K-REIT Asia said on Tuesday that investors will most likely enjoy a higher distribution per unit (DPU) of at least 7.16 Singapore cents by the end of 2012. K-REIT announced yesterday an 11.1 per cent increase in its DPU for the year ended December to 7.08 Singapore cents. The DPU for last year includes two weeks' rental income contribution from Ocean Financial Centre (OFC), which was completely acquired...
General
National Development Minister Khaw Boon Wan has said the government will continue to release sites via the Government Land Sales Programme to ensure there is sufficient commercial and industrial space to meet demand over the medium term. He said this will ensure that prices are not out of line with economic fundamentals. Mr Khaw said prices of commercial and industrial spaces have risen following the...
Singapore's first integrated waterfront residential and retail development, Watertown, has been launched in Punggol Central. The project, which costs more than S$1.6 billion, is a joint venture between Far East Organization, Frasers Centrepoint and Japan's Sekisui House. It includes 992 residential units, which will be open for sale within the next two weeks. Prices begin from S$1,080 per sq...
Annual growth in real estate investment in China, a main driver of the economy, slowed last month to its lowest pace in a year, falling in tandem with property sales revenues. Property investment grew 12.3 per cent last month from a year earlier, down from an annual rise of 20.2 per cent in November and 25 per cent in October and September, according to Reuters calculations based on official data released...
Sales of new private homes in Singapore fell 62.9 per cent in December, based on latest data released on Monday. The Urban Redevelopment Authority (URA) said a total of 632 units were sold last month excluding executive condominiums. That's significantly lower than the 1,702 private homes sold in November. Around 489 units were sold in the outlying areas or outside central region while 108 private homes...
National Development Minister Khaw Boon Wan has said imposing an income ceiling for resale flats will deprive flat owners of the full market value of their flats. He was answering a question in Parliament on Monday on whether the ministry would consider limiting the sale of 3-room or smaller flats to lower income Singaporeans. Chua Chu Kang GRC MP Zaqy Mohamad noted that the Cash-Over-Valuation (COV) for...
The one-north area is coming alive with the opening of the One-North Circle Line MRT station and the recent completion of The Rochester, a mixed-use development by United Engineers with 366 apartments including SOHO-style lofts, a 271-room business hotel- cum- serviced suites called Park Avenue Rochester and a 10,000 sq ft mall called Rochester Mall. The 99-year leasehold development is also within walking...
The Chinese capital city of Beijing will maintain restrictions on home purchases this year to continue to cool the property market, the Dow Jones news agency reported Friday, citing the city's Mayor. Housing prices in the city fell 11.3 per cent last year, while private home sales fell 14 per cent in the period. First-time home buyers accounted for nearly 90 per cent of all sales last year, said Beijing...
A unit of City Developments Ltd has acquired Thailand Shareholder Investments for US$157.6 million (S$202.9 million). Vinemont Investments, an indirectly owned unit of City Developments, bought the company from Real Estate Capital Asia Partners, the Dow Jones news agency reported. Thailand Shareholder Investments has shopping mall interests in retail and hotel properties in Bangkok and Phuket island in...
It has been more than a month since the introduction of the additional buyers' stamp duty for private home purchases. While the mood has lifted somewhat - many market watchers now expect a smaller price decline of about 10 per cent instead of the 30 per cent talked about in early December - the pessimism among local investors and developers remains. The new rules require every foreign buyer to pay a stamp...