Property investment sales value hits record low in Q4 2008
The value of property investment sales in Singapore hit a record low in the fourth quarter of 2008. In its latest report, real estate consultancy Colliers International said total investment sales in the three months to December fell by 93 per cent on-year to nearly S$577 million. This is the lowest since the property market … Read more
CapitaCommercial Trust to pay 11 cents per unit in FY2008, up 26% on-year
CapitaCommercial Trust (CCT) will pay 11 cents per unit for its full year 2008, up 26 per cent from the previous financial year. The trust reported distributable income of S$153 million for its financial year ended 31 December 2008. CCT said it performed well in 2008 because of higher rental reversions and the addition of … Read more
Developers want measures in Budget to boost market
Property players have suggested many measures to support the market as Budget 2009 has drawn closer. But it’s anyone’s guess as to what the government will announce come Thursday. ‘The government has so far remained silent on specific measures,’ says Leonard Ong, executive director at KPMG Tax Services. Developers want a property tax rebate on … Read more
MAS gives Reits a New Year gift
Reit managers here have been given more breathing space on borrowing limits by the Monetary Authority of Singapore (MAS), which has clarified how downward revaluations of properties should be treated. Basically, MAS has said that Reits need not worry if their leverage has increased because properties have been revalued and are now worth less. Under … Read more
Home prices still falling, study shows
HOME prices here largely continued to be eroded at the end of last year, according to early indications. A Knight Frank study of a sampling of property options signed mostly last month showed that the prices of many condominiums fell in a quiet month. In developments which had registered more than one recent sale, prices … Read more
Healthy leasing at SEB’s Ubi property
A HI-TECH development at 67 Ubi Avenue 1 has been 63 per cent leased less than two months after receiving its temporary occupation permit (TOP). The property, owned by SEB Asset Management and marketed by Colliers International and CB Richard Ellis, has a net lettable area of about 400,000 square feet. An anchor tenant, understood … Read more
Govt projects seen lifting listed builders
SEVERAL contractors listed on the Singapore Exchange are expected to benefit from the government’s plan to step up construction of smaller public sector projects, analysts said. Analysts also issued fresh ‘buy’ or ‘neutral’ calls on several construction stocks late last week. On Jan 14, National Development Minister Mah Bow Tan said that the government would … Read more
Lawyer fails in bid to quash conviction
A VETERAN lawyer has failed in his appeal against his conviction for helping a Housing Board flat owner make a false claim in court five years ago. However, Bachoo Mohan Singh, a lawyer for more than 30 years, did have his three-month jail term reduced to one month by the High Court and was ordered … Read more
Evergro Properties full-year earnings more than double
EVERGRO Properties, a unit of Keppel Land, posted a net profit of $545,000 for the full year ended Dec 31, 2008 – against just $196,000 for the preceding year. The improved performance was helped by higher interest income and a turnaround in an associated company. Its revenue for the year grew 9.8 per cent to … Read more
K-Reit Asia’s Q4 distributable income soars to $17.4m
KEPPEL Land’s listed office trust, K-Reit Asia, yesterday reported a distributable income to unitholders of $17.4 million for the fourth quarter ended Dec 31, 2008 – a 152 per cent jump from a year ago. This followed a 68 per cent year-on-year increase in net property income to $11.8 million, due to lower property expenses … Read more
