Housing prices in Singapore could fall 10 to 15 percent in the next 12 months, according to a report by UBS. UBS claimed that while the property market remains resilient despite the government’s cooling measures, it is near a tipping point. However, this outlook is significantly more pessimistic than other expert predictions which expect stable prices or a lesser decline of up to five percent. While...
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Property consultancy Jones Lang LaSalle (JLL) today announced its acquisition of property advisory firm Credo Real Estate. Karamjit Singh, Credo's Managing Director, said he hopes the move will help his company increase market share both locally and overseas. “The key driver behind this deal was the culture and values that we share with Credo; we are a people business and our success is based around...
A family-owned company is putting three properties put up for sale by tender. They are a large vacant Good Class Bungalow (GCB) plot at Holland Rise/East Sussex Lane, a freehold industrial redevelopment site at New Industrial Road, and a former cinema space at Sultan Plaza, on Jalan Sultan. According to the marketing agent Credo Real Estate, these three properties belong to a family-owned company. A...
Ascendas Hospitality Trust has received strong demand for its initial public offering. A total of over 437 million stapled securities were offered for subscription at S$0.88 per stapled security. At the close of the public offer at 12 noon on July 24, there were more than 17,000 valid applications for about 485 million stapled securities. The placement tranche of 355 million stapled securities, offered...
CapitaRetail China Trust (CRCT) has reported higher distribution per unit (DPU) of 2.41 Singapore cents for the second quarter of 2012. This is an increase of 12.1 per cent over the 2.15 cents in the same period last year. Gross revenue for the three months ending June 30 increased 24.3 per cent year-on-year to S$38.1 million, while net property income was up 20.9 per cent year-on-year to S$24.9 million....
Starhill Global REIT (SGREIT), owner of the Wisma Atria shopping mall in Orchard road, on Tuesday reported a 3.8 per cent increase in second quarter distribution per unit to 1.08 cents, from 1.04 cents a year earlier. Net property income for the three-month period rose 4.4 per cent to S$37.1 million. Revenue for the period ended June increased 4.8 per cent to S$46.4 million, up from S$44.2 million in the...
Mapletree Industrial Trust (MIT) on Tuesday reported a 14.1 per cent year-on-year increase in its first quarter distribution per unit (DPU) to 2.26 cents. The DPU was up from the 1.98 cents DPU it posted in the same period a year ago. Distributable income for the quarter ended June also rose by 27.1 per cent to S$36.9 million from S$29 million last year. The trust, partly-owned by Temasek Holdings,...
Ascendas India Trust has reported a 20 per cent drop in its distribution per unit to 1.20 Singapore cents for the first quarter ended June. This was mainly due to a weaker rupee which helped to reduce the trust's distributable income by 19 per cent to S$9.2 million. In the past year, the Singapore dollar has risen 20 per cent against the Indian rupee. Still, the trust's total property income rose by 3...
The chill winds blasting through financial markets have hit rents for luxury properties in Hong Kong as banks lay off high earners and international companies cut back on expatriate packages, property brokerage Jones Lang LaSalle said on Monday. With luxury homes costing HK$100 million (S$16.2 million) or more, rental yields for high-end homes already yield less than 2 per cent, a return set to dwindle...
Pan Pacific Hotel Group said serviced apartments is a unique growth segment in Myanmar. The Singapore listed group had acquired a hotel in the former capital, Yangon, eleven years ago and branded it as part of its Park Royal hotels chain. And now that Myanmar's economy is opening up, the Group said its investment in the country is paying off. Pan Pacific Hotel Group's CEO, Patrick Imbardelli, said:...