The Housing and Development Board (HDB) launched another Build-To-Order (BTO) project in Punggol on Thursday. Punggol Residences offers 769 flats, comprising 615 units of 4-room flats and 154 units of 5-room flats. It is a premium contract with enhanced architectural designs, improved facades and better landscaping. The flats will come with full finishes such as timber strip flooring for the bedrooms,...
Singapore property developer CapitaLand said on Thursday it slipped into the red during the second quarter with a net loss of S$156.92 million (US$108.76 million) – its first quarterly loss since 2003. This compared with a profit of S$515.2 million in the same quarter last year. CapitaLand said the June quarter loss was due to revaluations and impairment provisions the property developer took during...
Despite the tourism slump, Singapore's resort island and tourist destination Sentosa said it's confident of exceeding its initial target of six million visitors this year. The bullish outlook is attributed to the upcoming leisure attractions to draw in families and the young and adventurous. One of them is the MegaZip Adventure Park which was unveiled on Thursday. The S$2 million facility consists of...
The newly refurbished Tekka Centre is set to open its doors to the public from Saturday. The centre, which took almost a year to complete, now boasts a more spacious design, improved ventilation and better hygiene standards. Patrons can also expect greater convenience as there are now lifts and an escalator within the upgraded centre. Besides a more pleasant environment, the seating capacity of Tekka's...
Singapore-listed Hong Kong-based property developer Pan Hong said on Thursday that it has acquired a land parcel in China's Huzhou city for S$46.7 million. The site will be used for the development of residential and commercial properties. Located in Zhejiang province, the 103,000sqm site is estimated to yield a total gross floor area of around 216,000sqm. Construction for the project is expected to...
Ascendas India Trust today says it achieved a distributable income of $15.7 million for the first quarter ended 30 June 2009, this is a growth of 26% over the same period last year. DPU for the quarter was 2.06 cents, up 25% over 1Q08. Total property income for the quarter was $29.7 million, an increase of 4% from the corresponding quarter last year. Net property income was $18.3 million or 15%...
Suntec Real Estate Investment Trust has announced a distribution income of $47.7 million for the period April 1 to June 30 June FY09 (2Q FY09), which was 13.5% higher compared to the quarter ended June 30, 2008 (2Q FY08). The DPU of 2.977 cents for the quarter was 6.6% higher year-on-year. Suntec REIT achieved gross revenue of $64.5 million for the quarter, which was 8.9% higher than in 2Q FY08. For the...
Demand in Singapore’s property market may not be sustained because of economic uncertainty and ample supply, National Development Minister Mah Bow Tan said. The city-state is “monitoring the market closely” to ensure speculation in the property market doesn’t lead to a bubble forming, Mah told reporters today in Singapore. “I think some of the practices and habits you saw in the last property...
More than S$27.5 billion has been invested so far in the new business and financial district in Marina Bay and the government is planning to pump in a further S$1 billion in infrastructure works there over the next 10 to 15 years. Singapore's National Development Minister Mah Bow Tan announced this at the topping out ceremony for the construction of the Marina Bay Financial Centre on Wednesday...
Singapore-listed Starhill Global Reit, which owns stakes in Wisma Atria and Ngee Ann City, said Wednesday its distribution per unit for the second quarter rose 6.7 per cent year-on-year to 1.9 Singapore cents. Net property income for the three months to June climbed 16.4 per cent to S$27 million, mainly due to higher rates achieved for office renewals and new leases in Singapore, as well as higher revenue...