Singapore office occupancy costs the third highest in Asia-Pacific
Singapore has recorded robust demand in the office sector for the first six months of this year. According to a mid-year review by Colliers International, the Singapore office sector has seen high rents and low vacancy rates, with office occupancy costs the third highest in the Asia-Pacific region. On average, annual Grade A office rents … Read more
Ascott sells Somerset Orchard serviced residence for S$100m
The Ascott group, wholly-owned by CapitaLand, has sold the 88-unit Somerset Orchard serviced residence for S$100 million. The sale to OG Private Limited translates to some S$1,530 per square foot. With a carrying value of S$57 million, CapitaLand is expected to recognise a gross gain of about S$43 million from the deal. After the sale, … Read more
Ascott to sell Somerset Orchard for $100 mln
CapitaLand’s wholly-owned unit, The Ascott Group has entered into a conditional sale and purchase agreement to sell Somerset Orchard, an 88-unit serviced residence along Orchard Road for a cash consideration of $100 million or about $1,530 per square foot to OG Private Limited. The carrying value of the property is $57 million. CapitaLand is expected … Read more
Experts say Singapore won’t be spared from market turmoil
The turmoil in the Asian markets last week is just the beginning of worse to come, said economists and analysts, and Singapore is unlikely to be spared in the weeks ahead. There were jitters, even signs of panic, in Asian bourses the end of last week, with the rise in United States jobless claims — … Read more
Malls gear up for F1, but retailers still cautious
Never mind that 100,000 spectators are expected to descend on the Marina Bay area. Even all-out efforts by the management of shopping centres to tap the crowds have yet to dispel the lingering doubts of retailers that their cash tills will be ringing during Singapore’s inaugural Formula 1 race at the end of the month. … Read more
First Reit to buy logistics centre for $42m
First REIT said on Monday it has signed an agreement to buy a healthcare logistics and distribution centre in Singapore for S$42 million. This marks its first acquisition of a healthcare logistics and distribution centre and its fifth asset in Singapore, lifting its assets under management by 13 per cent to S$368 million. The acquisition … Read more
Moody’s downgrades MP Reit’s ratings
Moody’s Investor Services has on Monday downgraded the corporate family and unsecured ratings of Macquarie Prime Reit (MP Reit) to Baa2 and Baa3 respectively. The outlook for the ratings is stable. The credit rating agency said this concludes the rating review for downgrade which commenced on Feb 26 2008 after MP Reit announced a comprehensive … Read more
CapitaLand jumps 9.5%, helped by CLSA
Shares of Southeast Asia’s largest property developer CapitaLand leapt as much as 9.5 per cent on Monday to $4.50 (US$3.14), helped by improved market sentiment after the US bailout of Freddie Mae and Freddie Mac. CLSA also resumed its coverage on CapitaLand with a ‘buy’ rating price, saying that the developer’s share price has fallen … Read more
Concourse Skyline
WELCOME TO CITY LIVING AT ITS MOST SPECTACULAR Rising to a high of 40 storeys along Beach Road, Concourse Skyline is a distinctive urban address that offers discerning home owners exceptional views, uncompromised luxury, and the privilege of being in the heart of Singapore’s brand new downtown. Get ready for cosmopolitan living with front row … Read more
You’ve got a home… but does your car?
Carparks at newer condos smaller; some even have fewer lots than units Home owners looking to buy a condominium within the next few years may soon find themselves in a squeeze when it comes to parking their cars at home. A Straits Times survey of 26 condominiums launched or built after 2005 showed carparks are … Read more
