Suntec Real Estate Investment Trust has announced that its second quarter distribution per unit (DPU) fell 6.8 per cent year-on-year. The Reit's DPU slipped to 2.361 Singapore cents per unit for the April-June period from 2.532 cents in the same period last year. Suntec said the decline is due mainly to the lower retail revenue from Suntec City Mall and the loss in revenue because of the trust's...
General
Mapletree Logistics Trust (MLT) has reported a 6.3 per cent on-year rise in its distribution per unit (DPU) for its fiscal first quarter, with its financial performance boosted by contributions from newly acquired assets in Japan, South Korea and Malaysia. Its DPU climbed to 1.70 cents per unit from April to June, up from 1.60 cents in the same period last year. Revenue rose higher to S$77.1 million, up...
The owners of 8 and 10 Chang Charn Road have put the properties up for sale. This offering represents a rare opportunity to acquire a quality 6 storey building with adjoining site with redevelopment potential (subject to local authority approval) which is zoned Business 1 and located in a Central Location. The property at 8 Chang Charn Road has showroom, warehouse and conference room on the 1st storey...
National Development Minister Khaw Boon Wan's comments in Parliament on the state of the property market illustrate the conundrum of viewing a glass of water as being half full or half empty. Noting that residential property prices have moderated in recent months, he said the various measures to cool the market "have helped buyers, including those at the middle and low end of the market". Growth in mass...
CapitaMall Trust Management Limited, the manager of CapitaMall Trust announced on Wednesday that it had achieved distributable income of S$79.6 million for the period 1 April to 30 June 2012 (2Q 2012), up 5.5% compared to S$75.5 million for the same period in 2011. Distribution per unit (DPU) for the second quarter was 2.38 cents, up 0.8 per cent from a year ago on the back of higher rents. Gross revenue...
Keppel Land almost doubled its net profit in the second quarter at S$94.7 million. That is 87.5 per cent higher for the three months ended June 30 compared to the previous year. More property sales also lifted its net profit in the first half of this year, up 76.8 per cent to S$236.6 million. Sales of homes in China doubled in the second quarter this year to 490 units. In the first half of this year,...
More homebuyers are returning to the private residential resale market as it is seen to offer better value compared to new projects launched by developers. In fact, the gap in median prices of new and resale transactions has also narrowed. That's according to real estate agency Dennis Wee Group (DWG). In a report, DWG said the caveats lodged in the secondary market climbed about 33 per cent in the...
The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the residential site at Farrer Road for sale by public tender. The land parcel was made available for sale through the Reserve List system on 30 Apr 2012. URA received an application from a developer for the site to be put up for public tender. The developer committed to bid at a price...
Ascendas Hospitality Trust has reduced the size of its initial public offering in Singapore. It is now offering 437.325 million stapled securities, a downward revision from initial plans to sell between 506.075 million and 529.648 million units. In its prospectus registered on Wednesday, Ascendas Hospitality said the shares will be priced at S$0.88 per stapled security. Ascendas Hospitality will also...
With fewer new launches during the June school holidays, property developers turned their focus to clearing off unsold units from earlier launches. 7,234 new private homes remained unsold last month, down by some two percent from May. Market watchers say these units, which were launched at prices before the recent rise in property prices, seem more like a steal compared to the newer launches. Analysts...