* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, September 9, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Jobs roundup: September 2025 | Blizzard Entertainment appoints Walter Kong SVP of live games/mobile development – GamesIndustry.biz

    Blizzard Entertainment Names Walter Kong as SVP of Live Games and Mobile Development in September 2025 Jobs Update

    Monumental Sports & Entertainment Sets Corporate Direction at Nasdaq – PR Newswire

    Monumental Sports & Entertainment Reveals Bold New Corporate Vision at Nasdaq

    The Secret to What Made ‘CarJack’ Work on As the World Turns – yahoo.com

    The Surprising Secret Behind ‘CarJack’s’ Success on As the World Turns

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

    Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

  • 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
    Tri-Counties Bank marks 50 years of growth with focus on technology and personal service – thebusinessjournal.com

    Tri-Counties Bank Celebrates 50 Years of Growth Driven by Technology and Personal Service

    AI will reshape internet, create jobs in West Virginia says High Technology Foundation’s Estep – WV News

    How AI Is Set to Transform the Internet and Boost Job Growth in West Virginia

    Industry partner provides Ferris State Plastics Engineering Technology students with state-of-the-art equipment to gain in-demand skills – Ferris State University

    Industry Partner Equips Ferris State Plastics Engineering Students with Cutting-Edge Technology to Boost In-Demand Skills

    Health Technology Ecosystem – Centers for Medicare & Medicaid Services | CMS (.gov)

    Discover the Future of Health Technology: Innovations Revolutionizing Patient Care

    Coherent Joins LLNL’s STARFIRE Diode Technology Working Group to Advance Inertial Fusion Energy – GlobeNewswire

    Coherent Partners with LLNL’s STARFIRE Team to Drive Breakthroughs in Inertial Fusion Energy

    Gene Associated With Deadly Heart Disease in Golden Retrievers Identified – Technology Networks

    Breakthrough Discovery Uncovers Gene Behind Deadly Heart Disease in Golden Retrievers

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Jobs roundup: September 2025 | Blizzard Entertainment appoints Walter Kong SVP of live games/mobile development – GamesIndustry.biz

    Blizzard Entertainment Names Walter Kong as SVP of Live Games and Mobile Development in September 2025 Jobs Update

    Monumental Sports & Entertainment Sets Corporate Direction at Nasdaq – PR Newswire

    Monumental Sports & Entertainment Reveals Bold New Corporate Vision at Nasdaq

    The Secret to What Made ‘CarJack’ Work on As the World Turns – yahoo.com

    The Surprising Secret Behind ‘CarJack’s’ Success on As the World Turns

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

    Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

  • 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
    Tri-Counties Bank marks 50 years of growth with focus on technology and personal service – thebusinessjournal.com

    Tri-Counties Bank Celebrates 50 Years of Growth Driven by Technology and Personal Service

    AI will reshape internet, create jobs in West Virginia says High Technology Foundation’s Estep – WV News

    How AI Is Set to Transform the Internet and Boost Job Growth in West Virginia

    Industry partner provides Ferris State Plastics Engineering Technology students with state-of-the-art equipment to gain in-demand skills – Ferris State University

    Industry Partner Equips Ferris State Plastics Engineering Students with Cutting-Edge Technology to Boost In-Demand Skills

    Health Technology Ecosystem – Centers for Medicare & Medicaid Services | CMS (.gov)

    Discover the Future of Health Technology: Innovations Revolutionizing Patient Care

    Coherent Joins LLNL’s STARFIRE Diode Technology Working Group to Advance Inertial Fusion Energy – GlobeNewswire

    Coherent Partners with LLNL’s STARFIRE Team to Drive Breakthroughs in Inertial Fusion Energy

    Gene Associated With Deadly Heart Disease in Golden Retrievers Identified – Technology Networks

    Breakthrough Discovery Uncovers Gene Behind Deadly Heart Disease in Golden Retrievers

    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

Commercial Complex on Singapore’s Orchard Road Up for Collective Sale at $699M

July 28, 2023
in Technology
Commercial Complex on Singapore’s Orchard Road Up for Collective Sale at $699M
Share on FacebookShare on Twitter

Far East Shopping Centre

The mall was built by Far East Organization in the 1970s for just S$20 million. (Source: Far East Organization)

The Far East Shopping Centre along Orchard Road in Singapore has been put up for collective sale at a price of S$928 million ($699 million) in a move that could add to the rejuvenation of the famous shopping belt.

Owners of Far East Shopping Centre assigned CBRE to market the five-decade-old asset on the corner of Orchard Road and Angullia Park, offering investors an opportunity to gamble on building a modern commercial complex on the site of the half-century-old strata development.

“Far East Shopping Centre is the only commercial site currently available along Orchard Road for sale,” said Michael Tay, CBRE’s head of Singapore capital markets. “Developer(s) of the integrated development can also explore a combination of different land uses such as retail, hotel, office, MICE (meetings, incentive, convention and exhibition) facilities and lifestyle uses under the said (SDI) scheme.”

Far East Shopping Centre is home to over 600 stores across a five-storey retail podium, with another 10 floors dedicated to strata-titled office units, according to an announcement on Tuesday. A redevelopment of the site could potentially qualify for a 20 percent expansion of the current building size under Singapore’s Strategic Development Incentive (SDI) scheme which would allow a new wonder to build up to 290,574 square feet (26,995 square metres) on the prime site.

Millennium Lease

Built in 1974, Far East Shopping Centre sits on a 999-year leasehold site spanning 36,014 square feet located at 545 Orchard Road. The indicative price translates to S$3,421 per square foot of buildable area based on the upgraded maximum allowed under the SDI scheme, including payment of a Land Betterment Charge to allow for the upgrade.

Michael Tay CBRE

CBRE’s head of capital markets for Singapore, Michael Tay

Launched in March 2019, the SDI scheme grants developers bonus floor area if they redevelop ageing commercial properties in core urban areas to include some residential space.

The program, however, requires developers to engage in a joint redevelopment project with at least one adjacent site to qualify. Far East Shopping Centre is flanked by the Voco Orchard Singapore hotel owned by Ong Beng Seng’s Hotel Properties Ltd on one side and Liat Towers owned by SGX-listed Bonvests Holdings on the other. Media reports have indicated that Ong Beng Seng, who was recently arrested in relation to a corruption investigation, is currently considering redeveloping the Voco Orchard.

The sale includes an element of urgency as, in order to qualify for the SDI scheme, proposals have to be approved by Singapore’s Urban Redevelopment Authority (URA) before the five-year plan ends next year.

“545 Orchard Road is strategically positioned to be part of the government’s plan and we believe this opportunity will appeal to both local and foreign developers as the incoming buyer has the flexibility to create an iconic mixed-use development in the most prominent street in Singapore,” Tay said.

Prime Spot, Basic Tenants

Built by Far East Organization five decades ago for a total development cost of just S$20 million, Far East Shopping Centre is now home to retailers of clothes, electronics and golf equipment, among other things. Services offered in the centre range from travel agents, money changers, tattoo studios to beauty parlours.

The privately held developer, controlled by the same family as Hong Kong’s Sino Land, still owns and leases at least four retail units in the building with rents hovering around S$5.60 per square foot per month based on data available on the company website at the time of writing.

Far East Organization did not issue a statement regarding the collective sale tender, which is set to close on 20 September.

Orchard En-Bloc Aspirations

Local media reported last month that HPL is proposing to redevelop three adjacent properties it owns at Orchard Road and Cuscaden Road after filing a request to rezone the site of its Voco Orchard hotel.

The Voco Hotel, together with HPL’s Forum mall and HPL House, could be redeveloped into a luxury development project spanning up to 700,000 square feet, or nearly five times the 150,000 square foot GFA of the three existing properties, according to a research note by DBS Group.

In December of last year the owners of the Ming Arcade commercial building on Cuscaden Road succeeded in trading the seven-storey project to Asok Hiranandani’s Royal Group for S$172 million via a collective sale.

However, the owners of the nearby Orchard Towers complex failed to find a buyer for their project in an attempted S$1.6 billion collective sale which closed in February without finding a buyer.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : MingTiandi – https://www.mingtiandi.com/real-estate/projects/commercial-complex-on-singapores-orchard-road-up-for-collective-sale-at-699m/

Tags: Commercialcomplextechnology
Previous Post

Northern Hong Kong Site Trades at 23% Discount and More Asia Real Estate Headlines

Next Post

Brookfield and Digital Realty Welcome Reliance Into India Data Centre JV

Grace for the World: Watch the Live Concert from Vatican City! – Disney Plus

Grace for the World: Watch the Live Concert from Vatican City! – Disney Plus

September 9, 2025
22 Timeless Money Maxims That Hold up in the Current Economy – Money Talks News

22 Timeless Money Maxims That Still Work in Today’s Economy

September 9, 2025
Jobs roundup: September 2025 | Blizzard Entertainment appoints Walter Kong SVP of live games/mobile development – GamesIndustry.biz

Blizzard Entertainment Names Walter Kong as SVP of Live Games and Mobile Development in September 2025 Jobs Update

September 9, 2025
State Health Care Spending Growth Trends Point to Need for Policy Action – Milbank Memorial Fund

Soaring State Health Care Costs Demand Immediate Policy Solutions

September 9, 2025
Fed rate cut optimism lifts stocks, as investors watch politics across continents – Reuters

Fed Rate Cut Hopes Boost Stocks Amid Global Political Watch

September 9, 2025
Pope Leo XIV: Caring for Creation is our vocation – Vatican News

Pope Leo XIV: Caring for Creation is our vocation – Vatican News

September 9, 2025
Ocean Sciences Meeting will convene in Glasgow Scotland, February 2026 – EurekAlert!

Get Ready for the Ocean Sciences Meeting Making Waves in Glasgow This February 2026!

September 9, 2025
The Christian Science Monitor | Grand Juries Usually Approve Indictments. In LA and DC, They’re Pushing Back. – Loyola Marymount University

Grand Juries Typically Approve Indictments-But in LA and DC, They’re Starting to Push Back

September 9, 2025
Lifestyle Communities Finalizes Ocean Grove Land Sale – TipRanks

Lifestyle Communities Finalizes Ocean Grove Land Sale – TipRanks

September 9, 2025
Tri-Counties Bank marks 50 years of growth with focus on technology and personal service – thebusinessjournal.com

Tri-Counties Bank Celebrates 50 Years of Growth Driven by Technology and Personal Service

September 9, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
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 (814)
  • Economy (832)
  • Entertainment (21,709)
  • General (16,937)
  • Health (9,874)
  • Lifestyle (845)
  • News (22,149)
  • People (834)
  • Politics (839)
  • Science (16,041)
  • Sports (21,331)
  • Technology (15,812)
  • World (814)

Recent News

Grace for the World: Watch the Live Concert from Vatican City! – Disney Plus

Grace for the World: Watch the Live Concert from Vatican City! – Disney Plus

September 9, 2025
22 Timeless Money Maxims That Hold up in the Current Economy – Money Talks News

22 Timeless Money Maxims That Still Work in Today’s Economy

September 9, 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