Office landlord CapitaCommercial Trust (CCT) said today that its distribution per unit (DPU) for the third quarter came in at 1.99 Singapore cents, 7.6 per cent higher than the 1.85 cents declared the same period a year ago. This brings CCT's year to date DPU to 5.89 cents, 13.7 per cent more than the 5.18 cents DPU announced for the same period last year. According to analysts, the growth in CCT's...
General
Private home transactions in the secondary market slowed down significantly in September over the previous month following the August 30 announcement of property cooling measures. Based on the analysis of URA Realis caveats data as of October 19, the number of subsales slid nearly 52 percent month-on-month in September, while resales of private homes declined 42 percent over the same period. The sales...
Lesser property agents will be plying the trade from next year. The property industry is bracing itself for a mass cull of estate agents as the Council for Estate Agencies (CEA) begins operations tomorrow. Agency bosses estimate that the current national 30,000-strong pool of agents will fall by a third to about 20,000 due to stricter standards. The new regulations mainly involve the strict enforcement...
Keppel Land has posted a 10-per-cent decline in its third quarter net profit to $70.1 million from a year ago. This is largely because of lower revenues from its hotel and resort, and property trading segments. For the three months ended Sept 30, the developer posted sales of $149 million, down 34.5 per cent on-year. On the residential front, KepLand said there is cautious sentiment in the market...
The law which governs foreign ownership of landed residential property here will be amended to make it costlier for foreign developers to speculate. The Bill to amend the Residential Property Act (RPA) also aims to increase the penalties imposed on foreigners who flout the rules. The Act which was first introduced in 1973, mandates that 'foreign' housing developers (developers with overseas shareholders...
Citizens and permanent residents who cut their ties with the Republic cannot expect to continue owning landed property in the city. That is the message the Singapore government is sending through the Residential Property (Amendment) Bill, tabled in Parliament on Monday. Analysts said the Bill puts former citizens and PRs in the same boat as foreigners when it comes to landed houses. Individuals who give...
Marine Point, a freehold 18-storey residential block along Marine Parade Road, is up for collective sale. Covering an area of more than 50,000 square feet, the site can be re-developed into a 25 storey block to accommodate about 100 apartments averaging 1,000 square feet each. ERA, which is handling the collective sale, said more than 80 per cent of the owners by share value and strata floor area have...
Residents of Waterview @ Tampines get to enjoy the serenity of the surrounding and also the breathtaking scenery of the Bedok Reservoir which offers an astonishing array of activities. One will never run out of fun filled sports activities like the 4.3km jogging track, Cycling Track, Children’s Play equipment, Fitness corner, People’s Assocation Water Venture and Fishing Area which enable the...
The Urban Redevelopment Authority (URA) has accepted an application from a developer to put up the industrial site at Pioneer Road North/Soon Lee Street for sale via public tender. The developer has committed to bid at a price of not less than S$13.8 million in the tender for the land parcel, which was made available for sale through the Reserve List system on 27 May 2010, URA said in a statement. The...
Mainboard-listed CapitaRetail China Trust (CRCT) said on Wednesday that its distribution per unit (DPU) rose in the third quarter. DPU for the third quarter was 2.08 cents, three per cent higher than the 2.02 cents announced over the same period a year ago. Net property income over the period showed a 4.3 per cent on-year increase to S$19 million. This was largely attributed to better performance at...