Frasers Centrepoint Trust's full-year distribution per unit (DPU) rose 11.3 per cent on year for 2008, from 6.55 cents to 7.29 cents. Quarter-on-quarter, its DPU climbed 22.8 per cent to 2.05 cents. The mainboard-listed retail REIT's gross revenue for the year was up 9.2 per cent compared to last year, at S$84.7 million. Frasers said its gross revenue and net property income growth was driven by strong...
2008
CapitaCommercial Trust (CCT) achieved a distributable income of S$43.2m for the third quarter ended September 30. This was 46.1 per cent higher compared to the same period last year. The increase was attributed mainly to the higher gross rental income achieved for its portfolio as well as income contribution from its No.1, George Street property. The trust's third quarter distribution per unit (DPU) also...
CAUGHT in between a sluggish economy and sticky office rents, many business owners are feeling squeezed. Many are trying to cut costs while looking for new opportunities. But Regus Group's country general manager (South-east Asia) William Willems has little doubt that serviced offices - like the ones his firm officially launched last week at One Fullerton - are the answer. Mr Willems told Today: "Now is...
Far East's West Coast Plaza 70 per centleased before launch Never mind the news about consumers tightening their belts or forgoing frills in the face of an economic downturn. As far as developer Far East Organization is concerned, tenants of West Coast Plaza - its latest refurbished suburban retail offering - are all geared up for business for the upcoming festive season. Formerly known as Ginza Plaza,...
Vivace , a haven for contemporary living , offers a selection of trendy apartments with a choice of 1-bedroom/studio, 2-bedroom and penthouse units. The development sits on beautifully landscaped grounds lined with soothing water features and spa pools. To reflect the urban lifestyle, the building adopts the concept of Vivace - a movement of a lively mood in music. The facade and running patterns are...
Ascott Residence Trust (Ascott Reit) achieved a unitholders' distribution of S$15.86 million for the third quarter of 2008. This is a 32 per cent increase compared to the same period in 2007. In a statement, Ascott says distribution per unit (DPU) for the quarter ended September 30, 2008, is 2.61 cents, a 31 per cent year-on-year increase. Ascott Reit posted strong operating performance for the third...
High costs spur CapitaMall Trust to shelve expansion plans THE manager of mainboard-listed CapitaMall Trust (CMT) said it will shelve expansion plans for three of its malls due to high construction costs and the competitive environment for resources currently. CapitaMall Trust Management said CMT had planned to add office space and expand the amount of retail space at Funan DigitaLife Mall (Funan);...
CLIMATE change is not the only reason why Singapore is taking a serious interest in sustainable development. The current economic crisis presents a number of challenges - or provides the impetus, some would say - for Singapore's building industry to not only cut cost but also come up with innovative and green-friendly construction practices. To get builders to reduce the impact of building works on the...
WE REFER to the report, "Rental scams on the rise here" (Oct 13). It is important for the public - who may be potential tenants, buyers, landlords and/or sellers - to be aware of their rights and to do as much due diligence checks before entering into any contracts or handing over monies. We strongly advise the public to engage or work with accredited agents and salespersons under the Singapore...
The Urban Redevelopment Authority rejected the only bid for a transitional office site at Mohamed Sultan Road. The offer price of about S$4.65 million for the site, or about S$502 per square metre of gross floor area, was considered too low. The approximately 6,000 square metre land parcel was offered for sale on a 15-year lease. Transitional office sites were released in response to the shortage of...