Ratings agency Moody's on Thursday said Singapore real estate investment trusts (S-REITs) could suffer from the supply of new commercial properties and modest economic growth. In its latest report, Moody's said that despite the resilience of most S-REITs in the last six months, it expects the fundamental prospects for the sector to remain challenging in the next 12 months. This is because of the...
General
DOWNTURN? What downturn? Private home transactions - for both new and resale homes - jumped by more than 130 per cent last year, despite the downturn. Singaporeans were the main drivers of the surge: There was an overall rise of 144 per cent in private property transactions by them last year - 23,516 compared with 9,649 in 2008. In the non-landed segment, Singaporean purchases rose almost 159 per cent....
Two en bloc sale sites have come on the market - Culford Gardens at Siglap, with price expectations of $37-40 million, and two adjacent bungalows in Margate Road, which are expected to fetch more than $30 million. Both sites are freehold. In the Siglap/Upper East Coast vicinity, Credo Real Estate is handling the collective sale of Culford Gardens, which is on a 44,093 sq ft site. Under Master Plan 2008,...
A NEW rental HDB block is coming up in Tampines Street 22 - and unlike their neighbours in Pasir Ris and Tampines Street 83, residents there are happy to have it near them. All 20 residents interviewed by The Straits Times yesterday expressed no objections. Some were even welcoming of their future rental block neighbours who are expected to move in around May. Their only gripe: the loss of the football...
CULFORD Gardens in Siglap has been put up for a collective sale with an asking price of between $37 million and $40 million. Marketing agent Credo Real Estate's managing director Karamjit Singh said that at this price, each unit owner can expect to get an average of between $1.54 million and $1.66 million from any eventual sale. The site has a land area of 44,093 sq ft, with 24 units of mainly...
Funding of up to $1m for any project with cutting-edge innovations JTC Corporation is looking for 'cutting-edge' ideas from the private and public sectors and academic institutions on how to intensify land use and create new industrial space.Ins And it will provide funding of up to $1 million for each project proposal. The industrial landlord has decided to open up its innovation 'dream fund' - created...
Most of the funds to be used for asset enhancement and debt refinancing CAPITACOMMERCIAL Trust (CCT) is planning to raise at least $225 million and up to $250 million through a five-year convertible bond issue to be placed with institutional and accredited investors. The office Reit, which is partly owned by CapitaLand, plans to use most of the funds (75-90 per cent) for 'asset enhancement and...
Change in investor confidence has cut redemptions queues in several key funds The property arm of UBS Global Asset Management is eyeing an investment market comeback in 2010 following a sea-change in investor confidence that has cut redemptions queues in several key funds. Roberto Varandas, head of European real estate business development at the UBS unit, said that property is back in vogue with many...
Team arranged US$20b of debt and equity transactions in last 10 years Jones Lang LaSalle Inc (JLL), the second-biggest publicly traded commercial property broker, has hired an investment banking team from larger rival CB Richard Ellis Group Inc (CBRE), as it prepares for US real estate sales to rebound. Thomas J Melody, 48; Michael J Melody, 47; and Thomas O Fish, 47, started their new jobs this week,...
Property consultants Credo Real Estate has launched the tender of Culford Garden at Siglap with an asking price of between S$37 million and S$40 million. At that price, each unit owner can expect to get between S$1.54 million to S$1.66 million from the en bloc deal. The collective sale site has a land area of 44,000 sq ft and comprises 24-units which are mainly three-bedroom apartments. The site is...