Singapore Exchange's Mainboard-listed Parkway Life Real Estate Investment Trust (REIT) has posted a 13.7 per cent rise in its second quarter distributable income per unit (DPU) to 1.89 Singapore cents, from 1.66 cents a year ago. This was on the back of a 27.9 per cent increase in net property income to S$15 million in the same quarter, from S$11.7 million last year. Gross revenue in the three months...
General
Singapore Exchange's Mainboard-listed Banyan Tree Holdings said its first real estate investment fund has proven successful. The luxury resorts developer plans to use the fund-based model to develop future projects in markets such as China and the Philippines. Banyan Tree is tapping into its first real estate investment fund to finance the development of its Laguna Hue project in central Vietnam. Its...
LUXE does not have to mean excessive, as Sentosa Cove demonstrates with environmentally-friendly initiatives that characterise the exclusive residential enclave. "From the onset, Sentosa Cove was designed (in 1996) with the natural environment in mind - approximately 40 per cent of our development is dedicated to landscaping and waterbodies," said Mr Jason Yeo, general manager of Sentosa Cove Resort...
ARA Asset Management has announced a net profit of $22.1 million for the six months ended June 30, 2009 (1H2009), a 22% increase from the $18.1 million achieved in 1H2008. The increase in net profit was achieved on the back of a 13% rise in total revenue to $38.5 million in 1H2009 from $34.1 million in 1H2008. ARA says management fees from REIT and private fund management rose 4% to $32.4 million in...
With the residential market picking up strongly, Far East Organization yesterday said it had decided to launch Centro Residences in Ang Mo Kio in phases over the next three years. The reason, it said, was the Government's plan to rejuvenate Ang Mo Kio into a vibrant town. "We see vast potential for the enhancement of real estate values in this area," Far East said in a statement. So far, it has sold...
Location: Kovan Road (District 19) Tenure: Freehold Year of Completion: 2012 Total Units: 15 (14 Semi-D, 1 Bungalow) Unit Types: Bungalow ~ 4951sqft (approx $2.45m) Semi-D ~ 3714-3789sqft (approx $2.05-2.2m) Basement plus 3-storeys plus Attic Interest absorption scheme with OCBC. 5%+15% down, balance upon TOP. Open for sale now (First Come First Serve)!! Sell by floor plan tentatively. Model and sales...
Land prices in Singapore have slumped by up to 50 per cent since the property boom in 2007, according to market watchers. Weaker prices, coupled with recent strong demand for homes, could lure developers to replenish their land bank. As home buyers have been flocking to project launches over the past few months, analysts said developers are showing more interest in good residential sites. More than 7,200...
Office rents in Singapore fell 26.2 per cent in the second quarter, according to latest figures from real estate consultancy firm Colliers International. This was the steepest decline quarter-on-quarter among Asia-Pacific cities. Singapore is the fourth most expensive office location after Tokyo, Hong Kong and Ho Chi Minh City for Grade A offices – one spot down from the first quarter this...
Singapore's Botanic Gardens will be expanded with the addition of a new parkland. National Development Minister Mah Bow Tan said a 9.8-hectare parkland at Tyersall Avenue will be added to the Gardens. This parkland will form a seamless extension to the west of the Gardens, bringing the total area of the Botanic Gardens to almost 74 hectares. And, there will be a new arboretum on the parkland. The...
Developers of Optima@Tanah Merah have brought forward the launch of the condominium, which was to have taken place on Friday. However, queues formed as early as 4pm on Thursday, prompting the developers to start selling the units. 120 units were sold yesterday with another 150 units to be balloted on Friday. The 99 year leasehold development has 297 units. The condo's developers said they feel that...