Billionaires Double Down On Singapore Prime Property Buys As Demand For Luxury Homes Surge

Billionaires Double Down On Singapore Prime Property Buys As Demand For Luxury Homes Surge

Billionaires Kwek Leng Beng and Gordon Tang are buying S$965 million ($704 million) worth of prime properties in Singapore, doubling down on their investments in redevelopment sites in and around the city’s financial district amid soaring demand for luxury homes.

City Developments—controlled by Kwek and his family—said late Thursday it agreed to buy Central Square from Far East Hospitality Trust, a unit of Robert and Philip Ng’s Far East Organization, for S$315 million. The Singapore-listed developer said it plans to combine Central Square with its adjacent Central Mall and redevelop the two sites (with combined area of about 21,400 square meters) into a mixed-use office, hospitality, serviced apartments and potentially a residential component.

Developers have been stepping up the redevelopment of older properties in land scarce Singapore to tap into the soaring demand for housing in one of the world’s most expensive real estate markets. Some 4,267 new residential units were sold in the third quarter, up 23{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} from the previous three months, latest data from the government showed.

The acquisition of Central Square is expected to be completed in the first quarter of 2022. City Developments said it will pay Far East Hospitality an additional S$18 million if it gets government approval to add a residential component in the project.

“The strategic acquisition of Central Square crystallizes our master plan to shape the precinct’s transformation into a new and vibrant lifestyle hub,” Sherman Kwek, group CEO of City Developments and eldest son of Kwek Leng Beng, said in a statement. “This rare placemaking opportunity augments our role in rejuvenating the Singapore River precinct and aligns with our enhancement strategy to unlock the latent value of our matured assets.”

The redevelopment of Central Mall and Central Square is the latest project City Developments is undertaking to rejuvenate the central business district. In partnership with CapitaLand, City Developments is redeveloping the site of the former Liang Court commercial complex into a mixed-used residential, commercial, hotel and serviced apartment development. The duo sold 83{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of the 696-unit Canninghill Piers, which would be the tallest residential structure along the Singapore River when completed, after launching the project last month.   

City Developments is among the most active developers of luxury homes in the CBD, having completed the construction of The Sail @ Marina Bay residential skyscraper in 2008, one of the first residential buildings in the new Singapore downtown. The company is also redeveloping the former Fuji Xerox Towers in the Tanjong Pagar district into a mixed-use property with office, retail, residential and serviced apartment components.

The strong demand for luxury homes in the CBD has also attracted other developers, with a consortium led by Chip Eng Seng and SingHaiyi—both controlled by billionaire couple Gordon & Celine Tang—agreeing on Friday to buy Peace Centre/Peace Mansion near the Orchard Road shopping district for S$650 million. The consortium plans to transform the 7,118 square meter site into a mixed-used commercial and residential development, subject to regulatory approvals.

The transaction comes on the heels of the acquisition in May of Maxwell House by Chip Eng Seng, SingHaiyi and Chuan Investments for S$276.8 million. The property in Tanjong Pagar will also be redeveloped into a mixed-use commercial and residential project, subject to regulatory approvals.

Sales of older properties for redevelopment have been picking up in Singapore, fueled by rising demand for housing, low interest rates and limited supply of land across the city-state. In October, a joint venture between UOL Group and Singapore Land—both controlled by billionaire banker and developer Wee Cho Yaw—won the auction for the Watten Estate Condominium in the prime Bukit Timah district in western Singapore with a bid of S$550.80 million.

20 essential terms for commercial real estate investing | Multimedia

20 essential terms for commercial real estate investing | Multimedia

If you’re looking for a way to build a solid financial footing and passive income streams, most experts will tell you that a long-term asset allocation strategy is key. There are lots of different investment avenues you can take to build wealth or just add some stability to your finances but pouring all of your spare cash into the tumultuous stock market or cryptocurrency could be a risky proposition. After all, it’s not uncommon for these markets to take a nosedive on occasion, and when they do, they take your cash with them.

That said, not all investments are so volatile. Some types of investments, like commercial real estate, can bring stability to one’s portfolio while offering significant upside potential if the investment plan is executed the right way. In fact, long-term commercial real estate investment returns can and often do outperform other types of investments.

 As of 2021, the average 25-year returns on commercial investments were about 10.3{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} annually, according to a report from the National Council of Real Estate Fiduciaries. That is about 0.7{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} higher than the average 25-year annual return of 9.6{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} from the S&P 500 index. Low volatility asset classes like these offer investments that are less likely to change quickly—particularly for the worse.

There are tons of different commercial real estate opportunities to choose from, making it simple to diversify a portfolio. Office properties, multifamily rental properties, retail spaces, mixed-use buildings, and industrial properties are all commercial real estate investment options. Plus, there are a variety of ways to get into commercial real estate investing—and not all of them rely on an investor shelling out the cash and energy to purchase and manage a commercial building. Real estate investors can certainly buy and manage their own properties, but they also have the option to help directly fund other investors’ projects or buy into crowdfunding opportunities. This can help to further mitigate the risk that comes with buying and managing commercial real estate investments—and offers an easy return on the investment when the property performs as expected.

Before you dive headfirst into the world of commercial real estate investing, though, it’s important to understand the key terms that come along with it. To get you started, EquityMultiple compiled a list of 20 important terms that a commercial real estate investor—whether new or a seasoned pro—should know.

Master Gardener: Tips for selecting a live Christmas tree | Home & Garden

Master Gardener: Tips for selecting a live Christmas tree | Home & Garden

If you decided to select a pre-cut tree, pick one of the freshest you can find. Fresh needles bend easily. When the trees have dried out, their needles will snap.

Once you have your tree home, it’s a good idea to saw off about one inch from the bottom of the tree. After doing this, place the tree in a container of water. If it will be a few days before you bring it in to decorate, store it in a cool place such as your garage.

When you do bring it inside, be sure you place the tree in a stand that will hold some water. Keeping your tree dry should help minimize any fire hazard with the tree.

Another way to minimize the risk of fire is to locate the tree away from heat sources such as a heater vent or especially the fireplace. And make sure your stand is of an appropriate size to keep the tree anchored in place because no one wants their tree to fall over.

Also, to help ensure a safe Christmas, only leave the tree lights on when a responsible person is home, and never leave the lights on if you are going to be away from the house. After Christmas, be sure to remove the tree before it gets overly dry. Good luck!



Robert Knight explains pecan harvesting at Knight Creek pecan farms.







You can get answers to all your gardening questions by calling the Tulsa Master Gardeners Help Line at 918-746-3701, dropping by our Diagnostic Center at 4116 E. 15th St., or by emailing us at mg@tulsamastergardeners.org

ASEAN Home Improvement Market Insights & Forecast 2021-2025: A US.90 Billion Market by 2025 – ResearchAndMarkets.com

ASEAN Home Improvement Market Insights & Forecast 2021-2025: A US$10.90 Billion Market by 2025 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “ASEAN Home Improvement Market (Indonesia, Singapore, Philippines, Thailand & Malaysia): Insights & Forecast with Potential Impact of COVID-19 (2021-2025)” report has been added to ResearchAndMarkets.com’s offering.

The ASEAN home improvement market is forecast to reach US$10.90 billion in 2025, experiencing growth at a CAGR of 9.22{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} during the period spanning from 2021 to 2025.

Growth in the ASEAN home improvement market was supported by factors such as increasing population in ASEAN countries, skyrocketing house prices, rapid urbanization and favorable demographic structure. Rising e-commerce penetration and increase in work from home and freelancing jobs is likely to have a positive impact on the ASEAN home improvement market. However, the market growth is expected to be restrained by shortage of labor and economic slowdown.

The ASEAN home improvement market can be segmented into the following regions: Indonesia, Thailand, Malaysia, Philippines and Singapore. In 2020, the dominant share of ASEAN home improvement market was held by Indonesia, followed by Thailand.

The Singapore home improvement market by category can be segmented into the following categories: bathroom and sanitary ware, home paint, hardware, kitchen sinks, power tools, wall coverings, and hand tools. The largest share of the market was held by bathroom, followed by home paint and hardware.

The ASEAN home improvement market by retail space per capita can be segmented into the following regions: Indonesia, Thailand, Malaysia, Philippines and Singapore. In 2020, the dominant share of home improvement retail space per capita was held by Malaysia, followed by Thailand. Factors such as unaffordable home loans and rising disposable income in ASEAN countries helped in boosting the market growth.

Scope of the report

  • The report provides a comprehensive analysis of the ASEAN home improvement market.
  • The major regional markets (Indonesia, Thailand, Malaysia, Philippines and Singapore) have been analyzed.
  • The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
  • The competitive landscape of the market, along with the company profiles of leading players (Ace Hardware Indonesia, Dairy Farm International Holding Limited, Siam Global House Public Company Limited, Home Product Center Public Company Limited, Mr D.I.Y. Group and AllHome Corp.) are also presented in detail.

Growth Drivers

  • Accelerating Population Growth
  • Skyrocketing House prices
  • Unaffordable Home Loans
  • Rapid Urbanization
  • Favorable Demographic Structure
  • Rising Disposable Income

Key Trends & Developments

  • Rising E-commerce Penetration
  • Rising Trend of Freelancing
  • Technologically Advanced Home Improvement Products
  • Increase in Work from Home Jobs
  • Popularization of Do-It-Yourself (DIY)

Challenges

  • Economic Slowdown
  • Shortage of Labor

Key Topics Covered:

Market Overview

  • Home Improvement
  • Types of Home Improvement
  • Products Used in the Home Improvement
  • Building and Remodeling
  • Home Decor
  • Tools and Hardware
  • Outdoor Living
  • Types of Home Improvement Projects
  • DIFM Home Improvement Project
  • DIY Home Improvement Project
  • Advantages of Home Improvement Projects
  • Disadvantages of Home Improvement Projects

Impact of COVID-19

  • Impact of COVID-19 on Home Improvement Market
  • Decline in GDP Growth
  • Decrease in Labor Supply
  • Growth in E-commerce Market
  • Shift to Work from Home
  • Post-COVID Scenario

ASEAN Market Analysis

  • ASEAN Home Improvement Market by Value
  • ASEAN Home Improvement Market Forecast by Value
  • ASEAN Home Improvement Market by Region
  • ASEAN Home Improvement Market by Spending Per Capita
  • ASEAN Home Improvement Market by Retail Space Per Capita
  • ASEAN Home Improvement Market by Stores Per Million People

Regional Analysis

Market Dynamics

Competitive Landscape

  • Revenue Comparison- Key Players
  • Market Capitalization Comparison- Key Players
  • Product Comparison- Key Players

Company Profiles

  • Ace Hardware Indonesia
  • Dairy Farm International Holding Limited
  • Siam Global House Public Company Limited
  • Home Product Center Public Company Limited
  • Mr D.I.Y. Group
  • AllHome Corp.

For more information about this report visit https://www.researchandmarkets.com/r/togkdv

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Reno, Nevada, real estate: What you can get for .5M

Reno, Nevada, real estate: What you can get for $2.5M

Check out what’s clicking on FoxBusiness.com.

Reno is known as “The Biggest Little City in the World,” and sits in the High Sierra foothills near Nevada’s border with California.

Famed for its casino industry and tourism, Reno is also attractive to businesses and real estate buyers due to its favorable tax laws.

Reno Nevada

A recently updated “Biggest Little City in the World” sign March 3, 2020, in Reno, Nevada.  (George Rose/Getty Images / Getty Images)

There is also an array of recreational activities both year-round and seasonally. With Lake Tahoe, the Truckee River and Pyramid Lake all in the area, there are plenty of water activities in the summer, while skiers and snowboarders take to the mountains in the winter.

According to data from Realtor.com, there are around 1,330 active home listings in Reno, with a median listing price of $539,000.

Here’s what you can get in Reno with a $2.5 million budget:

Meadow Rock Court – $2,500,000

Reno home

This Reno home is listed for $2.5 million (MousePad Media)

This 3,357-square-foot home built in 2019 sits on nearly an acre and has extensive mountain views.

There are an array of custom features according to the listing by J.P. Menante with Dickson Realty, and all furnishings are in included.

Reno home

This Reno home is listed for $2.5 million (MousePad Media)

CLEVELAND, OHIO, REAL ESTATE: WHAT YOU CAN GET FOR $1.3 MILLION

The kitchen has a huge island with bar seating along with a breakfast nook, pantry and a separate formal dining room with high ceilings.

Reno home

This Reno home is listed for $2.5 million (MousePad Media)

The home has three bedrooms and 3.5 bathrooms, and its master suite has a walk-in closet and bath with double sinks and a garden tub.

Reno home

This Reno home is listed for $2.5 million (MousePad Media)

BILOXI, MISSISSIPPI, REAL ESTATE: WHAT YOU CAN GET FOR $900K

The great room has a fireplace and so does the home’s central courtyard.

Reno home

This Reno home is listed for $2.5 million (MousePad Media)

Outdoor features include the home’s 20-by-40-foot in-ground pool along with a spa and an outdoor kitchen, including a barbecue. The property is fully landscaped and also has a putting green.

The home has a three-car garage and room for RV parking.

Timbercreek Court – $1,999,000

Reno home

This Reno home is listed for $1,999,000. (Matthew Nelson)

This home sits in a private gated community just a 20-minute drive from Mt. Rose Ski Resort and roughly 30 minutes from the Reno-Tahoe International Airport – or to Lake Tahoe itself, according to the listing from Brooke Sullivan with Dickson Realty.

The house was built in 2005 on a 1.13-acre lot and underwent a substantial remodel in 2018. 

Reno home

This Reno home is listed for $1,999,000. (Matthew Nelson)

The home’s great room has vaulted beam ceilings, new wood floors and a fireplace.

The 4,010-square-foot home has three bedrooms, four bathrooms and a three-car garage. In the master suite there is a double-sided fireplace, dual vanities and a large walk-in closet.

Reno home

This Reno home is listed for $1,999,000. (Matthew Nelson)

SIOUX FALLS, SOUTH DAKOTA, REAL ESTATE: WHAT YOU CAN GET FOR $1.4 MILLION

The kitchen has a new backsplash, Alder cabinets, granite countertops and JennAir appliances along with two pantries.

Reno home

This Reno home is listed for $1,999,000. (Matthew Nelson)

There is also a wet bar in the home with custom woodwork, a refrigerator and a copper sink.

Reno home

This Reno home is listed for $1,999,000. (Matthew Nelson)

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Outside, there is a 700-square-foot covered patio in addition to the open patio area, and the property was fully landscaped last year with nearly 100 new tree plantings.

Mansion Global Daily: Holidays Don’t Hamper Historic Luxury Real Estate Run in Manhattan, Kemba Walker Finally Sells Boston-Area Mansion, and More

Mansion Global Daily: Holidays Don’t Hamper Historic Luxury Real Estate Run in Manhattan, Kemba Walker Finally Sells Boston-Area Mansion, and More


Despite a Holiday Slowdown, Deals for Manhattan Luxury Real Estate Were Three Times the 10-Year Average

It was the strongest Thanksgiving week since at least 2006, according to Olshan Realty. Read More

BY THE NUMBERS


TRENDING TODAY


LISTING OF THE DAY


A Neoclassical Chateau on a Private Peninsula Highlights Seattle’s Booming Luxury Market

The waterfront estate was home to three-term Bellevue, Washington, mayor. Read More

THE INSIDERS


The Pandemic Brought a Renewed Interest in True Craftsmanship, Says French Furniture Maker

Martin Pietri, founder of Emblem Paris, talks about the appetite for classic Parisian designs, mixing heritage pieces with modern interiors and expanding to New York. Read More

NEWS BITES

Sydney Suburban Mansion With a Tennis Court Sells for a Record A$12 Million

A six-bedroom mansion in Pymble on the upper north shore of Sydney, sold for A$12 million (US$8.54 million) over the weekend, setting a record for the suburb. The previous record for Pymble was established in June 2020, when a multi-level residence sold for A$9.87 million. The home has five bathrooms, multiple living areas indoors and outside, a pool, a tennis court and landscaped gardens. It last traded in October 2015 for A$7.05 million. Domain

Historic Property in Kent, England, Asks £1.15 Million

Water Farm, a Grade II-listed, 3-acre property near Ashford in Kent, England, is on the market for £1.15 million (US$1.53 million). Originally built circa 1720 on a deer park, the property has a five-bedroom main residence with about 3,000 square feet of living space, a granary cottage with two additional bedrooms and an open-plan kitchen/living area. Outdoors, there are formal gardens, a pond, a tennis court, a paddock and several outbuildings including a garage and a workshop. Country Life

A Four-Bedroom Apartment in New York’s Lincoln Square Is Available for $4.5 Million

A four-bedroom condo apartment in the Manhattan cultural hub of Lincoln Square, is for sale for $4.5 million. Encompassing roughly 2,250 square feet of living space, the home has two-and-a-half bathrooms, a home office/library, a great room, a formal dining room and a chef’s kitchen. Throughout, the apartment features coffered ceilings, handcrafted moldings, marble slab floors, a new home automation system and motorized shades. The building, known as the Coronado, has a fitness center, a sauna room, a billiards room and a children’s playroom. 6sqft

Former Celtics Player Kemba Walker Sells His Boston Mansion

Former Boston Celtics point guard Kemba Walker has sold his Brookline, Massachusetts, mansion four months after signing with the New York Knicks. Mr. Walker, 31, bought the 9,592-square-foot mansion in the Boston area in 2019 for $11.25 million. The sale price was undisclosed, according to filings made public last week. The limestone mansion has six bedrooms, eight bathrooms, a custom double bridal iron staircase, two kitchens, an au pair suite and a paneled library. boston.com

AROUND NEWS CORP

Donald Trump’s Brother Owned These New York City Apartments for Years, but Never Moved In [The Wall Street Journal]

Has the Housing Market Peaked? That May Depend on Where You Live [realtor.com]

The Wild Ride of 2021 Home Prices [Barron’s]

Signs Aussies Are Escaping to Country [news.com.au]