Two key retail REITs in Singapore have reported higher distributable income to unitholders, on the back of steady tenant sales and rental income. Frasers Centrepoint Trust said its fourth-quarter distributable income was up 0.9 per cent to S$25.7 million, on the back of an average rental reversion of 7.1 per cent for the quarter. Meanwhile, CapitaLand Mall Trust said its third-quarter distributable...

Suntec City officially reopened on Thursday (Oct 22) following a S$410 million enhancement. In a press release, ARA Trust Management (Suntec) Limited, the manager of Suntec REIT, said enhancement works began in June 2012 and were completed in June this year. The works involved decanting low-yielding spaces and converting levels one and two of the Suntec Singapore Convention & Exhibition Centre for...

The wheels are in motion for a makeover of Holland Village. Authorities have released more details about the first site to be sold as part of plans to expand the area, while an existing landmark is set for redevelopment. A new retail centre will also be up and running early next year. Developed by Raffles Medical Group, the five-storey medical centre and shopping mall called Raffles Holland V will have...

Local hotel group Far East Hospitality announced on Thursday (Oct 22) that it will be expanding its presence in Singapore and the region. It will be opening three hotels and service residences under its Oasia brand in Singapore and Malaysia next year, adding more than 700 rooms in capacity. Its property in Kuala Lumpur is expected to open in the first quarter of 2016, while the other two properties...

THE supply of uncompleted private homes in the pipeline continued to fall in the third quarter; the figure eased to 58,348 units as at the end of the third quarter from 61,237 units at end-Q2 2015. This was shown in Urban Redevelopment Authority (URA) data released on Friday. The above figures exclude executive condos (ECs), which are a public-private housing hybrid. URA defines pipeline supply as...

The move into your home at Amber Skye will transform the way you think about urban living. Located at the intersection of Tanjong Katong Road and Amber, this sought after condominium offers 109 lucky homeowners to make 1 Amber Road their address. Spreading over 40,708 square feet, Amber Skye will be in great company amongst the likes of 16 @ Amber and King’s Mansion. Your address at Amber Skye is an...

It is still “not time yet” to ease the measures that were put in place to cool the property market, National Development Minister Lawrence Wong said on Friday (Oct 16). Speaking to reporters during a visit to the Waterway Terraces BTO project in Punggol, Mr Wong said the price adjustments so far have been moderate compared to the increases in earlier years. “We don’t want to risk a premature...

More new flats could be offered next year, as the Government expects demand to increase with recent policy changes such as a higher income ceiling and more CPF grants. National Development Minister Lawrence Wong said on Friday (Oct 16) that the supply will likely be below 20,000 units, and a "slight adjustment" from the 15,000 units planned for this year. “We had a huge housing programme where we...

The Normanton Park condominium is set to be put up for en bloc sale next Thursday (Oct 22) after more than 80 per cent of the owners agreed to a sale. Channel NewsAsia understands that the reserve price is in the region of S$840 million. Located near Kent Ridge Park, the estate is on a site of about 62,000 square metres with a balance lease term of about 61 years. Formerly designed for Singapore...

Rivervale Mall at Sengkang will soon have new owners, following CapitaLand Mall Trust's (CMT) decision to sell the property to a private equity fund managed by AEW Asia for S$190.5 million. CMT, which announced the sale on Thursday (Oct 15), said it will realise a gain of about S$72 million, after taking into account the divestment fee and other expenses. The property had been valued at S$116 million in...