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Sector/ Economic news
Sector/ Economic news
Subsales carve out bigger slice of home deals. Subsale volumes are down amidst a quieter property market, but a new study by Jones Lang LaSalle shows that in most parts of Singapore, subsales actually rose as a percentage of total private apartment and condo sales in the first five months compared with last year. Driving the trend have been players who bought properties from developers on deferred payment schemes (DPS) but who are seeking to exit the market as projects near completion. In some popular projects such as Icon, Marina Bay Residences, 8 @ Mt Sophia, Park Infinia at Wee Nam, The Grange, One Amber and The Sea View, average subsale prices have slipped between one and 5 per cent in the first five months of 2008 (5M 2008) compared with levels scaled in H2 2007. However, in some projects, prices are still much higher than H1 2007 levels, the study shows. (BT)
Opening up of gas market likely around Aug-Sept. The gas market is now expected to be fully liberalised around August-September. The target had been July, but industry
players say bugs need to be ironed out from the IT system that will operate the free market. PowerGas, which will own and operate the island's pipeline grid, also needs to
finalise compensation with Sembcorp Industries for taking over the latter's on-shore pipeline. The issues need to be ironed out before the Energy Market Authority (EMA),
which regulates the electricity and gas markets here, gives the green light to open up the gas market. Liberalisation of the market - after that of electricity in January 2003 - is
important as gas accounts for more than 80 per cent of electricity-generating feedstock. Competition in the gas market is aimed at helping keep prices down. (BT)
New-concept JTC factory aims to save cost and space. In a move that could
optimise land use and help businesses save on rentals, JTC Corporation has come up
with a new concept for a 'small footprint high plot ratio' standard factory to cater to small
and medium-size enterprises (SMEs). This factory is likely to be three storeys high, and
take up a floor plate of 400 sq m. With a total floor area of 1,200 sq m, the standalone
facility would have a plot ratio of 1.3. In contrast, JTC's standard factories today stand at
two-and-a-half storeys, with a total floor area of between 1,200 and 4,200 sqm. Plot
ratios range from 0.8 to 1.1. Businesses, particularly those in heavier industries, tend to
prefer larger ground floor space for the movement and storage of goods. To address this
need, JTC's concept includes a hoisting system that goes through every floor, to
facilitate the movement of goods. This system replaces the more expensive cargo lifts.
The hoist is 'a practical and more economical option', says Colliers International
managing director Dennis Yeo. 'For the new prototype factory, land rentals will definitely
be lower than that of the existing standard factory in view of its smaller footprint and
therefore smaller land take-up,' says a JTC spokesperson. (BT) |
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