Some Singapore real estate agencies are wooing Chinese investors to buy properties here. They are doing so by having a representative office in China and networking with private bankers to reach prospective buyers. These initiatives have benefited HSR International Realtors and ECG Property. It is not just about the property for most Chinese investors, it is the lifestyle. Property agencies said that...
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CAPITACOMMERCIAL Trust (CCT) reiterated last week that it will not distribute a special payout to unit-holders when it completes its $380 million sale of StarHub Centre in September. Likewise, it did not return proceeds to shareholders when it completed the sale of Robinson Point in April. The trust has said it is setting aside the net cash proceeds from these two divestments - totalling about $577.5...
Mainboard-listed CDL Hospitality Trusts on Wednesday reported a higher distribution per unit (DPU) for the second quarter ended in June. It announced a DPU of 2.57 cents for the period, a 36 per cent on-year jump compared to last year's 1.89 cents. Distributable income rose by 38.7 per cent on-year to S$24.1 million while net property income increased 49.2 per cent on-year to S$28.7 million. The Trusts...
The Ascott, CapitaLand's wholly-owned serviced residence business unit, has expanded its presence into Bali, Indonesia. It has won a contract from Indonesian developer PT Rudy Indopratama Sejahtera to manage a 174-unit serviced residence in Kuta, to be called Citadines Bali Kuta. The new serviced residence, which is targeted to open in 2012, will be located on the main arterial road of Jalan Raya Kuta,...
Frasers Commercial Trust on Wednesday announced a distribution per unit of 0.25 cents for the fiscal third quarter. This is an increase of 39 per cent compared to a year ago. Meanwhile, net property income for the period grew 33 per cent to S$22.7 million and distributable income rose 39 per cent to S$7.7 million. The growth was mainly due to contributions from Alexandra Technopark, the strengthening of...
Ho Bee Investment says unit Ho Bee Developments has submitted the highest bid of $410.99 million for the land parcel located at North Buona Vista Drive under a sale of site for commercial development by JTC Corporation. The site with a land area of 17,994.4 sqm, is located next to the Buona Vista MRT station. The total allowable gross floor area is 111,565 sqm, out of which 2,000 sqm is to be set aside...
The Housing and Development Board (HDB) is investigating 300 cases for unauthorised subletting with four owners losing their units and six fined for illegal subletting so far. This comes after HDB stepped up enforcement against unauthorised subletting and conducted 2,600 checks on HDB flats in the first five months of this year. Of the 300 cases, 59 cases are suspected to have infringed the subletting...
Mapletree Logistics Trust has been agreed to acquire the following properties in Japan Kabushiki Kaisha A-Max to acquire the following properties in Japan: * Iwatsuki Logistics Centre: a distribution centre with ancillary office located in Iwatsuki, Saitama Prefecture with gross floor area (GFA) of 30,000 sqm. * Iruma Logistics Centre: a distribution centre with ancillary office with GFA of 26,000 sqm,...
Homegrown building construction company Lian Beng has reported a profit of S$24 million for the full year ended May. This was a 41.3 per cent increase compared to the same period a year ago. The company said this was driven by strong performance across the construction, property development and ready-mixed concrete divisions. Revenue for the year stood in at S$345.7 million, a 12.1 per cent increase...
Real estate firms in Singapore have axed thousands of agents, ahead of the regulatory framework to be implemented by the National Development Ministry. The framework seeks to professionalise the industry, with the introduction of a new statutory board, known as the Council for Estate Agencies, and enhanced regulatory guidelines. Channel NewsAsia understands that a Bill for the framework could be...