* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, June 27, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    Wayve Expands Engineering Leadership to Power Next-Gen Autonomous Driving Technology – Silicon Canals

    Wayve Boosts Engineering Leadership to Accelerate Next-Gen Autonomous Driving Innovation

    Frontdoor Announces Tech Expert Dr. Bala Ganesh as Chief Technology Officer – Business Wire

    Frontdoor Appoints Tech Visionary Dr. Bala Ganesh as New Chief Technology Officer

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    China’s Military Introduces Mosquito-Sized Drones: A Game-Changing Surveillance Technology – Indian Defence Review

    China Unveils Mosquito-Sized Drones: Revolutionizing Surveillance Technology

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    Wayve Expands Engineering Leadership to Power Next-Gen Autonomous Driving Technology – Silicon Canals

    Wayve Boosts Engineering Leadership to Accelerate Next-Gen Autonomous Driving Innovation

    Frontdoor Announces Tech Expert Dr. Bala Ganesh as Chief Technology Officer – Business Wire

    Frontdoor Appoints Tech Visionary Dr. Bala Ganesh as New Chief Technology Officer

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    China’s Military Introduces Mosquito-Sized Drones: A Game-Changing Surveillance Technology – Indian Defence Review

    China Unveils Mosquito-Sized Drones: Revolutionizing Surveillance Technology

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

CDL-Dominated Building on Singapore’s Orchard Road Up for Sale at $321M

April 18, 2024
in Technology
CDL-Dominated Building on Singapore’s Orchard Road Up for Sale at $321M
Share on FacebookShare on Twitter

CDL holds 84 percent of the units in Delfi Orchard (Source: Savills)

Singapore’s Orchard Road continues to be a redevelopment hot spot with an ageing building near the Four Seasons and Pan Pacific Orchard hotels launched for sale on Thursday at a reserve price of S$438 million ($321 million).

Delfi Orchard, an 11-storey retail and apartment property built by City Developments Ltd in 1985, is the target of a tender for collective sale managed by Savills as the exclusive agent, with a potential buyer entitled to develop a commercial tower of up to 131,186 square feet (12,188 square metres) on the site.

“Being a freehold commercial site, Delfi Orchard is another rare opportunity for developers looking to acquire a prime redevelopment site at the gateway of Orchard Road,” Jeremy Lake, managing director for investment sales and capital markets at the property agency, said in a statement. “The successful collective sales of Tanglin Shopping Centre and Ming Arcade brokered by Savills, are a testament to the strong attributes of the Orchard Road locale.”

Located at the corner of Orchard Road and Claymore Road, the property stands diagonally opposite Hotel Properties Ltd’s Forum Mall, which was approved for redevelopment in August as part of a three-building scheme, and across the road from the Ming Arcade, which local investor Royal Group acquired through a $127 million collective sale in December 2022.

Tourism Market Opportunity

Delfi Orchard currently consists of six floors of retail shops topped by 23 apartments, with 126 of the 150 strata units in the building still held by CDL, according to the company’s annual report. Collective sale applications in Singapore require consent by holders of 80 percent of the share value and the floor space in the property to secure regulatory approval, with CDL’s holdings representing 84 percent of the units in the building. The 656-key Orchard Hotel Singapore, which is held by CDL Hospitality Trusts, an SGX-listed trust sponsored by the developer, is next door to the building.

Sherman Kwek of CDL

Sherman Kwek, chief executive of City Developments Ltd

The guide price translates to S$3,397 per square foot of the site’s maximum buildable area, according to Savills, with the tender set to close on 27 May.

WIth the 20,264 square foot freehold plot zoned for commercial use, Savills said future developments can accommodate a variety of uses including luxury retail, office, residential and hotel, subject to URA approval. With Orchard Road a top destination for Singapore visitors, Delfi Orchard is also within a few hundred metres of the St Regis and Shangri-La Hotels, in addition to its proximity to the Pan Pacific Orchard and the Four Seasons.

Set in a prime section of Singapore’s best known retail strip, the property is currently home to an assortment of mid-range educational, food and beverage and service companies, including a Starbucks, the Bunka Language School and a feng shui master.

Redevelopment Hotspot

The asking price for Delfi Orchard is 9 percent higher than the S$3,125 per square foot of built area that Royal Group paid to acquire Ming Arcade less than a year and a half ago. It is also about 35 percent more than the S$2,769 per square foot which Pacific Eagle Real Estate, a company owned by the family of Indonesian lumber tycoon Sukanto Tanoto, paid to acquire the Tanglin Shopping Centre on Tanglin Road in February 2022, with that project within 10 minutes’ walk of Delfi Orchard.

The Singapore government has been encouraging developers to knock down aging buildings along the Orchard Road strip, with the Urban Redevelopment Authority in 2020 having announced a master plan to rejuvenate the area into a “green Oasis in the city,” which investors expect to boost property values.

Despite that encouragement, Bright Ruby Resources, an investment firm backed by Chinese billionaire Du Shuanghua, earlier this month backed out of a S$908 million deal to buy the Far East Shopping Centre, located one block down Orchard Road from Delfi Orchard, when it failed to win approval for incentives which would have allowed it to supersize the property.

CDL Tunes Portfolio

With CDL holding the largest chunk of Delfi Orchard, the collective sale could present an opportunity for the developer to build a new project in one of Singapore’s swankiest locations. CDL had not responded to inquiries from Mingtiandi regarding the tender by the time of publication.

The company chaired by billionaire Kwek Leng Beng in February opened The Singapore Edition, a S$680 per night hotel which it redeveloped on the site of the former Boulevard Hotel, following a design by architect Moshe Safdie, who planned the Changi Jewel.

The hotel is part of a CDL project which also includes the Boulevard 88 super-luxury condo project where the company has now sold more than 90 percent of the units for an average of  S$3,814 per square foot. A few doors down the retail strip from Delfi Orchard is CDL’s Palais Renaissance, an upscale retail and office property.

At its results briefing in February of this year, CDL said it aims to divest S$1 billion in assets this year, with Savills and Edmund Tie last week commencing marketing for a portfolio of 47 strata-titled commercial lots in two assets in the Bras Basah area, including CDL’s remaining 27 strata lots in Fortune Centre at the junction of Middle Road and Bencoolen Street – four retail and 23 office units – for S$63.6 million.

The agents were also assigned to look for a buyer for 20 strata office lots CDL holds in Sunshine Plaza on Bencoolen Street at an aggregate asking price of S$32 million.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : MingTiandi – https://www.mingtiandi.com/real-estate/projects/cdl-leads-collective-sale-tender-of-singapores-delfi-orchard/

Tags: buildingCDL-Dominatedtechnology
Previous Post

China Vanke Said in Talks to Sell 21% Stake in GLP to State-Backed Investors

Next Post

‘Avengers’ Star Josh Brolin Buys a Fantastic Farmhouse in Montecito for $7.1M

Ashley Jensen joins Superior Clinic to practice family medicine – Essentia Health

Ashley Jensen Joins Superior Clinic to Bring Expert Family Medicine Care

June 27, 2025
Heads of state and political leaders gather at ‘Summer Davos’. Here’s what they are saying – The World Economic Forum

Heads of state and political leaders gather at ‘Summer Davos’. Here’s what they are saying – The World Economic Forum

June 27, 2025
St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

June 27, 2025
NBA Draft 2025: Did the Hornets reach for Kon Knueppel? And why the Spurs did the right thing with Dylan Harper – Yahoo Sports

NBA Draft 2025: Did the Hornets Overreach for Kon Knueppel? Why the Spurs’ Pick of Dylan Harper Was a Brilliant Move

June 27, 2025
Fossil evidence of proboscidean frugivory and its lasting impact on South American ecosystems – Nature

Fossil evidence of proboscidean frugivory and its lasting impact on South American ecosystems – Nature

June 27, 2025
Distrust in public-health institutions is not just an American problem – The Economist

Distrust in public-health institutions is not just an American problem – The Economist

June 27, 2025
Cuts to federal science spending will cost every American – University of California

Cuts to federal science spending will cost every American – University of California

June 27, 2025
CCTA Bests CV Risk Scores for Bolstering Lifestyle Changes, Medication Uptake – TCTMD.com

CCTA Bests CV Risk Scores for Bolstering Lifestyle Changes, Medication Uptake – TCTMD.com

June 27, 2025
TIFF announces first wave of World Premieres! – TIFF – Toronto International Film Festival

TIFF announces first wave of World Premieres! – TIFF – Toronto International Film Festival

June 27, 2025
With no end to war in sight, Ukraine’s economy teeters on the edge – The Washington Post

Ukraine’s Economy on the Edge as Conflict Shows No End in Sight

June 27, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (699)
  • Economy (719)
  • Entertainment (21,613)
  • General (15,588)
  • Health (9,759)
  • Lifestyle (724)
  • News (22,149)
  • People (721)
  • Politics (727)
  • Science (15,937)
  • Sports (21,216)
  • Technology (15,704)
  • World (699)

Recent News

Ashley Jensen joins Superior Clinic to practice family medicine – Essentia Health

Ashley Jensen Joins Superior Clinic to Bring Expert Family Medicine Care

June 27, 2025
Heads of state and political leaders gather at ‘Summer Davos’. Here’s what they are saying – The World Economic Forum

Heads of state and political leaders gather at ‘Summer Davos’. Here’s what they are saying – The World Economic Forum

June 27, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version