Suntec Real Estate Investment Trust (Suntec REIT) is acquiring a one-third stake in Marina Bay Financial Centre for S$1.5 billion. Under the transaction, Suntec REIT will purchase Marina Bay Financial Centre Tower 1 and 2, the Marina Bay Link Mall and 695 car park lots. The REIT has entered into a conditional share purchase agreement for the property with Choicewide Group Limited, Cavell Limited and...
General
The last 30 units at CityVista Residences has been sold for about $147 million. The buyer is said to be a property fund managed by Alpha Investment Partners - a unit of Keppel Land. The 20-storey freehold project of 70 units in the Cairnhill area received Temporary Occupation Permit (TOP) recently. The transaction involves 28 apartments (three and four-bedroom) and two penthouses. The price for the...
Starhill Global REIT on Tuesday said that its distribution per unit (DPU) for the third quarter improved by 5.3 per cent. It announced a DPU of 1 cent, up from the 0.95 cent declared in the year-ago period. Distributable income rose by 5.8 per cent on-year to S$19.4 million, while net property income was up by 37 per cent on-year to S$35.8 million. Starhill said the improvement in net property income is...
The Urban Redevelopment Authority (URA) on Tuesday launched two residential sites at Punggol Central/Punggol Walk and Seletar Road for sale via public tender. They are launched for sale under the Confirmed List of the second half of 2010 (2H2010) Government Land Sale (GLS) Programme. Together, the two residential sites can potentially yield about 1,080 housing units and will offer property-buyers with...
The Housing & Development Board (HDB) said on Tuesday it was launching two new BTO projects -- Senja Parc View in Bukit Panjang and Anchorvale Horizon in Sengkang. A total of 1,322 flats will be offered. The units will comprise studio apartments, and two- to five-room flats. Some 95 per cent of the public flat supply will be set aside for first-timer households. Including the launch on Tuesday, HDB...
Residents of Punggol South can soon look forward to more amenities. Their Member of Parliament, Teo Ser Luck, said the younger towns will have childcare centres in the next three years. There will also be fitness centres for the elderly in the Hougang precinct that forms part of Punggol South. He is also looking at providing more multi-storey car parks in the new estates. The newer precincts in Buangkok...
Singapore's real estate investment trusts (REITs) have risen more than 140 per cent since March 2009 and their value could go up by another 60 per cent, according to analysts. REITs are currently offering juicy yields, which may start looking less attractive to investors when Singapore government bond yields start to climb higher. Even then, analysts said there still are some standout performers among...
Wing Tai Holdings say its first quarter net profit fell 35 per cent on-year, to around S$30.2 million. Meanwhile, revenue for the same period fell 52 per cent to S$131 million. The company says the drop in profits was on the back of lower revenues earned for the quarter. The company says that in the current quarter, it officially launched Belle Vue Residences, which to date has seen 65 per cent of its...
Mainboard-listed MCL Land said its third quarter net profit rose 28 per cent to US$172 million despite a 14 per cent decline in revenue to US$362 million. The developer said its profit rose due to the recognition of sales on the completion of two developments - Waterfall Gardens and D'Pavilion. The results also included a US$51 million reversal of a write-down on The Estuary development. The group added...
The Housing and Development Board (HDB) has awarded the land parcel at Pasir Ris Drive/Elias Road to joint bidders ChoiceHomes Investments and CEL Developments for S$89.89 million. They had submitted the highest of the six bids received at the close of the tender on October 21. The land parcel, which is for Executive Condominium (EC) housing development, has a site area of over 15,100 square metres and a...