What goes into building a city and what does it take to build a city from the ground up? Managing Director at PwC Capital Projects & Infrastructure, Keith Martin said on Tuesday (Jan 27): "The starting point of good planning is really to understand the demand for a new city space or new urban development. “So, there must be a way of measuring demand, assessing that demand, understanding the type...
General
Distributable income for the October-to-December period amounted to S$23.6 million, up from S$21.9 million in the same quarter last year, lifting distribution per stapled security by 6.6 per cent to 1.78 cents, OUE H-Trust said. Gross revenue rose 4.8 per cent to S$30.4 million and net property income increased 5.5 per cent to S$27 million. Mr Chong Kee Hiong, chief executive of the trust manager, said:...
Qatar looked to have won a drawn-out bid to buy London's Canary Wharf on Wednesday (Jan 28) after the owner of the landmark office quarter said its main shareholders favoured a sale. The board of Songbird, which controls 69 per cent of Canary Wharf Group, appeared to concede defeat despite stressing that the offer worth £2.6 billion (US$4.0 billion) remained undervalued. "It is now the board's...
Property developer M+S has roped in hotel operator Hyatt to operate a hotel in its upcoming DUO development. A management agreement was signed on Tuesday (Jan 27), under which Hyatt will launch its Andaz brand in Singapore. M+S is a joint venture between Singapore's Temasek Holdings and Malaysia's Khazanah Nasional. Expected to open in 2017, Andaz Singapore will be a boutique lifestyle concept...
More Housing and Development Board (HDB) resale flats are being transacted at or below valuation. According to latest figures from the Singapore Real Estate Exchange (SRX), about 8,500 HDB resale flats changed hands in 2014. In the fourth quarter of the year, 41.6 per cent were sold below valuation, compared to 36.9 per cent in the first three months of the year. For transactions at valuation, these...
Private residential property prices fell 1.1 per cent in the fourth quarter of 2014 - a larger decline than the 0.7 per cent slide in the previous quarter, and the fifth consecutive quarter of price decline, according to figures released by the Urban Redevelopment Authority (URA) on Friday (Jan 23). For the whole of 2014, prices fell by 4 per cent - the first year of overall price decline since 2008,...
Prices of resale flats fell by 6 per cent in 2014 - the second straight year of decline - while the number of resale transactions declined 4.3 per cent, according to figures from the Housing and Development Board (HDB). HDB on Friday (Jan 23) announced that the Resale Price Index (RPI) fell by 1.5 per cent in the last quarter of 2014, from 139.1 in the third quarter to 137 in the fourth quarter. The...
Industrial estate manager JTC Corporation will be creating more space to groom Singapore's start-up companies under its LaunchPad initiative. Three new blocks of buildings will be built in one-north to house 250 start-ups. This adds 12,000 square metres of space to three existing start-up blocks, which were officially launched by Prime Minister Lee Hsien Loong on Friday (Jan 23). The next 'LaunchPad'...
Keppel Corporation on Friday (Jan 23) launched a voluntary unconditional cash offer for all the remaining shares of subsidiary Keppel Land. Keppel Corp, the world's largest maker of offshore oil rigs, currently owns 54.6 per cent of Keppel Land, a major Singapore property developer. Keppel Corp said it is offering a base offer price of S$4.38 for each Keppel Land share. A higher offer price of S$4.60...
CapitaMall Trust (CMT) posted a higher fourth-quarter distribution per unit (DPU) of 2.86 cents, up 5.1 per cent from the same quarter a year ago. In a news release issued on Friday (Jan 23), CMT's manager said that its distributable income for the same quarter ended Dec 31 rose 5 per cent on-year to S$99.1 million. This brings CMT's DPU for the full year to 10.84 cents, a 5.6 per cent increase over the...