* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, September 6, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

    Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com

    Jenny Han Just Unveiled a Huge ‘The Summer I Turned Pretty’ Easter Egg That Changes Everything [SPOILER]

    Liam Payne’s Cousin Ross Harris Honors Late Singer With Emotional Song ‘Bones’ – yahoo.com

    Liam Payne’s Cousin Ross Harris Honors Late Singer with Emotional New Song ‘Bones

    Country music star apologizes after drunken show ends with cops taking him down: ‘I’m not OK’ – PennLive.com

    Country Music Star Apologizes After Drunken Show Ends in Police Intervention: ‘I’m Not OK

    Comanche Nation Entertainment closes casino near Devol – KSWO 7News

    Comanche Nation Entertainment Closes Casino Near Devol in Surprising Move

  • 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
    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

    Monkey Island LNG Picks ConocoPhillips’ Liquefaction Technology – Hart Energy

    Monkey Island LNG Selects ConocoPhillips’ Advanced Liquefaction Technology for Next-Gen Energy Solutions

    Credo Technology Group Holding Ltd. (CRDO) Surpasses Q1 Earnings and Revenue Estimates – Yahoo Finance

    Credo Technology Group Surpasses Q1 Earnings and Revenue Expectations

    The Economist is hiring a science and technology correspondent – The Economist

    Exciting Opportunity: Become Our Next Science and Technology Correspondent!

    Blockchain lender Figure Technology seeks to raise up to $526M in IPO (FIGR:Pending) – Seeking Alpha

    Blockchain Lender Figure Technology Sets Sights on $526M in Thrilling IPO Launch

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

    Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com

    Jenny Han Just Unveiled a Huge ‘The Summer I Turned Pretty’ Easter Egg That Changes Everything [SPOILER]

    Liam Payne’s Cousin Ross Harris Honors Late Singer With Emotional Song ‘Bones’ – yahoo.com

    Liam Payne’s Cousin Ross Harris Honors Late Singer with Emotional New Song ‘Bones

    Country music star apologizes after drunken show ends with cops taking him down: ‘I’m not OK’ – PennLive.com

    Country Music Star Apologizes After Drunken Show Ends in Police Intervention: ‘I’m Not OK

    Comanche Nation Entertainment closes casino near Devol – KSWO 7News

    Comanche Nation Entertainment Closes Casino Near Devol in Surprising Move

  • 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
    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

    Monkey Island LNG Picks ConocoPhillips’ Liquefaction Technology – Hart Energy

    Monkey Island LNG Selects ConocoPhillips’ Advanced Liquefaction Technology for Next-Gen Energy Solutions

    Credo Technology Group Holding Ltd. (CRDO) Surpasses Q1 Earnings and Revenue Estimates – Yahoo Finance

    Credo Technology Group Surpasses Q1 Earnings and Revenue Expectations

    The Economist is hiring a science and technology correspondent – The Economist

    Exciting Opportunity: Become Our Next Science and Technology Correspondent!

    Blockchain lender Figure Technology seeks to raise up to $526M in IPO (FIGR:Pending) – Seeking Alpha

    Blockchain Lender Figure Technology Sets Sights on $526M in Thrilling IPO Launch

    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

Mainland Billionaire’s Bright Ruby Buying Singapore Mall for Reported $667M

October 2, 2023
in Technology
Mainland Billionaire’s Bright Ruby Buying Singapore Mall for Reported $667M
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)

Bright Ruby Resources has won the tender for an en bloc redevelopment site along Singapore’s Orchard Road for a reported S$908 million ($667 million), agreeing to a deal which now becomes the largest collective sale in the city-state so far this year.

After reaching an agreement with the owners of the Far East Shopping Centre commercial complex on the corner of Orchard Road and Angullia Park, the investment firm backed by Chinese billionaire Du Shuanghua now awaits approval from the Strata Titles Board to finalise the sale and redevelop the property, according to market sources who spoke with Mingtiandi on Friday.

If the deal closes at the S$908 million price tag reported by local news site EdgeProp, it will mark the biggest deal this year in a Singapore collective sale market which has been cooled by new levies on residential sales and higher interest rates.

For Bright Ruby, which operates as a personal investment company for one of China’s most controversial billionaires, the deal marks a follow-on from its S$1 billion purchase of the 16 Collyer Quay office tower in Raffles Place from NTUC Income in July of last year.

Redevelopment Perks

Bright Ruby’s winning bid positions it to redevelop the five-decade-old strata-titled asset into a mixed-use project measuring up to 290,574 square feet, should it qualify for bonus floor area granted to commercial buildings in the city-state’s urban core which are rebuilt to incorporate residential space.

Du Shuanghua

Du Shuanghua of Bright Ruby Resources

Michael Tay, head of Singapore capital markets for CBRE, which launched the tender on behalf of the owners in July, said at that time that the buyer can “explore a combination of different land uses such as retail, hotel, office, MICE (meetings, incentive, convention and exhibition) facilities and lifestyle uses.”

The reported price tag, which is about 2 percent below the tender’s reserve price of S$928 million, translates to around S$3,125 per square foot of the maximum buildable area, should the new design qualify for the bonus area available under Singapore’s Strategic Development Incentive (SDI) scheme, which was rolled out in 2019.

Far East Shopping Centre, which occupies a 36,014 square foot (3,346 square metre) 999-year leasehold site on Orchard Road just northwest of Scotts Road is currently home to over 600 stores across its five-storey retail podium and 10 floors of office units.

Orchard Road Revival

To qualify for the SDI program, Bright Ruby will have to engage in a joint redevelopment project with at least one of its neighbors – the Voco Orchard Singapore hotel owned by Ong Beng Seng’s Hotel Properties Ltd (HPL) on one side or Liat Towers owned by SGX-listed Bonvests Holdings on the other.

Singapore’s Urban Redevelopment Authority (URA) requires redevelopments to consist of at least two adjoining plots to qualify for the bonus GFA in order to encourage larger scale projects. HPL last month obtained provisional permission from regulators to redevelop Voco Orchard together with the neighbouring Forum mall and HPL House commercial block.

Bright Ruby will also need approval for any redevelopment proposal from the URA before the five-year SDI program ends in 2024.

The URA also has a scheme under its master plan to rejuvenate Orchard Road, traditionally Singapore’s high-end shopping strip, to create a tree-lined green corridor lined with modern commercial projects blended with residential space.

Far East Organization developed Far East Shopping Centre for just S$20 million in 1974 and still owns at least four retail units in the building. When asked for comment, the firm declined to give a statement while CBRE had not responded to inquiries from Mingtiandi by the time of publication.

Collective Sales Stall

Singapore’s collective sale market has stayed quiet this year, with Aurum Land’s S$66.8 million purchase of the Kew Lodge townhouse complex in District 11 in May standing as the only successful tender in the second quarter.

UOL Group and its Singapore Land Group subsidiary had held the lead in the collective sale stakes until this latest agreement with their S$392.2 million purchase of the Meyer Park condo project on the East Coast in February.

Bright Ruby, which is controlled by Du through six layers of entities, is now based in Singapore after the mining magnate testified in 2010 that he had paid bribes to executives of Australian minerals firm Rio Tinto to help accelerate the growth of his empire.

The private investment firm is said to have paid all cash for its purchase of 16 Collyer Quay in July last year.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : MingTiandi – https://www.mingtiandi.com/real-estate/projects/mainland-billionaires-bright-ruby-buying-singapore-mall-for-667m/

Tags: Billionairesmainlandtechnology
Previous Post

Panel: Life Science and Core Office Investment in APAC

Next Post

WWE NXT No Mercy 2023 Results: Winners, Live Grades, Reaction and Highlights

HHS responds to report about autism and acetaminophen : Shots – Health News – NPR

HHS Addresses New Findings on Autism and Acetaminophen Use

September 6, 2025
September 2, 2025: Trump administration news – CNN

September 2, 2025: Trump administration news – CNN

September 6, 2025
Blending art, culture and native plants at Wakamatsu – Mountain Democrat

Discover the Harmony of Art, Culture, and Native Plants at Wakamatsu

September 6, 2025
The Two-Body Problem for Women in Science – Nautilus | Science Connected

The Two-Body Problem for Women in Science – Nautilus | Science Connected

September 6, 2025
How AI and Automation are Speeding Up Science and Discovery – Berkeley Lab News Center (.gov)

How AI and Automation Are Accelerating Breakthroughs in Scientific Discovery

September 6, 2025

American Trust Investment Services Serves as Exclusive Placement Agent in $9 Million Follow-On Offering for Nova LifeStyle, Inc. – Morningstar

September 6, 2025
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

September 6, 2025
EA SPORTS™ and New York City FC Extend Partnership to Power the Future of Football Fandom in NYC – New York City FC

EA SPORTS™ and New York City FC Join Forces to Transform Football Fandom in NYC

September 6, 2025
News – Ancient DNA Pinpoints Culprit Responsible for World’s First Pandemic – Archaeology Magazine

Ancient DNA Reveals the True Cause of the World’s First Pandemic

September 5, 2025
Fears of US recession as economy adds just 22,000 jobs – The Times

Fears of US recession as economy adds just 22,000 jobs – The Times

September 5, 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 (809)
  • Economy (827)
  • Entertainment (21,704)
  • General (16,881)
  • Health (9,869)
  • Lifestyle (840)
  • News (22,149)
  • People (829)
  • Politics (835)
  • Science (16,038)
  • Sports (21,326)
  • Technology (15,808)
  • World (808)

Recent News

HHS responds to report about autism and acetaminophen : Shots – Health News – NPR

HHS Addresses New Findings on Autism and Acetaminophen Use

September 6, 2025
September 2, 2025: Trump administration news – CNN

September 2, 2025: Trump administration news – CNN

September 6, 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