CapitaCommercial Trust’s (CCT) distributable income rose 7.6 per cent on-year to S$59.9 million in the first quarter, thanks to higher revenue contribution from most of the properties in its portfolio and lower interest expenses. This translates into an estimated distribution per unit of 2.08 cents, said the manager of the trust, CapitaCommercial Trust Management. The trust’s gross revenue for...
General
In another sign that the repeated rounds of cooling measures and loan curbs are taking their toll on the property market here, developers showed greater caution in their bids for a private residential site at Prince Charles Crescent in Redhill. The tender for the 268,713 sq ft site attracted seven bids at the close yesterday, with the highest offer by UOL Venture Investments and Kheng Leong Company at...
Ong Beng Seng and Wheelock Properties yesterday jointly launched a $3.50-a-share cash offer for Hotel Properties Ltd (HPL), reviving market talk that the company would redevelop its substantive and adjacent assets along Orchard Road. Announcing the offer on behalf of offer vehicle 68 Holdings, Standard Chartered Bank said 68 Holdings has agreed to buy almost 42 per cent of HPL for about $750 million...
Sales of private homes by developers in Singapore fell 35 per cent in March from February, data compiled by the Urban Redevelopment Authority (URA) showed on Tuesday. Developers only managed to sell 480 units last month, down from 739 units in February. From a year ago, new private home sales plunged 83 per cent from March 2013's 2,793 units. Transactions in Singapore's housing market have fallen...
Southeast Asia's largest developer CapitaLand has announced plans to take its shopping arm private. CapitaLand is offering S$2.22 per share for all remaining shares in CapitaMalls Asia (CMA) that it does not already own, thus valuing the planned purchase at more than S$3 billion. CapitaLand said it wants to sharpen its competitive edge in the integrated development space where it sees opportunities,...
The government is considering allowing some couples to co-rent larger flats under the Parenthood Provisional Housing Scheme (PPHS), National Development Minister Khaw Boon Wan said. He said more than 900 of the 1,150 PPHS flats have been taken up, but there are still some larger flats available. He added the number of applications per month peaked at 409 last September but has since dropped to...
The Housing and Development Board (HDB) last month revised its resale flat policy to require buyers to sign the option to purchase before getting a valuation, effectively consigning the concept of cash-over-valuation (COV) to history. As expected, there has been some confusion since, as buyers and sellers look for new ways to find the “market price” of resale flats offered for sale. Some industry...
SRX data shows resale volume of private non-landed homes has rebounded 82.6 per cent month-on-month in March, the highest resale volume since October 2013. An estimated 451 resale transactions were registered in the month of March. On a year-on-year basis, resale volume still posted a 22.5 per cent drop compared to 582 units resold in the same month of last year. But resale prices remained...
Buying activity in Singapore's private residential market remained tepid in the first quarter of this year. Property consultancy DTZ said in its latest report that only 906 private homes changed hands in the secondary market in the first quarter. This was a 34 per cent quarter-on-quarter decline or 62 per cent decline year-on-year. DTZ attributed the slower activity to buyers becoming more...
The tenders for the first two industrial land parcels in the Industrial Government Land Sales (IGLS) Programme for the first half of this year closed on Tuesday with healthy interest, although the offers were relatively conservative, analysts said. The tender for Plot 45 at Tuas South Street 6 attracted eight bids, with the highest bid from SH Design & Build at S$5.3 million or S$70.17 psf ppr. Down...