Source : The Straits Times, 17 Aug 2007
CAPITALAND has bought two Malaysian shopping centres for around $527.1 million, it announced yesterday.
The property giant, working through two of its subsidiaries, paid $336.8 million for Gurney Plaza in Penang and about $190.3 million for Selangor’s Mines Shopping Fair.
The malls will form the first two seed assets for the proposed CapitaLand-sponsored Malaysian retail real estate investment trust (Reit), CapitaLand said.
Gurney Plaza is a seven-storey mall strategically located on Penang’s Gurney Drive promenade. The mall is about five minutes’ drive from the city centre of Georgetown.
It has more than 700,000 sq ft in net lettable area and more than 300 specialty stores.
Mines Shopping Fair is a prime retail mall that is part of the Mines Resort City in Selangor. Opened in 1997, it has a unique Venetian-styled canal flowing through the mall.
The mall is located in the growth corridor in the south of Kuala Lumpur, and measures around 650,000 sq ft in net lettable area.
CapitaLand Retail’s chief executive, Mr Pua Seck Guan, said Mines Shopping Fair is a ‘quality asset’ that ‘enjoys a good flow of human traffic’ while Gurney Plaza ‘enjoys close to 100 per cent occupancy’.
‘The acquisitions provide CapitaLand with a unique opportunity to extend our retail real estate platform to Malaysia which, in addition to Singapore, China, India and Japan, will further strengthen our position as the leading retail property company in Asia,’ he said.
CapitaLand Group president and chief executive Liew Mun Leong said in a statement that the two acquisitions will help the company increase its Reit portfolio in Singapore and overseas.
‘In line with our current Reit strategy, we have identified other quality Malaysian retail assets that will augment Gurney Plaza and Mines Shopping Fair, and form the pipeline of assets for our pure-play Malaysian retail Reit, which could possibly be listed within a year,’ he added.
CapitaLand has sponsored five Reits. Four are listed on the Singapore Exchange and one on Bursa Malaysia.
Friday, August 17, 2007
CapitaLand Plans Launch Of New Malaysian Reit
Source : The Business Times, 17 Aug 2007
It spends $336.8m to buy Gurney Plaza, $190.3m on Mines Shopping Fair
CAPITALAND is aiming to launch a new Malaysian retail real estate investment trust (Reit) within a year and has just spent $527.1 million on the plan.
Yesterday, it announced that it had entered into sale and purchase agreements to acquire two shopping malls in Malaysia. The larger of the two is Gurney Plaza in Penang, which will be acquired for $336.8 million. Mines Shopping Fair in Selangor will cost $190.3 million.
In a statement, CapitaLand said the two assets would ‘form seed assets for CapitaLand’s proposed Malaysian retail Reit’. CapitaLand CEO and president Liew Mun Leong added that the company was ‘on track’ to build up its assets under management through increasing the Reit’s portfolio in Singapore and abroad.
Mr Liew said: ‘In line with our current Reits strategy, we have identified other quality Malaysian retail assets that will augment Gurney Plaza and Mines Shopping Fair and form the pipeline of assets for our pure-play Malaysian retail Reit, which could possibly be listed within a year.’
CapitaLand did not say what the target size of the Reit would be. Its other retail Reit, CapitaMall Trust, which was listed in 2002, now has a portfolio worth almost $6 billion.
CapitaLand said it has not yet decided to list the new trust. CapitaLand has sponsored five Reits, all but one of which are listed on the Singapore Exchange. Quill Capita Trust, which was launched in January, is listed on Bursa Malaysia.
Of the latest properties, CapitaLand Retail CEO Pua Seck Guan said: ‘The acquisitions provide CapitaLand with an unique opportunity to extend our retail real estate platform to Malaysia, which in addition to Singapore, China, India and Japan, will further strengthen our position as the leading retail property company in Asia.’
He said the 700,000 sq ft Gurney Plaza is close to 100 per cent occupied. CapitaLand also signed a put and call option to acquire Gurney Plaza’s four storey extension which is under construction. It will provide an additional 130,000 sq ft of net lettable area when completed around the end of next year.
Mr Pua said that there were ’substantial asset enhancement and tenancy remixing opportunities’ at the 650,000 sq ft Mines Shopping Fair.
It spends $336.8m to buy Gurney Plaza, $190.3m on Mines Shopping Fair
CAPITALAND is aiming to launch a new Malaysian retail real estate investment trust (Reit) within a year and has just spent $527.1 million on the plan.
Yesterday, it announced that it had entered into sale and purchase agreements to acquire two shopping malls in Malaysia. The larger of the two is Gurney Plaza in Penang, which will be acquired for $336.8 million. Mines Shopping Fair in Selangor will cost $190.3 million.
In a statement, CapitaLand said the two assets would ‘form seed assets for CapitaLand’s proposed Malaysian retail Reit’. CapitaLand CEO and president Liew Mun Leong added that the company was ‘on track’ to build up its assets under management through increasing the Reit’s portfolio in Singapore and abroad.
Mr Liew said: ‘In line with our current Reits strategy, we have identified other quality Malaysian retail assets that will augment Gurney Plaza and Mines Shopping Fair and form the pipeline of assets for our pure-play Malaysian retail Reit, which could possibly be listed within a year.’
CapitaLand did not say what the target size of the Reit would be. Its other retail Reit, CapitaMall Trust, which was listed in 2002, now has a portfolio worth almost $6 billion.
CapitaLand said it has not yet decided to list the new trust. CapitaLand has sponsored five Reits, all but one of which are listed on the Singapore Exchange. Quill Capita Trust, which was launched in January, is listed on Bursa Malaysia.
Of the latest properties, CapitaLand Retail CEO Pua Seck Guan said: ‘The acquisitions provide CapitaLand with an unique opportunity to extend our retail real estate platform to Malaysia, which in addition to Singapore, China, India and Japan, will further strengthen our position as the leading retail property company in Asia.’
He said the 700,000 sq ft Gurney Plaza is close to 100 per cent occupied. CapitaLand also signed a put and call option to acquire Gurney Plaza’s four storey extension which is under construction. It will provide an additional 130,000 sq ft of net lettable area when completed around the end of next year.
Mr Pua said that there were ’substantial asset enhancement and tenancy remixing opportunities’ at the 650,000 sq ft Mines Shopping Fair.
Govt Releases New Hotel Site At Alexandra Road
Source : The Straits Times, 17 Aug 2007
The Government has released a new hotel site where the former Safra Bukit Merah Club is located, at the junction of Alexandra Road and Jalan Bukit Merah.
The 0.79ha land parcel has a 99-year lease and can be built up to a total floor area of 239,486 sq ft.
A developer that wins the site can choose to demolish or retain the Safra building, which stands empty.
The site is the first of four hotel plots to be released on the Government’s reserve list in the second half of this year.
This means it will not be put up for tender until an interested developer submits a minimum bid acceptable to the Government.
But some property consultants, such as Mr Nicholas Mak, director of research and consultancy at Knight Frank, doubt that the site will attract much interest from developers due to its location.
‘If any developer were to be interested in this site, it is likely to be a small developer or hotel operator such as Fragrance Land or Hotel 81,’ he said.
However, Mr Ku Swee Yong, director of business development and marketing at Savills Singapore, noted that there could be room for a hotel in the area.
‘It looks like a weird place to have a hotel, but down the road you have office buildings where Hewlett-Packard, Neptune Orient Lines and PSA are,’ he noted.
‘All these companies are without hotel rooms to support their business traffic.’
Mr Mak estimates that the site can host a 600-room hotel. Its likely selling price is $95 million to $103 million, or $400 to $420 per sq ft per plot ratio, he added.
The Government has released a new hotel site where the former Safra Bukit Merah Club is located, at the junction of Alexandra Road and Jalan Bukit Merah.
The 0.79ha land parcel has a 99-year lease and can be built up to a total floor area of 239,486 sq ft.
A developer that wins the site can choose to demolish or retain the Safra building, which stands empty.
The site is the first of four hotel plots to be released on the Government’s reserve list in the second half of this year.
This means it will not be put up for tender until an interested developer submits a minimum bid acceptable to the Government.
But some property consultants, such as Mr Nicholas Mak, director of research and consultancy at Knight Frank, doubt that the site will attract much interest from developers due to its location.
‘If any developer were to be interested in this site, it is likely to be a small developer or hotel operator such as Fragrance Land or Hotel 81,’ he said.
However, Mr Ku Swee Yong, director of business development and marketing at Savills Singapore, noted that there could be room for a hotel in the area.
‘It looks like a weird place to have a hotel, but down the road you have office buildings where Hewlett-Packard, Neptune Orient Lines and PSA are,’ he noted.
‘All these companies are without hotel rooms to support their business traffic.’
Mr Mak estimates that the site can host a 600-room hotel. Its likely selling price is $95 million to $103 million, or $400 to $420 per sq ft per plot ratio, he added.
Marina Bay Residences
Presenting the Crown Jewel of Marina Bay
Poised to become the best address in Singapore, Marina Bay Residences is a new iconic landmark that will redefine the meaning of luxurious living.
Set in the heart of the brand new Marina Bay district, Marina Bay Residences offers residents a superb selection of business and pleasure activities. The Marina Bay Financial Centre is right next door and the corporate and business centre of Raffles Place is less than a five minute stroll away. With the new Marina Bay Sands integrated resort and the Esplanade just across the Bay, Marina Bay Residences is the ultimate location for living, working and playing.
An Architectural Masterpiece
How many people can claim ownership of a stunning home created by one of the world’s leading architects? The fortunate owners of Marina Bay Residences will be members of this very exclusive club.
Conceived and created by New York-based Gene Kohn of Kohn Pedersen Fox, the crystal-like architectural design of Marina Bay Residences is destined to become a landmark on the Bay and will add a signature image to Singapore’s skyline.
The façade of Marina Bay Residences is illuminated from below, creating a glorious night-time landmark. The sculpted crowns and sky gardens at the top are dramatically lit from the inside, forming a visual dialogue with the other crowns of the CBD skyline.
Live the high life
The incredible beauty of the views that you will enjoy from your living room are matched only by the luxurious fixtures and fittings that adorn your entire apartment. Create your own unique environment within the capacious and well-planned spaces of your home. Marina Bay Residences represents the epitome of luxury living and truly reflects your accomplishments in life.
District : 02
Address : 18 Marina Boulevard
Developer : A joint venture between Keppel Land, Hongkong Land and Cheung Kong Holdings
Related Link for Brochures
http://www.mbresidences.com.sg/download/brochure.zip
Related Link for Video
http://www.mbresidences.com.sg/download/mbfc.zip
Location: Next to Integrated Resort (Casino)
Marina Bay Residences. At the heart of it all.
Marina Bay Residences will place residents at the very heart of exciting Marina Bay and connect them to the rest of Singapore via the East Coast Parkway, the Raffles Place Mass Rapid Transport (MRT) station and the upcoming Circle Line MRT. The rest of the world is close by too – thanks to Marina Bay Residences offering easy access to Changi Airport. Residents can even commute to work along the Singapore River via river taxis.
All the right connections
As well as being your exclusive sanctuary of luxury, Marina Bay Residences places you in the very centre of things. The Central Business District and Raffles Place are literally right at your doorstep. Wireless broadband internet connections mean that you are never out of touch anywhere within the Residences. And, because it is integrated with the landmark Marina bay Financial Centre, Marina Bay Residences offer you the ultimate living and working choices in the very heart of Singapore's newest business district.
Indulge in Ultimate Shopping
Your new home at Marina Bay Residences will put you in close proximity to the finest shopping in Singapore. You will be in the midst of some of the world's most exclusive retailer brands including Saks Fifth Avenue and Neiman Marcus. Down by the new waterfront at Marina Bay, you will have a selection of shops and boutiques to explore. A short stroll will take you to mega malls like Marina Square and Suntec City. And you can be in the shopping mecca of Orchard Road in less than 10 minutes. Whether for life's daily necessities or the most luxurious brands, Marina Bay Residences puts you close to everything.
Picture : Artist Impression of Future Singapore Flyer OverviewVideo Link : http://tinyurl.com/2r2qn6
S'pore Flyer on path for early lift-off
The first viewing capsule has been hoisted up onto what's expected to be the world's largest observation wheel - the $240mil Singapore Flyer.
And with construction nearly two months ahead of schedule, it looks like all systems go for the Flyer to take flight by Valentine's Day
A wealth of entertainment options surround you
At Marina Bay Residences, you will be surrounded by a vast array of entertainment options thanks to the exciting new Marina Bay Sands integrated resort right next door.
This exciting new landmark in entertainment will also offer the most exquisite cuisine from around the world. Over a dozen restaurants, including six destination-style restaurants managed by world famous chefs from the US, Japan, Australia and Italy, are set to make Marina Bay and Singapore the epicurean capital of Asia.
You will also be able to enjoy world-class entertainment in two 2,000-seat theatres. Or explore the fascinating worlds revealed by a unique ArtScience Museum.
Dining experiences that set your senses alight
At Marina Bay Residences you will be spoilt for choice when it comes to superb dining experiences. Dine al fresco under the stars and by the water, at Boat Quay and the Marina Bay Waterfront. Enjoy the most exquisite repasts at Singapore's finest restaurants and hotels. Food lovers will also be able to treat themselves to authentic local cuisine at famous food centres. Whatever your tastes and fancies, Marina Bay Residences will meet your desires.
Discover the Fine Art of Living
Art lovers and theatre goers are well catered for at Marina Bay Residences. Just across the Bay, the stunning esplanade regularly hosts world-renowned artists and world-class performances. With the conversion of the old Supreme Court and City Hall buildings into Singapore's new National Art Gallery, you will be able to enjoy the critically acclaimed Asian and international artworks. An exciting revamp of the Collyer Quay will create a whole new space to show case the arts. And, even closer to home, Marina Bay Residences homeowners can explore the fascinating art galleries and boutiques that will line the new waterfront.
Immediately adjacent to Marina Bay Residences, the Central Promontory will be a signature waterfront development that will be home to many public attractions, including a museum, art gallery, science centre, planetarium or aquarium. It will also house retail, food and beverage, recreational and entertainment outlets as well as possible convention halls.
Picture : Artist Impression of Future Singapore FlyerRelax and unwind in the Gardens of the City
Living at Marina Bay Residences puts you in close proximity to the green sanctuaries of the Gardens By The Bay. These stunning parks and gardens will further enhance Singapore's reputation as a beautiful garden city. The 54-ha Marina South garden is planned around giant tree-like structures for orchids and ferns, shell-shaped cooled conservatories that showcase flowers and plants from more temperate climates and a mini-lake. Plans for the 30-ha Marina East garden include wind-and water-themed gardens featuring lotus ponds, eateries set amidst herb and vegetable gardens and a nature education centre. A third 10-ha garden in Marina Centre is also planned for.
Savour the pure joy of living by the waterfront
Marina Bay Residences offers the perfect setting to enjoy the sights and sounds of aquatic water sports, such as jet ski and wakeboard championships, water skiiing, canoeing and dragon boating in the newly created fresh water Marina Bay Reservoir. For those who desire less energetic pursuits, a jog or gentle stroll around the Bay will allow you to savour the glint of golden sunlight sparkling on tranquil waters and the stunning skyline of the city. You could even indulge yourself with a cruise on one of the many River taxis that meander up and down the Singapore River and the Bay.
Building : One 55-Storeys Tower
Tenure : 99 years w.e.f 14 July 2005
Total No. of Units : 428
Year of Completion : 2010
Types:
1 bedroom - 710-753 sqft
2 bedrooms - 980-1227 sqft
3 bedrooms - 1625-1991 sqft
4 bedrooms - 2368-2379 sqft
Duplex penthouses with roof terrace - 3606-4435 sqft
Single-level penthouses - 4468-4672 sqft
Super penthouse with roof terrace and private pool - 11011 sqft
Unmatched facilites with dazzling views
On its 7th floor, Marina Bay Residences provides a complete range of superb condominium facilities that combine stunning views with sumptuous luxury. Splash out in the lap pool and children’s pool, relax in the Jacuzzi, stroll through open pavilions, enjoy intense workouts in the gym or wind down with a cool evening barbecue and take in the glorious sights of the sea, the Bay and the CBD skyline.
NEAREST MARKETS / FOOD CENTRES
Golden Shoe Car Park And Market Street Food Centre
50 Market Street Singapore 048940
How Far? 0.49 km
China Square Food Centre
51 Telok Ayer Street Singapore 048441
How Far? 0.50 km
Ministry Of National Development (MND)
7 Maxwell Road Singapore 069111
How Far? 0.79 km
Amoy Street Market And Food Centre
How Far? 0.80 km
Upper Cross Street Block 531A Market And Food Centre
531A Upper Cross Street Singapore 051531
How Far? 0.97 km
NEAREST MRT STATIONS
Raffles Place (EW14-NS26)
5 Raffles Place Singapore 048618
How Far? 0.42 km
Marina Bay (NS27)
21 Marina Station Road Singapore 018990
How Far? 0.59 km
Tanjong Pagar (EW15)
120 Maxwell Road Singapore 069119
How Far? 1.00 km
Clarke Quay (NE5)
10 Eu Tong Sen Street Singapore 059815
How Far? 1.12 km
Chinatown (NE4)
151 New Bridge Road Singapore 059443
How Far? 1.16 km
NEAREST SHOPPING CENTRES / MALLS
Change Alley Aerial Plaza
60 Collyer Quay Singapore 049322
How Far? 0.28 km
Arcade, The
11 Collyer Quay Singapore 049317
How Far? 0.30 km
Clifford Centre
24 Raffles Place Singapore 048621
How Far? 0.34 km
Republic Plaza
9 Raffles Place Singapore 048619
How Far? 0.40 km
OUB Centre
1 Raffles Place Singapore 048616
How Far? 0.45 km
NEAREST SCHOOLS
Singapore Accountancy Academy (City Campus)
1 Raffles Place Singapore 048616
How Far? 0.45 km
Singapore Institute Of Labour Studies
How Far? 0.87 km
American College - Bestway Building (Private School)
12 Prince Edward Road Singapore 079212
How Far? 1.00 km
Singapore Academy Of Law
1 Supreme Court Lane Singapore 178879
How Far? 1.05 km
Singapore Institute Of Commerce (SIC Riverwalk Campus)
20 Upper Circular Road Singapore 058416
How Far? 1.06 km
Indulge yourself totally
On the 47th floor, Marina Bay Residences takes luxury to a new level with a wonderful spa-like retreat that sets you high above it all. Here you can relax and escape from the challenges of a busy working day by practicing yoga as the lights of the city glitter and dance far below you. Relaxation and meditation corners as well as cosy function rooms allow you to escape to your very own exclusive world of luxury.
Marina Bay's most exclusive club
When you live at Marina Bay Residences, you will join a very select few. And the magnificent 47th floor Sky Lounge is a fitting reflection of this achievement. Mix and mingle with other high flyers and achievers as you enjoy the most privilege views in Singapore. A superb wine cellar and select cigar room complete the ambience of total exclusivity.
On its 7th floor, Marina Bay Residences provides a complete range of superb condominium facilities that combine stunning views with sumptuous luxury. Splash out in the lap pool and children’s pool, relax in the Jacuzzi, stroll through open pavilions, enjoy intense workouts in the gym or wind down with a cool evening barbecue and take in the glorious sights of the sea, the Bay and the CBD skyline.
Facilities :-
-Lap Pool
-Children's Pool
-Jacuzzi
-Open Pavilions
-Gymnasium
-BBQ Area
-Sunset Lounge
-Yoga Deck
-Reflecting pool
-Clubhouse
-Steam Bath
-Function room
-KTV
-Children's Playground
-Basement Car Park
-24 Hours Security
All you could possibly desire... and more
At Marina Bay Residences you will be able to wake up every morning to the glorious sight of the sun sparkling on the Bay. Enjoy a delicious cup of coffee as you relax on the balcony and savour the cool sea breezes. Every day at Marina Bay Residences is a gift to the senses and a confirmation of your good taste. For the ultimate lifestyle of luxury on Marina Bay, there is only one place to be... Marina Bay Residences.
Scott HighPark
Scotts HighPark – A freehold boutique development located at Scotts Road on the former Melia at Scotts hotel site, has 73 luxurious homes.With a unique concept, the Penthouse Series at Scotts HighPark has recreated the luxuries of living in a penthouse or landed property in each of the apartments, especially for the largersized four-bedroom units.
These apartments have very large interior living spaces, complemented by a generous stretch of veranda that runs right across the frontage of the apartments. With this unprecedented architectural feature, Scotts HighPark has set a new design benchmark in high-rise condominium living.
The design concept for Scotts HighPark condominium has a strong emphasis on nature, with lush sky gardens built on every four floors. The development, with its contemporary architectural lines, has two residential towers of 19 and 27 stories. The first tower, with 19 floors, comprises elegant two / three-bedroom apartments. Sizes range from 1,141 sqft to 2,110 sqft.
Location: Scotts Road (District 11)
Map Source : http://www.streetdirectory.com
Tenure: Freehold
Expected TOP: Feb 2010
Total Units: 73 in one 19-storey tower & one 27-storey tower
Units Types:
2-Bedroom & 3-Bedroom ~ 1,141 to 2,110 sqft
4-Bedroom single-level/duplex ~ 3,466 to 4,112 sqft
Penthouse ~ 6545 sqft
Facilities:
-Swimming Pool
-Wading Pool
-Gymnasium
-Function Room
-Male and Female Changing Rooms/Steam Room
At the 27-storey residential tower, buyers choose from a ‘penthouse series’ comprising single-level and duplex layouts. These four-bedroom units range from 3,466 sqft to 4,112 sqft in size. They enjoy generous verandas that stretch across the full frontage of the units, extending the interior space and creating an expansive living area. The duplexes in this series come with private Jacuzzis at the verandas. On the top floor of this tower is the largest unit in the development. It is a luxurious 6,545 sqft penthouse with five bedrooms and generous roof terraces.
Residents enjoy private lifts that link their homes directly to the car park. Scotts HighPark is expected to obtain Temporary Occupation Permit in early 2010.
Scotts Highpark is located right above the Newton MRT underground station which is just one stop away from the Orchard MRT station. But if you would like to have a stroll with your loved ones or even your dog, it'll only take you about 7 minutes to walk down to Orchard Road.
Simply said, Scotts Highpark has one of the best location in District 9 & 10. Sheraton Towers Hotel is just beside this luxury condo, so your visitors can definitely stay right next to where you live!
And if you want to have a taste of great local food, Newton Food Centre have a wide variety of mouth-watering food and desserts, and it's literally just around the corner!
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