CDL Hospitality Trusts (CDLHT) is widely seen by analysts as poised to acquire Studio M Hotel in the Mohamed Sultan area, possibly this year. The hotel, which opened in April last year and is owned by CDLHT's sponsor, London-listed Millennium & Copthorne Hotels, is seen by the market as a logical acquisition target for CDLHT. The trust manager's CEO Vincent Yeo said yesterday that typically it takes...
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Banks are now providing a degree of flexibility when granting loans to home buyers who are moving from one home to another. They are granting loans of up to 60 per cent of the property's value first, and increasing it to 80 per cent later. The move is introduced to help property upgraders save time and money as they navigate tricky timelines created by new property financing rules first introduced last...
The Urban Redevelopment Authority (URA) on Thursday launched the tender for the first land parcel in Paya Lebar Central. Located at the fringe of the city centre, Paya Lebar Central is slated to become a bustling commercial centre, with a mix of office, retail, hotel and attractive public spaces. The precinct has about 12 hectares of land available for development in total and a potential commercial...
Mainboard-listed CapitaRetail China Trust (CRCT) said its distribution per unit (DPU) rose 1.5 per cent in the fourth quarter to 2.07 cents, from 2.04 cents announced over the same period a year ago. Net property income over the period dipped 1.4 per cent on-year to $18.8 million, mainly due to increase in marketing and utility expenses, and higher provision for staff-related costs. Distributable income...
The Ascott, CapitaLand's wholly-owned serviced residence business unit, has entered into a joint venture with RMZ Corp, one of India's leading real estate developers, to develop a 203-unit serviced residence in Bangalore. Ascott will acquire a 50 per cent stake in the joint venture company for 151.75 million rupees (about S$4.36 million), while RMZ Corp will hold the remaining stake. The new Citadines...
Frasers Commercial Trust (FCOT) has announced a distribution per unit (DPU) of 0.25 Singapore cent for its first quarter ended December 31. This is a 4.2 per cent increase compared to the year-ago DPU, said FCOT. Total distributable income grew 4.1 per cent S$12.6 million as net property income dropped 2.4 per cent to S$22.9 million and gross revenue fell 2.3 per cent to about S$29 million. FCOT said...
Mainboard-listed CDL Hospitality Trusts has announced a 4.1 per cent on-year increase in its distribution per unit (DPU) to 2.78 cents in the fourth quarter of 2010. For the full year, the trust said DPU rose 19 per cent to 10.2 cents, compared to the 8.57 cents distributed in the previous year. It said the increase came on the back of improved hospitality performance in Singapore and contribution from...
Starhill Global REIT said on Wednesday that its distribution per unit (DPU) for the fourth quarter improved by 7.2 per cent. It announced a DPU of 1.04 cents, up from the 0.97 cents declared in the year-ago period. Distributable income rose by 7.6 per cent on-year to $20.2 million, while net property income was up 37 per cent on-year to $36.7 million. Starhill said the improvement in net property income...
New housing guidelines have been developed for the Tianjin Eco-city, which is a joint collaboration between China and Singapore. Under the new framework, at least 20 per cent of residential units will be set aside for public housing. On a visit Tianjin, Singapore's Minister for National Development, Mah Bow Tan, said the new model of public housing will tap on Singapore's housing experience. These...
Moody's Investors Service expects continued growth in Singapore Real Estate Investment Trusts (S-REITs) this year in an environment of low interest rates, supportive capital markets and improved economic sentiment. In a special report, Moody's associate analyst Alvin Tan said the S-REITs will use their well-capitalized balanced sheets to fund their acquisitive growth strategies this year. The report...