Abu Dhabi's leading property developer ALDAR is in Singapore looking for both investors and skilled partners for its real estate development projects in the Middle Eastern city.ALDAR was set up by the UAE authorities to promote the development of Abu Dhabi. ALDAR's Chief Investment Officer John Straw explains why the developer is participating in the Global Entrepolis @ Singapore. "We are always looking...
CDL Hospitality Trusts has reported a distribution income of nearly S$7.9 million for the period from July 19 to September 30.This is 6 percent higher than its forecast during its initial public offering, and it works out to a distribution per unit of 1.13 cents. CDL Hospitality was listed on July 19. Property income was 2.7 percent better than projected at S$10.3 million. CDL Hospitality says it...
The outlook for the construction sector is bright, says Minister of State for National Development Grace Fu.This year's construction demand forecast has been revised upwards to between S$14 billion and S$16 billion from the previous estimate of S$12 billion to S$13.5 billion. The sector's third quarter contribution to the GDP also grew by one per cent. And more will be done to raise the quality of...
AMK Hub, a seven-storey retail mall at Ang Mo Kio Central, will be ready early next year, complete with an air-conditioned bus interchange and an underground pass to the nearby MRT station. Labour chief Lim Boon Heng was at the topping out ceremony, which is to symbolically give the finishing touches to a building. The new hub will house NTUC's various cooperatives like supermarket chain NTUC Fairprice,...
Ascott Group says its third quarter profit jumped 270 percent to S$59 million.For the nine months to September, Ascott's profit of S$140 million has already surpassed last year's full-year income of S$42 million.Ascott's strong performance was boosted by gains from selling 12 of its serviced residences to Ascott Residence Trust and its robust operating performance. Its acquisitions and managements...
As a sign of the growing business ties between the United Arab Emirates (UAE) and Singapore, a S$150 million Singapore Tower is being built in Dubai. The project was unveiled by AKAR Properties on Friday. The UAE property developer is targeting the high-end office building not just at Singapore companies in the Middle-East, but also at other Asian businesses. When completed in 2008, the Singapore Tower...
CapitaLand has received approval to list its CapitaRetail China Trust on the main board of the Singapore Exchange.The private trust set up by CapitaLand will be the first China retail Real Estate Investment Trust in Singapore.CapitaRetail China Trust has an initial portfolio of seven retail malls located in five cities across China. The portfolio is valued at S$690 million and has a total gross rentable...
Macquarie MEAG Prime REIT has outperformed its IPO projections for the third quarter.For the three months to September, it booked a distributable income of $13.7 million.That is 9 percent higher than its IPO forecast of S$12.5 million. It translates to a distribution of 1.44 cents a unit. Property income was S$17.4 million or 4 percent higher than projected. The property trust attributed the strong...
The top end of the property market has moved fast over the past 18 months due to foreign interest. Across the board, foreigners made up about 22 per cent of the total purchases in Singapore. According to Mr David Neubronner, executive director of property consultancy Savills Residential, of the more than 9,000 purchases in the first half of 2006, around 1,900 were by foreigners. "The percentage goes up...
When purchasing a property, considerable attention should be paid to picking the right form of financing available in the market. To help buyers choose the right financing, Mr Gary Tan (picture), an assistant vice president with DBS Bank's Consumer Banking Group, has shortlisted four main questions a potential homeowner should ask before applying for a home loan. Firstly, the potential buyer has to...