The Urban Redevelopment Authority (URA) has closed the tender for a commercial site at Paya Lebar Road and Eunos Road 8 after receiving 10 bids. The highest bid of S$585.6 million came from joint bidders Siong Feng Development, Guthrie, and Sun Venture Commercial. The land parcel has a site area of 14,851.6 square metres and a maximum permissible gross floor area of 62,377 square metres. The site was...
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Mapletree Logistics Trust on Thursday said its first-quarter distribution per unit (DPU) rose 3.3 per cent on-year to 1.55 cents. The Trust said its DPU increased by a lower percentage due to an enlarged number of units from the equity fund raising exercise in the last quarter of the financial year in 2010. Distributable income rose by 21.7 per cent on-year to S$37.5 million while net property income...
Singapore’s recent rounds of property cooling measures have started to take their toll, according to Keppel Land. Based on the preliminary projections from the Urban Redevelopment Authority (URA) in the first quarter of this year, approximately 3,700 new homes were sold, 12.7 percent lower compared to Q4 last year. Home prices climbed at a slower rate of 2.1 percent in Q1, registering the sixth straight...
A consortium comprising Heeton Holdings, KSH Holdings and TEE International have sold 39 units at its latest luxury residential development, The Boutiq, located at 143 / 145 Killiney Road. “Our collaboration with KSH Holdings and TEE International has resulted at the development that is set to revitalise the Killiney neighbourhood, and raise the bar in luxury urban living standards,” said Mr. Danny...
Sales of luxury homes in Singapore have remained low due to the economic crisis in the US and Europe, though buyers are slowly returning, according to a top executive of Heeton Holdings. Danny Low, Chief Operating Officer of Heeton, said the low luxury home sales in the country can also be attributed to the increasing number of locations competing for high-end buyers. Mr. Low was speaking during the soft...
CapitaMall Trust Management said its distribution per unit (DPU) for the first quarter stood at 2.29 Singapore cents. That is up three per cent from the 2.23 Singapore cents reported in the same period a year ago. The trust said that this is largely due to contributions from Clarke Quay, which was acquired in July 2010, as well as robust rental renewals. Net property income for the quarter ended March...
Industrial property markets worldwide showed signs of recovery in the second half of 2010, led by the Asia Pacific region. This is according to a report by international property consultant, Colliers International, which tracked the performance of industrial property rents across 150 cities. Singapore retained its position as the seventh most expensive location for prime warehouse space at US$15.71 per...
Ascott Residence Trust said its distribution per unit rose 29 per cent to 2.14 Singapore cents in the first quarter. That is mainly due to contributions from the 28 properties acquired by Ascott Reit last year. The real estate investment trust said that revenue for the first quarter climbed 55 per cent to S$67.3 million. It expects to deliver the forecast distribution of 7.74 Singapore cents for the...
The tender for Pine Grove - possibly the most expensive property to go enbloc - closed on Tuesday. Its marketing agent Jones Lang LaSalle declined to comment if any bids were received for the tender, or when the results of the tender will be released. Pine Grove is an 893,000 square feet property at Ulu Pandan. It went up for sale in early March. The new development can yield a gross floor area of 1.88...
CapitaCommercial Trust (CCT) and its parent company CapitaLand plan to jointly develop Market Street Car Park into a office tower. The project cost is estimated to be about S$1.4 billion. In a joint statement, both companies said that based on this figure, the development is considered financially viable. The stabilised yield from the completed development is expected to exceed 6 per cent per...