Business Times - 23 Mar 2010
BCA promotes sustainable construction with new fund
Industry encouraged to develop expertise in recycling of waste from demolition
By GLENN CHEE
THE Building and Construction Authority (BCA) announced a new $15 million Sustainable Construction Capability Development Fund during the opening ceremony of Samwoh's Eco-Green Park.
The fund is part of the effort to encourage industry players to adopt Sustainable Construction (SC) practices and technologies, and eventually steer the industry towards self-sustenance in the demand and supply of SC materials in Singapore.
'Depletion of natural resources in the long run will very likely lead to higher material prices. We must take pro-active steps now to enhance the resilience in the supply of our construction materials.' said Grace Fu, Senior Minister of State for National Development (MND) and Education, after announcing the new fund.
Developing capabilities in recycling waste materials from demolition of buildings and in the use of recycled materials for construction will be the focus of the SC fund.
The BCA hopes that the fund, which will support training, promotion and education programmes within the industry, and more extensive test-bedding of SC technologies and materials, will lead to industry players integrating SC into designs, building processes and business operations.
The fund will also be used to support an expected increase in demand for SC materials.
Adoption and upgrading of new technologies among demolition contractors, recyclers and ready-mix concrete suppliers, to adapt to the SC materials, will also be supported by the SC fund.
Ms Fu highlighted MND Research Fund for the Built Environment, used to fund Samwoh's newly opened Eco-Green Park, as an example of a project that would qualify for the new SC fund.
Samwoh's Eco-Green Park is hailed as the first building in Singapore to use recycled concrete aggregates (RCA) in its structural concrete elements.
The three-storey building cost $4 million to construct, and the flooring of the top storey is composed entirely of RCA.
Samwoh continues to test and develop new construction materials recycled from waste arising from the demolition of buildings and roads.
When asked if the fund would grow in the future, Ms Fu stated that this was just the beginning and SC was an area that would see long term attention.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Tuesday, March 23, 2010
BT : At least three project launches seen this week
Business Times - 23 Mar 2010
At least three project launches seen this week
DEVELOPERS continue to roll out new residential projects. TID Pte Ltd - a joint venture between Hong Leong Group Singapore and Japan's Mitsui Fudosan - is expected to preview the 65-unit Nathan Suites at Nathan Road, opposite the Malaysian High Commission, within the next two weeks.
The 24-storey freehold development is expected to be priced at about $2,100 per square foot on average. The units, which comprise two, three and four-bedroom apartments as well as penthouses, range from about 915 sq ft to 4,800 sq ft.
This week, potential home buyers can look forward to at least three new project releases. All three have 99-year leasehold tenure. Two of them are on Sentosa Cove - Ho Bee's and IOI's Seascape, and City Developments Ltd (CDL)'s The Residences at W Singapore Sentosa Cove.
The third, which is in the Central Business District - is 76 Shenton by Hong Leong Holdings. The 39-storey development is expected to be priced around $2,000 psf on average.
The 202-unit condo comprises one and two-bedroom units. Response to this project will be seen as a gauge of whether demand for smallish units - often sought by speculators - has been affected by the recent introduction of seller's stamp duty for residential properties bought and sold within a year.
Over in Sentosa Cove, Ho Bee and IOI are expected to release an initial 40 units at the 151-unit Seascape at a private preview for VVIPs later this week. Prices are expected to start from about $2,700 psf, BT understands.
The eight-storey development, which also has an attic, is expected to be completed either late this year or early next year. Seascape comprises three- and four-bedroom units. There are no smaller units.
Rival CDL's 228-unit condo, The Residences at W, has two-, three- and four-bedroom units. Two bedders start from 1,227 sq ft, three bedders from 1,625 sq ft and four bedders from 2,067 sq ft.
The six-storey project, which also has an attic level, faces the waterway. It is expected to be completed before year end. CDL is expected to announce its pricing later this week.
Last month, Real Estate Developers' Association of Singapore (Redas) president Simon Cheong said developers will be bringing forward their property launches over the next few months to satisfy strong demand from homebuyers.
'Redas's members are committed to fast track supply to satisfy demand to minimise excessive speculation in the property market,' said Mr Cheong. 'Hopefully when demand is satisfied, there will be less pressure for future anti-speculative measures.'
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Nathan Suites: TID Pte Ltd is expected to preview the 65-unit freehold project at Nathan Road within the next two weeks
At least three project launches seen this week
DEVELOPERS continue to roll out new residential projects. TID Pte Ltd - a joint venture between Hong Leong Group Singapore and Japan's Mitsui Fudosan - is expected to preview the 65-unit Nathan Suites at Nathan Road, opposite the Malaysian High Commission, within the next two weeks.
The 24-storey freehold development is expected to be priced at about $2,100 per square foot on average. The units, which comprise two, three and four-bedroom apartments as well as penthouses, range from about 915 sq ft to 4,800 sq ft.
This week, potential home buyers can look forward to at least three new project releases. All three have 99-year leasehold tenure. Two of them are on Sentosa Cove - Ho Bee's and IOI's Seascape, and City Developments Ltd (CDL)'s The Residences at W Singapore Sentosa Cove.
The third, which is in the Central Business District - is 76 Shenton by Hong Leong Holdings. The 39-storey development is expected to be priced around $2,000 psf on average.
The 202-unit condo comprises one and two-bedroom units. Response to this project will be seen as a gauge of whether demand for smallish units - often sought by speculators - has been affected by the recent introduction of seller's stamp duty for residential properties bought and sold within a year.
Over in Sentosa Cove, Ho Bee and IOI are expected to release an initial 40 units at the 151-unit Seascape at a private preview for VVIPs later this week. Prices are expected to start from about $2,700 psf, BT understands.
The eight-storey development, which also has an attic, is expected to be completed either late this year or early next year. Seascape comprises three- and four-bedroom units. There are no smaller units.
Rival CDL's 228-unit condo, The Residences at W, has two-, three- and four-bedroom units. Two bedders start from 1,227 sq ft, three bedders from 1,625 sq ft and four bedders from 2,067 sq ft.
The six-storey project, which also has an attic level, faces the waterway. It is expected to be completed before year end. CDL is expected to announce its pricing later this week.
Last month, Real Estate Developers' Association of Singapore (Redas) president Simon Cheong said developers will be bringing forward their property launches over the next few months to satisfy strong demand from homebuyers.
'Redas's members are committed to fast track supply to satisfy demand to minimise excessive speculation in the property market,' said Mr Cheong. 'Hopefully when demand is satisfied, there will be less pressure for future anti-speculative measures.'
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Nathan Suites: TID Pte Ltd is expected to preview the 65-unit freehold project at Nathan Road within the next two weeks
BT : Retail rents stay steady across island
Business Times - 23 Mar 2010
Retail rents stay steady across island
By UMA SHANKARI
RETAIL rents in the prime Orchard and Scotts roads belt, other city areas and the suburbs were all unchanged in the first quarter of this year, according to DTZ Research.
They are still down as much as 10 per cent in some areas from their Q3 2008 peaks, but have now stabilised across the island, DTZ's data show.
In Q1, the gross rent for prime first and upper-storey retail space in the Orchard and Scotts belt remained at $39.70 per sq ft per month (psf pm) and $20.50 psf pm respectively.
DTZ says the market managed to absorb new supply - from the opening of Ion Orchard and 313@somerset - that came on stream in 2009 and in Q1 this year.
First-storey rents in the Orchard and Scotts belt are down about 6 per cent from the peak at Q3 2008.
Rents in 'other city areas' took an even bigger hit during the economic slowdown, falling about 10 per cent from Q3 2008.
But the slide has stopped after five consecutive quarters of decline. Prime first and upper-storey retail space in these areas remained at $24.40 and $14.00 psf pm in Q1 2010.
Rents in suburban areas, which fell only marginally during the downturn, also held firm during Q1 - at $33.50 and $22.80 for first and upper-storey space respectively.
According to Chua Chor Hoon, head of DTZ's South-east Asia research team, the retail industry has been boosted by more tourist arrivals and rising consumer confidence this quarter.
'As tourist arrivals are expected to grow and local consumption improves, demand for retail space is likely to increase,' Ms Chua says. 'On the back of a brighter outlook for the retail industry, prime retail rents are expected to rise moderately.'
DTZ expects some 2.3 million sq ft of new retail space to be added this year, 15 per cent lower than the 2.7 million sq ft added in 2009.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Retail rents stay steady across island
By UMA SHANKARI
RETAIL rents in the prime Orchard and Scotts roads belt, other city areas and the suburbs were all unchanged in the first quarter of this year, according to DTZ Research.
They are still down as much as 10 per cent in some areas from their Q3 2008 peaks, but have now stabilised across the island, DTZ's data show.
In Q1, the gross rent for prime first and upper-storey retail space in the Orchard and Scotts belt remained at $39.70 per sq ft per month (psf pm) and $20.50 psf pm respectively.
DTZ says the market managed to absorb new supply - from the opening of Ion Orchard and 313@somerset - that came on stream in 2009 and in Q1 this year.
First-storey rents in the Orchard and Scotts belt are down about 6 per cent from the peak at Q3 2008.
Rents in 'other city areas' took an even bigger hit during the economic slowdown, falling about 10 per cent from Q3 2008.
But the slide has stopped after five consecutive quarters of decline. Prime first and upper-storey retail space in these areas remained at $24.40 and $14.00 psf pm in Q1 2010.
Rents in suburban areas, which fell only marginally during the downturn, also held firm during Q1 - at $33.50 and $22.80 for first and upper-storey space respectively.
According to Chua Chor Hoon, head of DTZ's South-east Asia research team, the retail industry has been boosted by more tourist arrivals and rising consumer confidence this quarter.
'As tourist arrivals are expected to grow and local consumption improves, demand for retail space is likely to increase,' Ms Chua says. 'On the back of a brighter outlook for the retail industry, prime retail rents are expected to rise moderately.'
DTZ expects some 2.3 million sq ft of new retail space to be added this year, 15 per cent lower than the 2.7 million sq ft added in 2009.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
ST : $15m boost for green building practices
Mar 23, 2010
$15m boost for green building practices
Firms can tap new fund to introduce and upgrade recycled building products
By Tan Hui Yee
THE building industry got a leg up in its recycling efforts yesterday with the launch of a $15 million fund to help companies adopt more sustainable processes.
Demolition contractors, recyclers and ready-mixed concrete suppliers can now tap the Sustainable Construction Capability Development Fund to introduce and upgrade their recycled building products, said Senior Minister of State for National Development Grace Fu.
If need be, the Government may look into topping up the fund in the future, she said, speaking at the opening of a recycling technology project by local company Samwoh Corporation.
The Building and Construction Authority plans to increase demand for recycled materials by requiring building owners aiming for the top grades of its environmentally friendly building programme to adopt sustainable construction methods.
Currently, those aiming for the 'Goldplus' and 'Platinum' standards under its Green Mark scheme can opt out of these measures by beefing up other areas such as greenery and accessibility to public transport. But the changes make mandatory a prescribed minimum level of effort in this regard.
To give users more confidence in the reliability of recycled concrete, the Government will also, from October, require all ready-mixed concrete makers for the Singapore market to be certified according to new standards.
Ms Fu said the industry has 'a long way to go' in adopting more sustainable processes. 'We need both the regulators as well as industry players, both the suppliers as well as developers and constructers, to come together,' she added.
Singapore imports almost all of its construction materials like granite aggregate and sand, which are major components of concrete. Recent supply disruptions, rising material costs and shrinking landfill space have made the task of recycling demolition and construction waste urgent.
The National Environment Agency said 98 per cent of construction and demolition waste was recycled last year. The problem is that materials like recycled aggregate tend to line the bottom of roads or be cast into road kerbs rather than used back in buildings.
The president of the Ready Mixed Concrete Association and chief executive of Holcim Singapore, Dr Sujit Ghosh, said the $15 million fund could come in handy to pay for the extra monitoring of building projects that use the 'green' concrete his company produces.
This will help reassure building owners and consultants that they are not taking unnecessary risks with such new building materials. Most, he said, still stick to fresh materials as they will not have to calculate various specifications from scratch.
'People are looking at the short-term monetary benefits. Recycled concrete is not necessarily significantly cheaper,' he added.
Samwoh's Eco-Green Park, which was officially opened yesterday, comprises an asphalt recycling plant, a ready-mixed concrete plant with recycling facilities, as well as the first building in South-east Asia to use fully recycled aggregates - made of granite - for one entire level.
The Ministry of Education is considering using recycled concrete in the structures of its upcoming schools.
Separately, the Land Transport Authority yesterday gave the green light for the use of recycled asphalt in roads.
The move could save up to 140,000 tonnes of raw material for road building each year.
tanhy@sph.com.sg
$15m boost for green building practices
Firms can tap new fund to introduce and upgrade recycled building products
By Tan Hui Yee
THE building industry got a leg up in its recycling efforts yesterday with the launch of a $15 million fund to help companies adopt more sustainable processes.
Demolition contractors, recyclers and ready-mixed concrete suppliers can now tap the Sustainable Construction Capability Development Fund to introduce and upgrade their recycled building products, said Senior Minister of State for National Development Grace Fu.
If need be, the Government may look into topping up the fund in the future, she said, speaking at the opening of a recycling technology project by local company Samwoh Corporation.
The Building and Construction Authority plans to increase demand for recycled materials by requiring building owners aiming for the top grades of its environmentally friendly building programme to adopt sustainable construction methods.
Currently, those aiming for the 'Goldplus' and 'Platinum' standards under its Green Mark scheme can opt out of these measures by beefing up other areas such as greenery and accessibility to public transport. But the changes make mandatory a prescribed minimum level of effort in this regard.
To give users more confidence in the reliability of recycled concrete, the Government will also, from October, require all ready-mixed concrete makers for the Singapore market to be certified according to new standards.
Ms Fu said the industry has 'a long way to go' in adopting more sustainable processes. 'We need both the regulators as well as industry players, both the suppliers as well as developers and constructers, to come together,' she added.
Singapore imports almost all of its construction materials like granite aggregate and sand, which are major components of concrete. Recent supply disruptions, rising material costs and shrinking landfill space have made the task of recycling demolition and construction waste urgent.
The National Environment Agency said 98 per cent of construction and demolition waste was recycled last year. The problem is that materials like recycled aggregate tend to line the bottom of roads or be cast into road kerbs rather than used back in buildings.
The president of the Ready Mixed Concrete Association and chief executive of Holcim Singapore, Dr Sujit Ghosh, said the $15 million fund could come in handy to pay for the extra monitoring of building projects that use the 'green' concrete his company produces.
This will help reassure building owners and consultants that they are not taking unnecessary risks with such new building materials. Most, he said, still stick to fresh materials as they will not have to calculate various specifications from scratch.
'People are looking at the short-term monetary benefits. Recycled concrete is not necessarily significantly cheaper,' he added.
Samwoh's Eco-Green Park, which was officially opened yesterday, comprises an asphalt recycling plant, a ready-mixed concrete plant with recycling facilities, as well as the first building in South-east Asia to use fully recycled aggregates - made of granite - for one entire level.
The Ministry of Education is considering using recycled concrete in the structures of its upcoming schools.
Separately, the Land Transport Authority yesterday gave the green light for the use of recycled asphalt in roads.
The move could save up to 140,000 tonnes of raw material for road building each year.
tanhy@sph.com.sg
CNA : Retail rents expected to rise in second half of 2010
Retail rents expected to rise in second half of 2010
By Millet Enriquez | Posted: 22 March 2010 1215 hrs
SINGAPORE : Retail rents across Singapore were steady for the first quarter of 2010, according to estimates by DTZ Research.
But analysts said retail rents could rise moderately in the second half because of improving economic conditions.
Shoppers and tourists are boosting retail sales, helping rents hold firm in the first quarter.
Gross rentals for prime first-storey space at Orchard and Scotts Road stayed at S$39.70 per square foot per month, while upper-storey retail space went for S$20.50 per square foot a month.
Gross rents of prime first-storey retail space in other city areas remained at S$24.40 per square foot per month, while upper-storey retail space in the same areas fetched rents of S$14.00 per square foot per month.
In the suburban malls, monthly gross rents for first-floor prime space were S$33.50 per square foot and those on the upper floors cost S$22.80 per square foot.
Chua Chor Hoon, Head of Southeast Asia Research, DTZ Debenham Tie Leung, said: "If the economy in Singapore and those around us continue to do well, definitely it will boost consumer confidence even more later on in the year, and that will have an impact on retail sales...So on the whole, the outlook will be more positive. We expect rent to grow moderately this year between 2 to 5 per cent this year."
Despite the rosy outlook, some analysts said landlords are facing resistance on increases in rents.
Tenants may also hold out for lower rents, with new retail space coming up this year.
Three developments with over 1.1 million square feet of net lettable area are expected by the end of this year.
Analysts expect Orchard Road vacancies to rise as tenants move to new malls.
Barring another economic crisis, observers said rising inflation and interest rates could also hurt retailers.
Ms Chua said: "The suburban malls will be more resilient compared to the Orchard Road and city malls. That is because there is a fundamental local catchment around the suburban malls, and the suburban retailers provide more basic goods and services to serve this local catchment."
Leasing demand is also expected to be modest in the coming months, as most retailers completed their relocation and expansion plans last year. - CNA/sc/ms
By Millet Enriquez | Posted: 22 March 2010 1215 hrs
SINGAPORE : Retail rents across Singapore were steady for the first quarter of 2010, according to estimates by DTZ Research.
But analysts said retail rents could rise moderately in the second half because of improving economic conditions.
Shoppers and tourists are boosting retail sales, helping rents hold firm in the first quarter.
Gross rentals for prime first-storey space at Orchard and Scotts Road stayed at S$39.70 per square foot per month, while upper-storey retail space went for S$20.50 per square foot a month.
Gross rents of prime first-storey retail space in other city areas remained at S$24.40 per square foot per month, while upper-storey retail space in the same areas fetched rents of S$14.00 per square foot per month.
In the suburban malls, monthly gross rents for first-floor prime space were S$33.50 per square foot and those on the upper floors cost S$22.80 per square foot.
Chua Chor Hoon, Head of Southeast Asia Research, DTZ Debenham Tie Leung, said: "If the economy in Singapore and those around us continue to do well, definitely it will boost consumer confidence even more later on in the year, and that will have an impact on retail sales...So on the whole, the outlook will be more positive. We expect rent to grow moderately this year between 2 to 5 per cent this year."
Despite the rosy outlook, some analysts said landlords are facing resistance on increases in rents.
Tenants may also hold out for lower rents, with new retail space coming up this year.
Three developments with over 1.1 million square feet of net lettable area are expected by the end of this year.
Analysts expect Orchard Road vacancies to rise as tenants move to new malls.
Barring another economic crisis, observers said rising inflation and interest rates could also hurt retailers.
Ms Chua said: "The suburban malls will be more resilient compared to the Orchard Road and city malls. That is because there is a fundamental local catchment around the suburban malls, and the suburban retailers provide more basic goods and services to serve this local catchment."
Leasing demand is also expected to be modest in the coming months, as most retailers completed their relocation and expansion plans last year. - CNA/sc/ms
CNA : Ellipsiz to sell stake in building at Joo Koon Crescent
Ellipsiz to sell stake in building at Joo Koon Crescent
Posted: 22 March 2010 1905 hrs
SINGAPORE : Engineering and advanced packaging solutions provider Ellipsiz has agreed to sell its interest in a building at 12 Joo Koon Crescent for S$4.4 million.
The firm is expected to book a net gain of S$1.7 million from the sale.
Ellipsiz said the proposed sale will enhance its financial position and increase its working capital.
The property is a factory-cum-office building, whose lease is due to expire in January 2027, with an option to renew for another 29 years.
The building was damaged in a fire in March last year and reinstatement works are still on-going.
The building is valued at around S$4 million.
The sale is estimated to be completed by August this year. - CNA/ms
Posted: 22 March 2010 1905 hrs
SINGAPORE : Engineering and advanced packaging solutions provider Ellipsiz has agreed to sell its interest in a building at 12 Joo Koon Crescent for S$4.4 million.
The firm is expected to book a net gain of S$1.7 million from the sale.
Ellipsiz said the proposed sale will enhance its financial position and increase its working capital.
The property is a factory-cum-office building, whose lease is due to expire in January 2027, with an option to renew for another 29 years.
The building was damaged in a fire in March last year and reinstatement works are still on-going.
The building is valued at around S$4 million.
The sale is estimated to be completed by August this year. - CNA/ms
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