CapitaCommercial Trust (CCT) will receive a total of S$9.3 million from Capitaland Commercial Limited (CCL). The money for the year ended 31 December 2009 is the yield protection amount in relation to the property, One George Street. CCT had bought the asset from CCL and under the terms of the deal, CCL agreed to provide a yield protection to CCT if it falls below a certain amount. As the net property...
General
Property developer CapitaLand has reported strong sales at its 165-unit Urban Suites condominium, after selling 90 per cent of the 140 units released. Prices have also increased to between S$2,500 and S$2,800 per square foot compared to the phase one release of its first 60 units. The units in phase one were sold at prices ranging from S$2,400 to S$2,700 per square foot. About 70 per cent of the buyers...
Mainboard-listed China-based property developer Ying Li International intends to acquire two potential prime sites in China. It is setting up a wholly-owned subsidiary through the acquisition of Shiny Profit Enterprises, which has an initial registered share capital of US$10,000, for the purpose. Through Shiny Profit, Ying Li plans to buy two prime sites located in the Chongqing Yuzhong Central Business...
Housing analysts said it is a sellers' market right now, with resale flats being a hot commodity lately. But the Housing and Development Board (HDB) has urged buyers to exercise caution when paying high cash premiums, and to do their homework to determine if a house is truly worth its asking price. A 4-room flat in Bishan was recently put up for sale. It was valued at S$460,000 by an independent valuer...
The Housing Development Board's (HDB's) first two Build-to-Order (BTO) projects launched for the year are receiving very favourable responses. A few hours before the close of applications at 2359hrs on Monday, the 1,291 units being offered at Limbang Green in Choa Chu Kang and Buangkok Vale were more than five times oversubscribed. The four-room flats were the most popular. The 188 four-room units in...
CapitaLand is buying the real estate business of Hong Kong's Orient Overseas International for about S$3.1 billion in cash. The move will double CapitaLand's property portfolio in China, which will now make up 36 per cent of the group's total assets following the acquisition. The latest acquisition will expand its portfolio to include seven sites for development in Kunshan, Tianjin and...
Ascendas REIT said its third quarter distribution per unit (DPU) grew 13.5 per cent. The trust said in a statement that unit-holders will receive 3.27 Singapore cents per unit for the three months ended December, compared with 2.88 cents a year earlier. This came on the back of higher gross revenue which rose 3 per cent to S$105.1 million. Net property income for the period also increased 10 per cent to...
Visitors to Resorts World Sentosa will be able to shop there when the first of its retail belt opens in time, for its soft launch on Wednesday. The shopping strip makes up about 20 per cent of the entire retail space at the integrated resort. As for its casino and the Universal Studio theme park, the company is hoping to open both in time for the Lunar New Year. Last minute touches are being made to...
Location: Yishun Ave 1 (District 27) Tenure: 99 years leasehold Year of Completion: 2013 Site Area: approx. 291,379 sqft Total Units: 608 (7 blocks of 15-17 storeys) Unit Types: 1 Bedroom ~ 592-603/678sqft 2 Bedroom ~ 904-926/1098-1119sqft 2+Study ~ 1119/1281sqft 3 Bedroom ~ 1184-1302/1302-1442sqft 4 Bedroom ~ 1453-1528/1614sqft Facilities: ~ 50 m Lap Pool ~ Lagoon Pools ~ Wading Pool ~ Outdoor Dining...
Many property owners have been asking us: Is it time to sell en bloc? Are developers ready to buy? Should we start the process now, or wait for the market to pick up further? Are the new en bloc laws too onerous? In 2007, there were more than 100 such deals, but 2008 saw fewer than 10, and there was just one last year. So what is in store for 2010? We certainly do not have the answers to all of these...