First Reit Q2 DPU up 16 pct
First Real Estate Investment Trust (First Reit) announced today that its distributable amount for the second quarter ended June 30, 2008 rose 16.1 per cent to $5.2 million from a year ago. This translates to a distribution per unit (DPU) of 1.91 Singapore cents, up 15.8 per cent, said Bowsprit Capital Corporation, the manager of … Read more
Govt property vacant for years
Auditor-General’s annual report raps agencies for not ‘maximising usage’ of state-owned buildings GOVERNMENT chalets left to go to seed and unleased for over 14 years and other buildings and tracts of land left empty for years on end – these have come to light in the Auditor-General’s annual report. Mr Lim Soo Ping has taken … Read more
Condo sales in S’pore hit by bad news from US
THE bad news coming out of the United States last week took its toll on property sales in Singapore over the weekend. Two newly released projects sold fewer than 20 units each, as homebuyers’ caution deepened after the collapse of US bank IndyMac and the forced rescue of mortgage giants Freddie Mac and Fannie Mae. … Read more
Hope in sight for Tampines Court sale?
Majority owners’ last-ditch bid to push through collective sale may bear fruit AN ELEVENTH-HOUR bid by the owners of Tampines Court to save their collective sale from petering out seems to be paying off. The deal was in danger of collapsing after the sales committee delayed seeking mandatory Strata Titles Board (STB) approval for the … Read more
Affordable HDB flats: Costings don’t add up
I REFER to last Wednesday’s letter from the HDB, ‘How HDB flats are priced affordably’. It mentioned that a new four-room flat costs close to $300,000 to develop, taking into account land, building and other costs. It did not give details of how each cost is calculated. I remember a similar Forum letter on July … Read more
New float in Temasek property fleet?
BT RECENTLY reported that Mapletree Investments is ready for an initial public offering (IPO) – at least, in terms of the business profile and track record it has achieved – although any decision on this score will rest with its board and shareholder, Temasek Holdings. Current weak stockmarket conditions would rule out an IPO in … Read more
MapletreeLog banking on rights issue
A RIGHTS issue will boost Mapletree Logistics Trust’s capacity for acquisitions, but the trust will only selectively take on deals that are highly accretive. ‘While we remain committed to our yield plus growth strategy, in the current environment, the manager’s immediate focus is to optimise yield from organic growth through extracting positive rental reversions and … Read more
Johor’s Horizon Hills attracts foreign buyers
WITH a golf course set within a residential township, the resort-style Horizon Hills in South Johor is attracting considerable overseas interest – more than 60 per cent of buyers in launched precincts are foreigners. Here in town yesterday to promote the project, Malaysian developer Gamuda Land also noted that Singaporeans make up more than half … Read more
