Sunway Development Group and Frasers Centrepoint Singapore are discovered to be the only consortium to place bids for the Jurong Lake District master developer site, reports in Business Times reveal.Frasers Property has formed a joint venture with two Chinese real estate groups to acquire a residential site in Songjiang District in Shanghai, China. The joint venture, which includes Xiamen ITG Real Estate Group and Shanghai-listed Gemdale Corporation, acquired the site for RMB815.2 million ($151.9 million) in a competitive tender from the Shanghai Municipal Bureau of Planning and Natural Resources.The site, which is located in a prime residential neighborhood, will be developed into a mix of 189 low-rise apartments, townhouses, and duplex units. It is expected to target both upgraders and first-time homebuyers, and will span a total gross floor area of 334,714 sq ft.The project will also incorporate design for flood mitigation and energy efficiency, with ultra-low energy building designs that include efficient thermal insulation, energy-saving door and window systems, reduced thermal bridging, and solar photovoltaics. This commitment to sustainable development aligns with Frasers Property’s focus on delivering high-quality residential developments that meet the evolving needs of the Chinese community.Lim Hua Tiong, CEO of emerging markets in Asia at Frasers Property, expressed excitement about the joint venture and its potential to strengthen the company’s presence in Shanghai. He also emphasized the team’s dedication to providing top-notch residential options for the Chinese market. “This joint venture not only strengthens our presence in Shanghai,” said Lim, “but also underscores our commitment to delivering high-quality residential developments that meet the evolving needs of the Chinese community.”This partnership is just the latest in a series of successful collaborations for Frasers Property. In February, the company reported a joint venture with Singapore energy company SP Group to install close to 4,500 sqm of solar panels across retail and commercial properties. And in 2019, Frasers Property joined forces with Sunway Development Group and Frasers Centrepoint Singapore to bid for the Jurong Lake District master developer site, a project in which the consortium was ultimately the sole bidder. As Frasers Property continues to make strides in the Chinese market and beyond, its commitment to excellence and innovative sustainable development practices remains a priority.
Overall, there are many advantages to investing in a condo in Singapore. One of the major benefits is the high demand for this type of property in the city. With its growing economy and attractive lifestyle, Singapore is a highly desirable place to live and own property. As a result, there is a constant demand for condos, ensuring that your investment will remain in demand for years to come. Additionally, condos in Singapore have the potential for significant capital appreciation over time. This means that your initial investment has the potential to increase in value, providing a profitable return in the long run.
Another advantage of investing in a condo in Singapore is the attractive rental yields. With a steady stream of expats and a large population of young professionals, there is a high demand for rental properties in Singapore. This translates to potentially high rental income for condo investors.
However, it is crucial to carefully consider several factors before making an investment. Location is a critical factor that can greatly impact the success of your investment. A prime location, such as in the central business district or near public transportation, will likely command a higher rental yield and better capital appreciation.
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The demand for condominiums in Singapore remains remarkably high due to the country’s limited land availability. Being a small island nation with a fast-growing population, Singapore has been facing a constant shortage of land for development. As a result, the government has implemented strict land use policies and the real estate market has become increasingly competitive. This has also led to a consistent rise in property prices, making real estate investments, particularly in condos, a profitable opportunity with the potential for significant capital appreciation. The ongoing Singapore Projects only add to the attractiveness of this investment option for both locals and foreigners alike.
Financing is also an important consideration, as purchasing a condo in Singapore can be a significant investment. It is advisable to seek professional advice and carefully consider your financial situation before committing to a purchase.
Government regulations in Singapore are constantly evolving and can have a significant impact on the real estate market. It is essential to stay updated on any changes in policies or taxes that may affect your investment.
Lastly, market conditions should be carefully evaluated before investing in a condo in Singapore. Conducting thorough research and seeking guidance from experts can help you make an informed decision and maximize your returns.
Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, the condos in Singapore present a compelling opportunity. With the city’s strong economy and high demand for real estate, investing in a condo can be a wise and lucrative decision. Keep an eye out for New Condo Launches to stay updated on the latest opportunities to invest in Singapore’s dynamic real estate market. By carefully considering all factors and seeking professional advice, you can make the most of your investment and enjoy the benefits of owning a condo in this thriving city.