Office landlord CapitaCommercial Trust said its distribution per unit for the second quarter came in at 1.97 Singapore cents. When adjusted for its rights issue, the DPU is 15.2 percent higher than the 1.71 cents declared for the year-ago period. This brings CCT's first half DPU to 3.9 cents, 17.1 per cent more than the 3.33 cents DPU announced for the same period last year after adjusting for the rights...
General
Sales in first half pass $1b mark, and demand unlikely to flag: Report THE priciest homes just keep getting pricier, with the values of upmarket, prime-area bungalows rocketing this year, and sales totalling more than $1 billion in the first six months. And just to underline the boom in what are called 'good class bungalows', a Nassim Road house sold in April for $43.5 million, that is $1,800 psf and...
So, where does this leave the churches? Commercial premises cannot be owned by or exclusively leased to religious organisations, state the guidelines released yesterday. So, where does this leave City Harvest Church with its $310-million stake in Suntec Singapore? Or New Creation Church, whose business arm is partnering CapitaMalls Asia to build a $1-billion lifestyle hub in One North? The Urban...
Property consultants Colliers International says Singapore's investment sales market strengthened further in the quarter that ended in June turning in sales of S$7.11 billion. That's 24.3 per cent above the S$5.72 billion chalked up in the first quarter of this year. Colliers released the information in its latest Knowledge Report Tuesday. It found that the investment sales market was driven...
Property developer Keppel Land says its second quarter net profit rose 20.3 per cent on year to S$70 million. This was largely driven by strong residential sales in Singapore and China, and growth in its fund management and property investment businesses. But revenue for the quarter fell about 19 per cent to S$202 million. The Reflections at Keppel Bay development was one of the projects that Keppel...
Property and hospitality firm City Developments, through its subsidiary City e-Solutions, has acquired Renaissance Syracuse Hotel in Syracuse, New York. The purchase price of the hotel is US$10 million, which represents US$35,842 per key and a 14 per cent yield on 2009 net operating income. The acquisition was made through a joint venture firm, which City e-Solutions has a 50 per cent stake. The...
SINGAPOREANS who qualify for highly subsidised public rental flats but sublet them illegally will soon face tougher penalties. National Development Minister Mah Bow Tan yesterday announced changes to existing legislation giving the Housing Board the same punitive powers over public rental flats that it has over sold HDB flats. Currently, when rental flats are sublet illegally, the HDB's only recourse is...
Sun Hung Kai may put up another 50 apartments for sale this week Sun Hung Kai Properties Ltd, the world's biggest developer by market value, will put another 50 luxury apartments up for sale in Hong Kong after buyers snapped up all 92 flats in a first batch put up for sale over the weekend. The company sold the apartments at its Larvotto project at an average of about HK$40 million (S$7.1 million) per...
Two more residential sites have been made available for sale by the Urban Redevelopment Authority (URA). One of the sites, at Jalan Eunos, is launched for sale under the Confirmed List of the Government Land Sales (GLS) programme. The other site located at Buangkok Drive and Sengkang Central is being made available for sale under the Reserve List. A Reserve List site will be released for sale if a...
Holland Tower, a freehold residential apartment block in District 10, is up for sale by tender. Sole marketing agent Jones Lang LaSalle said the 21,879 square foot site is zoned for residential use and sits in the Holland Park Good Class Bungalow Area. It has a gross floor area of about 43,691 square feet and has the potential to be redeveloped into a boutique residential development of 52 units of 800...