It will help manage real estate portfolios of wealthy investors FORMER Savills analyst Ku Swee Yong hopes to shake up the real estate scene here with his new agency International Property Advisor (IPA). IPA aims to connect high net worth individuals to suitable real estate investment products. 'We want to provide a service to represent the private wealth that goes into real estate investments,' said Mr...
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The Urban Redevelopment Authority (URA) is launching a closely-watched commercial site at Stamford Road and North Bridge Road for sale by public tender. The URA is launching the sale after a developer committed to bid at least S$100 million dollars for the 99-year-leasehold site, which was placed on the Reserve List system. URA says the land parcel, which is 1.43 hectares in size, is slated for...
The world's first curved double helix pedestrian bridge will open to the public on April 24 from 9.30pm. Located at Marina Bay, the pedestrian bridge will connect Marina Centre to the Bayfront area. The bridge will also lead to the Marina Bay Sands Integrated Resort when phase 2 of the IR opens this June. For motorists, there will be a new vehicular bridge located just beside the double helix...
Cambridge Industrial Trust (CIT) said on Wednesday its first quarter distribution per unit (DPU) fell 7.5 per cent to 1.27 cents, from 1.38 cents in the same period a year ago. Its distributable income for the quarter ended March 31 declined 7.2 per cent to S$11.1 million, from S$11.9 million in the previous corresponding period. The lower DPU also came on the back of lower property income which fell 2.7...
Boon Keng Development has submitted the highest bid of S$65.2 million for an industrial site at Woodlands Avenue 12. The price translates to about S$75 per square foot per plot ratio. The top bid is some 29 per cent higher than the second highest offer of S$50.6 million from Affluence Resource. Whye Wah Group put in the lowest bid of S$31 million. All in, the Urban Redevelopment Authority (URA)...
CapitaLand said it has dissolved an indirect subsidiary - CapitaLand Sadeco. The company, incorporated in Vietnam had been placed under members' voluntary liquidation. CapitaLand said the dissolution of the subsidiary is not expected to have any material impact on the net tangible assets or earnings per share of the group. Source : Channel NewsAsia – 21 Apr...
CapitaLand's wholly-owned serviced residence business unit, The Ascott, said it has secured a contract to manage its second Citadines serviced residence in Indonesia. The contract was awarded by state-owned enterprise P-T Hutama Karya Persero. But it did not reveal to the value of the contract. Called Citadines Jakarta Rasuna, the 135-unit property is scheduled for completion by next year. It is...
CapitaMall Trust (CMT) says its first quarter distribution per unit increased 13.2 per cent on-year to 2.23 cents. It announced a DPU of 1.97 cents in the year-ago period. First quarter distributable income rose 13.6 per cent on-year to S$71.1 million dollars, while net property income gained 5.7 per cent to S$97.6 million dollars.2 CMT says the improved performance was mainly due to higher gross...
PROPERTY owners big and small are on track to reap big benefits, thanks to the opening of 11 new stations on the Circle Line, according to a report. Industrial landlords such as Ascendas Reit (A-Reit), Mapletree Logistics Trust (MapletreeLog) and Suntec Reit own large properties around these stations and will see gains from the new transport route, said Credit Suisse. Its report also showed that property...
THE roll-out of land in response to high demand for homes has continued, with the Government launching public tenders for two more sites yesterday. Both residential development sites - in Hougang Avenue 2 and Upper Serangoon Road - are 99-year leasehold plots. The Upper Serangoon site, in Pheng Geck Avenue, is on the Government's confirmed list. These sites are scheduled for tender without developers...