Mainboard-listed Cambridge Industrial Trust (CIT) is acquiring several properties for some S$37.1 million. It said on Friday that it is entering into two separate put and call option agreements to acquire an asset located at 22 Chin Bee Drive and another located at 1 & 2 Changi North Street 2. The building at Chin Bee comprises two levels of warehousing facilities and a mezzanine level of office...
General
Mainboard-listed Wheelock Properties on Friday said its profit for the six months ended June more than tripled on-year to S$133.9 million. Its revenue rose 74 per cent to S$283.9 million. Meanwhile, for the second quarter, its profit more than doubled to S$83.5 million compared to the same period last year. Revenue for the quarter also doubled to S$177.3 million. The group said turnover was driven by...
Conglomerate Fraser and Neave (F&N) has posted a 13.9 per cent on-year increase in net profit to S$132.7 million for the third quarter ended June. Revenue for the three months rose 7.6 per cent to S$1.4 billion. F&N said its property arm registered higher earnings due to strong rental income, recognition of pre-sold projects and recovery in its core residential markets. Its soft drinks, dairies...
Global financial services provider AXA will become the anchor tenant for the office building, 8 Shenton Way, located within the Central Business District. The group has worked out the agreement with MGPA, a private equity real estate investment advisory company, which owns the building. Under a six-year term, AXA will occupy five floors totaling about 70,000 square feet. The company has an option to...
Construction and property firm Chip Eng Seng on Friday said its first-half net profit rose 76.1 per cent on-year to S$47.2 million. This is on the back of a 53 per cent on-year increase in revenue to S$225 million. Meanwhile, for the second quarter ended June, its profit increased 55.5 per cent on-year to S$22.4 million. Its revenue surged 83.5 per cent to some S$125 million. The group said the better...
onstruction firm Wee Hur Holdings on Friday said its first-half net profit rose 19 per cent on-year to S$10.4 million. This is despite revenue for the period falling 41 per cent to S$63.4 million. Wee Hur said revenue declined as new major construction projects are still in their early stages of work in progress and hence have lower revenue recognition. The firm said its newly-acquired subsidiary...
Recent launch prices for condos in outlying areas way above existing properties The confirmation of the positive numbers for the private residential sector in Singapore for 2Q2010 appears to have unleashed another wave of buying onto the market. From landed homes to HDB flats, the market is awash with liquidity. My colleagues in the appraisal department tell me that the rising prices for properties not...
Kirin's investment spurs talk that property arm may be hived off and it is certainly strong enough to stand on its own The entry of Kirin Holdings, one of Japan's largest brewers, as a strategic shareholder of Fraser and Neave (F&N) is making many observers once again ponder the likelihood of a split of the local conglomerate into three units - or at least for F&N to hive off its property arm as...
Property developer Tang Suites' latest project is the six-storey Dorsett Residences, located in Chinatown. The 68 units have average indicative prices of $1,800 per square foot. The luxury property is part of a mixed development, which combines commercial retail space with the 285-room Dorsett Regency Hotel. Buyers can choose from 24 units of one-bedroom homes at 484 to 667 sq ft each, 40 units of 2...
Government to ramp up flat supply for middle-income home buyers The executive condominium (EC) market looks set to stir when new projects are launched over the next three to six months. According to property consultancy CB Richard Ellis, ECs are making a comeback after a hiatus of five years as the Government steps in to ramp up flat supply for middle-income home buyers. Four new EC projects in...