ARA Asset Management has entered a partnership agreement with Qatar-based Regency Group to jointly manage a Shariah-compliant real estate investment trust (REIT). The partners plan to list the REIT on the Singapore Exchange in the second half of 2010. ARA said the proposed REIT is expected to comprise mainly of hospitality properties, including hotels and serviced apartments in Qatar. These will be...
General
Public flats will continue to appreciate in value as long as the Singapore economy continues to grow. And with limited space, the future of public housing looks set to go up - with more skyscraper flats to be built. Minister Mentor Lee Kuan Yew said this as he launched The Pinnacle@Duxton, which at 50 storeys, is the tallest HDB development in Singapore. The first rental HDB blocks in Tanjong Pagar were...
Singapore property developer CapitaLand has set ambitious targets for its China operations, as it marks 15 years of doing business on the mainland. It wants to double the number of its shopping malls and housing developments in China in the next five years. It is also looking to expand its service apartments business. CapitaLand is celebrating 15 years in China with a bang. It said China will continue to...
Mainboard-listed Suntec REIT says its private placement of 128.5 million units was more than five times oversubscribed. The trust had priced the new units at S$1.19 each, a discount of 6.5 percent to Thursday's volume-weighted average price of S$1.2724 per unit. Suntec REIT said the gross proceeds from the private placement amounted to S$152.9 million. Net proceeds after deducting the underwriting,...
CapitaLand's serviced residence unit, Ascott, has clinched a contract to manage its third service residence in Xi'an, China. No financial details of the contract were given. The Citadines Xi'an Xingqing Palace is slated to open in 2011. The property will offer 160 studio apartments, each with a fully-equipped kitchen, an en-suite bathroom and a separate work area. Ascott's two other serviced residences...
Property developer and construction firm Low Keng Huat on Friday said its third-quarter net profit rose 28 per cent on-year to S$16.6 million. Revenue for the three months ended October 31 almost quadrupled to S$205 million, thanks mainly to significant increases in its construction revenue. Its third-quarter construction revenue had jumped more than four-fold year-on-year, due to completions of two...
Location: East Coast Road / Siglap Road (District 15) Tenure: Freehold Year of Completion: 2014 Total Units: 114 (4-Storey with Attic) Unit Types: 1 bedroom ~ 366 - 495 sqft 1 + study ~ 463 - 603 sqft 2 bedroom / 2 + study ~ 689 - 732 sqft Penthouse ~ 775 - 1453 sqft Contact us at [email protected] with the following for more information: Siglap V / Name / Contact # / Unit Type...
The tender for an industrial site at Pioneer Road North has been awarded to private developer KNG Realty. The company had placed a bid of S$19.4 million for the site, or S$48 per square foot. The Urban Redevelopment Authority had received eight bids for the site. It was offered for sale in November on a 30-year lease. The site is intended to be used for clean or light industry, warehousing, public...
The two upcoming integrated resorts in Singapore, which open in the first quarter of next year, are not planning to gamble with the environment. In fact, they have spent millions of dollars on green technologies and sustainable building concepts to conserve resources. It has been a roller coaster ride for the environment, and climate change is a real threat. So companies, like Singapore's two integrated...
Interest in waterfront homes at Sentosa Cove seems to have returned in recent months, as the opening of Resorts World at Sentosa looms. Since the beginning of November, a total of six properties — three luxury condominiums and three landed homes — have changed hands in the resale market at $1,406 to $2,423 psf. In the week of Nov 6 to 13, one of the 29 villas on Ho Bee Group’s Paradise Island — a...