Mainboard-listed Ascott Residence Trust has reported a slight increase in its distribution per unit in the second quarter. Its Q2 DPU came in at 1.87 cents, four per cent higher than the 1.79 cents DPU announced in the year-ago period. Distributable income rose five per cent on-year to S$11.5 million, while revenue was up three per cent on-year to S$44.4 million. Ascott attributes the increased revenue...
General
The number of commercial units, typically shophouses and strata units for office and shops, sold in 1H 2010 remained similar to that in 2H 2009. A total of 495 commercial units were transacted in 1H 2010, reflecting a 4 per cent decrease compared to that in 2H 2009. Although economic conditions have tremendously improved in 1H 2010, the number of commercial properties transacted was subdued, underpinned...
Despite changes in the Land Strata Titles Act, developments are continuing their en bloc runs Property owners with en bloc sale aspirations seem unfazed by the new provisions to the Land Strata Titles Act which took effect last week as a number of them are still proceeding with their collective sales as planned. Developments such as Allsworth Park, Mayfair Gardens, Thomson View and Shenton House are...
Hong Leong Holdings will be launching its residential development, The Scala. The developer said a private preview will be held a day earlier and where the selling price of the units will be unveiled. The 99-year leasehold project is located along Serangoon Avenue 3. It is linked directly to Lorong Chuan MRT station via a covered linkway and near to the new NEX Mega Mall. It comprises five residential...
Suntec Real Estate Investment Trust (REIT) on Thursday said it will distribute 2.53 cents per unit in the second quarter. This is down 15 per cent from the DPU of 2.98 cents in the year ago period. Suntec REIT said its distributable income came to S$45.93 million for the quarter. This is a slight dip of about 4 per cent from S$47.77 million a year ago. The trust said its annualised yield stands at 7.7...
CapitaMall Trust (CMT) says it wants to participate in greenfield development projects to further grow its distribution per unit (DPU). This will be on top of its existing strategy involving active leasing, assets enhancement and selective acquisition of yield accretive projects. CMT made the comments at its results briefing on Thursday. CMT saw positive growth in the first six months of the year,...
CapitaMall Trust says its second quarter distribution per unit rose 7.5 per cent on-year to 2.29 cents. It announced a DPU of 2.13 cents in the year-ago period. Second quarter distributable income also rose 7.5 per cent on-year to S$73 million, while net property income gained 5.3 per cent to S$98.7 million. CMT says the improved performance was driven mainly by higher rental rates for new and renewed...
A home is a place of residence or refuge and comfort. It is usually a place where an individual or usually a family can rest and relax, communicate, share, feast and be able to collect and store their personal properties. Therefore it is important that when you consider a place to call your home, it must be a safe and pleasant place to be in. Buying a house is more often than not, the single largest...
Mainboard-listed construction firm Wee Hur Holdings has exercised its option to purchase a property at No.459, MacPherson Road for S$3.85 million. The firm says the purchase price and costs of redevelopment will be financed by internal funds and bank borrowings. Subject to obtaining all the necessary approvals from the relevant authorities, the firm intends to redevelop the property for investment...
Property watchers have warned that the value of developments in flood-prone areas could suffer if the problem of flooding is not fixed. They said prices and rental rates for residential and commercial properties could fluctuate if the problem continues for another three months. This may force businesses to move out. Landlords may have to lower rent or take measures to prevent flooding to attract...