DBS Bank said it continues to be the leading underwriter of Singapore-listed real-estate investment trusts (REITs). The bank said it is leading the pack with a 30.2 per cent market share so far this year. Citigroup is second with a 22.9 per cent market share, followed by Standard Chartered Bank, which has garnered an 18.1 per cent share in REIT underwriting this year. DBS has underwritten about S$2.2...
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The Urban Redevelopment Authority (URA) has launched a "white site" for sale at Boon Lay Way. This is the second site to be made available for sale in the Jurong Lake district. The site is made available on the Reserve List under the Government Land Sales Programme for the second half of 2010. URA said developers interested in buying the site can now apply for it to be put up for tender. Successful...
Geylang is providing another housing option for those who want to buy condominium units at relatively affordable entry price levels, but which offer steady rental income, say property agents. One such example is Atrium Residences, a 142-unit freehold apartment block at Lorong 28 Geylang, which saw four transactions at prices ranging from $715 to $743 psf in the Sept 28 to Oct 5 period. Developed by niche...
City Developments (CDL) has started the private preview of a new condominium off Dunearn Road. Called Glyndebourne, the 150-unit freehold development is located at the site of the Copthorne Orchid Hotel. The sprawling 180,000-square-feet site, which is owned by CDL's hotel unit, Millennium & Copthorne Hotels, will be redeveloped. Apartments at the Glyndebourne are priced at an average of 2,050...
The Council for Estate Agencies (CEA) released new rules on Friday that will set standards and regulate the conduct of estate agency work. From 15 November, salespersons cannot represent both buyers and sellers in a property transaction under the Estate Agents (Estate Agency Work) Regulations. It will also prohibit estate agents and salespersons from handling cash in certain transactions or referring...
Southeast Asia's biggest property developer Capitaland's third-quarter net profit slumped 43.3 per cent from a year earlier to S$159.6 million. Revenue declined by 34.6 per cent from a year earlier to S$684.6 million because of lower revenue recognition upon completion of residential projects in Singapore. Loss of rental revenue following the divestment of Clarke Quay in Singapore and three shopping...
Mainboard-listed CDL Hospitality Trusts on Friday reported a higher distribution per unit (DPU) for the third quarter ended in September. It announced a DPU of 2.54 cents for the period, a 24.5 per cent jump compared with 2.04 cents in 2009. Distributable income rose 44.6 per cent to S$26.9 million, as net property income increased 40.9 per cent from a year earlier to S$30.1 million. The higher revenue...
JTC said it launched the site at the junction of Old Toh Tuck Road and Toh Tuck Avenue for sale by public tender on Friday. The 1.01 hectare site has a lease of 30 years. It is on the confirmed list of the so-called Industrial Government Land Sales (IGLS) programme. Zoned "Industrial Business 2," the site has a plot ratio of 1.6 and will be developed for use by logistics businesses. JTC said interested...
Property developers are less upbeat of the future, with nearly 34 percent of them expecting a decline in new home prices, according to the latest readings of Real Estate Sentiment Index (RESI). Following the cooling measures announced on August 30, a third of developers polled for the third quarter expect less than 10 percent decline in prices for new residential launches over the next six months. None of...
More lifestyle businesses are setting up shop at the row of six bungalows along Scotts Road. The new outlets will replace the different businesses that are housed there now including offices and an antique shop. Of the five existing tenants, only two - The Song Of India restaurant and SK-II Boutique Spa - are staying put. One of the houses will be home to a new restaurant. Health outlets, bridal shops...