Yugen Kaisha JOF, a subsidiary of mainboard-listed Saizen REIT, has entered into an agreement for a S$15.7-million loan from Japan's Mizuho Bank. The loan, which has been fully disbursed, has a term of 10 years. Under the terms, the asset manager of Saizen will act as a guarantor for the loan, and the property portfolio of Yugen will be pledged as security for the loan. The proceeds will be used to...
General
The Housing and Development Board (HDB) will release 7,000 new flats in the next three months, to cope with strong market demand. This is more than that offered in the first nine months of the year. From now to December, the HDB will launch 5,000 new flats for sale under its Build-to-Order (BTO) scheme. These will be in both new and mature towns, including 1,700 units in Dawson estate in...
Sought after FREEHOLD boutique development 33 exclusive units of good sizes 1-Bedroom / 2-Bedroom / 3-Bedroom / Penthouses Opposite Serangoon Sports Stadium Short distance to Serangoon integrated transport hub (Circle line, North-East line & bus interchange) Short distance to NEX Serangoon Mega Mall Close proximity to reputable schools (Rosyth School, Paya Lebar MGS, etc) Near various international...
K-REIT Asia is planning to raise S$620 million through a one-for-one rights issue. It is offering about 667 million rights units at 93 cents each, representing a 21.2 per cent discount to K-REIT Asia's closing price of S$1.18 per unit on September 30. K-REIT Asia said it intends to use about 80 per cent of the gross proceeds to repay borrowings provided by Kephinance Investment. This includes a bridging...
An estimated record 1.19 million square feet of new office space was added in the third quarter of this year, according to the latest Singapore Property Market Report by consultant DTZ. This increased the overall office stock by two per cent. The new supply in the third quarter was more than last year's total new supply of 1.14 million square feet. Newly completed offices included Mapletree Anson, 2HR,...
The Ascott Group has secured a contract to manage a serviced residence property in Vietnam's third largest city, Hai Phong. It clinched the contract through Thuy Duong Investment Joint Stock Company, an established real estate company with developments across Vietnam's major cities. To be called Somerset Central TD, this will be Ascott's first serviced residence property in the coastal city of Hai Phong...
Property consultant DTZ said sales of private homes here this year are likely to be higher than the record of 14,800 units sold in 2007. In a report, DTZ said there was a "frenzied" level of activity seen in the third quarter this year. That led to a record number of more than 2,700 homes sold in July. DTZ is forecasting that the record of some 5,100 units sold in the second quarter of 2007 will be...
Ratings agency, Fitch, said Singapore real estate investment trusts or S-Reits still face questions about their financial flexibility and refinancing ability. In a research report, Fitch noted that S-reits have largely been able to refinance their maturing debt obligations in 2009. As at June this year, Fitch pointed out that S-Reits are moderately geared at an average of 31 percent. It added that...
Just like drivers, some suggest property agents should be licensed by a government body - and subject to a demerit point system too. That would mean being allowed to a set number of points, before facing possible suspension for misconduct. Such ideas were floated by industry players yesterday at a forum organised by the Institute of Estate Agents (IEA), as the Ministry of National Development (MND) began...
CapitaLand said on Tuesday that its related entities have embarked on an asset swap arrangement to take full ownership of 22 retail malls in China. The firm said its sponsored funds, CapitaRetail China Development Funds, agreed to an asset swap arrangement with SZITIC Commercial Property (SCP). Under the deal, the development funds will swap their 65 per cent equity stakes in 4 projects and 50 per cent...