UIC, S’pore Land post big gains, but advise caution ahead
CAUTION is the watchword for both United Industrial Corporation (UIC) and its unit, Singapore Land, with both companies casting a wary eye on the coming months. UIC cited ‘uncertainties in the global financial market, as well as an increasing supply of properties’ when it filed buoyant second-quarter earnings yesterday. It added that ‘growth in the … Read more
SingLand, UIC post stronger Q2, H1 earnings
Office landlord Singapore Land and its parent United Industrial Corporation yesterday both posted improved second-quarter and first-half net earnings. The stronger earnings – comprising net profits attributable to shareholders and to minority interests – for the two companies were due partly to fair value gains on investment properties. In previous years, revaluations of investment properties … Read more
JTC: Creating an industrial hub from swampland
JTC has helped to spring Singapore to life, starting with the ‘lost region’ of Jurong, says CLARISSA TAN It takes guts, not to mention imagination, to look at hectares of crocodile-infested swampland and picture a thriving industrial centre. Guts and imagination were what Singapore pioneers such as Goh Keng Swee and Hon Sui Sen had … Read more
Less risks for Reits with long-term leases
I REFER to the article entitled ‘Safety in Reits? Don’t count on it: analysts’ (BT, Aug 4). The article mentioned that Reits are not necessarily defensive plays as these are subject to the cyclical property sector. While this association is generally true for Reits which have short-term lease agreements with their tenants, the cyclical nature … Read more
Stalemate threatens Thomson collective sale
KSH Holdings seeking more time to close property deal, say sources THE collective sale of five small estates near Thomson Road seems to have hit the rocks, with the owners of 88 units set to walk away – taking the $12 million deposit with them. ROADBLOCK: KSH reportedly had to delay the purchase as it … Read more
URA private home index an anomaly
ANECDOTALLY, private residential property prices in Singapore are now at or near their highest. Paradoxically, however, URA’s Private Residential Property Price Index appears to suggest otherwise. When asked about his outlook for the Singapore residential property market, CapitaLand group president and CEO Liew Mun Leong said: ‘In the high-end, there’s not going to be massive … Read more
Growth in office occupancy costs tapers off in Q2
Prime Raffles Place space up only 1.1% quarter on quarter: DTZ report Growth in office occupancy costs in Singapore has started to taper off after the meteoric rise last year, reflecting the increased resistance to higher occupancy costs, according to a new report. ‘Apart from Raffles Place, Shenton Way/ Robinson Road/Cecil Street and decentralised areas, … Read more
Economic slowdown hits Asia’s leasing markets
Rising inflation, shrinking exports and flagging economic growth have dampened business confidence across Asia and slowed prime office rent growth. CB Richard Ellis (CBRE) said on Tuesday, in its second quarter office market report for the Asia-Pacific region, that top financial and professional services firms have begun to slow their expansion in the region. Potential … Read more
IEA to remove guidelines on property agents’ commissions
If you’re shopping for a new home or selling one, you can now negotiate with your property agent on the appropriate commission. The Institute of Estate Agents (IEA) will remove its guidelines on property agents’ commissions next month, to fall in line with the Competition Act. Consumer watchdog CASE has welcomed the move, pointing out … Read more
