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  • Business
    EdgeProp

    Shophouse sales value up 62% q-o-q in 1Q2024: PropNex Research

    Districts 14 (Geylang, Eunos) showed a 10.5% q-o-q growth in median rents (Picture: Samuel Isaac Chua/EdgeProp Singapore) 1Q2024 saw 21 shophouses change hands, a 31% q-o-q increase from 16 deals the previous quarter. In terms of sales value, the deals translated to $180 million, a 62% q-o-q jump from 4Q2023, according to PropNex Research in a report on April 24.As the caveats for some transactions may not have been lodged, for instance, a handful of shophouse transactions in Districts 1 and 2 i

  • Business
    EdgeProp

    Hines acquires premium office and logistics buildings in Tokyo and Osaka

    In March, Hines' Japan team acquired Osaka Minoo Logistics, about 30 minutes' drive from Central Osaka (Photo: Hines)Global real estate investment manager Hines has acquired a premium office building in Tokyo and a logistics property in greater Osaka, the company announced on April 25.The premium office, "Zenith Minami Shinjuku", is a newly built 14-storey building in Yoyogi, a neighbourhood in Tokyo. The office was acquired off-market by Hines in Japan in December last year.In March, Hines' Jap

  • Business
    EdgeProp

    Roxy-Pacific returns to the east with preview of Straits at Joo Chiat from $2,080 psf

    On May 4, property group Roxy-Pacific Holdings will preview its latest project, the 16-unit Straits at Joo Chiat. The five-storey, Peranakan-themed, boutique condo is the redevelopment of a pair of semi-detached houses at the end of Joo Chiat Place.The amalgamated site has a land area of 13,045 sq ft with a plot ratio of 1.4. Roxy-Pacific paid $16 million or about $900 psf per plot ratio (ppr) for the site. “It’s rare to find a freehold site at this price level,” says Teo Hong Lim, executive cha