The Building and Construction Authority (BCA) is mulling a possible law to get property owners make their existing buildings more environmentally-friendly. The rule will cover all existing buildings, with the main focus on commercial and office buildings and hotels. This could come in two to three years to help Singapore meet its goal of "greening" 80 percent of its buildings by 2030. So far, only 8...
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Sale brings in HK$8b for firm, partners as demand stays strong Sun Hung Kai Properties Ltd, the world's biggest developer by market value, has sold 300 flats at an apartment project in Hong Kong's Island South district over the past two weekends. The sale at the Larvotto project has brought in a total of HK$8 billion (S$1.4 billion) in revenue for Sun Hung Kai and partners Kerry Properties Ltd and...
CapitaLand's Australian unit, Australand, said on Tuesday that it returned to the black for the first half this year. Australand's net profit for the six months ended in June came in at 72.2 million Aussie dollars. That's a reversal of the 268.8 million Aussie dollar loss it incurred over the same period last year. Much of the improvement was due to investment property revaluation gains of 11.7 million...
Momentum of recovery in private residential rents also picked up PRIVATE home prices generally rose at a slightly slower pace in Q2 than they did in Q1, but latest official numbers show a broad-based growth in property prices - with stronger quarter-on-quarter gains for office, shop and industrial properties, as well as HDB resale flat prices in Q2 than in the first quarter. The momentum of recovery in...
Starhill Global REIT has reported a second quarter distribution per unit of 0.91 cent. This was 4.2 per cent lower than the restated 0.95 cent recorded in the previous corresponding period. Starhill's distributable income for the second quarter fell 3.6 per cent to S$17.7 million. Its net property income rose 6.9 per cent to S$28.9 million. Starhill said the increase was mainly due to its newly...
A condominium near Novena MRT is teaming up with an adjoining site for an en bloc sale. The 50-unit development Pastoral View is being offered for joint sale with an adjoining land parcel at Bassein Road. Property consultant Credo Real Estate says the sellers are looking at a price of between S$130 million and S$150 million. Credo adds that by combining the two sites, developers will find the enlarged...
First Real Investment Trust, or First Reit, says its fiscal second quarter distribution per unit was 1.92 Singapore cents. This was unchanged from the DPU posted in the year ago period. Meanwhile, distributable income for the quarter rose 0.4 per cent year on year to S$5.3 million. And its net property income gained 0.7 per cent to S$7.5 million, excluding deferred rental income of property under asset...
Mapletree Logistics Trust saw a 1.35 per cent on-year increase in its distribution per unit in the second quarter this year. Its DPU for the second quarter came in at 1.5 cents, just above the 1.48 cents announced in the same period a year ago. Distributable income rose by 7.7 per cent on-year to some S$30.8 million, while net property income was up 0.3 per cent on-year to about S$45.8...
Red-hot HDB resale market will take a year to stabilise: Mah Along with strong economic fundamentals, the red-hot HDB resale market is a result of an imbalance in demand and supply, and it will take a year or so for prices to stabilise, National Development Minister Mah Bow Tan said yesterday. In the interim, the Housing and Development Board will roll out 18,000 to 19,000 flats this year. "I hope with...
National Development Minister Mah Bow Tan said more new HDB flats will be built for first-time applicants, so as to relieve the pressure on the resale market. He said this at a grassroots event celebrating the HDB's 50th Anniversary on Sunday. It is the last leg of a series of events HDB has been conducting in the heartlands. The "Storeys of Our Homes" exhibition celebrates 50 years of public...