Mapletree Industrial Trust has reported a distribution per unit (DPU) of 1.52 cents in its first financial results for the period from its listing date of October 21 to 31 December 2010. The DPU was 13.4 per cent higher than its own forecast. Mapletree said the distributable income was at S$22.28 million, 13.6 per cent higher than the forecast made by the company in its prospectus. The trust said the...
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The Housing and Development Board is launching the tender for the sale of land at Clementi Avenue 4 under the Design, Build and Sell Scheme on January 26. The tender will close at 12 noon on March 8. The site area is 21,906.5 square metres and about 770 units can be built on the site. The lease term is for 103 years, including a 48-month construction period. The site is located in Clementi New Town,...
HDB is launching three BTO projects on Tuesday - Golden Daisy in Bukit Batok, Orchid Spring @ Yishun and Vista Spring @ Yishun. A total of 1,728 standard flats will be offered, comprising 180 studio apartments, 192 units of two-room, 252 units of three-room, 828 units of four-room and 276 units of five-room flats. 95 per cent of the flat supply, excluding Studio Apartments, will be set aside for...
Property consultant Colliers International said Singapore's property investment sales market strengthened further in the last quarter of 2010, ringing in sales of S$12.26 billion. That was up 29 per cent quarter-on-quarter, but remained lower compared to the record S$12.69 billion chalked up during the peak in the third quarter of 2007. Colliers released the information in its latest Knowledge Report on...
Frasers Centrepoint Trust (FCT) has announced a distribution per unit (DPU) of 1.95 cents for its first quarter of financial year 2011 which ended on December 31 last year. Distributable income for the quarter grew by 25 per cent on-year to hit S$15.01 million. As for net property income, it increased 16.8 per cent on-year to S$18.6 million. Gross revenue rose 18.5 per cent on-year to reach S$27.6...
Keppel Land achieved a record net profit of S$1.05 billion last year, up 273 per cent from the previous year, despite lower turnover. The stellar performance was mainly due to the S$363.8 million gain from the sale of its one-third interest in Marina Bay Financial Centre Phase 1, as well as fair value gains on investment properties, the company said. Excluding fair value gain on investment properties or...
JTC Corporation has launched an industrial site for sale by public tender. The 1.24 hectare site is located at Ubi Road 1/Ubi Avenue 4. The plot, which has a 60-year lease, was made available for sale through the Reserve List system on 30 October 2009. On December 30 last year, JTC said it had received an application from a developer to put up the land parcel for tender. The developer has committed to...
Holland Tower has been put up for en bloc by its marketing agent Jones Lang LaSalle. Market watchers expect the site to fetch about S$1,300 to S$1,400 dollars per square foot. This is comparable to nearby developments like Robin Court, Maison Royal and Serene House. The 14-story single tower development is located on a 22,000 square feet site currently zoned for residential use. Jones Lang said the new...
Healthcare trust Parkway Life Reit (P-Life Reit), on Monday reported that its fourth quarter distribution per unit (DPU) rose by 16.6 per cent on-year. For the three months ending December, P-Life Reit's DPU came in at 2.38 cents, higher than the 2.05 cents announced a year ago. DPU rose as its net property income went up by 19.5 per cent on-year to S$19.7 million. For the full year, net property income...
With improving economic indicators and rising tourist arrivals, analysts are singling out retail-linked real estate investment trusts (REITs) as good investment bets for investors. Compared with the office sector, the retail sector has remained much more resilient, said Mumbai-based financial group IIFL in its Jan 11 report. It has positive ratings on retail play REITs like CapitaMall Trust and CapitMall...