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Leeds
21-08-12, 12:44
FEO which acquired Amber Glades en bloc last year has done renovation to the 63 unit apartments and currently putting the whole estate for rental.

Is this a sign of price peaking and FEO prefers to collect rental than redevelop the site? Will rental be under pressure in Katong area?
eng81157
21-08-12, 13:30
FEO which acquired Amber Glades en bloc last year has done renovation to the 63 unit apartments and currently putting the whole estate for rental.

Is this a sign of price peaking and FEO prefers to collect rental than redevelop the site? Will rental be under pressure in Katong area?

waiting for a better time to re-develop it. we can read it either way. on the positive side, can be sure that whatever the new launch is, it's gonna be way higher than the current price ceiling.
Leeds
21-08-12, 14:27
I recalled similar situations when developers rent out their en bloc units instead of redeveloping the sites because they bought the land on the high with the market not supporting their expected selling prices. This happen when market is peaking or market is experiencing correction.

Is FEO waiting for the next cycle when we are still at the peak of the current cycle? Is the market going to correct soon?
DC33_2008
21-08-12, 14:31
5-year redevelopment rule does not apply to enbloc development?
FEO which acquired Amber Glades en bloc last year has done renovation to the 63 unit apartments and currently putting the whole estate for rental.

Is this a sign of price peaking and FEO prefers to collect rental than redevelop the site? Will rental be under pressure in Katong area?
Leeds
21-08-12, 14:40
5-year redevelopment rule does not apply to enbloc development?

FEO acquired the site before the 5-yr rule.
hyenergix
21-08-12, 14:41
In addition to the points discussed, it is also likely FEO wants to wait for the announcement and construction of the new MRT line for the area to realise its full potential.
felicia_sg
21-08-12, 14:57
Think they believe can launch & sell at better price 2-3 years down the road, so why launch at current lower price now when they can collect good rentals now without launching?


I recalled similar situations when developers rent out their en bloc units instead of redeveloping the sites because they bought the land on the high with the market not supporting their expected selling prices. This happen when market is peaking or market is experiencing correction.

Is FEO waiting for the next cycle when we are still at the peak of the current cycle? Is the market going to correct soon?
pinkpolkadot
21-08-12, 15:13
Think they believe can launch & sell at better price 2-3 years down the road, so why launch at current lower price now when they can collect good rentals now without launching?

So they expect price to go up up up?
DC33_2008
21-08-12, 15:29
Not good for condos for rent in that area. More competition.
NdB
21-08-12, 18:52
FEO which acquired Amber Glades en bloc last year has done renovation to the 63 unit apartments and currently putting the whole estate for rental.

Is this a sign of price peaking and FEO prefers to collect rental than redevelop the site? Will rental be under pressure in Katong area?

It seems that they are doing the same with Amber Towers.
Laguna
21-08-12, 19:35
I spoke to a very senior executive at FEO
They will be holding all the FH land at Amber area, including the two pieces of land next to East Village hotel.
They have the holding power and very positive with the land in this area, and waiting for the ERL
Leeds
21-08-12, 22:18
It seems that they are doing the same with Amber Towers.

Amber Towers was bought by a Chinese developer. Doubt they have any incentive to hold on to the land unlike FEO.

Current prices at Amber area is difficult to support the redevelopment of the site they acquired last year. Prices appear to have peaked. Leasing seems to make more sense than redevelopment.
Allthepies
21-08-12, 22:43
5-year redevelopment rule does not apply to enbloc development?

Only apply to company with foreign shareholders? FE is pure local.
reuters
22-08-12, 00:18
This is very interesting indeed.
minority
22-08-12, 10:17
coz they are waiting for ERL. by then 2000psf will be the launch price.!
carbuncle
22-08-12, 10:29
I spoke to a very senior executive at FEO
They will be holding all the FH land at Amber area, including the two pieces of land next to East Village hotel.
They have the holding power and very positive with the land in this area, and waiting for the ERL

Finally Far EAST is putting the money where their mouth is - The EAST. LOL.
Laguna
22-08-12, 11:01
Finally Far EAST is putting the money where their mouth is - The EAST. LOL.

In fact, they are the biggest developer in the East since 4 years ago
carbuncle
22-08-12, 11:08
In fact, they are the biggest developer in the East since 4 years ago

:not-worthy: :not-worthy: :not-worthy: :not-worthy: :not-worthy:
august
22-08-12, 13:20
they also bought over some stretch of landed pty near changi