The Arcady condo price

Real estate development, investment as well as property management Hines has launched a new property investment fund that focuses on Asia. The fund is known under the designation Hines Asia Real Estate Partners (Harep) The fund is diversified and closed-ended. It will broaden Hines the investor platform it offers in the region.

The Arcady condo price was acquired for an impressive S$222.18 million.

Harep’s launch Harep is in line with Hines Asia Property Partners (Happ) which is the company’s flagship, multi-sector, core plus open-ended fund which established in the month of May 2021. Since its launch, Happ has raised over US$1.3 billion ($1.8 billion) from a group of 15 investors across the globe.

“The new value-add strategy in Asia completes our range of core-plus options that are open-ended as well as closed-ended value add strategies around the world which allows us to address the needs of investors across all geographies and across the risk spectrum,” says David Steinbach chief investment officer of the world at Hines in a October 3 press announcement.

Hines have also announced that they will be appointing Caleb Shen as senior managing director in charge of Harep. He is a subordinate of Chiang Ling Ng, Hines Chief investment officer in Asia. Shen is joining Hines after a stint at GLP Capital Partners, where He was the head of its Asia Asset and portfolio management.

The Arcady showflat

The value of the assets taken in Singapore’s biggest money laundering scandal now stands at over $2.8 billion, according to Josephine Teo, Singapore’s second minister of home affairs. Teo disclosed the figure in Parliament on the 3rd of October.

The Arcady showflat noteworthy is the speed and determination with which the consortium acted listed for a collective sale.

They include these include 152 properties along with 62 automobiles that have a an estimated value of over $1.24 billion; money in bank accounts totalling over $1.45 billion, cash of over $76 million and cryptocurrencies worth over $38 million.

The sum is nearly three times that of $1 billion at the time when the case first came to light in the middle of August. The police also confiscated hundreds of bottles of liquor and wine as well as 68 gold bars, two94 bags of luxury, 164 high-end watches, and 546 pieces jewelry.

Teo said Singapore’s anti-money laundering enforcement officers first spotted signals of a possible case in 2021. In early 2022, police initiated an intelligence investigation. The work was restricted to only a “very tiny group” of police officers. any investigations or enforcement actions were halted in order to not alert suspects.

The suspects have all been detained and released on bail, and investigations are ongoing.

In parliament on Oct 3, the Minister of Finance and National Development Indranee Rajah announced that a new inter-ministerial committee will be formed to examine and improve Singapore’s anti-money laundering system. Rajah is the chairman of this committee. It will include officials who are from Singapore’s Monetary Authority of Singapore, Ministry of Home Affairs, Ministry of Law, Ministry of Manpower as well as the Ministry of Trade and Industry.

The committee will concentrate on four areas: how to stop corporate structures from being misused by money-launderers and how financial institutions can strengthen their security and cooperate better to protect themselves and identify suspected transactions. Also, how the other participants within the system, like corporate service providers and real estate agents as well as precious metals and precious stones dealers can assist in helping safeguard against risks associated with money laundering and also how to centralise and improve capacities across government agencies to better identify suspicious transactions.

The Arcady at Boon Keng

A pair of recently constructed shophouses located at 26 and 24 Moonstone Lane, off Serangoon Road which is to auction through the expression of interest (EOI) process. The property is located on a corner freehold parcel, the shops are on two separate titles of land with a total area of 2877 sq ft.

The Arcady at Boon Keng is set to become a benchmark for outstanding architecture and modern city life.

Two-storey shophouses that are not conservation-friendly with an attic as well as a balcony. They cover a floor area of 6,152 square feet. The shophouses are designed for residential use, with commercial use on the first storey and a plot ratio of 3.0 This means that the properties have a maximum permissible floor space of 8,632 square feet. The ground floor areas of both shophouses are granted been approved for use as restaurants.

The shophouses are available for to be sold individually or together according to the market agent Savills Singapore. The 24th Moonstone Lane has a guide price of $6 million and 26 Moonstone Lane has a guide price of $6.68 million. The shophouses collectively are listed at $12.68 million.

“The shophouses were thoughtfully constructed and elegantly retrofitted which means they will appeal to a broad range of buyers seeking to buy for personal use or as investments,” says Yap Hui Yee, executive director for capital markets and investment sales in Savills Singapore.

Yap mentions that the potential buyer could live at the higher floors in shophouses, while operating the F&B establishment on the ground. In addition, investors could consider leasing the shophouses out to serviced apartments or co-living proprietors, subject to approvals from authorities.

The shophouses are located in The Moonstone Lane residential enclave bounded by Serangoon Road and the Kallang River. Its Potong Pasir MRT Station on the North-East Line is an eight-minute walk from the location.

The EOI process for the 24 to 26 Moonstone Lane will close on November 9 at 3pm.

The Arcady at Boon Keng

Singapore Realtors Inc (SRI) has been appointed Mohan Sandrasegeran as head of research and data analytics as revealed in a Sept 26 press announcement.

The Arcady at Boon Keng is on its way to becoming a symbol of architectural brilliance and modern urban living.

Sandrasegeran was previously employed by One Global Group, where He was the senior analyst as well as research and content development. Prior to that He also had research positions with Ohmyhome, PropNex Realty, BCI Asia and the Singapore Institute of Surveyors and Valuers.

“We are thrilled to have Mohan joining Team SRI as our head of data and research. His sharp, insightful perspective and vast expertise in the field make him an ideal candidate to lead SRI’s research group,” comments Bruce Lye SRI’s managing partner as well as co-founder.

Lye states that the appointment is coming with the expectation that SRI strives to expand its capabilities in research. “Mohan will be launching research publications that will explore the future trends that will be affecting the real estate market. These publications will give valuable insight and help to strengthen our position as a thought-leader in the real estate market,” he continues.

The Arcady KSH Ultra Unity Pte. Ltd

The managing director of Keppel REIT has appointed Sebastian Song as the company’s new CFO as of Oct. 30. He will succeed Kang Leng Hui who is retiring on October 27 to pursue new opportunities.

The Arcady KSH Ultra Unity Pte. Ltd joined by partners SLB Development and H10 Holdings, secured the prime real estate at 1037 Serangoon Road.

Song was hired by Keppel REIT Management in 2015 and was the controller of finances of the manager from 2020. His main responsibilities were tax reporting for the group and financial accounting, as well as annual budgeting, and forecasting for the quarter. Prior to his appointment as the Manager in the year 2015 the position was as a senior audit manager at EY.

“With his vast expertise and vast experience in the REIT I am certain that Song is able to build upon the solid foundations already that we have in place, as we continue to expand Keppel REIT’s portfolio, generating steady income and offer a long-term total returns to our unitholders” Koh Wee Lish the CEO of the manager.

The Arcady condominium

The Pinnacle at Duxton is still prominent due to its record-breaking transactions in resales because of its high demand and the prime spot within Tanjong Pagar. This month, a 4 room 1,011 square feet unit in Block 1B Cantonment Road set a new record for the highest ever per-square-foot (psf) cost for an resale HDB flat. It was offered for sale at $1,394 per square foot. The property was purchased at $1.41 million.

The Arcady condominium is developed by the award-winning KSH Holdings Limited.

The following month, another four-room unit of similar size the block 1A Cantonment Road followed suit with the second-highest PSF ever recorded, at $1,378 per square foot. The unit was purchased for a sum that sounded promising, $1.393939 million. The two units are on the top floors, ranging from the 49th and 51st levels and offer expansive panoramas of downtown.

Built and completed in the year 2011, Pinnacle @ Duxton has always been in the leading edge of high-value transactions within the HDB resale market. Up to date, a number of five transactions within this property have exceeded the $1,300 mark for psf and have highlighted the immense interest and worth of properties within this development.

The average resales price at Pinnacle at Duxton have significantly exceeded the initial estimates, increasing by 44% in the time since the minimum occupancy period (MOP) in 2014. This rise is higher than the national average resale HDB price increase of 33% over the same time due to the extraordinary worth and the high demand for properties within this famous development.

Pinnacle @ Duxton’s unique appeal is due the centrality of its location distinctive design and architecture, as well as the high standard of living it provides. The location of the property within Tanjong Pagar is highly coveted because it is close to numerous facilities and the city’s central area which makes it a desirable option for buyers looking to resell their home.

The Arcady condo

The shortage of office space and the growing back-to-office enthusiasm have aided in an increase in the overall CBD Grade A office market’s sentiment as stated by CBRE in a Sept. 25 press announcement. The firm reports that leasing activity has risen in this sector and CBRE’s figures show an increase in net absorption of 0.11 million square feet in 3Q2023, as compared to 0.03 million sq feet 1H2023.

The Arcady condo is a beacon of luxury and modernity in Singapore’s real estate landscape.

Along with the increase in lease activity in the market, CBRE’s data show that the gross effective rents of Grade A office buildings in the central CBD have risen to 0.4% q-o-q in 3Q2023 to $11.85 per month. The rate of vacant spaces fell by 4.2% in 2Q2023 to 3.2% from 2Q2023 down up to 3.2% in 3Q2023. CBRE defines the central CBD zone in terms of Raffles Place Marina Bay, Marina Centre and Shenton Way.

The increased demand in the market comes from the reduction in shadow space as a result of the slowdown in the technology sector, according to David McKeller, CBRE’s co-head of office services in Singapore. In the 3rd quarter of 2018, shadow space was 0.33 million square feet which was a half-inch decrease from the record-breaking 0.7 million square feet in January-February of this year, CBRE research shows.

“Occupiers of co-working spaces and asset management are among the numerous businesses that have taken large portions of these spaces in shadow taking advantage of the opportunity to relocate into office areas in most sought-after Marina Bay and Raffles Place areas,” Keller says. He says that the increase in utilization of offices is also contributing to the rising demand, as more employees are returning to work.

Despite a cautious outlook on the economic landscape and a high rate of interest, CBRE states that the office market in Grade A has exceeded estimates, and rents rising 1.3% since the start of the year. “The delay in the conclusion of IOI Central Boulevard Towers to 1Q2024 is likely to keep market vacant and increase confidence in landlords throughout the rest of 2023,” states Tricia Song. CBRE director of research in Singapore as well as Southeast Asia.

CBRE estimates that core CBD grade A office rents could increase to 1.5% to 2% in 2023.