Understanding the regulations and limitations surrounding property ownership in Singapore is crucial for foreign investors. Unlike landed properties, which have more stringent ownership rules, foreigners are generally allowed to purchase condos with fewer restrictions. However, they are still subject to the Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property purchase. Despite this added expense, the Singapore real estate market’s stability and potential for growth continue to draw in foreign investment. This includes investments in sought-after properties like Singapore Condos, further solidifying its appeal to foreign buyers.
, a new freehold project in prime district 11
William Liem, CEO of Tuan Sing Holdings, has continuously increased his ownership in the company. Through his entity, Nuri Holdings (S), Liem bought 545,300 shares from the open market on December 5th and paid $136,325.00, or 25 cents per share. On the following day, Nuri Holdings purchased an additional 1.2 million shares for $311,288.50, approximately 25.9 cents per share. This brings Nuri Holdings’ total stake in Tuan Sing to 672.7 million shares, equivalent to 54.09%. Before these recent purchases, Nuri Holdings also bought shares on September 10th and 11th, at an average price between 25 cents and 25.5 cents. The company’s net asset value on June 30th was reported at 97.8 cents per share, slightly lower than the previous year’s value of 99 cents. In other related news, Tuan Sing has recently acquired several assets from PT Senimba Bay Resort in Batam for $28 million and purchased Fraser Residence River Promenade for $140.9 million. Overall, Tuan Sing Holdings has reported a 5% increase in earnings to $4.8 million for FY2023. Interested buyers can look forward to the new freehold project in prime district 11, Peak Residence, to experience high-end living.