Singapore visitor arrivals rise 5.7% in March
Singapore’s foreign visitor arrivals rose 5.7 per cent in March from a year ago, helped by a jump in tourists from Indonesia, China and Australia, the government said on Thursday. The Southeast Asian city welcomed 908,000 visitors in March, a record high for March, the Singapore Tourism Board said in a statement. The average length … Read more
Mapletree Logistics Trust posts S$21m in Q1 earnings, up 37% on-year
Mapletree Logistics Trust has booked a distributable income of S$21 million for the first quarter, up 37 percent compared to a year ago. Mapletree Logistics will distribute 1.90 Singapore cents per unit for the first quarter, up from 1.48 Singapore cents a year earlier. Net property income rose 45 percent on-year to S$37.4 million, while … Read more
CapitaLand acquires site to build IT park, office complex in India
CapitaLand has acquired a prime 30-acre site to build its first IT park and a grade-A office complex in India. The deal was done through its 49 percent-owned associate LOMA IT Park Developers. The site was purchased at a price of S$79 million from Standard Industries, a company listed on the Bombay Stock Exchange and … Read more
Yongnam, KTC secure S$81.4m contract for Marina Bay Sands IR
Structural steel contractor and engineering solutions provider Yongnam Holdings will form a 70-30 percent joint venture with KTC Civil Engineering and Construction to work on a Marina Bay Sands project. They have secured an S$81.4 million contract for temporary decking, steel waling and excavation works at the South Podium of the Marina Bay Sands integrated … Read more
Ascott Residence Trust posts Q1 distributable income of S$14.2m
Mainboard-listed Ascott Residence Trust (ART) has posted a first quarter distributable income of S$14.2 million, up 76 per cent compared to the same period a year ago. ART said it benefited from higher demand for accommodation from business travellers in the region. It also attributed its strong financial performance in the first quarter to the … Read more
Resorts World completes $4 billion credit syndication
Resorts World at Sentosa (RWS) announced on Thursday that it has completed the syndication of $4 billion credit facilities for its integrated resort development, closing one of the largest loans ever successfully undertaken in Singapore. The borrowings were made at an interest rate of 175 basis points above Singapore Swap Offer Rate. The tenure of … Read more
Australia to give foreign firms more time to develop property
Australia will ease restrictions on land ownership by foreign companies, giving them as long as five years to develop vacant commercial property. The rules will replace the current one-year deadline for foreign companies to commence development, Assistant Treasurer Chris Bowen said in a statement on his website yesterday. The 12-month limit was designed to prevent … Read more
London office market hit by credit crisis fallout
Rents, occupancy rates, sale prices may worsen if crisis continues: Moody’s London’s office market faces ‘imminent stress’ as the fallout from the global credit crisis weakens demand for space in the city’s financial district, Moody’s Investors Service said. Conditions in the City of London deteriorated faster than any other European market last year, Moody’s analysts … Read more
China warns of housing price hikes in second quarter
China’s top economic planning agency has warned that a range of economic factors were likely to push up domestic property prices in the second quarter. Going higher: The NDRC says upward pressure on housing prices is mounting again after a slight slowdown in the first three months of the year The National Development and Reform … Read more
House prices may fall more than during 1930s: economist
An influential economist who long predicted the housing market bubble cautioned on Tuesday that the slump in the US housing market could cause prices to fall more than they did in the Great Depression, and bailouts will be needed so millions don’t lose their homes. Mr Shiller: ‘It seems we have developed a speculative culture … Read more
