Ascendas Reit Q1 income up 16%
Ascendas Real Estate Investment Trust (A-Reit) on Friday posted a 16 per cent rise in quarterly distributable income, boosted by higher rentals at its business park properties. A-Reit, Singapore’s second-biggest property trust by market value, earned distributable net income of $51.8 million (US$38.3 million) or 3.89 Singapore cents per unit, for its fiscal first quarter … Read more
Retailers at Changi’s T3 say business bad, 6 months after opening
With more than 100 retail establishments, Singapore Changi Airport’s Terminal 3 is touted as the latest shopping destination for ‘mall-crazy’ Singaporeans. But six months since its opening, retailers said business is suffering. Changi Airport’s T3 public area has 31 outlets. Retailers said they are barely making ends, though takings over the weekends may be slightly … Read more
The Wharf Residence
Location: Tong Watt Road, off Mohd Sultan Road Tenure: 999 years leasehold Expected Completion: March 2013 Site Area: 76, 956 sq ft Plot Ratio: 3.8 Description: 4 tower blocks of 10/14/15/23 storey and 13 retrofitted houses Total Units: 186 Unit Types: 2 bedroom ~ 1012 – 1163 sqft, 110 units 3 bedroom ~ 1313 – … Read more
Landmark en bloc ruling
Judge sets out role of Strata Titles Board and which of its findings can be challenged IT IS a situation that may apply to some en bloc deals: The selling price could have been higher if the sales committee or its agent had tried harder to secure a better deal. In the case of Horizon … Read more
JLL predicts up to 4.5% dip in typical prime district rents
RENTS and resale prices of housing in the central and prime districts could be hit this year and next depending on the crunch in the US market, says Jones Lang LaSalle (JLL). In the worst case scenario, the real estate consultancy firm projects a 3.5 to 4.5 per cent drop in rents in the typical … Read more
Prime residential rents could fall 4.5% by year end
RESIDENTIAL rents in Singapore’s prime districts could drop by 4.5 per cent by year end, amid fears of a longer-than-expected downturn in the United States. Property consultant Jones Lang LaSalle (JLL) said the high rentals seen in the Republic’s prime districts last year are now facing downward pressure. Prime properties are typically located in districts … Read more
Reliving the kampung spirit in Seletar Hills
SELETAR Hills Estate today is that residential pocket comprising rows of bungalows, terraced or semi-detached houses with gardens, interspersed with newer condominiums. The residents’ committee there, the Seletar Hills Estate Residents’ Association (Shera), celebrates its 40th anniversary tomorrow. With anniversaries tending to make people wistful, some of the estate’s old-timers are looking back on the … Read more
CMT still keen to acquire; DPU beats forecast
THE current economic landscape could provide rich pickings for some. Chief executive of CapitaMall Trust (CMT) management Pua Sek Guan noted that when the market is ‘very good’, it is difficult for acquisitions to be made. ‘Today, there are deals to be done,’ he said. While Mr Pua would not say if CMT was looking … Read more
CapitaMall Trust to offer bumper payout
UNITHOLDERS of CapitaMall Trust (CMT) will receive a bumper payout for the second quarter, with distributable income up 20 per cent to $58.6 million from last year. The trust will pay out 3.52 cents per unit for the three months ended June 30, compared with 3.12 cents per unit last year. CMT said its portfolio … Read more
$3b Farrer condo boasts sensuous, curvy towers
Renowned architect Zaha Hadid behind their design; project to be launched in 2009 PROPERTY giant CapitaLand has unveiled the ‘branded’ upmarket designs for a $3 billion residential project in Farrer Road that it aims to launch next year. UNIQUE DESIGN: The as-yet-unnamed condo’s 36-storey towers will feature a series of sensuous lines not commonly seen … Read more
