CapitaMall Trust said Friday its rights issue was 1.16 times oversubscribed. Under the exercise first announced in February, the real estate investment trust offered nine rights for every 10 existing units held at S$0.82 each. CMT plans to use a major portion of the proceeds to repay borrowings totalling S$956.2 million due this year. The offer closed on Wednesday. CapitaMall Trust is a unit of real...
2009
The number of repossessed properties put up for sale by banks and financial institutions in Singapore rose by 18 per cent in the first three months of 2009 compared to the previous quarter. A total of 53 properties were repossessed in the first quarter of 2009, up from 45 in the previous quarter. Real estate consultancy firm Colliers International said its findings indicate a continued trend in mortgagee...
Twenty-four stallholders at Chinatown's night market along Pagoda Street have been asked to move. But some are unhappy, saying they would rather stay put. Their relocation is part of efforts by the Singapore Tourism Board to redevelop the area. Stallholders were initially given until the end of March to move out, but now they have until the end of next month. Negotiations between the Chinatown Business...
Shopping malls Anchorpoint and Liang Court have been named the first two Energy Smart Retail Malls in Singapore by the National Environment Agency. This is in recognition of their energy-saving measures to improve energy efficiency and lower operating costs. Anchorpoint spent some S$455,000 to retrofit its chiller system. That helped to reduce its electricity consumption by 1,192 megawatt-hours every...
Email [email protected] for more...
CapitaMall Trust said its S$1.23 billion rights issue has been oversubscribed. The offer closed on Thursday, and final results will be released soon. CapitaMall Trust, a unit of CapitaLand, said last month that it would offer nine rights for every 10 existing units at 82 cents each. It said a major portion of the proceeds would be used to repay borrowings of S$956 million due this year. Source :...
Operator of Singapore's second integrated resort, Resorts World at Sentosa, said it is on track to open four of its six hotels by the first quarter of 2010, adding some 1,350 rooms in the Republic. Even though tourist arrivals, hotel occupancy and room rates have been falling due to the global economic slowdown, the integrated resort will be launched as scheduled. The IR expects to fill 9,000 job...
Singapore's main shopping district has officially welcomed its first boutique hotel, Quincy, which marks Far East Organisation's maiden foray into this market segment. The 108-room Quincy hotel at Mount Elizabeth Road has been open for just over a month, but it has already managed 76 per cent occupancy in February, despite falling tourist arrivals. Raphael Saw, director of Hospitality Operations, Far...
The Nautilus@Punggol is the Housing and Development Board's (HDB) latest Build-To-Order (BTO) project and the first in that area. Prices for its 4- and 5-room units are about 20 to 30 per cent lower than the resale flats in that vicinity, signalling generous subsidies for these new flats. The Nautilus@Punggol will have eight blocks comprising some 520 flats. Of these, nearly 80 per cent are 4-room flats...
Far East Organisation has launched its first-ever major rebranding exercise for its hospitality division. The property developer plans to rebrand its stable of 17 hotels and serviced residences in Singapore under new names. This was announced on Wednesday as Far East opened its first boutique hotel at Mount Elizabeth Road. Under the first phase of the rebranding, Far East will introduce a new "Village"...