Southeast Asia's largest property developer CapitaLand posted a 26 per cent drop in third quarter net earnings over a year ago. Net profit came in at S$419.4 million due to lower sales. Revenue in the three months ended September also fell by some 33 per cent to S$597 million. For the year-to-date, net profit hit S$1.18 billion, down from S$2.08 billion in the same period last year. CapitaLand said it...
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Don't bet on it! That's the advice from quite a few observers as the people behind Singapore's two planned integrated resorts insist that they will open on time. Marina Bay Sands is scheduled to open at the end of next year. Sentosa Resorts World is set to open in the first quarter of 2010. Upset contractors, who say the two operators are trying to renegotiate the prices verbally agreed upon for their...
Suntec REIT's distribution per unit (DPU) for the fourth quarter rose 34.6 per cent year-on-year to 2.854 cents between July and September. Its distribution income of S$43.9 million for the same period was 44.5 per cent higher on-year. The gains were led by higher rentals from its Suntec City and Park Mall properties. Net property income was S$45.6 million, up 24.7 per cent from S$36.6 million, while...
8 Cluster Strata Bungalow units of 2/3 Storey with Attic/Basement (basement carpark for 2 cars per unit) Good sized common swimming pool ALL units with Private Jacuzzi Types: 5+1 Bedrooms, 6+study+1 Bedrooms (5565sqft - 8676sqft) Location: Near Vivo City, Sentosa Integrated Resort, St James Power House, Reputable Schools Tenure: Freehold Contact us at [email protected] with the following for more...
There may be many good buys available at the height of the fear cycle AS A novelist, Charles Dickens’ works appeal to readers of all generations because he understood the psyche of the human race. He realised that we are people of extremes. When things are bad, we often see them as worse than bad. Conversely, when things are good, we are inclined to see them as better than good. During current times,...
IT LOOKS like being a business for all seasons. The global economic and financial turmoil has yet to have a major impact on Frasers Hospitality, the serviced apartments arm of Frasers Centrepoint, itself the property division of mainboard listed Fraser & Neave. The firm is certainly playing in the big league; its newest property in China - Fraser Suites Top Glory in Pudong - was formally opened...
Singapore's Frasers Hospitality, which manages serviced apartments, has launched its latest property in Shanghai. Despite the current global financial uncertainty, it remains bullish about its prospects. Frasers Suites Top Glory in Shanghai was opened by former US secretary of state, Henry Kissinger. The five-tower serviced apartments are located in the bustling Lujiazui central business district in...
CDL Hospitality Trusts posted a 41.8 per cent increase in income available for distribution to 8.82 Singapore cents per unit for the first nine months of 2008, compared to the same period in 2007. At the same time, revenue grew 38 per cent to S$86.5 million. Its net property income of S$27.3 million for the third quarter was up 20.7 per cent from S$22.6 million a year ago, while gross revenue grew 21.3...
An industrial facility in Changi Business Park Vista was sold for S$63 million to Hamburg-based property management company Union Investment Real Estate, on a sale and leaseback term. The 198,000 square foot Applied Materials Building is Union's second investment in Singapore, following the purchase of two office buildings in 2007. Source : Channel NewsAsia - 29 Oct...
YTL CORP, Malaysia's biggest builder, will spend $285 million for control of Macquarie Prime Real Estate Investment Trust (Reit), owner of stakes in two Singapore malls - Wisma Atria and Ngee Ann City. YTL, which is based in Kuala Lumpur, will buy 26 per cent of Macquarie Prime at 82 cents each from Macquarie Bank, it said yesterday in a statement. The company will also acquire 50 per cent of Prime Reit...