Second Chance Properties has bought 22 prime units of retail space at Sim Lim Square for S$35 million, as valued by real estate consultancy Jones Lang LaSalle. The 22 units cover 9,604 square feet on the fifth floor of Sim Lim Square, which is located at Rochor Canal Road. Second Chance Properties said the units are fully tenanted to 27 retailers and the gross rental per annum stands at S$2.634 million,...
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CapitaMall Trust (CMT) said on Thursday that its distribution per unit (DPU) for the third quarter stood at 2.354 cents. This is a 23 per cent improvement over the 1.91 cents DPU, for the same period last year after adjusting for a rights issue. Moreover, its distributable income for the third quarter was S$74.9 million - a 23.3 per cent on-year improvement. Its net property income also rose 8.8 per cent...
Mapletree Logisticis Trust has reported a third quarter distribution per unit of 1.48 cents, down 19.6 per cent from a year earlier. The fall in DPU was mainly due to the enlarged number of units as a result of a rights issue in August last year. However the DPU was the same as in the second quarter. Net property income for the three months ended September rose 9.5 percent to S$44 million. MapletreeLog...
Luxury resorts operator Banyan Tree will be adopting the SAP ERP Human Capital Management solution to transform its traditional Human Resource operation. Through this integrated solution, Banyan Tree will be moving away from administrative human resource processes. Instead, it'll embrace progressive approaches such as employee self-service to gain greater efficiency, lower costs and increase service...
CapitaMall Trust, Singapore’s biggest property trust, said third-quarter distributable income rose 23.3% from a year earlier to $74.9 million. Unitholders can expect to receive their Third Quarter 2009 distribution of 2.35 cents per unit on 26 November 2009. The annualised distribution per unit will be 9.32 cents, translating to an annualised yield of 5.27% based on the unit price of $1.77 on 21...
First Real Estate Investment Trust (First REIT), Singapore’s first healthcare real estate investment trust, today reported that its distributable income for the third quarter ended 30 September 2009 amounted to $5.22 million, or 0.8% lower than the $5.26 million in the corresponding period last year. Correspondingly, 3Q 2009 distribution per unit (DPU) remained steady at 1.90 cents. Based on its closing...
There was a flurry of transactions at the 25-year-old Regent Court recently. The 49-unit freehold condominium failed to sell en bloc for $34 million, or $528 psf, after it surfaced last December that the stamp duty for the en-bloc sale agreement in 2007 had not been paid by Regent Development, a nominee of Landquest Pte Ltd. Earlier, some owners also opposed the deal as they claimed that the sales proceeds...
The tourism stakes are high and Singapore is trying to woo more visitors. It is betting on the two integrated resorts due to open next year, and also spinning for a more diverse crowd. The Singapore Tourism Board (STB) said that it is on track to meeting its target of attracting 9 to 9.5 million visitors to the city this year. Despite the economic downturn, 6.2 million tourists visited Singapore in the...
Prime retail rents on Orchard Road declined by 2.8 per cent to S$38.17 per square foot in the third quarter from the previous three months. That is smaller than the 3.7 per cent fall in the second quarter and the 4.4 per cent drop in the first, according to a report by Colliers International. Meanwhile, the average monthly retail rents in prime malls in the Tampines, Woodlands and Jurong areas posted an...
Mainboard-listed developer Keppel Land said its third quarter net profit surged 70 per cent to S$78.5 million as property markets across Asia strengthened amid signs of an economic recovery. Sales rose 22.6 per cent to about S$228 million for the three months ended September. Capitalising on the improving market sentiment, Keppel Land launched Madison Residences and Caribbean Residences as well as...