15% rental rebate for tenants of HDB, JTC, SLA commercial, industrial properties
Industrial and commercial properties managed by the Housing and Development Board (HDB), JTC Corporation and the Singapore Land Authority (SLA) will get a 15 per cent rental rebate for one year. This will benefit more than 31,000 tenants, lessees and temporary occupation licensees and amount to S$306 million. The rebate will take effect from January … Read more
S’pore to spend S$1 bln over 5 years on sustainable developments
Singapore will spend S$1 billion over the next 5 years on sustainable developments, the Minister of Finance said on Thursday. These projects will include clean energy and green living. Source : Business Times – 22 Jan 2009
Govt to roll out $18-20 bln public projects in 2009
The government is roling out public infrastructure contracts worth $18-20 billion for 2009. Of this, some $1.3 billion of contracts are being brought forward to this year, which would otherwise been slated for later time. This compares to some $15 billion worth of contracts dished out in 2008 and $6 billion in 2007. Source : … Read more
JTC, HDB & SLA offer 15% rent rebates
The Singapore government on Thursday said its agencies JTC Corp, the Housing Board (HDB) and Singapore Land Authority (SLA) will provide a 15 per cent rental rebate to their tenants and land lessees. This exceeds the savings due to a 40 per cent property tax rebate also announced on Thursday during the 2009 Budget statement. … Read more
Govt to offer 40% property tax rebate
The Singapore government says it will offer a 40 per cent property tax rebate to commercial and industrial properties. This is expected to cost the government $800 million a year. Source : Business Times – 22 Jan 2009
One Robin
Nestled in the residential enclave of Bukit Timah (District 10), the glass and aluminium-clad tower of One Robin cuts a dashing figure in its prestigious neighbourhood. With 12 spacious apartments, one duplex and one penthouse, all boasting state-of-the-art imported designer fittings, OneRobin is a sanctuary for those who aspire to modern, luxurious living. Each owner … Read more
CDL issues $100m Islamic notes
City Developments, Singapore’s second-largest developer, said on Thursday it sold $100 million worth of Islamic notes to fund its syariah-compliant businesses. The 3.25 per cent Islamic Trust Certificates are due in 2010. CIMB is the sole dealer for the Islamic note issue. Source : Business Times – 22 Jan 2009
First REIT to distribute 1.94 cts per unit in Q408
First REIT paid out more in the fourth quarter ended Dec 31 2008 with distribution per unit of 1.94 cents, up from 1.76 cents, thanks to higher rentals from its properties in Singapore and Indonesia. Its net property income grew 4.1 per cent to $7.51 million, on the back of higher retnals from four Indonesia … Read more
Property tax on land under development deferred: Tharman
The government will defer property tax on land approved for development for up to two years until Jan 21, 2011 or the date the date the project receives its temporary occupation permit (TOP), whichever is earlier. This will cost the government $290 million a year in 1009 and 2010, said Finance Minister Tharman Shanmugaratnam on … Read more
No panaceas for maladies of Reits
THE Monetary Authority of Singapore earlier this month reassured Real Estate Investment Trust (Reit) managers that it will not consider a rise in aggregate leverage that is due to a decline in property valuations as a breach of regulatory limits. This may give some breathing space to Singapore Reits in the current tough environment. In … Read more
