Singapore-listed Parkway Life real estate investment trust (REIT) has reported a fourth quarter distribution per unit (DPU) of 2.05 Singapore cents, up 11.6 per cent from a year ago. Net property income for the three months ended December grew 9.2 per cent to S$16.5 million. For the full year, net property income was up 23.1 per cent at S$61.9 million. Parkway Life said the higher revenue was due mainly...
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CapitaMall Trust (CMT) said it will pay 2.4 Singapore cents per unit for its fiscal fourth quarter. The distribution per unit (DPU) is 24.4 per cent higher than a year ago, after adjusting for a rights issue last year. Shoppers were still thronging the malls last year, despite Singapore's economic recession. And that was good news for CMT, which saw positive growth for the year ended 2009. For the full...
Mapletree Logistics Trust has acquired a warehouse at Changi South Street for S$34 million. The acquisition is expected to be completed in the first quarter of this year. The vendor of the property is CEVA Freight, which will lease back the property for an initial term of five years, with an option to extend for another five years. Its rental will rise two per cent per year from the second...
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Private previews of The Shore Residences (the former Rose Garden enbloc site) by Far East Organization in December followed by an official launch on Jan 1 drew crowds to the showflat on weekends. The new 408-unit development opposite Katong Shopping Centre has seen close to 200 units sold at an average price of $1,175 psf as at last week. What’s more, the project has also spurred renewed interest in the...
Mapletree Logistics Trust has reported a fourth quarter distribution per unit of 1.59 cents, up 8.9 per cent from a year earlier. Included in the amount distributable was a S$2.5 million consideration from Prima Limited for the extension of the lease at a Singapore property. This forms part of the amount distributable as it is part of Mapletree's taxable income for financial year 2009. As a result, the...
Ascott Residence Trust announced on Thursday that its distribution per unit (DPU) for the fourth quarter is 1.87 Singapore cents. That is 11 per cent better than the 1.69 cents DPU declared over the same period a year ago. Unitholders' distribution for the fourth quarter amounted to S$11.5 million, up 12 per cent on-year. The higher distribution in the fourth quarter came despite revenue falling 2 per...
Property developer Guocoland said the half year net profit of its Malaysian subsidiary for the period ending 31 December 2009 has declined 12.4 per cent to S$3.39 million compared to the previous year. This is despite its revenue for the six-month period has more than doubled to S$36.6 million due to higher proceeds from property development. Guocoland Malaysia's second quarter net profit fell by 75.3...
K-REIT Asia said it will distribute 5.75 Singapore cents a unit for the quarter ended December. That's 9.7 per cent higher from a year ago. The commercial property investor said its distributable income for the quarter totalled S$19.4 million, up from S$17.4 million a year earlier. K-reit said net property income rose 13.6 per cent in the fourth quarter to S$13.4 million. Net property income for the...
CapitaCommercial Trust (CCT) said it will pay 1.88 Singapore cents per unit for its fiscal fourth quarter. The distribution per unit is 38 per cent higher than a year ago, after adjusting for a rights issue last year. The commercial rental market improved over the course of 2009, resulting in higher rental income for CCT from positive rent reversions. The acquisition of Wilkie Edge office building in...