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richardsng_era
14-03-08, 23:10
The New Gem of Marina Bay. Setting New Benchmark for City Living. Comes with Private Lift. Full Facilities with Club House. Exclusive.

Description: 1 Tower of 65-Storey Apartment

Total Units: 221 units

Tenure: 99 years (wef 8 Mar 2007)

Unit Types:
3 Bdrm - 1572~1625 sqft (108 units)
4 Bdrm - 2045~2067 sqft (55 units)
4 Bdrm +1 - 2680~2691 sqft (55 units)
Penthouse - 4715~8181 sqft (3 units)

Expected Date of TOP: 31 Aug 2012

Price: approx. S$3000psf up


Contact:
Richard Sng
ERA Singapore
HP: +65-92993342
Email: [email protected] ([email protected])
Home Page: http://www.homes88.net (http://www.homes88.net/)
My Space: http://richardsng-era.spaces.live.com (http://richardsng-era.spaces.live.com/)

mr funny
20-08-08, 10:30
http://www.todayonline.com/articles/271665.asp

Tuesday, August 19, 2008

Marina Bay Suites may be delayed

Maintaining target price of $3000 psf, project may only launch in 2012


IF THE market for luxury homes fails to pick up, the launch of Marina Bay Suites may be held off until 2012 when the project is completed, Mr Wilson Kwong, the general manager of Raffles Quay Asset Management said in an interview with Lianhe Zaobao yesterday.

Marina Bay Suites was scheduled for launch during Chinese New Year this year but the date has since been put off indefinitely amid softening property market sentiment in the wake of the United States sub-prime mortgage crisis that has sent markets plunging worldwide.

Marina Bay Suites, located near One Raffles Quay, will feature 218 three- and four-bedroom apartments, and three penthouse units.

The project, which is part of the Marina Bay Financial Centre, is a joint venture between three developers — Cheung Kong/Hutchison Whampoa, Hongkong Land and Keppel Land.

Raffles Quay Asset Management oversees the asset management aspects of the project.

Mr Kwong said it would not be lowering prices in order to boost sales. Maintaining its target price of $3,000 or more per square foot for Marina Bay Suites, it will wait for the most opportune time to launch the project.

At present, it is keeping all options open, and these include launching the development after it is completed.

Mr Nicholas Mak, consultancy and research director of property firm Knight Frank, said: “It is a wise and prudent move. The market is going through a period of uncertainty now, but the chances of the market picking up in the next four years is quite high.”

Mr Kwong said the three joint developers have a robust capital base that will allow them to hold back the launch until market sentiment improves.

“They certainly have the capacity to wait it out and the four years gives them the option of working out the best possible strategy,” Mr Mak said.

Marina Bay Suites’ sister project Marina Bay Residences attracted strong interest when it was launched towards the end of 2006 in the midst of the property market boom, with all units sold within three days.

Although some property analysts expect the luxury segment of the market to fall by as much as 40 per cent from its highs last year, Raffles Quay Asset Management points out that there are only three luxury developments — Marina Bay Suites, Marina Bay Residences and The Sail @ Marina Bay — in the area.

So, compared to Districts 9, 10 and 11, prices will remain relatively firm in the foreseeable future.

Units in the Marina Bay Residences and The Sail achieved prices exceeding $3,000 psf at the peak of the market but have since retreated to around $2,000 psf in recent months.

mr funny
23-03-09, 12:20
http://www.businesstimes.com.sg/sub/companies/story/0,4574,324737-1237751940,00.html?

Published March 21, 2009

KepLand defers construction of Marina Bay Suites

Building of Madison Residences also delayed by current market conditions

By KALPANA RASHIWALA


KEPPEL Land is deferring construction of the highly touted Marina Bay Suites (in which it has one-third stake) as well as Madison Residences in Bukit Timah, citing 'current market conditions'. KepLand is developing the 221-unit Marina Bay Suites jointly with Cheung Kong Holdings/Hutchison Whampoa and Hongkong Land.

http://www.businesstimes.com.sg/mnt/media/image/launched/2009-03-21/BT_IMAGES_KRKEP21.jpg
DELAYED
Worsening sentiment in the high-end residential sector

In a filing with the Singapore Exchange yesterday, KepLand announced construction deferral of the 56-unit Madison Residences on the former Naga Court site in Bukit Timah.

The group had earlier managed to sell just one unit in the project, at about $1,740 per square foot, in the second half of last year. However, a KepLand spokeswoman told BT yesterday that the sale of that unit has been cancelled by mutual agreement. 'We are unable to provide details due to confidentiality,' she added. When asked, she also revealed that 'a decision has been made to defer the commencement of the main construction of Marina Bay Suites'. However, construction of another of the group's residential projects in Singapore, The Promont, located in Cairnhill, will continue.

It has been one postponement after another for Marina Bay Suites because of deteriorating sentiment in the high-end residential sector. The tripartite partnership developing the condo had initially hoped to launch the project around end-January last year, but this was delayed to later the same quarter, and even then, that did not happen. The project has not been launched to date.

KepLand's spokeswoman did not say how long the construction deferments for Marina Bay Suites and Madison Residences will be.

In its release to SGX, KepLand said the construction deferment for Madison Residences is not expected to have any significant impact on the consolidated earnings per share and net tangible asset per share of the company for the current financial year ending Dec 31, 2009.

Separately, construction group KSH Holdings also said in a statutory filing with SGX yesterday that it has agreed to the request of Keppel Land Realty to defer the construction of Madison Residences. The delay is not expected to have any material effect on KSH for the financial year ending March 31, 2009. KSH announced in April last year that it had won a $53 million contract from Keppel Land Realty relating to the construction of Madison Residences.

In January, Keppel Land's group chief executive Kevin Wong said the group will conduct a review to see if it can delay building some of its projects. 'We are reviewing our operation costs as well as the project costs of all our development projects to trim fat and conserve cash, so that we can invest in any attractive opportunities that come along. 'This cost review exercise could include developing projects in phases to meet demand and even temporarily suspending the entire project if it does not add value to the company under current market conditions,' Mr Wong said then. Projects that are yet to be launched for sale are those that are most likely to be delayed both in Singapore and abroad, he added.

KepLand's earnings for the year ended Dec 31, 2008 fell 70.8 per cent to $227.7 million, from $779.7 million in FY 2007.

mr funny
23-03-09, 13:22
http://www.straitstimes.com/Money/Story/STIStory_352791.html

March 21, 2009 Saturday

KepLand to defer luxury project

Madison joins others in weakening market that have been put on hold

By Jessica Cheam

http://www.straitstimes.com/STI/STIMEDIA/image/20090320/ST_IMAGES_PL1AA.jpg
Construction of the 56-unit luxury development in Bukit Timah was originally scheduled to start last June and a preview had already been held. -- PHOTO: MADISON RESIDENCES

PROPERTY developer Keppel Land (KepLand) yesterday announced that it will defer the construction of its 56-unit development, Madison Residences, because of weak market conditions.

The project has not been launched.

Luxury condos such as the Madison have fallen out of favour in recent times as buyers turn to smaller, more affordable apartments.

Some earlier reports said 'some units' had been sold at the preview of the Bukit Timah condo for a median price of $1,801 per sq ft (psf).

However, KepLand said yesterday only one sale had been made, and that had been cancelled 'by mutual agreement'. It declined to give details.

Analysts that The Straits Times spoke to said it was not uncommon for developers to offer to buy back units sold at the preview of a project if there were changes to its development.

A search on the Urban Redevelopment Authority's website showed a single caveat lodged for a 1,776 sq ft unit at $3.1 million - or $1,745 psf - in September last year.

'Given current market conditions, there is no urgency to proceed with the construction of Madison Residences. The launch or when the construction will resume for the project will depend on market conditions,' KepLand told The Straits Times.

Construction was meant to start last June and take 21/2 years. Construction and property group KSH Holdings had won a $53 million contract from Keppel Land Realty to build Madison, it was reported.

The project consists of luxury three- and four-bedroom apartments that range in size from 1,460 sq ft to 4,000 sq ft.

Madison is the latest in a string of projects in the local property market that have been deferred in the wake of the global economic crisis.

Luxury units seem to have been hit harder, noted analysts, as buyers now prefer mass-market, lower-priced condos.

KepLand said in January that it would consider delaying the construction of some of its projects to save costs.

Some measures unveiled in January by the Government in the Budget also gave developers greater flexibility in terms of selling their residential units.

The measures include a one-year extension of the completion period for private residential projects. Also extended was the period in which developers with qualifying certificates need to dispose of all residential units, from two years to four. They can rent out unsold units during this time.

CB Richard Ellis executive director Joseph Tan said there had been examples in the past of developers offering to buy back units if there were changes to the development plans. He noted that it was also not unusual for a project to be deferred even after the preview.

In its statement to the Singapore Exchange, KepLand said the deferment is not expected to have any significant impact on the company's earnings per share for the current financial year.

[email protected]

Reporter
07-10-09, 23:14
http://sg.yimg.com/i/sg/providers/cnalogo4.gif
Restrictions on sand exports by Vietnam will not hurt supply in Singapore
Tan Hui Leng & Imelda Saad
Channel NewsAsia
Wednesday, 7 October 2009, 2243 hrs

http://www.channelnewsasia.com/imagegallery/store/phpldBCBo.jpg

Singapore's Building and Construction Authority (BCA) said Wednesday the recent restrictions on sand exports by Vietnam have not affected the supply of construction sand to Singapore.

It was responding to MediaCorp New's enquiries following reports that Vietnam has suspended exports of sand to the island-state due to concerns that the current pace of extraction will damage the Mekong Delta.

BCA said Singapore's import of construction sand is a commercial activity, and added that the industry has been importing construction sand from various countries in the region.

Singapore has also started using recycled materials as an alternative to construction sand.

BCA said in October last year that two companies - Holcim and ecoWise - have set up the Geocycle Singapore plant to process copper slag for concreting and other uses.

Separately, the construction industry here said it has not yet felt the impact of any immediate sand shortage.

Property analysts said although developers are likely to pass on any increase in construction cost to the consumers, whether contractors will jack up prices is another question.

Cushman and Wakefield Singapore's managing director Donald Han noted that construction costs have come down by some 20 to 25% since the peak in mid-2008, and is still in a bit of lull.

"In 2007, the market was hit quite substantially as there were big ticket tenders out on the market place like the Integrated Resorts," said Han.

"Now, there are hardly any billion-dollar projects, even the construction of the Sports Hub has been deferred; residential projects are not big ticket items and will not create competition for the sand."

The Indonesian ban on sand two years ago saw the industry facing a sand supply crunch for at least two to three months.

Then, concrete prices went up from S$70 to S$200 per cubic metre.
Sand prices also went up from S$20 to between S$60 and S$70 per cubic metre as alternative distant sources were sought.
MBS (Marina Bay Sands) may not need so much sand now but MBS (Marina Bay Suites) will definitely need a lot of sand in the coming months.

Will their construction cost go up?

Reporter
29-10-09, 00:46
http://www.zaobao.com/images1/zblogo.gif
55%楼面已租出 滨海湾联通广场明年底陆续开业
吴慧敏
联合早报
星期三, 28-10-2009

滨海湾金融中心(MBFC)内的购物商场——滨海湾联通广场(Marina Bay Link Mall)将分阶段自明年底开始营业。

负责管理这座霸型综合项目的莱佛士码头资产管理(Raffles Quay Asset Management)零售市场部主管唐碧婷说,整座拥有17万6000平方英尺零售楼面的购物商场,虽然还要等上至少一年才能开业,但是至今已经租出了55%的楼面。

第一阶段拥有9万3800平方英尺的零售面积,分布在MBFC第一大楼和第二大楼的地面层、地面广场和地下层,预计在明年第二季完工,但于第四季开始营业。
其中45%的商店已经租了出去,一些已经签下租约的零售商包括:著名酒吧集团哈利控股(Harry’s Holdings)、Mirchi印度餐厅、乐天客栈(Paradise Inn)、Cedele全天餐厅、屈臣氏、百汇珊顿医药与牙科诊所等。

第二阶段则拥有8万2200平方英尺的零售楼面,分布在MBFC第三大楼的三层楼面,预计在2012年第二季完工。一楼和二楼将设有一些休闲时装店和餐厅,三楼则将设有星展银行大厅和星展银行礼堂。

http://property.zaobao.com/images6/planning091028.jpg
滨海湾联通广场将在明年底开始营业,至今已经租出了55%的楼面。右为邝永铨,左为唐碧婷。(梁麒麟摄)

莱佛士码头资产管理总裁邝永铨昨天在记者会上说,滨海湾联通广场将服务新、旧市区的上班族和公寓住客,并且协助加强滨海湾寓“工作·生活·娱乐”于一体的特色。

“中央商业区向来都不是一星期七天都开门营业的购物地点,但滨海湾一旦有居民、世界级景点,以及常年不断的活动落户,零售商和餐饮业者应该可以看到这个市场的潜力。”

唐碧婷透露,单单是MBFC和隔邻的莱佛士码头一号,就拥有430万平方英尺的办公楼面,每天吸引超过5万名上班族前来办公。这还没有包括大约1万2000名在新市区内落户的共管公寓住户。

她说,滨海湾联通广场不会专走高档奢侈品路线,而会专注于提供附近上班族和居民的日常所需。单单餐厅就尽量国际化,除了中餐厅,还会有印度餐厅、泰国餐厅、日本餐厅、美式酒吧等。

“路易威登和香奈儿就留给滨海湾金沙(Marina Bay Sands)吧!我们与滨海湾金沙的关系应该是互惠互利的,它们将引进旅客和会展参观者,而我们却能为他们带来日常的上班族群和居民。”

滨海湾联通广场将建有地下冷气行人走道,由莱佛士坊地铁站,穿越滨海舫(The Sail)共管公寓、莱佛士码头一号、滨海林荫道一号,一直连接到滨海湾金沙,以及未来的滨海市区线地铁站。

这座商场还有一个焦点,就是一家位于第一大楼顶层的摩天餐厅。这家餐厅将是新加坡少有可以坐在33层高楼,一边临风享受美食、一边欣赏整个滨海湾景观的餐厅,它有1000多平方英尺的楼面在户外阳台,6200平方英尺的面积在室内。

耗资40亿元建造的MBFC,第一期工程包括高33层的第一大楼、50层的第二大楼、55层的滨海湾居(Marina Bay Residences)共管公寓,以及9万3800平方英尺的零售楼面。目前,第一大楼的办公楼面已经全部租出、第二大楼租出了47%的办公楼面,滨海湾居的428个共管公寓单位已在2006年推出并卖个满堂红。

第二期工程则包括高46层的第三大楼、66层的滨海湾轩(Marina Bay Suites)共管公寓,以及8万2200平方英尺的零售楼面。第三大楼至今租出55%楼面,拥有221个共管公寓单位的滨海湾轩还未推出。

gfoo
31-10-09, 18:30
insider news

2300-2500 for low flrs, 3.5-4k for highest floors/PH w IR view.

all are 3rms and above, no studios or 2 bedders

august
31-10-09, 19:54
insider news

2300-2500 for low flrs, 3.5-4k for highest floors/PH w IR view.

all are 3rms and above, no studios or 2 bedders

btw the "1st" floor starts at which level?

gfoo
31-10-09, 20:24
7.... i think

focus
31-10-09, 22:32
so..if $2.3k is the min for the low floor ..
then the sail and marina bay residence will huat big time loh..
the surrounding high floors definitely will not be $2.3k coz they got better views than marina bay suites..

andy
31-10-09, 22:46
so..if $2.3k is the min for the low floor ..
then the sail and marina bay residence will huat big time loh..
the surrounding high floors definitely will not be $2.3k coz they got better views than marina bay suites..

When are they launching MBS? Will they sell the Hong Kong first?

gfoo
31-10-09, 22:56
so..if $2.3k is the min for the low floor ..
then the sail and marina bay residence will huat big time loh..
the surrounding high floors definitely will not be $2.3k coz they got better views than marina bay suites..

not to mention most of them are above 1200sq ft so quite largish.

and if the $2.3k is one-shenton facing then huat liao

dtrax
02-11-09, 18:16
Launching mid-nov.. looks like no change to the big units layout. Heard prices from $2k psf n up

focus
03-11-09, 01:39
Got DPS? Means pay how many % down?
I cannot loan from bank.. no income..

august
03-11-09, 12:43
Got DPS? Means pay how many % down?
I cannot loan from bank.. no income..

doubt there is any DPS or IAS.

you retiree?

dtrax
03-11-09, 14:59
NPS - 20% $600k for cheapest unit?

focus
03-11-09, 16:26
doubt there is any DPS or IAS.

you retiree?

Yup. Bank don't recognise dividends or bonds payments as income since it is not reported in income tax.

So, now I have to pay 40% down to get a loan from the bank.
If DPS, means I only need to worry about loan later on ? :)
But got enough to pay 40% down no problem..

august
03-11-09, 22:07
Yup. Bank don't recognise dividends or bonds payments as income since it is not reported in income tax.

So, now I have to pay 40% down to get a loan from the bank.
If DPS, means I only need to worry about loan later on ? :)
But got enough to pay 40% down no problem..

Oic, means your tenure also shorter than usual right? since age limit is 70 or 75.. some banks only up to 65.

focus
03-11-09, 22:56
Oic, means your tenure also shorter than usual right? since age limit is 70 or 75.. some banks only up to 65.

No, it is because I have no taxable income (no notice of assessment) as my dividends are all taxed at source(the company pay the tax before passing the dividends to investors).

august
03-11-09, 23:22
No, it is because I have no taxable income (no notice of assessment) as my dividends are all taxed at source(the company pay the tax before passing the dividends to investors).

i understand, no income is not an issue as u can still secure loans open to the average salary earner hehe :o

focus
03-11-09, 23:43
i understand, no income is not an issue as u can still secure loans open to the average salary earner hehe :o

But lose out to salary earner or rather those who got income tax (like property owners with rental). They can just put 20% down and loan the rest. More flexibility and can flip more units?

I got too much constraints ... damn pissed with the system. Why no income ..means I not credit worthy.. :(

august
03-11-09, 23:51
But lose out to salary earner or rather those who got income tax (like property owners with rental). They can just put 20% down and loan the rest. More flexibility and can flip more units?

I got too much constraints ... damn pissed with the system. Why no income ..means I not credit worthy.. :(


how do u lose out? u still can loan up to 80% like anyone else if u want

proud owner
03-11-09, 23:54
But lose out to salary earner or rather those who got income tax (like property owners with rental). They can just put 20% down and loan the rest. More flexibility and can flip more units?

I got too much constraints ... damn pissed with the system. Why no income ..means I not credit worthy.. :(


put your money in previleged banking .. sure can bargain one ,...

i move all my cash into one bank ...

if you have 150-250k cash ...go be Citigold client ... i am sure they can do something ..

local banks more kiasi .... i basically closed my DBS acc ...the WORST bank ever .. in terms of service, flexibility.. they still govt thinking ..no innovative at all ..

i used to have so much cash in DBS ..and when i was travelling, i missed my credit card payment..

they refused to waive it .. despite knowing how much i have in their bank ..
i threatened to cancel my card .. and they said " ok please cut the card and mail it back to us' #[email protected]^&&^@%$^*$(&%($*

i terminated the card and NEVER have any DBS card EVER again ..
then i moved all my money out ..

then they start calling me .. TOO BAD !!!

august
04-11-09, 00:01
put your money in previleged banking .. sure can bargain one ,...

i move all my cash into one bank ...

if you have 150-250k cash ...go be Citigold client ... i am sure they can do something ..

local banks more kiasi .... i basically closed my DBS acc ...the WORST bank ever .. in terms of service, flexibility.. they still govt thinking ..no innovative at all ..



the latest is that local banks have awaken to this fact and hv become quite "aggressive" in a bid to get mkt share.. ocbc is the least competitive now imho ~

proud owner
04-11-09, 00:04
the latest is that local banks have awaken to this fact and hv become quite "aggressive" in a bid to get mkt share.. ocbc is the least competitive now imho ~

one thing i notice about ocbc ..

if you buy a property and financed thru ocbc ..
and if someone come buy your property .. and also going thru ocbc financing .. chances are the buyer is NOT going to get a good valuation for your property ..

anyone have same experience ?
or are all banks the same ?

focus
04-11-09, 01:21
put your money in previleged banking .. sure can bargain one ,...

i move all my cash into one bank ...

if you have 150-250k cash ...go be Citigold client ... i am sure they can do something ..

local banks more kiasi .... i basically closed my DBS acc ...the WORST bank ever .. in terms of service, flexibility.. they still govt thinking ..no innovative at all ..

i used to have so much cash in DBS ..and when i was travelling, i missed my credit card payment..

they refused to waive it .. despite knowing how much i have in their bank ..
i threatened to cancel my card .. and they said " ok please cut the card and mail it back to us' #[email protected]^&&^@%$^*$(&%($*

i terminated the card and NEVER have any DBS card EVER again ..
then i moved all my money out ..

then they start calling me .. TOO BAD !!!
Oh, i never try citi or hsbc .. I basically gave up on retail banks after I asked UOB and DBS and they all gave me 40% downpayment before can consider loaning 60% LTV.

Uh... I show them my portfolio value which is in the region of X million (more than enough to pay for the house in full). I told them if want me to be previlege customer ..easily done ..but still cannot. I was talking to the branch loan specialist in both banks.

I want to pay 20% or 30% coz I want to buy a $3mil house , and I dont want to fork out $1.2mil (40%). That money can be better used in generating more money for me in my portfolio.

So, now I just use my pte bank loan facility .. that one also needs to pay 40% .. and can only buy completed properties. That's why i wanted to seek out banks willing to finance 70%. less money out of pocket is better :)

BensonLim
04-11-09, 02:13
not to mention most of them are above 1200sq ft so quite largish.

and if the $2.3k is one-shenton facing then huat liao

Yah I agree with u. If low floor 2300psf, MBR sure appreciate.

Anyway, all the stacks at MBS have bayview and IR view from the living and master bedroom. the back is facing one shenton. but Stack 4 and 3 will have the best unblocked view. Stack 1 and 2 might be blocked by the Sail.

I have the project details of this upcoming launch. Feel free to call or pm me for more info. I can be reached at 92768660.

Also have many units at Marina Bay Residences, particularly stack 8 and 2. The best 2 bedrooms stack.

dtrax
04-11-09, 03:10
Oh, i never try citi or hsbc .. I basically gave up on retail banks after I asked UOB and DBS and they all gave me 40% downpayment before can consider loaning 60% LTV.

Uh... I show them my portfolio value which is in the region of X million (more than enough to pay for the house in full). I told them if want me to be previlege customer ..easily done ..but still cannot. I was talking to the branch loan specialist in both banks.

I want to pay 20% or 30% coz I want to buy a $3mil house , and I dont want to fork out $1.2mil (40%). That money can be better used in generating more money for me in my portfolio.

So, now I just use my pte bank loan facility .. that one also needs to pay 40% .. and can only buy completed properties. That's why i wanted to seek out banks willing to finance 70%. less money out of pocket is better :)

Did you clarify with them the exact reason for the non-approval, i.e age. Although the portfolio can be proven to be paid in full but considering your retiree status and the sheer amount of the loan, the age issue can be the problem. If age is indeed the main issue, you can also considered other alternative like joint ownership with your children which I assume is way below 60/65 age and should not be a problem borrowing for 10-20yrs

proud owner
04-11-09, 03:14
Did you clarify with them the exact reason for the non-approval, i.e age. Although the portfolio can be proven to be paid in full but considering your retiree status and the sheer amount of the loan, the age issue can be the problem. If age is indeed the main issue, you can also considered other alternative like joint ownership with your children which I assume is way below 60/65 age and should not be a problem borrowing for 10-20yrs

that could work too

just like in US .. govt giving 8k credit for First time home buyers.. guess what ?

they found alot of first time home buyers ..as young as 8 yrs old ..
the things people will do to gain 8k

Squall8888
04-11-09, 08:30
You sure all the stacks at MBS have bayview? Can see the new waterfront doesn't mean bay view. Or you mean see a small tree also consider bay view? No offence but I think anyone can try standing along the road where the site is and see what kind of view you are getting. I don't think there is much view due to the small angle closed up by Sail and MBFC tower 1. Seaview maybe but bayview is crap. IMO, MBS view sucks. MBR the best. Sail is close.




Yah I agree with u. If low floor 2300psf, MBR sure appreciate.

Anyway, all the stacks at MBS have bayview and IR view from the living and master bedroom. the back is facing one shenton. but Stack 4 and 3 will have the best unblocked view. Stack 1 and 2 might be blocked by the Sail.

I have the project details of this upcoming launch. Feel free to call or pm me for more info. I can be reached at 92768660.

Also have many units at Marina Bay Residences, particularly stack 8 and 2. The best 2 bedrooms stack.

focus
04-11-09, 12:59
Did you clarify with them the exact reason for the non-approval, i.e age. Although the portfolio can be proven to be paid in full but considering your retiree status and the sheer amount of the loan, the age issue can be the problem. If age is indeed the main issue, you can also considered other alternative like joint ownership with your children which I assume is way below 60/65 age and should not be a problem borrowing for 10-20yrs

Yes, the no income part was the killer. They say they cna give 80% , 30yrs if got income. But no income, so only can give 60% for 30yrs.

Anyway, small matter. just that i am exploring ways to loosen them up abit.. no point putting so much money into a house that you are staying and not generating any money...

Reporter
05-11-09, 13:03
http://www.straitstimes.com/STI/STIMEDIA/common/mast_home.gif
Phase 1 of Marina Bay project 72% leased
Gabriel Chen
The Straits Times
Thursday, 5 November 2009

http://www.straitstimes.com/STI/STIMEDIA/image/20091104/marina.jpg
Phase 1 of the new Marina Bay Financial Centre (MBFC) mega office development is now 72% leased. -- Photo: Samuel He, ST

Phase 1 of the new Marina Bay Financial Centre (MBFC) mega office development is now 72% leased, thanks to mining company BHP Billiton taking a further four floors.

The company has taken the additional floor space at Tower Two which, together with Tower One, comprises the first phase of the ambitious project intended as a seamless extension of the Central Business District.

BHP committed to 142,000 sqft at Tower Two a year ago and is now slated to have a total leased floor area for 10 years from 2011 of 231,000 sqft on levels 40 to 50 of Tower Two.

Phase 2 of MBFC will be complete when Tower Three has been opened. But already, about 64% of total office space in Phases 1 and 2 has been leased.

The three office towers have almost 3 million sqft of grade A office space. MBFC will also have two residential towers of 649 luxury apartments, and 176,000 sqft of retail space.

Mr Wilson Kwong, chief executive of Raffles Quay Asset Management, which manages the centre, said BHP’s decision to take up additional space is testament to the MBFC’s vision of being Asia’s best business address.

BHP’s commitment is a healthy boost of confidence for the Asian office market, which some analysts have tipped to improve as rental decline slows further.

According to a new report by property consultancy firm CB Richard Ellis, the Asian office market downturn stabilised in the third quarter, as the improvement in Asian employment markets clearly indicated that the office market was close to bottoming out.

It also said that activity surrounding the planning of new premises in Singapore rose, as did occupier requests for relocation alternatives.

The firm noted that while Singaporean office rents fell for the fourth consecutive quarter, clear evidence has emerged that the pace of rental decline has eased following an improvement in business confidence.

The MBFC is being developed by a joint venture comprising property developers Cheung Kong Holdings, Hongkong Land and Keppel Land.

Reporter
12-11-09, 13:03
Anyone knows the PSF for MBS? Hearsay is 2-2.5k.

Anyway, 3 bedders fully booked. I think is stack 3. Smallest quantum I guess. Will developer up price? :):)

Sail/MBR owners just love this, don't they? :cheers::cheers:
A repeat of MBR in 2007.
Why 3 bedroom fully booked?
Why not ...?

jlrx
12-11-09, 15:20
Why 3 bedroom fully booked?
Why not ...?

We had the "Centro Effect", the "Silversea Effect", the "Optima Effect" ...

Are we now going to witness The "Marina Bay Suites Effect"?

Will the "Marina Bay Suites Effect" send MBR and Sail into uncharted territories?

Reporter
13-11-09, 11:07
http://graphics8.nytimes.com/images/section/realestate/greathomes/LRENytimesLogo.gif
Slowly, Foreign Buyers Drift Back Into Singapore
Sonia Kolesinkov-Jessop
The New York Times
Singapore
Thursday, 5 November 2009

After 5 consecutive quarters of decline in Singapore’s property market, the luxury segment is starting to improve, partly helped by the slow reappearance of foreign buyers.

According to statistics from the island-state’s Urban Redevelopment Authority, the overall residential property market has seen its shortest downturn in the past 18 years, with only four quarters of price declines before the official private home price index posted a spectacular 15.8% quarter-on-quarter jump in the third quarter this year.

Singapore’s government, startled by the sharp uptick, worried that a property bubble was forming and, in September, they discontinued a system that allowed buyers to defer the bulk of payment on apartments until the properties were complete. It also announced that next year it would resume land sales for development.

The sales rebound primarily has been driven by mass-market and mid-tier properties, but a few recent transactions indicate the high-end luxury sector also has started to pick up.

“With the financial crisis, developers saw potential with affordability and launched more projects at that level, with smaller-size flats to keep prices low. As a result, the mass market has really been driving this market recovery in the last few quarters,” said Chua Yang Liang, head of research for Southeast Asia at the Jones Lang LaSalle real estate agency.

“It’s only just recently with the improvements in regional economies that we’re seeing more developers releasing projects for the high end of the market.”

According to an analysis by CB Richard Ellis real estate, the number of apartments priced at more than S$4 million, or US$2.86 million, that changed hands totaled 210 in the third quarter of 2009, 87 in the second quarter and just 15 in the first quarter.

This compares with 280 in all of 2008 and 1,740 in 2007, at the peak of the market. A sales price record was achieved recently by SC Global Developments, which sold 6 homes at its 41-unit Seven Palms Sentosa Cove project for an average price of S$11 million, ranging from S$3,100 to S$3,400 psf for the 3- or 4-bedroom units.

Previously, the highest median price for a condominium on Sentosa was S$2,734 psf in late 2007.

The upscale Seven Palms project, the only beachfront residence of its kind in Singapore, is being built on Sentosa island, where a resort casino and Universal Studios theme park is scheduled to open early next year. The Seven Palms residences are being sold with 99-year leaseholds on the land, and are expected to be completed in December 2013.

Singaporeans are said to have bought 2 of the units, with the other 4 going to foreigners who are permanent residents of the city-state.
The Alba, another new upmarket development but in the more suburban central district, has sold 12 of the 18 available units, with prices averaging S$2,100 to S$2,500 psf for freehold units of 1,852 to 2,250 sqft, or 172 to 209 sqm.

Luxury projects delayed in the wake of the global downturn include the Marina Bay Suites, near the Marina Bay Sands, the other casino resort due to open next year and the 228-unit Quayside Isle Collection, also on Sentosa.

“Currently, we are seeing an increasing number of enquiries and interest in the luxury market as compared to three months ago,” said Tan Bee Kim, director of Wheelock Properties Singapore. The group is planning early next year to introduce Orchard View, a project in which each of the 30 4-bedroom condominiums will occupy an entire floor. Ms. Tan said the company has been receiving enquiries from locals and foreigners alike about the development.

Ong Choon Fah, executive director of the property consultant DTZ Debenham Tie Leung, believes developers are not yet in a hurry to release new high-end condominiums — but she expects that will change next year when the two casinos under construction, referred to locally as IR, or Integrated Resorts, will open. “This should help boost property prices, especially in the high end,” said Ms. Ong, estimating that luxury prices could rise as much as 10%.

sleek
21-11-09, 14:03
Think this post belongs here. :D

http://www.businesstimes.com.sg/mnt/static/image/images/bt_wkend_masthead.jpg
Preview of Marina Bay Suites next week
Kalpana Rashiwala
The Business Times Weekend
Saturday, 21 November 2009

http://newlaunches.files.wordpress.com/2008/01/marina-bay-suites.jpg
Marina Bay Suites

After an almost two-year wait, Marina Bay Suites will finally be previewed next Wednesday to VVIPs and invited buyers, BT understands.

Pricing for the preview has not been finalised, but some market watchers suggest it could be a shade below $2,500 psf on average. Others tip the average price at about $2,300 psf. No interest absorption scheme will be offered.

Early last year - when the 99-year leasehold project was expected to be released - the average price was tipped at about $2,800 psf.

The 66-storey condo block has 221 units, comprising 218 3- or 4-room apartments and 3 penthouses.

Three-bedders range from about 1,570 to 1,620 sqft; 4-bedders will be 2,050 to almost 2,700 sqft. The penthouses include 2 duplex units of about 4,700 and 8,100 sqft and a single-level unit of around 5,600 sqft.

Marina Bay Suites was due to be released early last year, but steadily worsening market conditions that culminated in the global financial slump meant the project could not be released in 2008. In March this year, Keppel Land - which is part of the consortium developing the condo - confirmed the project's construction was deferred.

The other members of the consortium are Hongkong Land and Cheung Kong Holdings / Hutchison Whampoa. Marina Bay Suites will be the second residential project on the Business and Financial Centre site, which the consortium bagged in a Singapore Government tender in 2005.

The first residential project - the 428-unit Marina Bay Residences (MBR) - sold out in three days in December 2006. The 55-storey development achieved an average price in the region of $1,850 psf, according to a statement by the developer at the time.

Many buyers flipped their units - in some cases within days of their purchase - for handsome gains as high as $1 million or even more for 4-bedroom units that face Marina Bay.

MBR has one and two-bedroom units in addition to 3- and 4-bedders. The project, along with the neighbouring completed development, The Sail @ Marina Bay, continues to make news in the secondary market. Sources say a 900 sqft bay-front unit on the 50th floor at The Sail sold recently for about $3,000 psf, while a 30-odd storey 4-bedder at MBR facing the bay fetched just above $2,700 psf.

Marina Bay Suites' preview will be held on the mezzanine level of One Raffles Quay.

Reporter
21-11-09, 15:53
Think this post belongs here. :D
Thanks.

My eyes played tricks on me? I thought I posted on the right thread. But ...

andy
21-11-09, 15:57
Wow big quantum. All above 3m. Targetting foreigners?

Reporter
21-11-09, 16:01
So difficult for BT to check facts?
Original 08 launch price quoted by Cheung Kong die die will be 3k not 2.8k.
Think u do simple caveat check for MBR that average price was not 1850.
Since when does lowest floor price become average price?
Also forgetting the 6 penthouses sold for 90 million to Mr Ho....
Can tell some journalist very lazy one...if I am cheung kong / keppel I not happy...
Aiyah! Maybe it's just a honest mistake?

Mr S. Ho bought 6 penthouses? For what? For the whales?

jlrx
21-11-09, 20:39
Pricing for the preview has not been finalised, but some market watchers suggest it could be a shade below $2,500 psf on average. Others tip the average price at about $2,300 psf. No interest absorption scheme will be offered.

Only $2,300 psf to $2,500 psf?

Isn't that very cheapskate compared to Hong Kong's $13,000 psf at 39 Conduit Road?

Such low pricing ... will it cause foreign investors to lose interest?

Looks like Singapore is still closer to Third World pricing than a respectable international city.

Maybe we should advertise that Marina Bay Suites is near KLCC.

325 km is quite near.

http://www.overseaspropertymall.com/wp-content/uploads/2007/08/onekl.JPG

Average price per sq foot RM 2000 (S$820 psf)

Property_Owner
21-11-09, 21:40
Only $2,300 psf to $2,500 psf?

Isn't that very cheapskate compared to Hong Kong's $13,000 psf at 39 Conduit Road?

Such low pricing ... will it cause foreign investors to lose interest?



Cheap lah, not cheapskate. I had throw in a few cheques for the preview next week. :D :D :D

august
21-11-09, 21:58
Cheap lah, not cheapskate. I had throw in a few cheques for the preview next week. :D :D :D

wah you really power! :cool:

btw those are probably lowest floors... i think mid floor onwards will be closer to 3k psf, if not will still be a good price!

jlrx
21-11-09, 22:00
Cheap lah, not cheapskate. I had throw in a few cheques for the preview next week. :D :D :D

Wow ... you again !!!

Last time you bought 5 units of The Sail, now again "throw in a few cheques" !!! :scared-4:

Like Reporter said ... this seems like a deja vu of December 2006 ...

Hopefully ... it plays out again exactly like last round.

My godfather's ang pow for me will depend very much on what happens at Marina Bay ...

gfoo
22-11-09, 14:44
Cheap lah, not cheapskate. I had throw in a few cheques for the preview next week. :D :D :D

chialat, guess i stand zero chance with my sole measly one. lol. mebbe i shd set my sights on e downstairs retail space instead, and live my childhood dream to open a mamar shop

thomastansb
22-11-09, 21:47
When they start selling the highest floor at > 3.5k psf, that is when you offload your 2.3k psf for 2.8k psf. And 3.5k psf will flip until 4k psf.

In the most optimistic view.





wah you really power! :cool:

btw those are probably lowest floors... i think mid floor onwards will be closer to 3k psf, if not will still be a good price!

Property_Owner
23-11-09, 14:02
This time round buying low floor.

jlrx
23-11-09, 17:32
This time round buying low floor.

Why last time high floor, this time low floor?

Property_Owner
24-11-09, 08:11
When they start selling the highest floor at > 3.5k psf, that is when you offload your 2.3k psf for 2.8k psf. And 3.5k psf will flip until 4k psf.


This is e answer

hans
25-11-09, 00:04
If you are damn lucky, you maybe able to sell to some foreigner at 3.5k psf


This is e answer

gfoo
25-11-09, 10:02
queue very short leh, def no overnigjt queuing. this morn about 20ish agents in queue nia

Property_Owner
25-11-09, 10:24
queue very short leh, def no overnigjt queuing. this morn about 20ish agents in queue nia


preview tomorrow right? never mind, i get more agents to queue up then

Squall8888
25-11-09, 10:41
Thought you submitted cheque? Preview at 12pm today. Which is 20 minutes away.

Anyway, they only launch about 80+ units right? 4 x 20 floor = 80 units. 20 agents = 20 units. And also, maybe some agent got > 1 cheque.




preview tomorrow right? never mind, i get more agents to queue up then

gfoo
25-11-09, 11:04
preview today. last nite went LPS tahpow stingray, queue was empty

Property_Owner
25-11-09, 11:17
Thought you submitted cheque? Preview at 12pm today. Which is 20 minutes away.

Anyway, they only launch about 80+ units right? 4 x 20 floor = 80 units. 20 agents = 20 units. And also, maybe some agent got > 1 cheque.


Ya, today is 25th. Thought 25th is Thursday

focus
25-11-09, 11:39
Preview is only for those invited or is it public can also go in to look (like me?)

august
25-11-09, 11:46
Preview is only for those invited or is it public can also go in to look (like me?)
u want go? feel like going down kay poh look see haha :D

focus
25-11-09, 12:03
u want go? feel like going down kay poh look see haha :D

Meeting my friend for lunch at 2 , so maybe not..
anyway.. cannot afford to buy .. not at that level yet.. dont wear that big hat..

Oh ya.. it's for invited buyers and VVIP as stated in the biz times article.
http://74.125.153.132/search?q=cache:q69Sv82oATMJ:www.businesstimes.com.sg/mnt/html/btpre/registration/redirect.jsp%3Fdlink%3D/sub/premiumstory/0,4574,360536,00.html%3F+marina+bay+suite+preview&cd=1&hl=en&ct=clnk&gl=sg&client=firefox-a

moneyspinner
25-11-09, 14:53
Saw this in another website:

The Sailowner

It's released up to 45F due to overwhelming demand. Maybe the pricing really attractive. Starting from 1850 (7th floor). Stack 3 as expected, is fully sold out with one low floor unit left. Stack 1 and 4 are 75% sold out as well. The slowest stack is stack 2 but should clear by tonight. So there is strong demand after all even though the quantum is 3 to 6 millions. No rat units here. Singaporeans are really rich. I am currently drinking coffee bean's coffee now while looking at the crowd above. Remind me of MBR when they launched 2 years back. Exactly same scene, same queue system, same tactics of releasing units. Hopefully, the same rally.
-----------------------------------------------------------------------
Looks like response to MBS seems good!!!!!!!!!!!!!!:scared-4:

Reporter
25-11-09, 15:05
Saw this in another website:

The Sailowner

It's released up to 45F due to overwhelming demand. Maybe the pricing really attractive. Starting from 1850 (7th floor). Stack 3 as expected, is fully sold out with one low floor unit left. Stack 1 and 4 are 75% sold out as well. The slowest stack is stack 2 but should clear by tonight. So there is strong demand after all even though the quantum is 3 to 6 millions. No rat units here. Singaporeans are really rich. I am currently drinking coffee bean's coffee now while looking at the crowd above. Remind me of MBR when they launched 2 years back. Exactly same scene, same queue system, same tactics of releasing units. Hopefully, the same rally.
-----------------------------------------------------------------------
Looks like response to MBS seems good!!!!!!!!!!!!!!:scared-4:
Saw another comment too.

Don't tell me they want to almost sell out today?


#44-01

$2600 psf.

Commission down to 0.35%.

Reporter
25-11-09, 15:59
Not bad. Managed to achieve a median price of 2.2 – 2.3k so far. Dishonourable and unscrupulous reporters will be reporting “MBS only managed to sell 50% of total units close to 1800psf”. Ethical reporter will report “MBS almost sold out in less than 1 day from $1850 to $2800 psf”. I am here all the way, I know the situation. Quite chaotic earlier when they announce that they will release another 15 extra floors.

Think they are extending their opening hours from 6pm to 9pm depending on the crowd. I think they want to clear everything today. Stack 3 totally sold out already. Lowest quantum (still 3 million and above) with 1/4 bayview. Stack 1 left some low floor units. Stack 4 left a few high floors and stack 2 still have quite a number of units up for grab.


Based on my visit to the site earlier on (I might be wrong):-

Stack 1 – 50% bayview and full unblocked seaview for now. Can see flyer, IR but view is kind of sandwiched between Sail and MBFC tower 1.
Stack 2 – 40% bayview, 25% seaview and blocked city view.
Stack 3 – 30% bayview, 10% seaview and blocked city view.
Stack 4 – 10% bayview if lucky, seaview only when sticking your head out. Totally blocked by Sail tower 2, MBFC tower 1 & 2 and ORQ. High floor might have some distant seaview.

If 50% bayview can command 2.8k psf for mid floor, then MBR and Sail Full bay high floor can sell at how much?
thanks for report....might pop over n look soon.

so means they released about 152 units....if they got average $2250 for those released, then:

Stack 1 -2,250 x 2,691 sq.ft. x 38 units x 75% = $172.5 million
Stack 2 - 2,250 x 2,067 sq.ft. x 38 x 50% = $88.4 million
Stack 3 - 2,250 x 1,593 sq.ft. x 38 x 100% = $136 million
Stack 4 - 2,250 x 1,615 sq.ft. x 38 x 75% = $103.6 million

TOTAL - $500.5 million sold so far !!!!!

Not a bad statement about future of Marina Bay at all.....

At the end of the day, if 45-66F are sold, the headlines will eventually mention $3k being achieved...no doubt at all =)
Err ... they seriously want to sell out today!

jlrx
25-11-09, 17:00
Dishonourable and unscrupulous reporters will be reporting “MBS only managed to sell 50% of total units close to 1800psf”. Ethical reporter will report “MBS almost sold out in less than 1 day from $1850 to $2800 psf”.

Don't worry, we have a "Reporter" here who is the "ethical" type. :p


Err ... they seriously want to sell out today!

So strange.

Last year when they launched, only managed to sell one unit at $1,740 psf, and even that one sale had been cancelled by "mutual agreement".

$1,740 psf - only one buyer.

$$1850 to $2800 psf - almost sold out.

What logic is this? :confused:

Wonder will that one buyer be able to get it back at $1,740 psf?


Business Times

March 21, 2009

Kepland Defers Construction of Marina Bay Suites

The group had earlier managed to sell just one unit in the project, at about $1,740 per square foot, in the second half of last year. However, a KepLand spokeswoman told BT yesterday that the sale of that unit has been cancelled by mutual agreement.

This is getting more and more like Dec 2006 ... the calm-before-the-storm ...

http://2.bp.blogspot.com/_t9D_ovmGhQE/Sac0Ex55wfI/AAAAAAAAWeA/hPZ6qmnMZRk/s400/Calm+before+the+storm.jpg

It seems like we have been cooling down for this cold-and-quiet X'mas, that I wished for, since 14 September.

I will go for my cruise, holidays, etc. after MBS preview.
Déjà vu!
But no! It was MBR - not MBS - back in 2006 X'mas. There was a difference.

I better get ready ...

Once my godfather gives me the ang pow, I'll have to take part in the next wave of the tsunami ...

august
25-11-09, 17:45
sources from the ground:

released till 45th flr due to gd response, prices from 1850 to 2600psf ~

Squall8888
25-11-09, 17:51
Correction. 2685 psf.




sources from the ground:

released till 45th flr due to gd response, prices from 1850 to 2600psf ~

august
25-11-09, 17:52
Correction. 2685 psf.

they release 46th flr ??

moneyspinner
25-11-09, 18:12
Marina Bay Suites sells fast; let the good times roll
http://www.h88.com.sg/images/content/2009-11-25/main.jpg We are getting some unconfirmed reports on the ground that Marina Bay Suites (http://www.h88.com.sg/article/Marina+Bay+Suites+finally+launching/) is moving fast and that there is quite a crowd at the sales gallery.

The prices were lower than expected and start from ~$18xx psf. Units on the lower floors were released first, although it seems more have been made available due to good response. It seems at least one stack was said to have been sold out by mid afternoon.

If the good times keep rolling for the rest of the day, we expect around half a billion dollars or more to have exchange hands on paper at the Marina Bay today.

Some property enthusiasts online have even compared this 'feeling' with the 2007 bull run, which started at the same place in late 2006.

bargain hunter
25-11-09, 19:40
i think you made an error with your partial cutting and pasting. The 1 unit sold at $1,740psf refers to Madison Residences.

"In a filing with the Singapore Exchange yesterday, KepLand announced construction deferral of the 56-unit Madison Residences on the former Naga Court site in Bukit Timah.
The group had earlier managed to sell just one unit in the project, at about $1,740 per square foot, in the second half of last year. However, a KepLand spokeswoman told BT yesterday that the sale of that unit has been cancelled by mutual agreement."



Don't worry, we have a "Reporter" here who is the "ethical" type. :p



So strange.

Last year when they launched, only managed to sell one unit at $1,740 psf, and even that one sale had been cancelled by "mutual agreement".

$1,740 psf - only one buyer.

$$1850 to $2800 psf - almost sold out.

What logic is this? :confused:

Wonder will that one buyer be able to get it back at $1,740 psf?



This is getting more and more like Dec 2006 ... the calm-before-the-storm ...

http://2.bp.blogspot.com/_t9D_ovmGhQE/Sac0Ex55wfI/AAAAAAAAWeA/hPZ6qmnMZRk/s400/Calm+before+the+storm.jpg


I better get ready ...

Once my godfather gives me the ang pow, I'll have to take part in the next wave of the tsunami ...

bargain hunter
25-11-09, 19:48
i was too busy to go down today. My agent updated me with the same info. However, not sure why he said less than 100 units sold. By the info we have gathered around in the various forums, should have well exceeded 100 units right? Anyway, they had a good strategy of pricing it surprisingly below market expectations and telling everyone that the showflat will be opened for today ONLY and the high floor units will be launched in HK (at some say 3000psf). Since 45th floor is already more than 2600psf, 3000psf for the higher floors seem likely.



sources from the ground:

released till 45th flr due to gd response, prices from 1850 to 2600psf ~

jlrx
25-11-09, 20:48
i think you made an error with your partial cutting and pasting. The 1 unit sold at $1,740psf refers to Madison Residences.

"In a filing with the Singapore Exchange yesterday, KepLand announced construction deferral of the 56-unit Madison Residences on the former Naga Court site in Bukit Timah.
The group had earlier managed to sell just one unit in the project, at about $1,740 per square foot, in the second half of last year. However, a KepLand spokeswoman told BT yesterday that the sale of that unit has been cancelled by mutual agreement."

Oops ... pai seh! :ashamed1: They put it under the news title "Kepland Defers Construction of Marina Bay Suites".

I was too excited already ... read wrongly!

Like in the relay race ... too excited ... dropped the baton. :doh:

http://i.dailymail.co.uk/i/pix/2008/08/21/article-0-025F57A000000578-296_306x393.jpg

I'm the runner for the second leg of the race (whereas Property_Owner is the first runner).

proud owner
25-11-09, 22:04
Meeting my friend for lunch at 2 , so maybe not..
anyway.. cannot afford to buy .. not at that level yet.. dont wear that big hat..

Oh ya.. it's for invited buyers and VVIP as stated in the biz times article.
http://74.125.153.132/search?q=cache:q69Sv82oATMJ:www.businesstimes.com.sg/mnt/html/btpre/registration/redirect.jsp%3Fdlink%3D/sub/premiumstory/0,4574,360536,00.html%3F+marina+bay+suite+preview&cd=1&hl=en&ct=clnk&gl=sg&client=firefox-a


even if its for Vips ...you go there ..will there turn you away ??

if i go and they turn me away i call straits times straight away ..complain the howlian ..

bargain hunter
25-11-09, 23:13
now they haolian liao loh. say one day only. no more liao. sell in hk next. :D


even if its for Vips ...you go there ..will there turn you away ??

if i go and they turn me away i call straits times straight away ..complain the howlian ..

mr funny
26-11-09, 12:40
http://www.businesstimes.com.sg/sub/companies/story/0,4574,361191,00.html?

Published November 26, 2009

80 units sold at Marina Bay Suites preview

Developer not expected to release more units in the condo until 2010

By KALPANA RASHIWALA


ABOUT 80 of the 90 units previewed at Marina Bay Suites yesterday have been sold, at an average price understood to be slightly above $2,300 per square foot.

http://www.businesstimes.com.sg/mnt/media/image/launched/2009-11-26/BT_IMAGES_KRMARINA26.jpg
In the spotlight: The developer says that the 'average price range was between $2,200 psf and $2,500 psf'

However, the consortium developing the project said that the 'average price range was between $2,200 psf and $2,500 psf'. Only three and four-bedroom units on the low to mid- floors at the 66-storey development were released for yesterday's preview.

'Unit sizes range from 1,572 to 2,691 sq ft for the three to four-bedroom units,' said a spokesman for Raffles Quay Asset Management, the asset manager for Marina Bay Suites.

BT understands that the consortium developing the 221-unit, 99-year leasehold condo, does not plan to offer any more units in the development until next year. The show suite for the condo will be completed in the first half of next year and housed in an office tower in the Marina Bay Financial Centre (MBFC).

The condo, MBFC and an earlier condo project, Marina Bay Residences, are being developed on a 99-year leasehold plot sold by the Singapore government in 2005 to a consortium controlled by Keppel Land, Cheung Kong Holdings and Hongkong Land Holdings.

Yesterday's preview was held on the mezzanine level of One Raffles Quay, which was also developed earlier by the three partners. The project is being marketed by CB Richard Ellis and DTZ.

'There are no immediate plans to officially launch Marina Bay Suites (MBS). This private preview was for invited clients, business associates, registered prospects, staff and directors. We will launch MBS at the appropriate time,' the spokesman said.

Initially, the consortium had planned to release only 50 units but decided to add 40 more due to keen demand from potential buyers.

BT understands that at least a third of the buyers were foreigners (including permanent residents) and companies, with Indonesians being the predominant foreign buyers. Well-heeled Singaporeans also bought units in the condo.

Prices of three-bedders start from $3 million or about $1,908 psf, BT understands.

The least expensive four-bedder (a 2,045 sq ft unit) cost $4.3 million or $2,103 psf. For the larger four-bedroom apartments of 2,680 sq ft, prices start from $6.1 million or $2,276 psf.

mr funny
26-11-09, 12:53
http://www.straitstimes.com/Money/Story/STIStory_459224.html

Nov 26, 2009

Strong sales at Marina Bay Suites preview

Buyers snap up most of the 90 units released for sale yesterday

By Joyce Teo


A one-day preview at the upmarket Marina Bay Suites development saw invited buyers snap up most of the 90 units released for sale at average prices ranging from $2,200 to $2,500 per sq ft (psf).

At least 81 units were bought yesterday at the 99-year leasehold, 221-unit condominium in Marina Bay, whose launch had been delayed by almost two years, said a spokesman for Raffles Quay Asset Management, which manages Marina Bay Financial Centre. The centre has two residential towers - Marina Bay Residences, which sold out in late 2006, and Marina Bay Suites.

Prices achieved were below the expectations the developers had early last year, before the property market slumped as the global crisis took hold.

It was then thought that the condo could be priced around $3,000 psf, given that the most expensive units in Marina Bay Residences and The Sail @ Marina Bay had then traded beyond that price level.

The invited group of buyers yesterday consisted of registered clients, directors and staff working for the developers - a consortium comprising Keppel Land, Hongkong Land and Cheung Kong Holdings.

The condo has units of three- to four-bedrooms ranging in size from 1,572 sq ft to 2,691 sq ft, as well as three larger penthouses.

Yesterday, the three-bedroom units went for between $3 million and $3.7 million.

The smaller four-bedroom units sold for around $4.3 million to $5 million, while the larger four-bedroom units achieved prices of $6.1 million to a shade below $7 million.

About two-thirds of the Marina Bay Suites buyers were Singaporeans, with the balance made up of foreigners, permanent residents and a few companies, said Mr Joseph Tan, executive director for residential properties at one of the marketing agents, CBRE.

Marina Bay Suites had been slated for launch early last year when there was talk that the three-bedroom units would command a price of $4 million to $5 million.

But the market downturn prompted the postponement and, said Mr Tan, the preview had to be pitched at today's prices.

Cushman & Wakefield managing director Donald Han agreed that in today's high-end market, 'you need to provide a discount from the peak levels'.

'The value proposition is there for investors keen on luxury properties,' he said.

'Generally, there may be more upside as prices in the high-end to luxury markets are still about 20 per cent to 25 per cent from the peak levels in early 2008.'

Mr Han said the market is seeing demand slowly returning in the $2,000 psf to $3,000 psf range, but not yet for those priced above these prices.

Experts also said Marina Bay Suites' location is a major selling point.

'The lure factor of Marina Bay properties is the proximity to the integrated resort, and the finite supply of homes there,' said Mr Han.

Caveats lodged for The Sail @ Marina Bay this month showed deals done at between $1,744 psf and $2,800 psf, while Marina Bay Residences deals were done at $2,170 psf to $2,420 psf last month.

Sellers are hoping that values in the area will rise by the time the integrated resort in Marina Bay is completed, he said.

Indeed, Mr Tan said the plan was to launch the condo at 'better prices' in the first half of next year when the integrated resort opens.

The showflat would be ready by then.

[email protected]

Reporter
26-11-09, 14:57
http://www.zaobao.com/images1/zblogo.gif
滨海湾第二个摩天公寓 推出90单位已卖九成
吴慧敏
联合早报
26-11-2009

http://asiaarchitecture.com/wp-content/uploads/2008/10/1876_marina.jpg

滨海湾金融中心(MBFC)内的第二个摩天共管公寓项目——Marina Bay Suites,在冻结两年后终于开卖。在昨天的预售会上,发展商原本将50个单位开放给买家选购,由于销售反应相当热烈,它随后再推出另外40个单位。

代表发展商的公关发言人说,截至昨天晚上,预售会上推出的90个单位已卖出九成,每平方英尺平均成交价介于2200元至2500元。

成交的单位都属于三或四卧房式单位,面积介于1572平方英尺至2691平方英尺,这也就是说,每个单位的成交价动辄四五百万元。

她透露,昨天参加预售活动的贵宾,都是公司的客户、商业伙伴、员工和公司董事等。她表示,这不是一项公开的销售活动,公司暂时没有计划在未来两天,或者即将来临的周末,推出更多单位。

这栋66层高的摩天公关公寓共有221个单位,其中218个属于三或四卧房式单位,另外三个为顶层豪宅(penthouse)。

Marina Bay Suites早在去年1月就已经筹备推出,当时,发展商原本瞄准的平均尺价至少是3000元,不料,全球金融大海啸爆发,迫使发展商不得不延迟推出计划。

这一两年来,由于面积小的单位特别好卖,所以市场一直盛传,由香港置地、长江实业和吉宝置业组成的财团,出现了一些意见分歧:有的伙伴建议缩小单位的面积,有的却坚持维持原来的设计。

现在,Marina Bay Suites仍然以全部大面积单位推出,而且在一天之内卖出大约80个单位,市场人士认为,这应该会为其他有意推出的豪宅项目注入一些信心。

本地楼市在政府于9月中实施的降温措施后便冷却下来,发展商推出和卖出的新私宅单位已连续三个月下跌。今年10月卖得最好的一个项目,是位于武吉知马路的Cyan,它在上个月以1821元的中位尺价,卖出了81个单位。

由于这个月没有什么大型项目上市,因此,已经卖出大约80个单位的Marina Bay Suites应该也有望成为11月的热卖项目。

不过,相比较滨海湾金融中心的第一个摩天共管公寓项目——滨海湾居(Marina Bay Residences),Marina Bay Suites的销售反应还是明显趋冷。

滨海湾居在2006年12月推出时,吸引了长长的排队人龙,全部428个单位在三天之内就卖个清光,当时的每平方英尺平均成交价约1850元。

目前,Marina Bay Suites附近的项目,例如滨海舫(The Sail @ Marina Bay)的二手交易情况仍是市场瞩目的焦点,例如最近有一个面对海湾的50层单位(900平方英尺)以3000元的高尺价成交,一个面对海湾的30楼四卧房式单位则以稍微超过2700元的尺价成交。

Reporter
02-12-09, 11:09
http://www.ocbcresearch.com/image/oir_logo.jpg
Keppel Land Ltd
Exceptional demand at MBS
Foo SzeMing
OCBC Investment Research
Monday, 30 November 2009, 08:48:37

http://www.ocbcresearch.com/image/Bottom%20Table/Keppel%20Land%20logo.gif

The Marina Bay Suites (MBS) was finally previewed last week and saw exceptional demand from buyers on the first day. The pricing achieved for MBS is impressive compared to other properties in the vicinity and we have now raised our average selling price assumption for MBS to S$2,500 psf. Among the developers, Keppel Land (KepLand) is best positioned to benefit from the opening of the IRs. KepLand still holds three pieces of land at the Keppel Bay area and these could appreciate in value over the long term. As we are now more optimistic on the high-end property segment, we have removed the 20% discount that had been previously ascribed in our valuation and thus derive a fair value of S$3.61 on KepLand. With a slew of positive catalysts ahead in 2010 – the opening of the IRs, completion of the Marina Bay Financial Centre and the launch of MBS, we are now upgrading KepLand from HOLD to BUY.


Strong response at the MBS preview. The Marina Bay Suites (MBS) was finally previewed last week and saw exceptional demand from buyers on the first day of the preview. Only units up to 45th floor were released for preview and at least 81 units of the 90 units previewed were sold during the first day at average prices ranging from S$2,200 psf to S$2,500 psf. Sizes of the three and four-bedroom units range from 1,572 sqft to 2,691 sqft and prices start from S$3m and S$4.3M, respectively. At least one-third of the buyers were foreigners and companies.



Raising our ASP assumption for MBS to S$2,500 psf. The success of the preview provides more evidence that genuine buying interests from locals and foreigners have returned to the high-end property market. The pricing achieved for MBS is on par with recently transacted prices at The Sail and Marina Bay Residences, which have better frontages. We are now raising our average selling price assumption for MBS to S$2,500, which is a comfortable estimate as the higher floor units can achieve better pricing when released for sale next year.



A key beneficiary of the opening of IRs. The two integrated resorts – Resorts World at Sentosa (RWS) and Marina Bay Sands – are expected to open in early 2010. Among the developers, Keppel Land (KepLand) is best positioned to benefit from the opening of the IRs. We expect the pricing of the remaining unlaunched units at Reflections at Keppel Bay and MBS to increase upon the completion of the two IRs. In addition, KepLand still holds three pieces of land at the Keppel Bay area and these could appreciate in value over the long term due to its close proximity to the RWS. We have now raised our achievable selling price for these three plots of land to S$1,800 psf.



Time is ripe for an upgrade. With the adjustments in our selling price assumptions, our RNAV estimate has now been raised to S$3.61 per share (previously S$3.39). As we are now more optimistic on the high-end property segment, we have removed the 20% discount that had been previously ascribed in our valuation and thus derive a fair value of S$3.61 on KepLand (previously S$2.92). With a slew of positive catalysts ahead in 2010 – the opening of the IRs, completion of the Marina Bay Financial Centre and launch of MBS, we are now upgrading KepLand from HOLD to BUY.

tanumy
02-12-09, 18:47
better buy double bay residence at simei with low PSF and great to invest due to upcoming new university and shopping mall / hotels. Great rental yield too.

Reporter
03-12-09, 09:12
http://www.businesstimes.com.sg/mnt/html/bto5/images/topMasthead_small.gif
6 whole floors sold at Marina Bay Suites preview
Buyers include Indonesians, Singaporeans and other Asians
Kalpana Rashiwala
The Business Times
Thursday, 3 December 2009

http://asiaarchitecture.com/wp-content/uploads/2008/10/1876_marina.jpg
Marina Bay Suites

About half a dozen floors at Marina Bay Suites changed hands at last week's preview of the project, BT understands.

The buyers of the whole floors are understood to be Indonesians, Singaporeans and other Asians.

Some of them bought through companies. The foreigners are believed to be Singapore permanent residents.

In absolute terms, the biggest transaction was close to $45 million, involving at least 2 floors. The buyer is understood to be an Indonesian party.

Market watchers estimate that it could have cost buyers between $17 million and $18 million to purchase a whole floor at the 99-year leasehold condo based on prices at last week's preview.

Each floor has four apartments - two 3-bedroom units and two 4 bedders. The total saleable area per floor is slightly under 8,000 sqft.

Thomas Tan, head of marketing (residential) at Raffles Quay Asset Management (RQAM), told BT yesterday that 87 of the 90 units released for the preview have been sold.

The 87 units fetched close to $400 million, he added.

Two thirds of the units were sold to Singapore residents (including PRs). The remaining one third was sold to non-PR foreigners, including Indonesians, Malaysians, mainland Chinese, Australians and Americans.

'We do have multiple-unit buyers, but due to client confidentiality and privacy reasons, we are unable to reveal such information,' Mr Tan said when asked about purchases of entire floors.

RQAM is the asset manager for Marina Bay Suites, which is being developed by a joint venture involving Hongkong Land, Keppel Land and Cheung Kong Holdings.

Mr Tan declined to give details about pricing except to reiterate that 'the average price range was between $2,200 psf and $2,500 psf'. BT understands that on an average basis, the 90 units were priced at close to $2,300 psf.

However, the range at which the apartments were sold could be about $1,800 psf to slightly over $2,600 psf.

Mr Tan said that the apartments released were from the 7th to the 40th-plus floors of the 66-storey development.

The 221-unit project comprises 218 3- or 4-bedroom apartments and three penthouses. Currently, the plan is to begin construction of the project sometime in the first half of next year, Mr Tan said.

'We have no immediate plans to release more units for the rest of this year but we'll continue to register interested buyers. We'll monitor the market and determine the price at the time of launch.'

jlrx
03-12-09, 15:12
'We do have multiple-unit buyers, but due to client confidentiality and privacy reasons, we are unable to reveal such information,' Mr Tan said when asked about purchases of entire floors.

The Business Times reporter Kalpana Rashiwala did not do her legwork.

If she had bothered to interview me, I could have given her the name of one such multiple-unit buyer.

His name is Property_Owner. He is an old friend of CDL boss Kwek. He resides on the ground floor of a condo called CONDOSingapore.com. I know because I'm his 8th floor neighbour.

I'm surprised that our 7th floor neighbour did not inform his colleague Ms. Rashiwala.


Cheap lah, not cheapskate. I had throw in a few cheques for the preview next week. :D :D :D


Dun worry, I have faith in my old friend Kwek:)


1) Property_owner
2) mcmlxxvi
3) Pearly
4) teddybear
5) John Tan
6) housewife: yeah got my lucky number
7) Reporter
8) jlrx
9) cheerful
10) hans
13) Seraphim13
57) 5577
88) kane
168)shespawn
888)Cactus72
1028) limfc
2638) sleek
5598) isaaclim
8168) Maninthestreet
8814) focus
8888) karenk :D
16854) Proud owner (number to be read in cantonese)

Reporter
08-12-09, 21:11
Directors buy units at Marina Bay Suites
Tuesday, 8 December 2009

http://farm3.static.flickr.com/2484/3829216606_f9deba6ea1.jpg

Keppel Land on Tuesday said that it has 2 granted options to purchase units in Marina Bay Suites to a director of Keppel Land and his wife, and a director of Keppel Corporation (KepLand's parent company) and his wife.

Mr and Mrs Niam Chiang Meng have bought a 2,045 sqft 4-bedroom unit at the development for $4.6 million, or $2,238 psf. Mr Niam is a KepLand director.

And Mr and Mrs Yeo Khirn Hai Alvin have bought a 2,680 sqft 4-bedroom unit for $6.5 million, or $2,442 psf.

Mr Yeo is a director of Keppel Corp. Mr Yeo is also a Member of Parliament (MP) for Hong Kah GRC.

andy
08-12-09, 21:24
Directors buy units at Marina Bay Suites
Tuesday, 8 December 2009

http://farm3.static.flickr.com/2484/3829216606_f9deba6ea1.jpg

Keppel Land on Tuesday said that it has 2 granted options to purchase units in Marina Bay Suites to a director of Keppel Land and his wife, and a director of Keppel Corporation (KepLand's parent company) and his wife.

Mr and Mrs Niam Chiang Meng have bought a 2,045 sqft 4-bedroom unit at the development for $4.6 million, or $2,238 psf. Mr Niam is a KepLand director.

And Mr and Mrs Yeo Khirn Hai Alvin have bought a 2,680 sqft 4-bedroom unit for $6.5 million, or $2,442 psf.

Mr Yeo is a director of Keppel Corp. Mr Yeo is also a Member of Parliament (MP) for Hong Kah GRC.

MP also buy... not afraid of Mah pulling a fast one on him?

bargain hunter
08-12-09, 22:43
The Niams bought #32-02 at 2238psf and the Yeos bought #32-01 at 2442psf. How come they are buy #32 at what was suppose to be the average price of the project?



Directors buy units at Marina Bay Suites
Tuesday, 8 December 2009

http://farm3.static.flickr.com/2484/3829216606_f9deba6ea1.jpg

Keppel Land on Tuesday said that it has 2 granted options to purchase units in Marina Bay Suites to a director of Keppel Land and his wife, and a director of Keppel Corporation (KepLand's parent company) and his wife.

Mr and Mrs Niam Chiang Meng have bought a 2,045 sqft 4-bedroom unit at the development for $4.6 million, or $2,238 psf. Mr Niam is a KepLand director.

And Mr and Mrs Yeo Khirn Hai Alvin have bought a 2,680 sqft 4-bedroom unit for $6.5 million, or $2,442 psf.

Mr Yeo is a director of Keppel Corp. Mr Yeo is also a Member of Parliament (MP) for Hong Kah GRC.

mr funny
09-12-09, 12:00
http://www.straitstimes.com/Money/Story/STIStory_464301.html

Dec 9, 2009

2 Keppel directors buy Marina Bay units


TWO directors in the Keppel group of companies are shelling out millions of dollars for units in the plush Marina Bay Suites that Keppel Land is involved in developing.

Keppel Corp director Alvin Yeo, who is also the senior partner at law firm Wong Partnership, is paying $6.54 million or $2,442 per sq ft (psf) for a 2,680 sq ft apartment on the 32nd floor of the luxury project.

The details of the transaction were disclosed in an announcement by Keppel Land to the Singapore Exchange yesterday as part of the exchange's listing rules.

No discount was given by Keppel Land, which is one of the joint-venture partners of the project along with Hongkong Land and Cheung Kong Holdings.

Keppel Land director Niam Chiang Meng is paying $4.577 million or $2,238 psf for his unit, also on the 32nd floor but smaller at 2,045 sq ft.

Mr Niam also did not receive any discount.

The recent preview of Marina Bay Suites saw units snapped by Singaporeans and foreigners, including Indonesians, Malaysians, mainland Chinese, Australians and Americans.

Reports have put the pricing of the units sold at around $2,300 psf.

LEE SU SHYAN

Reporter
09-12-09, 12:07
MP also buy... not afraid of Mah pulling a fast one on him?
At least Niam Chiang Meng, former CEO of HDB, has left HDB and is no longer reporting to Mah.
So he can buy, right?

But Yeo Alvin an MP?
He still need to work with Mah right?
Different GRC, so safe from Mah?

Blue
09-12-09, 14:56
better buy double bay residence at simei with low PSF and great to invest due to upcoming new university and shopping mall / hotels. Great rental yield too.

Hello...there is a difference between buying LV and Coach hor...and Double Bay Residence is not even Coach level.. :rolleyes:

bargain hunter
15-12-09, 16:52
Marina Bay Suites sold 87

Median 2,159
Lowest 1,826
Highest 2,623

From various BT articles,

"However, the consortium developing the project said that the ‘average price range was between $2,200 psf and $2,500 psf’"

Business Times 26 Nov

"Thomas Tan, head of marketing (residential) at Raffles Quay Asset Management (RQAM), told BT yesterday that 87 of the 90 units released for the preview have been sold.

Mr Tan declined to give details about pricing except to reiterate that ‘the average price range was between $2,200 psf and $2,500 psf’."

Business Times 3 Dec

Liars...trying to talk up their own project. Median price is only 2159, where is the AVERAGE PRICE OF 2200 TO 2500???

aerosmith
17-12-09, 13:01
Marina Bay Suites sold 87

Median 2,159
Lowest 1,826
Highest 2,623

From various BT articles,

"However, the consortium developing the project said that the ‘average price range was between $2,200 psf and $2,500 psf’"

Business Times 26 Nov

"Thomas Tan, head of marketing (residential) at Raffles Quay Asset Management (RQAM), told BT yesterday that 87 of the 90 units released for the preview have been sold.

Mr Tan declined to give details about pricing except to reiterate that ‘the average price range was between $2,200 psf and $2,500 psf’."

Business Times 3 Dec

Liars...trying to talk up their own project. Median price is only 2159, where is the AVERAGE PRICE OF 2200 TO 2500???

i not sure bout the stats and all, but what i can see just based on what you gave is that mean and median are VERY different, hope you understand now, in my opinion, i think developers will calculate both mean and median, and then publish the higher one, since they know many people will confuse mean with median. btw, this is not illegal too, because you see, they are not lying, this is a common form of business practice.

i also want to ask all the experienced people here as i am confused, the MBS view can really see the marina bay? cos thats my buying point, also, is MBS taller than sail or MBR, by taller , i don't mean floors, i mean height.

Reporter
14-01-10, 09:20
http://www.sph.com.sg/images/logo_bt.png
Lüxüry projects to dömïnätë this year
The Business Times
Thursday, 14 January 2010

http://business.asiaone.com/a1media/business/12Dec09/others/20091209.141819_stmarinabaysuites.jpg
A one-day preview at the upmarket Marina Bay Suites development saw invited buyers snap up most of the 90 units released for sale at average prices ranging from $2,200 to $2,500 psf.

Developers are expected to push out a slew of hïgh-ënd and lüxüry projects in 2010 as buying momentum starts returning to these segments of the property market.

Data from CB Richard Ellis (CBRE) shows that of the 7,975 landed and non-landed homes that are likely to be launched in 2010, more than 40% of them are in Singapore’s core central region (CCR), which includes the prime Districts 9, 10 and 11, the financial district and Sentosa Cove.

A total of 3,469 homes will be in the CCR. Another 3,071 units are in the outside central region, which is a proxy for suburban mass-market locations. The remaining 1,435 homes are in the mid-tier rest of central region.

In contrast, most private home launches in 2009 were in the mass market.

‘The first half of 2010 will see a wider spread of project launches from mass market, to city fringe and to prime locations,’ said Joseph Tan, CBRE’s executive director of residential.

‘A lot of developers did not launch or re-launch their high-end and luxury projects last year as prices were down,’ said Cushman & Wakefield Singapore managing director Donald Han.

‘They were holding onto their projects because they could afford to. Now, with prices beginning to climb, we can expect more launches in these segments.’

According to Goldman Sachs, luxury homes prices here are still some 19% bëlöw their 2007 pëäk, while prime and mass market home prices are 8% and 4% lower than their previous peaks respectively.

However, it is unclear if the take-up for luxury homes will be as strong as that seen during the 2007 boom. Back then, sales were fuelled by international buyers. But now, most developers and analysts agreed that foreign demand has not returned as strongly as hoped to the high-end and luxury market.

But sellers are still hopeful that the openings of the integrated resorts will once again kick-start more interest from international investors into Singapore.

The fact that luxury prices are still far from their peaks means that investing in Singapore will once again prove to be attractive to international buyers, Mr Han added.

Said UOB Kay Hian analyst Vikrant Pandey: ‘The growing acceptance of Singapore as a choice destination to live and work will fuel prices further because property prices in Singapore are still significantly lower than those of key gateway cites of Monaco, London, New York, Hong Kong, Tokyo and Moscow.’

There is also a lot of speculation on the ground about how developers will replenish their landbanks once they start selling luxury and high-end homes once again. In 2006 and 2007, a scramble for prime residential sites led to a booming collective sales market.

‘All developers we spoke to are looking to participate in the government land sales for 2010, as land banks have been run down in the strong buying momentum in 2009,’ said Macquarie analysts Elaine Cheong and Soong Tuck Yin in a Jan 6 note.

‘A few have lost out in 2009 tenders due to intense competition. We see overpaying for land as a key risk for developers in 2010.’

Some analysts believe that collective sales, which witnessed a slump in 2008 and 2009, with only one transaction compared to 116 in 2007, could stage a comeback in 2010 if the strong buying sentiment in the property market continues well into the year.

‘We expect en bloc sales to make a comeback on the back of: rapidly falling inventory levels among developers; the H1 2010 government land sales programme (which) mainly targets the mass-market segment; a recent surge in high-end transactions; moderation in price expectations by collective sale home owners; and the transformation of Singapore into a top global city with the opening of the integrated resorts,’ said UOB Kay Hian’s Mr Pandey.

But Goldman Sachs said that the en bloc fever is not likely to return anytime soon.

‘Developers’ demand concerns still trump the need to replenish land banks, suggesting a new wave of en-bloc sales is not yet in sight,’ said analysts Paul Lian and Rishab Bengani yesterday.

‘As a group, developers made $2.5 billion in land purchases in 2009, flat over 2008, and some 75% below 2006 peak levels, despite record take-up in 2009.’

Reporter
16-01-10, 17:40
Private Residential Units Sold in the Month of November 2009

Project Name ..... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Marina Bay Suites . CCR ....... 87 ........................ 87 ......................... 2,623 ........... 2,159 ........... 1,826

Private Residential Units Sold in the Month of December 2009

Project Name ..... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Marina Bay Suites . CCR ....... 89 ........................ 2 ........................... 2,611 ............ 2,480 ........... 2,348
One Phase-1 unit unsold as of 31 December 2009?

$2,623 psf is its high.

Reporter
24-02-10, 09:01
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Las Vegas Sands to open Singapore casino on 27th April 2010
Bloomberg
Singapore
Wednesday, 24 February 2010, 9.43 am CCT

http://www.finehomeslv.com/stardust_hotel_las_vegas/las-vegas-sands.jpg

Las Vegas Sands said on Wednesday it plans to open the first phase of its US$5.5 billion (S$7.75 billion) Singapore casino, Marina Bay Sands, on 27th April 2010.

It said its Marina Bay Sands casino will open along with 963 hotel rooms, part of the shopping mall and convention centre, and several dining outlets, including several run by celebrity chefs.

mr funny
01-05-10, 04:33
http://www.businesstimes.com.sg/sub/news/story/0,4574,383568-1272657540,00.html?

Published April 30, 2010

More than 30 units of Marina Bay Suites sold

Prices for latest preview are 15-20% higher

By KALPANA RASHIWALA


MORE than 30 units were sold at a preview for Marina Bay Suites yesterday. They were among a batch of 36 apartments released on nine floors in the 66-storey condominium project and which are priced between $2,167 per square foot and $3,133 psf.

http://www.businesstimes.com.sg/mnt/media/image/launched/2010-04-30/BT_IMAGES_KRMARINA30.jpg
Artist's impression: Marina Bay Suites has a total 221 units, comprising 218 three- or four-bedroom apartments and three penthouses

Analysts observe this pricing is about 15 to 20 per cent higher than the $1,900-2,600 psf for the initial batch of about 90 units sold in the condo late last year.

Some potential buyers may have found the quantum of price hike, taking place within a space of less than six months, 'a bit too heavy', as a market watcher put it.

The most expensive unit sold yesterday is said to cost about $8.4 million; it is a four-bedder-with-study on the 51st level. The 'cheapest' of the 36 apartments is a three-bedroom apartment on the seventh storey priced at $3.5 milllion.

The 90-odd units sold last year were mostly below the 46th storey sky terrace.

Those who picked up a unit yesterday are said to comprise a good mix of foreigners and Singaporeans. BT understands the 36 apartments offered range from 1,615 sq ft for a three-bedder to 2,690 sq ft for a four-bedder with study.

Marina Bay Suites has a total 221 units, comprising 218 three- or four-bedroom apartments and three penthouses. A typical floor has only four apartments with private lift lobbies in every unit. Each penthouse comes with its own swimming pool.

While the earlier preview was held on the mezzanine level of One Raffles Quay, yesterday's sales were at a showflat built on the fourth floor of the Marina Bay Financial Centre Office Tower 1.

The latest preview was open to those who had registered interest. From today, sales will be by appointment. The project is being marketed by CB Richard Ellis and DTZ.

This week's preview is timed to ride on the partial opening of the nearby Marina Bay Sands integrated resort on Tuesday.

Marina Bay Suites is being developed by a consortium controlled by Keppel Land, Cheung Kong Holdings and Hongkong Land Holdings.

Reporter
17-05-10, 19:15
Marina Bay Suites in District 1 has a nëw hïgh of $3,132 psf!


Private Residential Units Sold in the Month of April 2010
Project Name ..... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Marina Bay Suites . CCR ........ 221 ...................... 5 ............................ 3,132 ........... 2,678 ........... 2,220

reporter2
09-02-12, 16:00
http://www.straitstimes.com/PrimeNews/Story/STIStory_764653.html

'More S'pore properties in KL cows-and-condos scandal'

Published on Feb 9, 2012

http://www.straitstimes.com/STI/STIMEDIA/image/20120208/ST_IMAGES_CASHAH-85I.jpg
A showflat photo of Marina Bay Suites, where Ms Shahrizat's family is said to have bought two units. -- PHOTO: MARINA BAY FINANCIAL CENTRE

By Carolyn Hong, Malaysia Bureau Chief

KUALA LUMPUR: Embattled Cabinet Minister Shahrizat Jalil was hit by fresh allegations yesterday that her family had bought two luxury condo units in Marina Bay Suites, Singapore for over $7 million each.

This came just as Ms Shahrizat returned from three weeks' leave to allow the authorities to investigate allegations that her family-run company had misused a RM250 million (S$100 million) government soft loan meant for a cattle breeding project.

Ms Shahrizat, who has not responded to the latest allegations, said separately that she was called in by the Malaysian Anti-Corruption Commission yesterday for questioning as part of an ongoing probe into the National Feedlot Corp (NFC).

'I am here as the wife of the National Feedlot Corporation executive chairman Datuk Seri Mohamad Salleh Ismail and I would like to clarify that I am not involved in NFC,' she was quoted as saying by The Star.

The latest allegation about Singapore condos came from the opposition Parti Keadilan Rakyat (PKR), which made good on its threat to keep up the pressure on Ms Shahrizat, who has refused to resign as Minister of Women, Family and Community Development.

The scandal comes at a bad time for Prime Minister Najib Razak's government as it gears up for a general election, widely expected in the next few months. Ms Shahrizat is also chief of Mr Najib's Umno party's women's wing.

PKR strategic director Rafizi Ramli showed reporters two condo titles from the Singapore Land Authority which listed Ms Shahrizat's husband and their son Wan Shahinur Izran Salleh as joint owners.

He said the purchases were financed with loans from the United Overseas Bank (UOB) and Malayan Banking (Maybank), and alleged that the loans were approved because the family-run NFC and related firms held large bank deposits.

'The deposits are from the RM250 million fund approved for the operations of NFC which had failed to meet its targets,' he said in a statement. 'This is a purchase that must be investigated by police.'

Mr Rafizi said NFC had a RM180 million fixed deposit in Maybank in Singapore in 2009 but he did not know if there was a similarly large deposit in UOB.

In an immediate response, Mr Wan Shahinur Izran said through his Twitter account that the NFC has declared 'everything' to the authorities. He accused Mr Rafizi of trying to draw attention away from PKR's internal problems.

Ms Shahrizat has come under intense scrutiny since the Auditor-General's report said last October the NFC - an ambitious project tasked with making Malaysia self-sufficient in beef - had missed production targets.

The opposition, with the help of a whistle-blower, then began disclosing one damaging piece of information after another about the expenditures of the NFC, including the purchase of two luxury condo units in an upscale neighbourhood of Kuala Lumpur and one in Orchard Scotts in Singapore.

Ms Shahrizat's three children sit on the company board.

According to the Singapore land titles, Mr Rafizi said, the first Marina Bay Suites condo unit costing $7,114,000 was bought on May 27, 2010. The second one costing $7,117,000 was bought the same day.

The condo block, with a view of the Marina Bay Sands resort and casino, is close to the Brawn Steakhouse managed by the family firm.

Mr Rafizi said that based on current 25-year mortgage rates, Ms Shahrizat's family would have to pay RM173,000 a month for both units. 'The bigger question is, how does the family pay back the monthly repayments?' he asked.

He also said that based on what has been disclosed, the family assets - two Malaysian condo units, three Singapore condo units, a car and two plots of land in Putrajaya - now exceed RM62 million.

Since her return to work this week after a trip to Mecca, Ms Shahrizat has faced more calls for her resignation, including from within Umno.

reporter2
22-01-14, 10:32
http://www.straitstimes.com/archive/wednesday/premium/top-the-news/story/over-90-units-sold-most-unoccupied-20140115

Over 90% of units sold, most unoccupied

Published on Jan 15, 2014

By Nur Asyiqin Mohamad Salleh And Yeo Sam Jo


MORE than 90 per cent of units at the 66-storey Marina Bay Suites have been sold - though most remain unoccupied after being snapped up by investors who are not living in them.

Mr Thomas Tan, director of residential and marketing for Raffles Quay Asset Management which manages the luxury condominium, said there are residents living in only about 20 of the 221 units. So far, 203 units have been sold.

Property agents told The Straits Times that around half of the owners are wealthy locals while the rest are mainly international buyers from Malaysia, China and Indonesia.

Developed by a consortium controlled by Keppel Land, Cheung Kong Holdings and Hongkong Land Holdings, Marina Bay Suites boasts bayfront views, spa lounges and massage terraces.

Agents say units cost $2,700 to $3,000 per sq ft. A three-bedroom unit can go for about $4 million, while a four-bedder can top $6 million. Apartments range from 1,600 sq ft to 2,700 sq ft.

The development has 108 three-bedroom units - all sold - 110 four-bedroom apartments and three penthouses with private pools, one of which fetched $19.3 million. Each floor typically houses four apartments, each served by a private lift lobby.

It is understood that if a fire breaks out, all lifts will be sent to the first floor and residents - alerted by an alarm - must evacuate by one of two stairways.

Some residents were left shaken after Monday's fire. "I am very, very tired," said Mrs Akmam, 40, an Indonesian tourist whose 53rd-floor unit filled with smoke. "I panicked and ran out in just my pyjamas. The lifts were not working so we had to take the stairs. I bought an apartment in Singapore because it is very safe and clean here. But now I want to sell."

But accountant Hugh Von Bergen stays unfazed. The 55-year- old, whose 24th-floor apartment is three floors down from one of Marina Bay Suites' several refuge floors, said: "It's a very well- designed building. There are staircases that lead to the refuge floor. I don't feel unsafe."

[email protected]

[email protected]

thomastansb
22-01-14, 12:23
This condo just TOP. Where got so fast occupied one. Talk cock. Somemore all big units, need some time to find tenants.