Cache Logistics Trust has posted a distribution per unit (DPU) of 1.94 Singapore cents for the fiscal third quarter and net property income for the quarter was S$14.36 million. This represents an increase of around 13.5 per cent when compared with the previous quarter. Meanwhile, distributable income came in at S$12.3 million, a 13.5 per cent increase from the quarter before. The Cache portfolio...
General
57 units of Hougang Green Shopping Mall is put for sale by developer Hiap Hoe Holdings. Hiap Hoe, which built the mixed residential and commercial development near the junction of Hougang Street 51 and Buangkok Green in 1997, still owns the 57 shops in the retail component. It is looking to sell the units for $78 million to $84 million, which works out to an average of $1,174 to $1,264 per sq ft of...
Prices of housing and development board properties in Singapore are expected to fall up to 10% in the next six months while those of private real estate will rise up to 7%, according to a new survey. It will create a two tier real estate system making it harder for people to upgrade in a country where property accounts for almost half of private wealth, according to the poll of property analysts by...
Come 2018, the historic Capitol Building and Stamford House will re-emerge as a luxury five-star hotel. Alongside it will be a new 15-storey retail and residence building, while the 81-year-old Capitol Theatre will be restored to its former glory to become the Republic's largest single-screen cinema cum performance theatre. These details of the $250-million winning bid - from Capitol Retail Management,...
Hong Kong luxury home prices have exceeded the previous peak of 1997, fuelling speculation the government may introduce further steps to prevent the housing bubble from bursting. Prices of apartments with an area of at least 100 sqm (1,076 sq ft) are 13.8 per cent higher than in the third quarter of 1997, the Hong Kong Monetary Authority (HKMA)said in a slide presentation posted on its website on...
The Urban Redevelopment Authority (URA) on Wednesday awarded a S$250 million tender to redevelop the 1.43 hectare land parcel at the junction of Stamford Road and North Bridge Road. The winning bid came from Capitol Retail Management, Capitol Hotel Management and Capitol Residential Development. The consortium's concept for the area envisages a mix of hotel, retail, entertainment and residential...
Frasers Centrepoint Trust (FCT), a wholly-owned unit of Fraser and Neave Group, will acquire Bedok Point Mall from its parent company by Q2 next year, said Chew Tuan Chiong, chief executive of FCT. In January, FCT paid Frasers Centrepoint approximately $290 million for two malls, the YewTee Point at Choa Chu Kang and an extension to Northpoint at Yishun through the issuance of new units and taking on more...
The Monetary Authority of Singapore (MAS) said the republic's economy is on track to grow 13 per cent to 15 per cent this year, meeting the government's forecast. In the near term, however, economic activity will continue to ease, leading to a slower, more sustainable rate of expansion in line with the city's growth potential in 2011. This was revealed on Wednesday by the central bank in its twice-a-year...
Bank Julius Baer said it has signed an eight-year lease with MGPA for a total of 71,000 square feet of office space in Asia Square's Tower 1. This makes the bank one of the key office tenants of the 43-storey commercial tower. Early last month, the leading Swiss private banking group also announced that it is growing Asia into its second home market. It said it planned to set up a Trust Company in...
Frasers Centrepoint Trust (FCT) has announced its full-year distribution per unit (DPU) of 8.2 cents. That's 9.2 per cent higher than the DPU of 7.51 cents achieved in the previous financial year. Distributable income for the year ended September 30 rose 26.1 per cent to S$59.1 million. Net property income jumped 33.7 per cent to S$80 million. FCT said the increase in revenue was boosted by the...