Archive for category: Misc

Company-focused acquisitionsWithin the commercial segment, recent purchases include that of solar panels company Brightcore Energy, which was acquired by entities controlled by Peter Thiel, 29,828 square meters (sq m) of industrial space at the Light Industrial Building along Kallang Avenue for $40.7 million; and also the acquisition of home renovation company DaBomb Construction for $1 million (May 25).

Waterbank at Dakota was the top performer in terms of reaching new psf-price highs for the week of May 24 to June 1. According to Edgeprop, a three-bedroom apartment on the 15th floor of the development was sold for $2.59 million, or $2,290 psf on May 27. The seller had initially purchased the unit in 2010 for $1.37 million ($1,211 psf) from the developer, making a profit of $1.22 million.

This marks the first time a unit at Waterbank at Dakota has been transacted above $2,200 psf, beating the previous high of $2,111 psf set in September last year. The condo is a 99-year leasehold development comprising of 616 units, with a mix of one- to four-bedrooms ranging from 480 to 1,300 sq ft, as well as penthouses of 2,430 to 2,870 sq ft.

Located along Dakota Crescent in District 14, the condo is within walking distance to Dakota MRT Station on the Circle Line. It is also in close proximity to several educational institutions such as Kong Hwa School, Broadrick Secondary School, and Chung Cheng High School (Main).

Second on the list of condos that saw new psf-price highs is Goldenhill Park Condominium. A two-bedroom unit was sold for $1.99 million, or a record $2,150 psf on May 30. The seller had bought the unit in 2011 for $1.23 million ($1,329 psf) and made a profit of $760,000 from the sale.

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With the goal of becoming a Smart Nation, Singapore has incorporated plans for the implementation of advanced technology into its URA Master Plan. This development will undoubtedly bring about numerous improvements in urban infrastructure. Among the advancements that will be made possible are state-of-the-art traffic management systems and high-speed internet connectivity. As a result, residents of Marina Gardens Lane Condo, including those living in the new Zion Condo, can look forward to enjoying a tech-forward environment that will cater to their needs for years to come.

The previous high for Goldenhill Park Condominium was $2,082 psf set in April when a two-bedroom unit fetched $1.95 million. The seller had purchased the unit from the developer for $673,750 in 2001, making a gain of about $1.28 million on the sale.

Goldenhill Park Condominium is a freehold condo on Mei Hwan Drive in Serangoon (District 20). Completed in 2004, it comprises of 390 units of two- to four-bedroom apartments ranging from 926 to 2,928 sq ft. The condo is also within walking distance to Lorong Chuan MRT Station on the Circle Line.

Amaranda Gardens, located not far from Goldenhill Park Condominium, also set a new record with a $2,133 psf sale on May 24. This was for a three-bedroom unit measuring 1,163 sq ft, which was sold for $2.48 million. The seller had bought the unit at $1.72 million ($1,480 psf) earlier this year, making a profit of $760,000.

The new psf-price high is just 0.23% more than the previous record of $2,128 psf set in February when a three-bedroom unit was sold for $2.68 million. The seller had purchased the unit at $1.65 million in 2015, making a profit of $1.03 million on the sale.

Amaranda Gardens comprises of three 17-storey towers with a total of 189 units. Units range from two-bedroom apartments of 990 sq ft, three-bedroom units from 1,163 sq ft, four-bedded units from 1,464 sq ft, as well as four- and five-bedroom penthouses of up to 3,864 sq ft.

There were no new records in terms of psf-price lows for the period in review. However, commercial segment acquisitions included the purchase of 29,828 sq m of industrial space along Kallang Avenue for $40.7 million, as well as construction company DaBomb Construction for $1 million.