申路的这三个相连接住宅地段。
齐乐行今年也售出Nob岭公寓（Nob Hill)和其相连的两幢别墅、凯胜阁（Kai Sheng Court)和其相连的两栋屋子，且正在销售罗彬通道（Robin Drive)的三幅相连地段。
同时，这也不是建筑商金成兴控股首次进军本地房地产发展市场。在今年6月份，金成兴就与另外三家上市公司——喜敦控股（Heeton）、许兄弟（Koh Brothers）和联明建筑组成财团，以2亿4300万元争取到位于第11邮区的林肯苑（Lincoln Lodge）的发展权，计划把它发展成豪华私宅项目。
另一方面，大众控股(Popular Holdings)昨天也宣布，其子公司大众置地（Popular Land）以1550万元，买下汤申路附近惹兰拉惹乌当（Jalan Raja Udang），一个称为实巴公寓（Shiba Apartments）的所有分层地契单位。
这就比实巴公寓推出市场时的1690万元要价，即容积率每平方英尺约792元（包括发展收费）还来得低。
大众控股表示，将通过内部资金调动和／或向银行借贷为项目融资。集团表示，虽然主要业务还是集中在零售、分销和出版业，但房地产发展具有增长潜力，因此决定把握机会，进军这个市场。
大众置地在今年四月份，也以2720万元买下赐福路（Shelford Road）18号的10个住宅单位，集团的第一个房地产项目——豪华精品型私宅One Robin，相信会在不久后登场。
5-Site En Bloc Fetches $120m
Source : TODAY, Thursday, November 22, 2007
FIVE residential developments near Thomson Road/Novena Square have been sold in a joint en bloc sale for $120 million. The sale was managed by Credo Real Estate and the buyer is Kim Seng Heng Realty, a subsidiary of KSH Holdings.
Norfolk Court, Mergui Lodge, Northern Mansion, Mergui Court and The Mergui have land areas ranging from 10,061 sq ft to 18,524 sq ft.
“After combining them with some remnant land parcels, the developer could build on an aggregate land area of 87,092 sq ft,” said Credo Real Estate’s executive director Yong Chong Wah.
Credo’s managing director Karamjit Singh told Today that the new buyer intends to develop a condominium on the site.
The $120 million selling price reflects $580 per sq ft per plot ratio before factoring in the state land. Depending on the state land that may be amalgamated, the effective rate could come down to $540 psf ppr.
In light of cautious market sentiments due to sub-prime woes, Mr Singh said the sale was a “good deal for both buyer and seller”.
The freehold site is near amenities such as the Pek Kio Market and Food Centre, KK Women’s and Children’s Hospital and a short distance to United Square and Novena Square malls.
FIVE residential developments near Thomson Road/Novena Square have been sold in a joint en bloc sale for $120 million. The sale was managed by Credo Real Estate and the buyer is Kim Seng Heng Realty, a subsidiary of KSH Holdings.
Norfolk Court, Mergui Lodge, Northern Mansion, Mergui Court and The Mergui have land areas ranging from 10,061 sq ft to 18,524 sq ft.
“After combining them with some remnant land parcels, the developer could build on an aggregate land area of 87,092 sq ft,” said Credo Real Estate’s executive director Yong Chong Wah.
Credo’s managing director Karamjit Singh told Today that the new buyer intends to develop a condominium on the site.
The $120 million selling price reflects $580 per sq ft per plot ratio before factoring in the state land. Depending on the state land that may be amalgamated, the effective rate could come down to $540 psf ppr.
In light of cautious market sentiments due to sub-prime woes, Mr Singh said the sale was a “good deal for both buyer and seller”.
The freehold site is near amenities such as the Pek Kio Market and Food Centre, KK Women’s and Children’s Hospital and a short distance to United Square and Novena Square malls.
China Needs To Levy Property Tax: Official
Source : The Business Times, November 22, 2007
(BEIJING) China should levy a general property tax to discourage speculation and rein in runaway real estate prices, according to a member of the central bank's monetary policy committee.
Fan Gang's comments in the latest issue of a Chinese Academy of Social Sciences magazine echo concerns voiced this week by Premier Wen Jiabao that China's soaring housing market must be brought under control.
'Realty investors don't care whether their houses can be rented out or not,' Mr Fan said in an interview. 'If a continual and incremental tax is imposed on real estate, investment in the sector will cool down.'
Mr Fan, one of China's best-known economists, has previously called for an annual tax on homeowners based on the value of their property but had previously said that technical obstacles stood in the way. His latest comments described the reforms as urgent.
'Demand will continue to expand unchecked if realty investors are not required to pay anything to compensate for the housing price hike,' he said.
China has adopted a number of measures to cool the real estate sector, such as increasing capital gains taxes on property and tightening land-use rules.
But property prices have resumed their surge, up 9.5 per cent year-on-year in October and even more in major cities, after briefly calming earlier in the year.
Mr Fan, who is also director of the National Institute of Economic Research, added that authorities must crack down on insider trading and illegal loans in the stock markets, or 'the consequences will be unthinkable'.
However, he was optimistic about China's potential for stable growth at around 11 per cent a year, saying that the country would continue to benefit from low labour costs, a high savings rate, capital inflows and advances in education and technology.
The challenge, he said, was for China to fix its economic problems from its current position of strength, so that it would be better able to withstand international financial crises.
He also said that the profitability of Chinese businesses was exaggerated because of artificially low resource prices, tiny social security outlays and lax environmental rules. -- Reuters
(BEIJING) China should levy a general property tax to discourage speculation and rein in runaway real estate prices, according to a member of the central bank's monetary policy committee.
Fan Gang's comments in the latest issue of a Chinese Academy of Social Sciences magazine echo concerns voiced this week by Premier Wen Jiabao that China's soaring housing market must be brought under control.
'Realty investors don't care whether their houses can be rented out or not,' Mr Fan said in an interview. 'If a continual and incremental tax is imposed on real estate, investment in the sector will cool down.'
Mr Fan, one of China's best-known economists, has previously called for an annual tax on homeowners based on the value of their property but had previously said that technical obstacles stood in the way. His latest comments described the reforms as urgent.
'Demand will continue to expand unchecked if realty investors are not required to pay anything to compensate for the housing price hike,' he said.
China has adopted a number of measures to cool the real estate sector, such as increasing capital gains taxes on property and tightening land-use rules.
But property prices have resumed their surge, up 9.5 per cent year-on-year in October and even more in major cities, after briefly calming earlier in the year.
Mr Fan, who is also director of the National Institute of Economic Research, added that authorities must crack down on insider trading and illegal loans in the stock markets, or 'the consequences will be unthinkable'.
However, he was optimistic about China's potential for stable growth at around 11 per cent a year, saying that the country would continue to benefit from low labour costs, a high savings rate, capital inflows and advances in education and technology.
The challenge, he said, was for China to fix its economic problems from its current position of strength, so that it would be better able to withstand international financial crises.
He also said that the profitability of Chinese businesses was exaggerated because of artificially low resource prices, tiny social security outlays and lax environmental rules. -- Reuters
Average Grade A Office Rents Here On Par With HK
Source : The Business Times, November 22, 2007
But top rents in HK are 1.8 times higher than in comparable buildings here
AVERAGE island-wide Grade A rents are currently just a shade under those of Hong Kong, but the highest rents achieved by Hong Kong Grade 'AAA' office buildings are still about 1.8 times higher than the top rents achieved in comparable buildings here.
A report by Savills reveals that in the CBDs of Hong Kong and Singapore, Grade A rents are now the equivalent of $9.80 and $9.70 psf respectively.
However, top rents in Hong Kong's Grade 'AAA' buildings like the International Financial Centre, Chater House and AIG Tower are closer to $32 psf while those in Singapore's Republic Plaza, One Raffles Quay and 6 Battery Road are at about $17.50 psf.
Rising business costs have come under scrutiny recently and Savills Hong Kong senior director (research and consultancy) Simon Smith does say that there is the perception that Hong Kong and Singapore are in direct competition to attract businesses for this segment of the property market. However, he added: 'I have not come across any financial institutions that have chosen to relocate from Singapore to Hong Kong yet.'
Indeed, Mr Smith believes that the financial institutions that are so important to the economies of both cities are more likely to set up offices in both cities to service different markets.
In terms of new supply of office space, Mr Smith does point out that Hong Kong will see some 'AAA' space become available next year in areas like West Kowloon where the 2.5 million sq ft International Commerce Centre (ICC) is set to open. The ICC is said to have attracted some major financial institutions already.
In contrast, Savills notes that the recently awarded commercial development sites including those at Marina View and Beach Road are expected to generate a combined 3 million sq ft of office space, scheduled for completion between 2010 and 2012.
But competition actually could come from more unlikely quarters.
Savills' survey of regional office rents includes the emerging Vietnamese cities of Hanoi and Ho Chi Minh City and already average Grade A office rents in both cities have outpaced those in Shanghai and Beijing (but are still less than Tokyo, Hong Kong and Singapore).
Mr Smith believes that rising rents and 100 per cent occupancies in Hanoi and Ho Chi Minh City are largely due to the shortage of quality buildings in these cities, and hence adds: 'There is a huge potential there for developers.'
Giving an insight into the pace of development there, he said: 'Vietnam is much like China was in the 1990s, where companies were running their businesses out of hotel rooms. But when the market matures, rents will settle down.'
Savills believes the outlook for Singapore office sector remains positive, with rents continuing to rise, although at a slower pace for Grade A space due to 'resistance from tenants'.
'Demand from multinational companies for offices in suburban areas and high-tech space is expected to increase, especially by those who are more conscious of their bottom-line,' it said.
But top rents in HK are 1.8 times higher than in comparable buildings here
AVERAGE island-wide Grade A rents are currently just a shade under those of Hong Kong, but the highest rents achieved by Hong Kong Grade 'AAA' office buildings are still about 1.8 times higher than the top rents achieved in comparable buildings here.
A report by Savills reveals that in the CBDs of Hong Kong and Singapore, Grade A rents are now the equivalent of $9.80 and $9.70 psf respectively.
However, top rents in Hong Kong's Grade 'AAA' buildings like the International Financial Centre, Chater House and AIG Tower are closer to $32 psf while those in Singapore's Republic Plaza, One Raffles Quay and 6 Battery Road are at about $17.50 psf.
Rising business costs have come under scrutiny recently and Savills Hong Kong senior director (research and consultancy) Simon Smith does say that there is the perception that Hong Kong and Singapore are in direct competition to attract businesses for this segment of the property market. However, he added: 'I have not come across any financial institutions that have chosen to relocate from Singapore to Hong Kong yet.'
Indeed, Mr Smith believes that the financial institutions that are so important to the economies of both cities are more likely to set up offices in both cities to service different markets.
In terms of new supply of office space, Mr Smith does point out that Hong Kong will see some 'AAA' space become available next year in areas like West Kowloon where the 2.5 million sq ft International Commerce Centre (ICC) is set to open. The ICC is said to have attracted some major financial institutions already.
In contrast, Savills notes that the recently awarded commercial development sites including those at Marina View and Beach Road are expected to generate a combined 3 million sq ft of office space, scheduled for completion between 2010 and 2012.
But competition actually could come from more unlikely quarters.
Savills' survey of regional office rents includes the emerging Vietnamese cities of Hanoi and Ho Chi Minh City and already average Grade A office rents in both cities have outpaced those in Shanghai and Beijing (but are still less than Tokyo, Hong Kong and Singapore).
Mr Smith believes that rising rents and 100 per cent occupancies in Hanoi and Ho Chi Minh City are largely due to the shortage of quality buildings in these cities, and hence adds: 'There is a huge potential there for developers.'
Giving an insight into the pace of development there, he said: 'Vietnam is much like China was in the 1990s, where companies were running their businesses out of hotel rooms. But when the market matures, rents will settle down.'
Savills believes the outlook for Singapore office sector remains positive, with rents continuing to rise, although at a slower pace for Grade A space due to 'resistance from tenants'.
'Demand from multinational companies for offices in suburban areas and high-tech space is expected to increase, especially by those who are more conscious of their bottom-line,' it said.
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