Fortune REIT has reported a 28 percent jump in full-year distributable income to nearly HK$277 million or S$53 million. This was driven by a high occupancy rate of 95 percent and strong rental reversions. But the distributable income for the six months to December alone was almost flat at HK$135 million or S$26 million. Distribution per unit for 2006 will be slightly over 34 HK cents. Fortune REIT...

The Ministry of Trade and Industry on Tuesday released six sites under the Government Industrial Land Sales Programme to meet continued demand for industrial land for the first half of this year. Of the six, two sites zoned for business use totalling 3.3 hectares are on the Confirmed List. They are at Tampines Street 92 and Kaki Bukit Road 3. Details for the Tampines site are expected to be released...

Suntec Real Estate Investment Trust has reported a 21 percent gain in its distribution income for the first quarter. This amounted to S$27 million or some 2 cents per unit. Property income was also 21 percent higher at S$35 million. This was due to the partial revenue recognition from Park Mall and Chjimes as well as organic growth from its office and retail portfolios. Park Mall was acquired in...

Developer CapitaLand Residential sees a new trend emerging in the high-end property market in Singapore. The real estate development arm of property giant CapitaLand says two tiers are emerging within the high-end segment - the super-luxury end and the high-end, each with a distinctly different group of buyers. CapitaLand Residential says Singapore's property market is booming, especially in the high-end...

SuperBowl is planning to sell the 35 units it owns in Parklane Shopping Mall in a collective sale. The units represent a 20 percent of the development on Selegie Road. SuperBowl, which provides entertainment and leisure services, is trying to persuade other unit owners to join in the exercise. So far, it says half the owners, including its 20 percent, have agreed to the sale. It has 12 months to get a...

Tampines Court, a 22-year old HUDC development, is up for collective sale after obtaining an 80 per cent consensus from the owners.The indicative value is $527 million.The development, which was privatised in 2001, sits on a 702,458 square foot (sq ft) site and has a plot ratio of 2.8 and a potential gross floor area of about 2 million sq ft. This is one of the largest en bloc sale sites available on the...

With a whopping 30.3 per cent rise in rentals for the whole of 2006, the office property sector last year came close to the pre-1996 highs when the property market was at its peak. Latest statistics from the Urban Redevelopment Authority (URA) show prices of office space soared 7.7 per cent quarter-on-quarter and 17 per cent year-on-year while rents rose 11.6 per cent quarter-on-quarter and 30.3 per cent...

District 9 luxury freehold project St Thomas Suites, that Frasers Centrepoint Homes is launching this weekend, will have two 33-storey towers and most of the units are large — ranging from 1,800 to 2,600 sq ft. There are also two penthouses measuring 7,000 sq ft, both of which have already been taken up by Singaporean buyers. Even before the public launch of the project, demand from existing clients...

From Bulgaria to Tonga, they’re buying property here as foreigners find S’pore an attractive place to call home; markets are smiling...   Five years ago, “For Sale” signs lined the lonely stretch of bungalows along Berwick Drive. Even for a steal of a price, the suburban Serangoon Gardens area saw few takers. The economy, shaken by the terror attack in New York, hadn’t yet stepped out of the...

Finally, the general public will be able to form a more accurate view of how the private residential market is performing — or rather how the various segments of the market are doing. For the first time, the Urban Redevelopment Authority has released the price movements for private residences in three geographical areas to show differences between the various segments. We now know that general prices...