Redesigning luxury
As the economic malaise spreads to every corner of the globe, conspicuous consumption – especially in the luxury-lifestyle segment – has dried up faster than you can say ‘credit crunch’. Luxury goods and services have been among the hardest hit as the markets for designer goods, luxury travel and high-priced vacation properties have suddenly dissipated, … Read more
Ascendas India Trust DPU rises 35% in Q3
ASCENDAS India Trust (a-iTrust) said yesterday that distributable income for its third quarter ended Dec 31, 2008 rose 36 per cent to $15.3 million, from $11.3 million a year earlier. Distribution per unit (DPU) for Q3 rose 35 per cent to 2.02 cents. Distribution is semi-annual, so the Q3 distribution will be made with that … Read more
P-Reit expects prices of commercial property to fall
DESPITE having the capacity to do so, the manager of Parkway Life Reit said it will not be aggressive in acquisitions this year as it believes that commercial property prices will come down further. ‘If we wait out a bit longer, we will potentially be able to have a more opportunistic buy at a more … Read more
CapitaMall Trust will pass tax rebates on to tenants
CAPITAMALL Trust (CMT), which has pumped around $55 million into revamping Lot One Shoppers’ Mall at Choa Chu Kang, said yesterday that it will help its tenants cope with the economic slowdown through various ways. ‘We want the tenants to survive so that we can survive,’ president and CEO of CapitaLand Liew Mun Leong told … Read more
Rent-free space at Liang Court for VWOs
LIANG Court Shopping Centre has become the fourth mall here to offer rent-free space to voluntary welfare organisations (VWOs), as part of a government plan that allows malls to add retail space while helping non-profit groups. The River Valley Road mall will offer up to 5,000 sq ft to house three VWOs, though the tenants … Read more
More malls to pass on tax rebate
FOUR more mall landlords have said they would pass on at least part of the 40 per cent property tax rebate they are getting from the Government to their tenants. But City Developments, Frasers Centrepoint, AsiaMalls and Marina Centre Holdings were unable to say how much of the rebate would be passed on and how … Read more
