Suntec Real Estate Investment Trust (Suntec REIT) has reported a 6.2 per cent on-year decline in distribution per unit at 2.326 cents for the fourth quarter of 2012. In a statement, ARA Trust Management (Suntec) Limited, manager of Suntec REIT, said its income available for distribution fell 5.3 per cent on-year to S$52.39 million in the fourth quarter. It added that fourth-quarter gross revenue and net...
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Mapletree Industrial Trust has raised its distribution to unitholders for its fiscal third-quarter by 7.4 per cent from a year earlier, thanks to higher rentals and improved occupancy rates at some of its properties. Distribution per unit for the three months ended Dec. 31 was 2.32 Singapore cents, compared with 2.16 Singapore cents in same period last year, the real-estate investment trust said in a...
Frasers Centrepoint Trust’s (FCT) first quarter distribution per unit (DPU) increased 9.1 per cent on-year to 2.4 cents from 2.2 cents. That was FCT’s highest ever first quarter DPU. Gross revenue went up 5.8 per cent on-year in the three months ended Dec.31 to $37.9 million, while income available for distribution rose 10.8 per cent on-year to hit $21.8 million. The strong quarterly earnings came...
A former property agent has been sentenced to 24 weeks' jail for forgery, cheating and counterfeiting stamp certificates. Andrew Sng Chin Lee, 43, who was an estate agent with HSR International Realtors, pleaded guilty to four charges under the Stamp Duties Act. The father-of-three was also guilty of another three charges of cheating and forgery. Four similar charges were taken into consideration. He...
Singaporean property investors are already looking overseas in ever larger numbers after the introduction of the most recent attempts to cool the local market earlier this month. Developers and agents reported raised levels of interest and strong sales at the 14 overseas property exhibitions which took place last weekend. Although no official records are kept for the number of Singaporeans buying...
Global Logistic Properties Limited (GLP) will invest more than S$100 million (US$82 Million) in rooftop solar panels on twenty-two properties in Japan to promote renewable energy generation and create a new revenue stream. “As a leading developer of large-scale, modern and environmentally-friendly logistic facilities, we are delighted to announce the launch of this exciting project”, said Yoshiyuki...
Property analysts said developers will probably have to get more creative in order to move sales after the introduction of new cooling measures recently. One developer told Channel NewsAsia that it is planning to complete its condominium project a year ahead of schedule to entice buyers. To date, 380 of the 500 units launched at La Fiesta at Sengkang have been sold. There are 810 units at La Fiesta in...
Married couples with children below the age of 16 will now stand a better chance at securing a new public housing flat. Some analysts added this may also bring down the cash premium for resale public flats as demand is driven to the Build-To-Order market. Twenty-seven-year-old Mohamed Rafie has been trying to secure a new public housing flat for two years. He and his wife have been unsuccessful in all...
A good class bungalow (GCB) at 8 Chee Hoon Avenue will be auctioned next month and is expected to fetch S$23 million, said marketing agent Savills. With a land area of 15,184 sq ft, the elevated site offers a 37m frontage. It is within close proximity to various amenities like the Botanic Gardens, Cluny Court and Serene Centre, as well as reputable schools. The bungalow will be put under the hammer on 27...
City Developments third-quarter profit rose 1.8 per cent, helped by contributions from its office buildings. Net income for the 3 months ended September 30 was S$134.5 million up from S$132.1 million a year earlier. Sales increased 3.4 percent to S$832.9 million. Pretax profit from its rental properties including office buildings more than doubled to S$71.2 million. “While the outlook for the property...