SUNTEC Real Estate Investment Trust posted on Wednesday a distribution per unit (DPU) of 2.596 Singapore cents for the fourth quarter ended December 31, 2016, 5.6 per cent lower than the DPU of 2.750 cents seen a year ago. Distributable income stood at S$66.1 million, 4.9 per cent lowerthan a year ago. Net property income generated was S$60.7 million, 2.9 per cent lower on year due to the divestment of...
THE misuse of industrial space has become rampant, and with tenants having settled into units in new strata projects offering office-like designs and proximity to transport nodes, the trend has become even more conspicuous. Businesses ranging from law firms and real-estate agencies to accounting and tax advisory firms, recruitment agencies, training providers, commercial schools and boutique investment...
Sales of private homes last month fell 57.3 per cent from the previous month in the traditionally quiet year-end period, even as 2016 saw a continued uptick in sales, according to data released by the Urban Redevelopment Authority (URA) on Monday (Jan 16). Excluding executive condominiums (ECs), developers sold 367 new units in December, down from the 860 units sold in November. Year-on-year, the number...
When completed, Mandai’s eco-tourism hub is expected to attract more than 10 million visitors each year, as well as generate a significant number of jobs in conservation research, tourism and hospitality, said developer Mandai Park Holdings as it launched the construction phase of the project on Monday (Jan 16). The Mandai rejuvenation project will see the relocation of Jurong Bird Park and the...
Residents in Punggol have a new community space that offers vantage views of Punggol Waterway. Located near transport and shopping facilities, the new town square will be used for a variety of activities such as exercise, food and music events. Speaking at the opening on Sunday (Jan 15) morning, Deputy Prime Minister Teo Chee Hean said Punggol has seen a huge transformation, with over 30,000 housing...
Qualifying certificate (QC) rules have generally been effective in curtailing property speculation, but pressured developers, using innovative ways to escape the harsh penalties, raise the question of whether the policy's efficacy outweighs some of its unintended consequences. QC rules were enacted to prevent foreign developers from hoarding or speculating on residential land in Singapore. After the...
SINGAPORE has fallen to seventh place in a regional ranking for high-end rental accommodation this year. It was the fourth most expensive location in Asia last year. According to the latest Accommodation Survey published by mobility solutions provider ECA International, rents for an unfurnished three-bedroom apartment across popular expatriate neighbourhoods in Singapore average US$4,535 per...
PROPERTY developer Roxy-Pacific Holdings has agreed to acquire five adjoining two-storey shophouses on Upper Bukit Timah Road for S$17 million in total, it said in a Singapore Exchange filing on Tuesday. It said the shophouses made up a freehold residential site with an estimated total land area of 10,256 square feet and an existing plot ratio of 2.5 under Singapore's 2014 land use master plan. The...
Located opposite Queenstown MRT, Queens Peak is located along Dundee Road, in the mature Queenstown satellite town. Queens Peak, which will be launched soon, has 736 luxurious units, comprising 2 tower blocks and ranging from 1 to 5 bedroom sizes and large single level penthouse units with private pools. Its design is driven by organic architecture where harmony is promoted between the abode and the...
CAMBRIDGE Industrial Trust (CIT) announced on Monday that it has entered into an agreement with RBC Investor Services Trust Singapore Limited for the proposed sale of the remaining leasehold interest in a property located at Ubi for S$22.1 million, excluding divestment costs and application goods and services tax. The five-storey light property, located at 55 Ubi Avenue 3, has a gross floor area of...