CapitaCommercial Trust (CCT) on Friday reported that its first quarter distribution per unit (DPU) stood at 1.93 cents. CCT said the DPU, which has been adjusted for rights issue, is 19.1 per cent higher than the 1.62 cents achieved a year ago. Distributable income for the three months ended March 31 rose 19.7 per cent to S$54.3 million. CCT said higher rental contribution from the trust's properties...
General
Government measures to cool the property market have not doused the enthusiasm of buyers. Developers sold 1,761 private homes in March - 47 per cent more than the 1,202 in February. This was disclosed in fresh figures from the Urban Redevelopment Authority (URA) yesterday. For the first quarter, sales hit 4,446 units - more than double the figure in Q4 2009 and up 67 per cent from Q1 2009. Still,...
SALES of new private homes leapt again last month, with more strong buying expected in the months ahead after the latest hot economic growth figures. Home hunters picked up 1,761 units last month, up from 1,202 in February, bringing first-quarter sales to a higher-than-expected 4,446 units. The quarterly total was way above the 1,860 units sold in the fourth quarter of last year, as demand for core city...
Property buyers are in a sweet spot, following the tightening of the Singapore dollar which attracts capital inflows causing interest rates to fall. The key three-month Sibor (Singapore interbank offered rate) fell to 0.64583 per cent yesterday from 0.65625 per cent on Wednesday after the Monetary Authority of Singapore (MAS) appreciated the local unit to stem inflationary pressures. The government has...
Property consultancy CB Richard Ellis (CBRE) said on Thursday total investment sales in the real estate sector grew to a whopping S$4.87 billion in the first quarter this year. This was 18 times higher compared to the S$273.8 million in transacted value posted in the first quarter last year. In its latest report, CBRE said the brisk sale of government land sale (GLS) sites in the first quarter, which...
Private home sales kept up their momentum in March, with 1,761 units changing hands, according to figures from the Urban Redevelopment Authority (URA). This was up 47 per cent on-month and also the fourth highest monthly sales recorded since the start of URA's monthly series in June 2007. Analysts said demand for new homes remains strong, despite more government measures to cool the market in...
TWO developers have tied up with financial institutions to offer low interest rates to buyers of certain residential projects. Hong Leong Finance is offering rates of as low as 0.98 per cent a year on loans to buyers of its sister firm City Developments' (CDL) The Residences at W Singapore at Sentosa Cove. For the Waterbank at Dakota condominium, United Overseas Bank (UOB) is offering an enticing deal:...
RETAILER John Little, part of the Robinsons Group, says it will soon vacate its seven-storey Orchard Road outlet. This means the large pool of new retail space set to come onstream later this year will grow even bigger. The move by the retailer confirms months of speculation after it failed to exercise its option as a tenant to renew its lease with landlord OG late last year, as reported by The Straits...
SHOPPING mall owner and operator CapitaMalls Asia has seen its first-quarter profits surge more than 800 per cent on the back of gains in key markets. Its assets in Singapore, China and Malaysia helped push net profit for the three months to March 31 to $96.8 million, as compared to $10.3 million for the same period a year ago. Revenue jumped by 41 per cent to $74.6 million, in contrast to $52.9 million...
SINGAPORE'S public housing programme is testament to the foresight of its leaders. That was the view of Dr Fang Xinghai, head of the Shanghai Municipal Government financial services office, who arrived here on Sunday. He is visiting Singapore for a week as the 30th Lee Kuan Yew Exchange Fellow. Speaking last night at a welcome dinner in his honour at the Shangri-La Hotel, Dr Fang noted that it was...