K-REIT Asia says it has completed the acquisition of levels 20 to 25 of Prudential Tower located at 30 Cecil Street. K-REIT Asia says it paid $106 million for the property and the acquisition will be funded by a bridging loan facility of up to $110 million from Kephinance Investment. K-REIT Asia says the bridging loan is to be repaid from the net proceeds of the underwritten and renounceable rights issue...
2009
For many in a busy city, the office may be their second home but feels nothing like one. To reinvent your perception of working space, apbcOffices recently launched its latest project, 75 High Street, which it has refurbished to the tune of $5 million. The eight-storey serviced apartment looks and feels like a boutique hotel with a reception styled like a bartop, complete with a chess set, miniature...
CapitaLand has gained shareholder approval for plans to list its integrated shopping mall business CapitaMalls Asia, paving the way for its listing by the end of the year. The new unit will have a portfolio of 86 retail properties valued at S$20.3 billion located across five countries in Asia. CapitaLand shareholders took time out on Friday morning for an extraordinary general meeting on the group's...
Mainboard listed CDL Hospitality Trusts said it will pay 2.23 Singapore cents per unit in the third quarter, down about 24 per cent on-year. Its total income available for distribution in the quarter came to S$18.6 million. Mr Vincent Yeo, CEO of M&C REIT Management, said the weaker on-year performance reflects the impact of the global recession on travel since the beginning of this year. For the...
Singapore overtook London as the investors' preferred place for doing business in a Bloomberg Global survey. Singapore was chosen by 17 per cent of respondents who said it was the second best place for financial services two years from now. New York, despite being battered by the financial crisis, remained the world's leading financial centre with 29 per cent of the votes. London was in third place,...
The High Court on Thursday dismissed Ideal Accommodation's appeal against a court order to pay Cove Development rental arrears amounting to over $872,000. The sum represents approximately two months of rental arrears for units at Grangeford Apartments which were leased to Ideal. Earlier this year, Ideal was charged with illegally renting out 171 units of Grangeford Apartments - 141 of which had been...
There were almost four times the numbers of applicants for the 1,200 flats released in HDB's Build-To-Order (BTO) flats in Sengkang and Jurong West. However, one industry player sees this demand for BTO flats as the norm and not as a result of the recent high prices in the HDB resale market. Mohammed Ismail, CEO of Propnex, said: "BTO are generally in greater demand and the usual number of subscription...
The Urban Redevelopment Authority (URA) will launch a tender for an industrial site at Pioneer Road North and Soon Lee Drive. The land parcel was previously placed under the reserve list system. It has an area of 1.9 hectares and a lease period of 30 years. Under the system, a site would be released for sale only if it receives a bid with a minimum price that is acceptable to the government. An unnamed...
There was a flurry of activity in the Newton Road area, with five transactions of between $1,100 and $1,676 psf carried out from Sept 25 to Oct 2, according to caveats lodged with URA Realis. The highest psf transacted price for that week was seen at a 1,216 sq ft, 10th-floor apartment at Newton One — it was sold for $2.038 million or $1,676 psf. Another transaction that took place in the same tower was...
Forest canopies keep temperatures in our nature reserves cooler, so could a similar concept have the same effect in our business parks? Singapore's leading industrial landlord intends to find out, and if it works, industrial clusters here are set to turn a shade of green. The Green Roof Trellis concept by JTC Corporation aims to lower temperatures in these parks by 2-3°C – which would reduce energy...