Archive for May 12th, 2008
Posted by luxuryasiahome on May 12, 2008
Another landmark near Orchard Road may soon get a facelift. Channel NewsAsia understands that Shaw Organisation is considering a major redevelopment of Shaw House and its neighbouring Shaw Centre.
According to some sources, an official announcement is expected by August. The news comes even as some tenants have moved out in recent months following a spike in rentals.
Shaw House has been a major landmark near Orchard Road for years – but it may soon take on a different look.
According to sources, plans are in the pipeline to expand Shaw Organisation’s Lido Cineplex, and to add more retail space.
Channel NewsAsia understands that Shaw Organisation is currently in talks with various architects on its redevelopment plans. However, it has not decided if this would include its office and retail spaces in Shaw Centre.
The tenants have not been informed officially, although they have heard word on the grapevine. They declined to be interviewed.
The present Shaw House opened in 1993, and includes anchor tenant Isetan. It adjoins Shaw Centre, which has retail, F&B and office space, as well as a bank.
Retail rentals there have jumped from S$6 a square foot to as much as S$16 a square foot in recent months, and a number of tenants have moved out.
Market watchers said that it is likely the new site may even include new residential spaces.
Nicholas Mak, Director, Consultancy and Research, Knight Frank, said: “I think that if any residential development were to be redeveloped on that site, and if it is priced reasonably, demand would be quite strong.”
But they do not expect the re-development to have a major impact on retail space and shop rentals along Orchard Road.
Mr Mak said, “In about 12 months or so, we’re going to see some new developments coming up on Orchard Road. So, if a major retail mall were to temporarily be taken offline, I think that vacuum could be filled by some of these new malls.”
Channel NewsAsia understands that re-development is likely to start in the second half of next year. – CNA/ms
Source : Channel NewsAsia – 12 May 2008
Posted in General, Office / Retail Space | Tagged: Lido Cineplex, Redevelopment, Shaw Centre, Shaw House, Shaw Organisation, Singapore Retail | Leave a Comment »
Posted by luxuryasiahome on May 12, 2008
Indian developer DLF Ltd will revive and enlarge an initial public offer of its property trust in Singapore because it believes market conditions have improved, two people close to the development said on Monday.
Earlier this year, India’s most valuable property firm had shelved a planned US$1.5 billion IPO for its real estate investment trust (Reit), scheduled for the first three months of 2008, on account of volatile market conditions. At the time, a source had said it might consider a private placement instead.
‘The markets are slightly better than before, so we plan to update the IPO papers in Singapore by month-end or next month,’ one source said.
‘The size will be more than US$2 billion – possibly the same size as the India IPO,’ the first source said.
DLF had raised US$2.25 billion in its IPO last July, which at the time was India’s biggest-ever IPO.
‘We are looking forward to doing it some time next month,’ said the other source, who also has direct knowledge of the deal.
A spokesman for DLF declined comment.
The second source said Symphony Capital, a private equity firm, had already invested US$450 million in the DLF Assets, which is to be listed in Singapore as a Reit, in a private placement.
DLF’s founders had also put 12.8 billion rupees (US$305 million) rupees into DLF Assets, the source said.
‘This is a move to show that even the promoters are confident on the futures of the trust,’ the source said.
DLF, which had first announced plans for the Reit IPO last year, said in February it was still working on it, and expected it to be launched in the second quarter of the year.
‘We have already received regulatory approval in Singapore, we just need to update the papers with the most recent financial information,’ the first source said on Monday.
Poor market conditions had prompted rivals Unitech and Indiabulls Real Estates to also postpone their planned Singapore Reit IPOs in March. India’s main share index fell almost 23 per cent in the March quarter.
Indiabulls Properties Investment Trust filed its prospectus last Thursday, and plans to raise US$235 million in its IPO in Singapore, a source told Reuters.
India does not allow Reits to be floated, although regulators have issued draft guidelines. — REUTERS
Source : Business Times – 12 May 2008
Posted in General, REITS | Tagged: DLF Ltd, India Developers, Indiabulls Properties Investment Trust, Indiabulls Real Estates, REITS, Singapore IPO, Singapore REITS, Unitech | Leave a Comment »
Posted by luxuryasiahome on May 12, 2008
Indian developer DLF Ltd will revive and enlarge an initial public offer of its property trust in Singapore because it believes market conditions have improved, two people close to the development said on Monday.
Earlier this year, India’s most valuable property firm had shelved a planned US$1.5 billion IPO for its real estate investment trust (Reit), scheduled for the first three months of 2008, on account of volatile market conditions. At the time, a source had said it might consider a private placement instead.
‘The markets are slightly better than before, so we plan to update the IPO papers in Singapore by month-end or next month,’ one source said.
‘The size will be more than US$2 billion – possibly the same size as the India IPO,’ the first source said.
DLF had raised US$2.25 billion in its IPO last July, which at the time was India’s biggest-ever IPO.
‘We are looking forward to doing it some time next month,’ said the other source, who also has direct knowledge of the deal.
A spokesman for DLF declined comment.
The second source said Symphony Capital, a private equity firm, had already invested US$450 million in the DLF Assets, which is to be listed in Singapore as a Reit, in a private placement.
DLF’s founders had also put 12.8 billion rupees (US$305 million) rupees into DLF Assets, the source said.
‘This is a move to show that even the promoters are confident on the futures of the trust,’ the source said.
DLF, which had first announced plans for the Reit IPO last year, said in February it was still working on it, and expected it to be launched in the second quarter of the year.
‘We have already received regulatory approval in Singapore, we just need to update the papers with the most recent financial information,’ the first source said on Monday.
Poor market conditions had prompted rivals Unitech and Indiabulls Real Estates to also postpone their planned Singapore Reit IPOs in March. India’s main share index fell almost 23 per cent in the March quarter.
Indiabulls Properties Investment Trust filed its prospectus last Thursday, and plans to raise US$235 million in its IPO in Singapore, a source told Reuters.
India does not allow Reits to be floated, although regulators have issued draft guidelines. — REUTERS
Source : Business Times – 12 May 2008
Posted in General, REITS | Tagged: DLF Ltd, India Developers, Indiabulls Properties Investment Trust, Indiabulls Real Estates, REITS, Singapore IPO, Singapore REITS, Unitech | Leave a Comment »
Posted by luxuryasiahome on May 12, 2008
Indian developer DLF Ltd will revive and enlarge an initial public offer of its property trust in Singapore because it believes market conditions have improved, two people close to the development said on Monday.
Earlier this year, India’s most valuable property firm had shelved a planned US$1.5 billion IPO for its real estate investment trust (Reit), scheduled for the first three months of 2008, on account of volatile market conditions. At the time, a source had said it might consider a private placement instead.
‘The markets are slightly better than before, so we plan to update the IPO papers in Singapore by month-end or next month,’ one source said.
‘The size will be more than US$2 billion – possibly the same size as the India IPO,’ the first source said.
DLF had raised US$2.25 billion in its IPO last July, which at the time was India’s biggest-ever IPO.
‘We are looking forward to doing it some time next month,’ said the other source, who also has direct knowledge of the deal.
A spokesman for DLF declined comment.
The second source said Symphony Capital, a private equity firm, had already invested US$450 million in the DLF Assets, which is to be listed in Singapore as a Reit, in a private placement.
DLF’s founders had also put 12.8 billion rupees (US$305 million) rupees into DLF Assets, the source said.
‘This is a move to show that even the promoters are confident on the futures of the trust,’ the source said.
DLF, which had first announced plans for the Reit IPO last year, said in February it was still working on it, and expected it to be launched in the second quarter of the year.
‘We have already received regulatory approval in Singapore, we just need to update the papers with the most recent financial information,’ the first source said on Monday.
Poor market conditions had prompted rivals Unitech and Indiabulls Real Estates to also postpone their planned Singapore Reit IPOs in March. India’s main share index fell almost 23 per cent in the March quarter.
Indiabulls Properties Investment Trust filed its prospectus last Thursday, and plans to raise US$235 million in its IPO in Singapore, a source told Reuters.
India does not allow Reits to be floated, although regulators have issued draft guidelines. — REUTERS
Source : Business Times – 12 May 2008
Posted in General, REITS | Tagged: DLF Ltd, India Developers, Indiabulls Properties Investment Trust, Indiabulls Real Estates, REITS, Singapore IPO, Singapore REITS, Unitech | Leave a Comment »
Posted by luxuryasiahome on May 12, 2008
Indian developer DLF Ltd will revive and enlarge an initial public offer of its property trust in Singapore because it believes market conditions have improved, two people close to the development said on Monday.
Earlier this year, India’s most valuable property firm had shelved a planned US$1.5 billion IPO for its real estate investment trust (Reit), scheduled for the first three months of 2008, on account of volatile market conditions. At the time, a source had said it might consider a private placement instead.
‘The markets are slightly better than before, so we plan to update the IPO papers in Singapore by month-end or next month,’ one source said.
‘The size will be more than US$2 billion – possibly the same size as the India IPO,’ the first source said.
DLF had raised US$2.25 billion in its IPO last July, which at the time was India’s biggest-ever IPO.
‘We are looking forward to doing it some time next month,’ said the other source, who also has direct knowledge of the deal.
A spokesman for DLF declined comment.
The second source said Symphony Capital, a private equity firm, had already invested US$450 million in the DLF Assets, which is to be listed in Singapore as a Reit, in a private placement.
DLF’s founders had also put 12.8 billion rupees (US$305 million) rupees into DLF Assets, the source said.
‘This is a move to show that even the promoters are confident on the futures of the trust,’ the source said.
DLF, which had first announced plans for the Reit IPO last year, said in February it was still working on it, and expected it to be launched in the second quarter of the year.
‘We have already received regulatory approval in Singapore, we just need to update the papers with the most recent financial information,’ the first source said on Monday.
Poor market conditions had prompted rivals Unitech and Indiabulls Real Estates to also postpone their planned Singapore Reit IPOs in March. India’s main share index fell almost 23 per cent in the March quarter.
Indiabulls Properties Investment Trust filed its prospectus last Thursday, and plans to raise US$235 million in its IPO in Singapore, a source told Reuters.
India does not allow Reits to be floated, although regulators have issued draft guidelines. — REUTERS
Source : Business Times – 12 May 2008
Posted in General, REITS | Tagged: DLF Ltd, India Developers, Indiabulls Properties Investment Trust, Indiabulls Real Estates, REITS, Singapore IPO, Singapore REITS, Unitech | Leave a Comment »
Posted by luxuryasiahome on May 12, 2008
Indian developer DLF Ltd will revive and enlarge an initial public offer of its property trust in Singapore because it believes market conditions have improved, two people close to the development said on Monday.
Earlier this year, India’s most valuable property firm had shelved a planned US$1.5 billion IPO for its real estate investment trust (Reit), scheduled for the first three months of 2008, on account of volatile market conditions. At the time, a source had said it might consider a private placement instead.
‘The markets are slightly better than before, so we plan to update the IPO papers in Singapore by month-end or next month,’ one source said.
‘The size will be more than US$2 billion – possibly the same size as the India IPO,’ the first source said.
DLF had raised US$2.25 billion in its IPO last July, which at the time was India’s biggest-ever IPO.
‘We are looking forward to doing it some time next month,’ said the other source, who also has direct knowledge of the deal.
A spokesman for DLF declined comment.
The second source said Symphony Capital, a private equity firm, had already invested US$450 million in the DLF Assets, which is to be listed in Singapore as a Reit, in a private placement.
DLF’s founders had also put 12.8 billion rupees (US$305 million) rupees into DLF Assets, the source said.
‘This is a move to show that even the promoters are confident on the futures of the trust,’ the source said.
DLF, which had first announced plans for the Reit IPO last year, said in February it was still working on it, and expected it to be launched in the second quarter of the year.
‘We have already received regulatory approval in Singapore, we just need to update the papers with the most recent financial information,’ the first source said on Monday.
Poor market conditions had prompted rivals Unitech and Indiabulls Real Estates to also postpone their planned Singapore Reit IPOs in March. India’s main share index fell almost 23 per cent in the March quarter.
Indiabulls Properties Investment Trust filed its prospectus last Thursday, and plans to raise US$235 million in its IPO in Singapore, a source told Reuters.
India does not allow Reits to be floated, although regulators have issued draft guidelines. — REUTERS
Source : Business Times – 12 May 2008
Posted in General, REITS | Tagged: DLF Ltd, India Developers, Indiabulls Properties Investment Trust, Indiabulls Real Estates, REITS, Singapore IPO, Singapore REITS, Unitech | Leave a Comment »
Posted by luxuryasiahome on May 12, 2008
Indian developer DLF Ltd will revive and enlarge an initial public offer of its property trust in Singapore because it believes market conditions have improved, two people close to the development said on Monday.
Earlier this year, India’s most valuable property firm had shelved a planned US$1.5 billion IPO for its real estate investment trust (Reit), scheduled for the first three months of 2008, on account of volatile market conditions. At the time, a source had said it might consider a private placement instead.
‘The markets are slightly better than before, so we plan to update the IPO papers in Singapore by month-end or next month,’ one source said.
‘The size will be more than US$2 billion – possibly the same size as the India IPO,’ the first source said.
DLF had raised US$2.25 billion in its IPO last July, which at the time was India’s biggest-ever IPO.
‘We are looking forward to doing it some time next month,’ said the other source, who also has direct knowledge of the deal.
A spokesman for DLF declined comment.
The second source said Symphony Capital, a private equity firm, had already invested US$450 million in the DLF Assets, which is to be listed in Singapore as a Reit, in a private placement.
DLF’s founders had also put 12.8 billion rupees (US$305 million) rupees into DLF Assets, the source said.
‘This is a move to show that even the promoters are confident on the futures of the trust,’ the source said.
DLF, which had first announced plans for the Reit IPO last year, said in February it was still working on it, and expected it to be launched in the second quarter of the year.
‘We have already received regulatory approval in Singapore, we just need to update the papers with the most recent financial information,’ the first source said on Monday.
Poor market conditions had prompted rivals Unitech and Indiabulls Real Estates to also postpone their planned Singapore Reit IPOs in March. India’s main share index fell almost 23 per cent in the March quarter.
Indiabulls Properties Investment Trust filed its prospectus last Thursday, and plans to raise US$235 million in its IPO in Singapore, a source told Reuters.
India does not allow Reits to be floated, although regulators have issued draft guidelines. — REUTERS
Source : Business Times – 12 May 2008
Posted in General, REITS | Tagged: DLF Ltd, India Developers, Indiabulls Properties Investment Trust, Indiabulls Real Estates, REITS, Singapore IPO, Singapore REITS, Unitech | Leave a Comment »
Posted by luxuryasiahome on May 12, 2008
Indian developer DLF Ltd will revive and enlarge an initial public offer of its property trust in Singapore because it believes market conditions have improved, two people close to the development said on Monday.
Earlier this year, India’s most valuable property firm had shelved a planned US$1.5 billion IPO for its real estate investment trust (Reit), scheduled for the first three months of 2008, on account of volatile market conditions. At the time, a source had said it might consider a private placement instead.
‘The markets are slightly better than before, so we plan to update the IPO papers in Singapore by month-end or next month,’ one source said.
‘The size will be more than US$2 billion – possibly the same size as the India IPO,’ the first source said.
DLF had raised US$2.25 billion in its IPO last July, which at the time was India’s biggest-ever IPO.
‘We are looking forward to doing it some time next month,’ said the other source, who also has direct knowledge of the deal.
A spokesman for DLF declined comment.
The second source said Symphony Capital, a private equity firm, had already invested US$450 million in the DLF Assets, which is to be listed in Singapore as a Reit, in a private placement.
DLF’s founders had also put 12.8 billion rupees (US$305 million) rupees into DLF Assets, the source said.
‘This is a move to show that even the promoters are confident on the futures of the trust,’ the source said.
DLF, which had first announced plans for the Reit IPO last year, said in February it was still working on it, and expected it to be launched in the second quarter of the year.
‘We have already received regulatory approval in Singapore, we just need to update the papers with the most recent financial information,’ the first source said on Monday.
Poor market conditions had prompted rivals Unitech and Indiabulls Real Estates to also postpone their planned Singapore Reit IPOs in March. India’s main share index fell almost 23 per cent in the March quarter.
Indiabulls Properties Investment Trust filed its prospectus last Thursday, and plans to raise US$235 million in its IPO in Singapore, a source told Reuters.
India does not allow Reits to be floated, although regulators have issued draft guidelines. — REUTERS
Source : Business Times – 12 May 2008
Posted in General, REITS | Tagged: DLF Ltd, India Developers, Indiabulls Properties Investment Trust, Indiabulls Real Estates, REITS, Singapore IPO, Singapore REITS, Unitech | Leave a Comment »
Posted by luxuryasiahome on May 12, 2008
Indian developer DLF Ltd will revive and enlarge an initial public offer of its property trust in Singapore because it believes market conditions have improved, two people close to the development said on Monday.
Earlier this year, India’s most valuable property firm had shelved a planned US$1.5 billion IPO for its real estate investment trust (Reit), scheduled for the first three months of 2008, on account of volatile market conditions. At the time, a source had said it might consider a private placement instead.
‘The markets are slightly better than before, so we plan to update the IPO papers in Singapore by month-end or next month,’ one source said.
‘The size will be more than US$2 billion – possibly the same size as the India IPO,’ the first source said.
DLF had raised US$2.25 billion in its IPO last July, which at the time was India’s biggest-ever IPO.
‘We are looking forward to doing it some time next month,’ said the other source, who also has direct knowledge of the deal.
A spokesman for DLF declined comment.
The second source said Symphony Capital, a private equity firm, had already invested US$450 million in the DLF Assets, which is to be listed in Singapore as a Reit, in a private placement.
DLF’s founders had also put 12.8 billion rupees (US$305 million) rupees into DLF Assets, the source said.
‘This is a move to show that even the promoters are confident on the futures of the trust,’ the source said.
DLF, which had first announced plans for the Reit IPO last year, said in February it was still working on it, and expected it to be launched in the second quarter of the year.
‘We have already received regulatory approval in Singapore, we just need to update the papers with the most recent financial information,’ the first source said on Monday.
Poor market conditions had prompted rivals Unitech and Indiabulls Real Estates to also postpone their planned Singapore Reit IPOs in March. India’s main share index fell almost 23 per cent in the March quarter.
Indiabulls Properties Investment Trust filed its prospectus last Thursday, and plans to raise US$235 million in its IPO in Singapore, a source told Reuters.
India does not allow Reits to be floated, although regulators have issued draft guidelines. — REUTERS
Source : Business Times – 12 May 2008
Posted in General, REITS | Tagged: DLF Ltd, India Developers, Indiabulls Properties Investment Trust, Indiabulls Real Estates, REITS, Singapore IPO, Singapore REITS, Unitech | Leave a Comment »
Posted by luxuryasiahome on May 12, 2008
Orchard Parade Holdings Ltd on Monday reported net profit for the first quarter ended March 31, 2008 rose to $16.65 million (US$12.17 million) from $5.12 million a year ago due to better hospitality operations.
Earnings per share rose to 4.75 cents, compared to 1.46 cents a year earlier.
Revenue, however, fell 44.5 per cent to $17.16 million as no revenue was recognised from development projects this period. — BT Newsroom
Source : Business Times – 12 May 2008
Posted in Developer News, General | Tagged: Developers, Orchard Parade Holdings, Singapore Hotels | Leave a Comment »
