Mapletree Logistics Trust says its distribution to unit holders for the first quarter is 1.5 cents per unit, up 2 per cent from a year earlier. Total amount distributable for the three months ended March rose 7.8 per cent to S$30.8 million. Meanwhile, net property income edged up 0.9 per cent to S$45.8 million. The trust's manager says the improvement is largely due to lower property expenses and...
General
Frasers Commercial Trust (FCOT) announced a second quarter distribution per unit (DPU) of 0.32 Singapore cents for the period ended March 31. That is 78 per cent higher from the 0.18 cents in the same quarter last year. The growth came on the back of a 167 per cent increase in total distributable income to S$14.5 million from S$5.42 million from the second quarter last year. However, distributable...
The owner of Grangeford Apartments will receive about S$7.4 million in damages over its apartments which were illegally rented out. Cove Development will receive the amount, which includes interest, from Ideal Accommodation. Both sides agreed on this at a court hearing on Wednesday. Last year, Ideal was been charged with violating the Planning Act. It illegally rented 171 units of the apartments...
TWO key interest rates that determine how much your home loan costs are near their all-time lows but borrowers taking out new mortgages may not be better off. Borrowers usually benefit when these measures drop but this time banks are responding to the riskier economic climate and surging property market by charging more for loans. The most well-known of these measures - the three-month Singapore...
CAPITAMALL Trust (CMT) yesterday posted sterling first-quarter results, adding that it expects an even stronger showing as the economic rebound aids the shopping malls in its portfolio. An increase in gross revenue, thanks in part to the full contribution from Sembawang Shopping Centre after an upgrade, drove a 13.6 per cent surge in distributable income to $71.1 million. Distribution per unit (DPU)...
JEWELLERY retailer Aspial Corp has gone back into the property scene to snap up Changi Complex in a collective sale deal for $54.3 million. It will also have to pay a development charge of $3.6 million for the site, which is zoned 'residential with commercial on the first storey', according to property consultants Teakhwa Real Estate, which brokered the deal. The owners of the 40 apartments will get...
SINGAPORE's newest landmark in Marina Bay will debut this Saturday. This is the iconic pedestrian bridge shaped like a double helix, which will link the part of the Bay near the floating platform to the soon-to-be opened Marina Bay Sands integrated resort. The official name of the bridge will be unveiled that evening, and the public is invited to catch a two-minute pyrotechnics display, along with music,...
KepLand property fund unit positive on residential, office, retail and hospitality EMERGING economies may be all the rage, but Keppel Land's property fund manager Alpha Investment Partners still sees good returns coming from matured Asian markets. Alpha is positive on the residential, office, retail and hospitality sectors in 'core' markets such as Singapore, Hong Kong, South Korea and Taiwan. The one...
Its Q1 distributable income rises 13.6%; net property income up 5.7% CAPITAMALL Trust (CMT) yesterday posted stronger results for the first quarter ended March 31 and signalled optimism ahead. There will be more asset enhancement initiatives at Junction 8 and Tampines Mall. Ongoing works at Raffles City Singapore and Jurong Entertainment Centre are also on schedule. 'We are now firing up all three...
BOON Keng Development made the top bid of $65.2 million for an industrial site at Woodlands Avenue 12 in a government tender which closed yesterday. Boon Keng's bid, which works out to $75 per square foot per plot ratio (psf ppr), is 29 per cent higher than the second highest bid of $50.6 million ($58 psf ppr) submitted by TGFB Pte Ltd and more than twice the application bid which triggered the tender....