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PUBLISHED : Wednesday, 22 June, 2011, 12:00am
UPDATED : Wednesday, 22 June, 2011, 12:00am

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Residential rents tipped to hit new high this year

Rents at 85 housing estates in Hong Kong last month grew 1.5 per cent month on month to HK$19.90 per square foot, according to Centaline Property Agency. The firm said average residential rents had been rising since April 2009 and were expected to surpass the 1997 peak level in the third quarter of this year. The highest average residential rent, of HK$20.40 per square foot, was recorded in September 1997. Peggy Sito

Prime commercial site up for grabs in Singapore

SEB Investment has mandated international property consultant Colliers International with the sale - by expression of interest - of a 35-storey commercial building at 77 Robinson Road in Singapore. Parties interested in the property are invited to submit their offer to Colliers International by 4pm on August 3. Under the Singapore government's 2008 master plan, the site is zoned for commercial use, with an allowable plot ratio of 11.2 times. The office building, which sits on a 32,435 sq ft site, has a total gross floor area of 380,999 sq ft and a net lettable area of 294,895 sq ft. It is currently 92 per cent leased to multinational corporation tenants that include Adidas, Dentsu, Rabobank Group, and Royal & Sun Alliance Insurance. Peggy Sito