Here’s our summary of the important residential, commercial and industrial news this week. We hope this helps you to save time catching up on the news!

RESIDENTIAL

Grand Tower at Novena up for sale at $88.8 million

21,742 sq ft Grand Tower located in Novena is up for sale with an asking price of $88.8 million ($1,381 psf ppr). The freehold residential site, which currently houses a 33-year-old tower block with 28 apartments of approximately 1,873 sq ft each, can possibly be redeveloped into a luxurious lifestyle development with permissible GFA of 5,974.64 sq metres (approximately 64,310 sq ft). Savills mentioned that the site can house 74 apartments of 800 sq ft each on average. Judging from the asking price, the project breakeven cost of the site is around $1,900 to $2,000 psf, with no DC payable.

DBSS scheme under review thanks to $880,000 unit at Centrale ...