A rental dispute turned ugly at Ngee Ann City on Sunday morning. Security was called in to the Opera Gallery - one of the tenants there - to seal off the premises which houses over S$20 million worth of art. The Opera Gallery had brought in dramatic street art during the F1 race last September. And now it is caught in some drama itself. Its landlords at Ngee Ann City ordered security to seal off the...
General
Here's good news if you are looking for a place to rent. Property developers are renting out en bloc units at half the usual price. Many new property projects have been put on hold due to the economic uncertainty. In the meantime, developers are renting out the existing units, acquired over the last two years, to cover their costs. Mark Teo, ERA's senior group division director (real estate), said:...
Waterfront Waves is designed to merge as one with the picturesque Bedok Reservoir & Park. With unprecedented proximity to the reservoir, you can look forward to commanding vistas of shimmering waters from your home. This is truly a luxury many may desire, but only few will ever own. The calm waters of Bedok Reservoir are the perfect arena for a whole host of water sports & activities. Brace your...
Caspian Condominium is located at Lakeside Drive along Boon Lay Way. It is approximately 5 minutes walk from Lakeside MRT Station (EW26) and only one MRT station from major regional mall such as Jurong Point which is right next to Boon Lay MRT Station (EW27). Caspian is two MRT stations away from Jurong East MRT Interchange (EW24/NS1) where IMM shopping Mall is just nearby. It is also close to educational...
Starhill Global Real Estate Investment Trust will pay 1.85 Singapore cents per unit for the fourth quarter of 2008. This is 10.1 per cent higher than the same period a year ago. For the three months to December last year, Starhill Global REIT had distributable income of S$18.1 million. The Trust says its net property income over the period was 17.1 per cent higher at S$26.0 million. This is due mainly...
CDL Hospitality Trusts will pay unitholders 1.8 cents per stapled security for the fourth quarter ending December 31, 2008. This is about 34 per cent lower than the same period in 2007. But the full-year distribution per unit is up by 18 per cent to 10.62 cents in 2008, compared with a year ago. The Trust said its net property income rose nearly 20 per cent on-year to S$102.8 million. Gross revenues...
Property developer CapitaLand has said it will give back S$41.5 million in rental rebates to existing retail, commercial and industrial tenants. This will effectively mean a 4 per cent reduction in rentals on average. The developer is passing on the savings it received from the government's Budget announcement last week. Finance Minister Tharman Shanmugaratnam had said the government is giving a 40 per...
Parkway Life REIT (PREIT) will pay 1.84 cents per unit for its fiscal fourth quarter. This is nearly 18 per cent higher than its forecast. For the full year, unitholders can expect a payout of 6.83 cents per unit - about 9 per cent higher than forecast. All in for the full year, PREIT had S$41.2 million to distribute to unitholders, exceeding its forecast by 9.4 per cent. PREIT said its total net...
Analysts expect more 'shadow space' ahead Even as office rentals are tumbling fast, more space is lying idle at vacancy levels approaching those seen just before the recent boom years. As at the end of last month, the island-wide vacancy rate ofoffice space stood at 8.8 per cent,up from the third quarter's rate of8.2 per cent, according to data released last week by the Urban Redevelopment Authority...
Construction firm Koh Brothers has won a contract to build the first part of the Punggol Waterway in Punggol Town. The contract, which is awarded by the Housing and Development Board (HDB), is worth S$144.6 million. Under the deal, Koh Brothers will build a 2.4-kilometre waterway and its related engineering works in Punggol Town. The waterway, which will have a promenade on both banks, will be connected...