Mainboard-listed retailer Isetan (Singapore) will open its sixth Isetan department store here by end-2010 in the upcoming Serangoon mall called nex. To cost a reported $1.3 billion, the store is said to be Isetan's first in 15 years in Singapore. It will occupy a total retail area of about 53,000 square feet over three floors, Isetan said yesterday. Source : Today – 24 Jul...
2009
More homeowners at Horizon Towers are putting their units up for sale after the proposed $500 million en-bloc sale to a joint venture led by Hotel Properties Ltd fell through in April. The 99-year leasehold property near Orchard saw a total of eight transactions from June 1 to 26 versus only one deal in May. There were four units sold at an average of $848 psf, from June 19 to 26, according to caveats...
Property developer TID will hold a preview of its newest condominium project - Optima@Tanah Merah - before the end of this month. Located next to the Tanah Merah MRT Interchange along New Upper Changi Road, commuters will be able to get to the city centre by train in less than 20 minutes and to Changi International Airport in about 6 minutes. The 99-year leasehold development has 297 units that...
The upcoming suburban mall Nex located at Serangoon Central has leased 60 per cent of its lettable space. Its developer Gold Ridge said retailers like Isetan, Courts and Challenger are among its key tenants. Gold Ridge added that Isetan has secured a 53,000-square foot space, spanning three floors. This will be Isetan's first new department store in Singapore since 1995. Another first, the developer...
Mapletree Logistics Trust has reported a second quarter distribution per unit (DPU) of 1.48 Singapore cents, down 27 per cent from a year earlier. The fall in DPU was mainly due to the enlarged number of outstanding units as a result of the rights issue last August. Net property income for the three months ended June rose 19.2 per cent to S$45.7 million. Distributable income meanwhile rose 26.7 per cent...
CapitaRetail China Trust (CRCT) reported that its distribution per unit (DPU) in the second quarter rose 14.1 per cent to 1.94 cents. The DPU announced is higher than the 1.7 cents DPU reported over the same period last year. Distributable income for the three months to June was S$12 million, 14.2 per cent higher than last year's S$10.5 million. Higher earnings came about as net property income grew by...
The labour movement's recreational arm has scrapped plans for a S$45 million resort development in Sentosa. Palawan Resort was touted as a quality high-end resort for the working class. It was to have opened its doors by the end of last year. But the development faced several delays since it was announced in 2005 by former NTUC Secretary-General Lim Boon Heng. A 3-hectare disused carpark on the resort...
Cambridge Industrial Trust has announced a distribution of 1.345 cents per unit for the quarter April 1, 2009, to June 30, 2009 (2Q09). Total net distributable income for 2Q09 was $10.7 million with a DPU of 1.345 cents. This represents an annualised yield of 15.4% based on the closing price of 35 cents per unit as at June 30. The industrial trust says most of the properties are signed with long-term...
Mapletree Logistics Trust says it achieved a total amount distributable of $29 million for 2Q 2009, an improvement of 27% compared with 2Q 2008. On a half yearly basis, amount distributable in 1H 2009 was $57 million, an improvement of 31% over the corresponding period last year. As at 30 June 2009, the trust’s portfolio comprises 81 properties, with a book value of close to $3 billion. Of the 81...
Mainboard-listed Ascott Residence Trust announced on Thursday that its distribution per unit (DPU) for the second quarter stood at 1.79 cents. That is 18 per cent lower than the 2.19 cents reported over the same period last year. For the three months ended in June, the total amount distributable to unitholders was S$11 million, 17 per cent lower than last year's S$13.3 million. Revenue decreased by seven...