Starhill Global Real Estate Investment Trust will pay 1.85 Singapore cents per unit for the fourth quarter of 2008. This is 10.1 per cent higher than the same period a year ago. For the three months to December last year, Starhill Global REIT had distributable income of S$18.1 million. The Trust says its net property income over the period was 17.1 per cent higher at S$26.0 million. This is due mainly...
January 2009
CDL Hospitality Trusts will pay unitholders 1.8 cents per stapled security for the fourth quarter ending December 31, 2008. This is about 34 per cent lower than the same period in 2007. But the full-year distribution per unit is up by 18 per cent to 10.62 cents in 2008, compared with a year ago. The Trust said its net property income rose nearly 20 per cent on-year to S$102.8 million. Gross revenues...
Property developer CapitaLand has said it will give back S$41.5 million in rental rebates to existing retail, commercial and industrial tenants. This will effectively mean a 4 per cent reduction in rentals on average. The developer is passing on the savings it received from the government's Budget announcement last week. Finance Minister Tharman Shanmugaratnam had said the government is giving a 40 per...
Parkway Life REIT (PREIT) will pay 1.84 cents per unit for its fiscal fourth quarter. This is nearly 18 per cent higher than its forecast. For the full year, unitholders can expect a payout of 6.83 cents per unit - about 9 per cent higher than forecast. All in for the full year, PREIT had S$41.2 million to distribute to unitholders, exceeding its forecast by 9.4 per cent. PREIT said its total net...
Analysts expect more 'shadow space' ahead Even as office rentals are tumbling fast, more space is lying idle at vacancy levels approaching those seen just before the recent boom years. As at the end of last month, the island-wide vacancy rate ofoffice space stood at 8.8 per cent,up from the third quarter's rate of8.2 per cent, according to data released last week by the Urban Redevelopment Authority...
Construction firm Koh Brothers has won a contract to build the first part of the Punggol Waterway in Punggol Town. The contract, which is awarded by the Housing and Development Board (HDB), is worth S$144.6 million. Under the deal, Koh Brothers will build a 2.4-kilometre waterway and its related engineering works in Punggol Town. The waterway, which will have a promenade on both banks, will be connected...
The Housing and Development Board (HDB) has awarded a S$144.6 million contract to Koh Brothers Building and Civil Engineering Contractor to develop Punggol estate into a premier waterfront town. Plans to revamp Punggol were announced by Prime Minister Lee Hsien Loong at the National Day Rally in August 2007. They include the construction of a 4.2-kilometre waterway which will be connected to Sungei...
S$1 billion has been earmarked for greening Singapore's infrastructure over the next five years. Experts said the real challenge lies not in new developments, but in retrofitting existing buildings. Lee Siew Eang, head, Energy Sustainability Unit, School of Design and Environment, National University of Singapore, said: "That forms approximately about 80 per cent of our existing building stocks and these...
BUYERS of new private homes don't have to worry about not being able to move in on time even as some developers take advantage of incentives announced in Thursday's Budget that allow them to extend the completion period of their projects. To help developers improve their cash flow and give them more flexibility to plan their projects, the Ministry of National Development will allow developers of...
Surprise drop of 24% inQ4 volume, but analysts say HDB demand intact IT WAS a drop that caught most analysts by surprise - raising fears of a demand downtrend amid a souring economy, even in the traditionally resilient public housing market. After a strong showing in the first three quarters, the number of Housing and Development Board (HDB) resale flat transactions plunged 24 per cent in the last...