Ascott Residence Trust (Ascott REIT) says it achieved a unitholders’ distribution of $11.8 million and DPU of 1.92 cents for the quarter ended Sept 30, 2009. Ascott REIT’s annualised distribution yield is 6.7% based on the closing price of $1.09 per unit on October 27, 2009. Lim Jit Poh, Ascott Residence Trust Management Limited’s (ARTML) Chairman, says: “The severe challenges posed by the global...
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The S$4-billion Marina Bay Financial Centre mega project is on target despite the global downturn. In a year, phase one of the Marina Bay Link Mall under the Centre will be up and running, with tenants moving into the offices above. Raffles Quay Asset Management (RQAM), who has revealed plans to make the 176,000-square-foot mall a place to "Shop, Dine and Play", said the response rate has been...
Property giant CapitaLand said on Tuesday it posted its smallest decline in net profit in a year. It said its third quarter net profit after tax and minority interests for the period ended September stood at S$281.3 million, down 33 per cent compared to the S$419.4 million earned over the same period last year. CapitaLand said the decrease was mainly attributed to lower divestment gains this year. In...
Suntec Real Estate Investment Trust (Suntec REIT) says it achieved a distribution income of $47.74 million for the period Jul 1 to Sept 30 FY09, which was 8.8% higher compared to the quarter ended Sept 30 2008 (3Q FY08). The DPU of 2.921 cents for the quarter was 2.3% higher year-on-year. Suntec REIT achieved gross office revenue of $28.7 million for the quarter, which was 7.9% higher than in 3Q FY08,...
Hong Leong Holdings said it plans to build a unique residential development on a land parcel at Serangoon Avenue 3. The developer said the project will be cutting edge in both design and concept. It will feature over 400 units, which will be sized according to the needs of customers within the area. The 99-year leasehold site has a permissible gross floor area of about 418,000 square feet. The company...
Home owners at the Laguna Park condominium in Marine Parade are now faced with the choice of selling their homes at an average of 20 per cent lower than their initial asking price. This comes after a failed tender earlier this month. Then, the site received a bid from an Indonesian-owned, locally incorporated company of S$1.728 billion, but a downpayment could not be made in time. Since then, the...
Eighty-two per cent of the residential development, Lincoln Suites, was snapped up within four days of the soft launch. A total of 46 of the 56 units under phase one were taken up by the close of the soft launch on Sunday. This comprised 15 studio units and 31 one-to-three bedroom units. Lincoln Suites is a 30-storey, freehold development off Newton Road. It is targeted to be officially launched this...
The inaugural Singapore Green Building week started on Monday with the launch of Singapore's first "Zero Energy Building." National Development Minister Mah Bow Tan said the three-storey office building showcases how it can be up to 50 per cent more energy efficient. It cost some S$11 million to retrofit but the building is expected to generate as much electricity as it consumes in a year. The...
The Housing & Development Board (HDB) on Monday accepted an application under the Reserve List System to put up a residential land parcel at Jurong West for public tender. HDB said it will launch the tender for the land parcel in about two weeks. The land parcel is at Westwood Avenue and it is proposed for the development of landed housing. The area covers 14,098.9 square metres and is for a lease...
The Housing and Development Board (HDB) will consider measures to prevent the congregation of permanent residents, if necessary. MediaCorp had contacted the statutory board after Member of Parliament Lim Wee Kiak filed a parliamentary question on the total number of PRs who own HDB flats and the distribution of PRs in various public housing estates. While his question is being held over from last week -...