The Peak @ Balmeg Singapore District 05

The Peak @ Balmeg (formerly known under the name of Balmeg Court)

Location : 5/ 7/ 9/ 11/ 15/ 17 Balmeg Hill (Former Balmeg Court Site - Beside Haw Par Villa)
Tenure : Freehold
District: 05
Description : 9 Blocks of 5-storey Condominium with Attic, Basement Carpark, Swimming Pool & Communal Facilities
Expected Completion : 2012
Total Units : 180
Unit Types: 2 bdrm / 3bdrm / 4 bdrm / 5 bedrm attic penthouse
Site Area = 17,107.3 sqm / 184,143 sqft
Plot Ratio = 1.4

Unit Mix
2BR with PES (108 - 117 sqm) : 6 units
2BR (92 sqm) : 18 units
3BR with PES (152 – 160 sqm) : 25 units
3BR (140 sqm) : 75 units
4BR with PES (180 – 184 sqm) : 5 units
4 BR ( 163sm) : 15 units

3 BR with Attic (177sm) : 6 units
5 BR with Attic (227 - 279 sqm) : 30 units

Facilities

Swimming Pool, Pavillion/ Spa Seat, Children Pool, Reflective Pond, Planting Terrace, Water Feature, Grass Terrace, Garden Walk, Tennis Court , Children Playground

The Peak @ Balmeg (formerly known under the name of Balmeg Court ) is located in a sector consisting mainly of unloaded properties, urban houses and apartments relatively low on the west coast of Singapore. The site is favorably located on the hill of Balmeg in addition to road of Pasir Panjang, and is characterized by an exclusive and quiet arrangement with sights of sea even of the level of the ground.

The sector is popular with two people of the country and expatriates because it is well-known for several restaurants and stores of shop, as well as food centers. It is also close to the centers of the study, including the national university of Singapore and of the national institute of control of the Community. The historical park of Kent Ridge is added to the greenery and the environment of the place.

The site is easily accessible via the road from west coast and YES. Moreover, the underground new line of circle of MRT will function by the sector and one provides it that the station suggested of west coast will be located in the jet of a stone at the site. With more than 183.900 square feet, this site of free perpetual land and buildings slated for the rebuilding in roughly 200 units in a condominium of 5 stages.

~EXCELLENT LOCATION~
- Proximity to Nature Reserve Park (e.g. Kent Ridge Park, Labrador Park & Telok Blangah Hill Park)
- Just Merely a Few Minutes of Walking Distance to Future Circle Line MRT station (West Coast Station)
- Minutes drive to CBD & Future Business Financial Centre
- Minutes drive to Sentosa and Future Resorts World
- Close Proximity to NUS, Singapore Polytechnic and other reputable schools

Buy, Sell, Rent,invest, In Singapore

MINDY YONG

( +65 ) 91002985

mindy@mindyyong.com ( email me )

Singapore Private home buyers cautiously optimistic about Singapore’s property sector

Singapore Private home buyers cautiously optimistic about Singapore’s property sector

By Wong Siew Ying,

SINGAPORE: Early estimates show prices of private residential properties fell for the first time in four years in the third quarter. Concerns are that times ahead may be rough.

Still, about one-third of MCL Land’s latest mid-range condominium project - The Peak@Balmeg - was snapped up over the last two days during its private launch.

Among the visitors at the launch were Panneer Selvi and her family, who have been shopping for their ideal home.

Over the last four months, they have visited 12 condominium projects, comparing prices, features and home loan packages.

Panneer Selvi said: “We have not made up our mind to buy one, we are checking with the bankers, at the same time looking around for a suitable unit.”

Some visitors said they are not overly concerned with negative market sentiments. And with prices of private apartments expected to fall over the next six months, they hope to cash in on a good deal.

Michael Tan, a potential home buyer, said: “I am not plunging into it. Sometimes buying a home, if it’s for a home, then there are other considerations other than just pricing alone.”

Ronald Wee, a property investor, said: “I do not foresee a slump like in 2003 or 2004. It’s just that if you have a good piece of property with a good location and nice view, I guess mid- to long-term is still very promising, especially the IR (integrated resort) is coming up next one to two years.”

Wee Hian Woon, a potential home buyer, said: “The market condition is so bad, the financial market is in the news all the time, the general sentiments I think are quite weak, so the feeling is that prices are likely to drop, then go up.”

MCL Land said it has yet to decide whether the project will be launched for public sales. The 180-unit project, going for S$1,000 per-square-foot, will be completed in 2011.

Overall, many home hunters are still confident that Singapore will be able to weather the financial crisis and economic slowdown in the US because the country has strong fundamentals in place.

- CNA/ir

Source : Channel NewsAsia - 05 Oct 2008

Singapore Property - Buy, Sell, Rent, Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com ( email me )

JTC completes S$20m state-of-the-art theatre in Fusionopolis

JTC completes S$20m state-of-the-art theatre in Fusionopolis

By Valarie Tan,

SINGAPORE: Beijing has “The Bird’s Nest”. Singapore’s Esplanade is sometimes referred to as “The Durians”. Now, meet “The Egg” - Singapore’s new S$20m venue for arts performances.

The oval-shaped Genexis Theatre is sandwiched between two office buildings at Fusionopolis at one-north, an upcoming R&D hub in Singapore. It is the first theatre built by JTC, Singapore’s largest industrial landlord.

JTC’s Assistant CEO, Philip Su, said: “They (the tenants) wanted a space for them to launch their products, they wanted a space for them to hold specific conferences.

“And because of the proximity to all these scientists, engineers, media people, we wanted to position this theatre together with the common area here to be a science-based, arts-based location. So now, you can have a science festival here and an arts festival here.”

JTC had initially planned to build an auditorium, but decided to double their budget and go for an experimental theatre instead, since there is a demand for it.

Mr Su said: “Most of the performing arts centres, venues, they’re very much restricted to a fixed configuration. And those that are not fixed, whether it’s the Arts House or the Substation, you find that the numbers for the audience are not big enough.

“Here we want to marry both, the intimacy of a good performance with the closeness to the artists, and yet in the same breath be able to seat more people 50-70 cm away from the performances.”

Research for the theatre started in 2005. Surveys were done with several arts groups and venues in Singapore, including The Esplanade, which said that an experimental theatre like Genexis would add value to the local performing arts scene.

The theatre’s unique features include 560 adjustable seats which can be moved in any direction, or kept, depending on the event; 400,000 timber beads which line the curved walls as acoustic padding; and a cargo lift just behind the curtains so trucks can load up props minutes before a performance.

The Genexis also has a wired lighting grid, possibly the first built for a theatre in Singapore. Technicians can actually walk on it in any direction to reach and adjust the over 30 lights in the house.

Ahead of its launch on October 17 with Fusionopolis, Genexis has already been booked for a week-long science festival and a Christmas performance.

- CNA/ir

Source : Channel NewsAsia - 05 Oct 2008

Singapore Property - Buy, Sell, Rent, Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com ( email me )

Bailout Bill passed but outlook remains bleak - New York

Bailout Bill passed but outlook remains bleak - New York

Some say US govt’s action comes too late and it is unclear if plan will restore confidence

New York - The United States government may have enacted a landmark US$700 billion (S$1 trillion) bank bailout, but jittery investors remain doubtful if it is able to contain a panic that began on Wall Street and spread to become a global financial crisis.
‘This probably comes a bit too late. If this had been done earlier, it probably would have had a much bigger impact in restoring confidence,’ said economist Anna Piretti, at BNP Paribas, of the plan passed by the US House of Representatives last Friday (early yesterday morning, Singapore time).

Stocks, which had been higher before the vote, dropped, with the S&P 500 index closing at its lowest level in almost four years. The Dow declined 157.47 points, or 1.5 per cent, to 10,325.38. The dollar was also in retreat.

Signs of a looming recession continue to spook investors,and analysts cautioned that it was still unclear whether the US bailout plan would work as advertised.

US Treasury Secretary Henry Paulson said he would move quickly to buy up distressed assets from banks. But Mr David Kelly, chief market strategist of JPMorgan Asset Management, said: ‘There are more questions than answers out there still. Even if the banks do participate, how willing will they be to make new loans into the economy if they can get rid of the bad ones?’

In signs of the spreading crisis, the state of California said it was running out of money, France said the world stood on the ‘edge of the abyss’, and European leaders were split yesterday as they headed for a summit to seek a collective response to the banking sector’s difficulties.

A collapse in the US housing market and resulting bad mortgages have shattered confidence in the financial sector, with banks across the US and Europe needing support from governments or outside investors.

Interbank lending and credit to businesses and private individuals have all but seized up.

A Labour Department report last Friday that the US economy lost 159,000 jobs last month added to the gloom. Some economists are predicting the US economy will contract in the months ahead. Those developments did not bode well for the corporate earnings that investors watch closely, creating a dour outlook.

‘Investors still have to face some significant challenges in the broad economy that can’t be magically removed by a group of our congressional leaders,’ said Bessemer Trust’s chief investment officer Marc Stern.

Analysts said it might take several days before the effect of the Bill’s approval could be seen on the credit markets.

On Friday afternoon, the signals were mixed: High-yield bonds eased slightly but Treasury bills moved against expectations, becoming more expensive as investors remained nervous about emerging from the safety of government notes.

It was too soon to tell whether interest rates that banks charge one another for overnight loans - a crucial measure of the flow of credit to businesses and consumers - would fall.

Said market strategist Douglas Peta of the bailout plan: ‘Credit is the lifeblood of the economy. Until the short-term funding markets start behaving regularly, and until banks are willing to play their role in the system, the direction in stocks is going to be down.’

New York Times, Reuters

Source : Straits Times - 05 Oct 2008

Singapore Property - Buy, Sell, Rent, Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com ( email me )