Leasing demand for residential properties in Singapore remained robust in the first two months of this year as transactions hovered above 3,000 each month, according to Savills Research. Its data showed that there were 3,446 leasing transactions in February 2012, down 5 percent on-month. But Savills said February's transactions were still higher than the 2,767 transactions recorded a year ago. Based on...
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JTC Corporation has put up an industrial site at Tai Seng Link for sale by public tender on Tuesday. The 0.43-hectare site has a lease of 30 years and a maximum permissible gross plot ratio of 2.5. It has been zoned for B2 clean and light development, JTC said. The Tai Seng Link site could potentially attract between eight and 17 bidders, said Nicholas Mak, executive director for Research &...
Fragrance Group and World Class Land (WCL), the property development subsidiary of Aspial Corporation announced the incorporation of a special purpose company -- Bayfront Ventures -- on Tuesday. This is in conjunction with the proposed acquisition of Keypoint for S$360 million from British and Malayan Trustees, the trustee of Frasers Commercial Trust. Keypoint is a 25-storey commercial development...
Mapletree Industrial Trust (MIT) recorded a distribution per unit (DPU) of 2.22 Singapore cents for the fourth quarter of its fiscal year. This is 2.8 per cent higher than the third quarter and 15 per cent higher than the corresponding period of the previous year. For its full fiscal year, the real-estate investment trust (REIT) recorded a DPU of 8.41 cents, beating its own forecast by 12.7 per...
Suntec Real Estate Investment Trust (Suntec REIT) has reported a first quarter distribution per unit (DPU) of 2.45 Singapore cents. This is 2.7 per cent higher from its DPU of 2.39 cents declared a year ago. The trust said its annualised distribution yield stood at 7.8 per cent, compared to 7.6 per cent in the same period last year. Suntec REIT's gross revenue rose 20.1 per cent to S$73.3 million...
The proliferation of mixed developments in suburban areas in recent years has pushed up sales for shops substantially, with demand for strata-titled retail units experiencing strong growth. More than 600 shop units were sold last year, more than double the 300 units sold in 2009. At the Promenade @ pelikat in the Upper Serangoon area, comprising 270 retail units and 164 residential units, shop prices...
The popularity of Singapore Real Estate Investment Trusts, or S-REITS, looks set to rise, given the expectations of a stronger Singapore dollar in the year ahead. This follows the recent announcement by the Monetary Authority of Singapore (MAS) to allow the Singapore dollar to appreciate at a faster pace. Mr Liu Jinshu, deputy lead analyst at SIAS Research, said: "If they expect the dollar to appreciate,...
The Housing & Development Board (HDB) marked the end of the Main Upgrading Programme (MUP) for first-generation public housing estates on Saturday after 22 years. Speaking at the completion ceremony of the final precinct at Ang Mo Kio Avenue 10, Prime Minister Lee Hsien Loong said it is not the end of the road for government upgrading of public housing. It is now replaced by newer schemes, including...
CapitaCommercial Trust (CCT) reported on Friday a distribution per unit (DPU) of 1.90 cents for the first quarter ended March 31. This is 3.3 per cent higher than the 1.84 cents DPU CCT reported in the same quarter a year ago. CCT's distributable income for the three months rose 3.4 per cent to S$53.9 million from the previous year. In a filing to the Singapore Exchange, CCT said the higher...
The scorching pace of new private home sales continued unabated for the second consecutive month in March, when developers sold a total of 2,393 units, down marginally from February's 2,417. Sales have not only returned to the levels before the additional buyer's stamp duty (ABSD) was announced last December, as one analyst put it. Instead, it would be more accurate to say they have risen several notches...