FEO leasing out entire Amber Glades

[Leeds]

FEO which acquired Amber Glades en bloc last year has done renovation to the 63 unit apartments and currently putting the whole estate for rental.

Is this a sign of price peaking and FEO prefers to collect rental than redevelop the site? Will rental be under pressure in Katong area?

[eng81157]

FEO which acquired Amber Glades en bloc last year has done renovation to the 63 unit apartments and currently putting the whole estate for rental.

Is this a sign of price peaking and FEO prefers to collect rental than redevelop the site? Will rental be under pressure in Katong area?

waiting for a better time to re-develop it. we can read it either way. on the positive side, can be sure that whatever the new launch is, it's gonna be way higher than the current price ceiling.

[Leeds]

I recalled similar situations when developers rent out their en bloc units instead of redeveloping the sites because they bought the land on the high with the market not supporting their expected selling prices. This happen when market is peaking or market is experiencing correction.

Is FEO waiting for the next cycle when we are still at the peak of the current cycle? Is the market going to correct soon?

[DC33_2008]

5-year redevelopment rule does not apply to enbloc development?

FEO which acquired Amber Glades en bloc last year has done renovation to the 63 unit apartments and currently putting the whole estate for rental.

Is this a sign of price peaking and FEO prefers to collect rental than redevelop the site? Will rental be under pressure in Katong area?

[Leeds]

5-year redevelopment rule does not apply to enbloc development?

FEO acquired the site before the 5-yr rule.

[hyenergix]

In addition to the points discussed, it is also likely FEO wants to wait for the announcement and construction of the new MRT line for the area to realise its full potential.

[felicia_sg]

Think they believe can launch & sell at better price 2-3 years down the road, so why launch at current lower price now when they can collect good rentals now without launching?

I recalled similar situations when developers rent out their en bloc units instead of redeveloping the sites because they bought the land on the high with the market not supporting their expected selling prices. This happen when market is peaking or market is experiencing correction.

Is FEO waiting for the next cycle when we are still at the peak of the current cycle? Is the market going to correct soon?

[pinkpolkadot]

Think they believe can launch & sell at better price 2-3 years down the road, so why launch at current lower price now when they can collect good rentals now without launching?

So they expect price to go up up up?

[DC33_2008]

Not good for condos for rent in that area. More competition.

[NdB]

FEO which acquired Amber Glades en bloc last year has done renovation to the 63 unit apartments and currently putting the whole estate for rental.

Is this a sign of price peaking and FEO prefers to collect rental than redevelop the site? Will rental be under pressure in Katong area?

It seems that they are doing the same with Amber Towers.

[Laguna]

I spoke to a very senior executive at FEO
They will be holding all the FH land at Amber area, including the two pieces of land next to East Village hotel.
They have the holding power and very positive with the land in this area, and waiting for the ERL

[Leeds]

It seems that they are doing the same with Amber Towers.

Amber Towers was bought by a Chinese developer. Doubt they have any incentive to hold on to the land unlike FEO.

Current prices at Amber area is difficult to support the redevelopment of the site they acquired last year. Prices appear to have peaked. Leasing seems to make more sense than redevelopment.

[Allthepies]

5-year redevelopment rule does not apply to enbloc development?

Only apply to company with foreign shareholders? FE is pure local.

[reuters]

This is very interesting indeed.

[minority]

coz they are waiting for ERL. by then 2000psf will be the launch price.!

[carbuncle]

I spoke to a very senior executive at FEO
They will be holding all the FH land at Amber area, including the two pieces of land next to East Village hotel.
They have the holding power and very positive with the land in this area, and waiting for the ERL

Finally Far EAST is putting the money where their mouth is - The EAST. LOL.

[Laguna]

Finally Far EAST is putting the money where their mouth is - The EAST. LOL.

In fact, they are the biggest developer in the East since 4 years ago

[carbuncle]

In fact, they are the biggest developer in the East since 4 years ago

[august]

they also bought over some stretch of landed pty near changi