ECONOMY | Staff Reporter, Singapore

Daily Briefing: Freehold Balestier up for sale for $16.8m; SG to use noise study in Tengah home planning

And a LinkedIn co-founder joins the Entrepreneur First Board.

From PropertyGuru:

A freehold property at 10A Jalan Ampas in Balestier has been launched for sale at a guide price of $16.8 million, marketing agent Savills Singapore said on Monday (11 September).

Located within an industrial cluster, the approximately 12,070 sq ft site is currently zoned for Business 1 use under the Master Plan 2014 with an allowable gross plot ratio (GPR) of 2.5.

However, subject to the Urban Redevelopment Authority’s approval and payment of development charges, the site could be rezoned as residential with a GPR of 2.8.

Read more here

From PropertyGuru via Yahoo!:

Second Minister for Defence Ong Ye Kung said government agencies – such as the National Environment Agency and Housing and Development Board – are aware of the noise conditions that residents living near the expanded Tengah Air Base will be subjected to, reported Channel NewsAsia.

With this, a noise study will be used as a guide in planning the development of new flats within the surrounding area.

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Entrepreneur First (EF), a London-based startup builder, announced today the completion of a US$12.4 million funding round led by Greylock Partners. As part of the deal, Reid Hoffman, the LinkedIn Co-founder and Partner at Greylock, will join the EF board.

The deal is significant in Singapore because in 2016 EF launched its first cohort and its first batch of startups graduated last March. The company has a fairly large presence in the Singapore startup world.

The other investment firms that participated were Mosaic Ventures, Founders Fund and Lakestar Capital. It also included participation from Demis Hassabis and Mustafa Suleyman, the Founders of the artificial intelligence company Deep Mind.

Read more here.

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